Free AFP CTP Practice Test & Real Exam Questions

A company transfers funds from its remote accounts by ACH with a one-day settlement and is notified of a same-day credit of $100,000 in one of its accounts. A wire transfer costs $27.75 incrementally. Assuming a
360-day year, which of the following is the minimum rate of interest that must be earned on these funds to justify the cost of a wire transfer?

The shares of a large East European mining company have been recently listed on the New York Stock Exchange. The company hired a compliance officer to ensure that the company meets or exceeds the laws that govern listed companies in the United States. Which of the following recommendations is required?

Which of the following would MOST directly affect a company's dividend policy?

In an international banking system, what role is commonly carried out by a large group of clearing banks?

Which of the following ASC X12 transactions is used to confirm the receipt and compliance of transmitted sets?

Which of the following is the MOST accurate statement regarding the passage of the Sarbanes-Oxley Act?

In a large company, the person who normally oversees both the treasury and the accounting functions is the:

Company XYZ sells 100% of its accounts receivable in a no-recourse factoring arrangement. ABC Ltd, a customer of Company XYZ, owes $10,000 for products purchased on March 31. Company XYZ factors its receivables including this purchase on April 15. On April 20, ABC Ltd files for bankruptcy. What is the effect of the bankruptcy filing on Company XYZ?

The Treasurer of a company would like to establish an investment policy for the organization. One objective that should be included in the investment policy that would BEST allow the organization to limit its exposure to a particular market sector would be to:

In this situation, the net earnings credit amount for the month would show:

An analyst at XYZ United is in charge of setting up the bank accounts. Fraud is a major concern due to the analyst's past experience with previous employers. The analyst has estimated that the company will earn 3.7% on surplus cash. Surplus cash must be invested in short-term investment grade investments. The company's closest competitor earned 4.1% for its surplus cash in its latest fiscal year. What bank service should the analyst use to maximize the company's surplus cash?

A manufacturing company has no liquidity and needs to purchase additional inventory in 60 days. Which of the following would have helped the company plan for this situation?

The ACH system eliminates float because the:

Using a digital certificate when accessing a financial services provider is one way to reduce what kind of risk?