CTP無料問題集「AFP Certified Treasury Professional」

質問 1

A U.S. based multinational company is filing its U.S. tax return and notes that its U.K. subsidiary had pre-tax income equal to $1 million. The U.K. subsidiary paid an effective tax rate on this income of 40%. If the U.S. tax rate is 34%, what will be the amount of the foreign tax credit on the U.S. tax return related to the U.K. income?

（A）$60,000

（B）$280,000

（C）$340,000

（D）$400,000

正解：C 解答を投票する

質問 2

Why would a company establish a short-term credit facility?

（A）Short-term interest rates are expected to rise.

（B）Cash shortages are being forecasted due to seasonality.

（C）There is an anticipated failure of the company's main depository bank.

（D）The company would like to improve bank relationships.

正解：B 解答を投票する

質問 3

Which of the following is an opportunity cost of maintaining excess liquidity?

（A）Decreased commitment fees

（B）Interest paid on outstanding debt

（C）Increase in interest earnings

（D）Loss of time in securing credit

正解：B 解答を投票する

質問 4

A treasury project manager is tasked with improving day's sales outstanding. The company, a major retailer, sells 70% of its products to businesses. The project manager has convinced the Treasurer to proceed with purchasing $500,000 worth of equipment to convert the checks they receive to electronic form. What did the project manager overlook in making the decision?

（A）Point-of-purchase check conversion

（B）NACHA rules

（C）Accounts receivable conversion

（D）Credit card regulations

正解：B 解答を投票する

質問 5

The yield on any short-term investment instrument is a function of the maturity or holding period, the amount paid and:

（A）the issuing price.

（B）the money market yield.

（C）the after-tax yield.

（D）the cash flows received.

正解：D 解答を投票する

質問 6

T-bill discount rate = 5.85% T-bill face value = $100,000 Initial term = 90 days
What is the bond equivalent yield on this T-bill?

（A）6.02%

（B）5.95%

（C）5.87%

（D）5.94%

正解：A 解答を投票する

質問 7

A merchant presents 2 different batches of credit card transactions for processing, each batch has the same dollar value and number of transactions, but the fees are different. Which of the following explains why?

（A）Time of batch closure

（B）Type of card accepted

（C）Goods or services sold

（D）Use of a different terminal

正解：B 解答を投票する

質問 8

An equity management company's Chief Financial Officer and Treasurer are evaluating their corporate investments and decide that they need to diversify their stock holdings to include personal care products companies. Based on their analysis, publicly-traded companies A and B stand out as choices. Company A has a beta value of 0.65 while company B has a beta value of 1.10. They decide to invest in Company A.
What objective of their investment policy did they use to make their decision?

（A）Liquidity

（B）Safety

（C）Exposure horizon

（D）Risk/return trade-off

正解：B 解答を投票する

質問 9

XYZ Holdco has multiple credit facilities with a bank under a borrowing agreement that includes certain covenants. A fire has destroyed the manufacturing plant owned by ABC, one of the XYZ subsidiaries that is part of the credit facilities. All loans, including the ABC loan, are up to date and being repaid as required. However, after the fire, the bank notified XYZ that it was in default. Which one of the following covenants is MOST LIKELY a term of the borrowing agreement?

（A）Cross-default provisions

（B）Material adverse change

（C）Total liabilities to assets ratio default

（D）Technical default

正解：B 解答を投票する

質問 10

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?

（A）A capital budget

（B）A short term forecast

（C）A medium term forecast

（D）A long term forecast

正解：C 解答を投票する

質問 11

Securities sold by companies in an initial public offering (IPO) arE.

（A）securities sold by a private company to a limited number of investors.

（B）public securities sold by a private company for the first time.

（C）a specific type of security sold by a public company for the first time.

（D）debt securities sold on the open market.

正解：B 解答を投票する

質問 12

ABC Corporation receives images of paid check exception items from its bank and reviews them daily. What action should be taken on an item where the payee on the image does NOT match the data from ABC Corporation's accounts payable?

（A）Image remains stored on ABC Corporation's network for future customer inquiries.

（B）No-pay decision is communicated to the bank.

（C）Bank alerts payee that check is unmatched.

（D）ABC Company utilizes the holder in due course defense.

正解：B 解答を投票する

質問 13

The combination of difference in condition (DIC) insurance and umbrella insurance:

（A）replaces the coverage provided by basic property and liability insurance.

（B）transfers risk to a company's captive insurance subsidiary.

（C）provides payments to a company in the event it is unable to pursue a line of business
due to an unforeseen event.

（D）supplements the coverage provided by basic property and liability insurance.

正解：D 解答を投票する

質問 14

Company XYZ is conservative when investing in their short-term portfolio. XYZ is looking to add the following money market instruments in their own country: a reverse re-purchase agreement, a floating-rate note, and a negotiable certificate of deposit. What types of investment risks are associated with these instruments?

（A）Default, liquidity and price risk

（B）Default and liquidity risk

（C）Liquidity and price risk

（D）Credit and price risk

正解：B 解答を投票する

質問 15

In comparing the U.S. banking system and foreign banking systems, which of the following statements is true?

（A）Foreign banking systems typically have more financial institutions than the U.S.

（B）Foreign banking systems are not permitted to own equity investments in corporations and U.S. banks are.

（C）Many foreign banking systems allow notional pooling and U.S. banks do not.

（D）Most foreign banking systems do not have central banks.

正解：C 解答を投票する

質問 16

In recent years, there has been a sharp increase in the use of technology for certain financial transactions. Which of the following has increased dramatically over recent years?

（A）C2C

（B）C2B

（C）B2C

（D）B2B

正解：A 解答を投票する

質問 17

A company has a $300,000 credit line of which $200,000 was the average amount outstanding for the year. The terms of the loan include a 1/2 of 1% commitment fee on the unused portion, an interest rate of 10%, and a compensating balance requirement of 2% of the total credit line. The company's compensating balances are funded from credit-line borrowings.
If the company negotiates to eliminate the compensating balance requirement and the average borrowings remain at $200,000, the annual interest rate would be:

（A）10.25%.

（B）10.00%.

（C）10.57%.

（D）10.31%.

正解：A 解答を投票する

質問 18

Company ABC has recently started to experience a significant reduction in funds availability. Which of the following is MOST LIKELY to reduce funds availability?

（A）Company no longer pre-encodes its checks for deposit.

（B）Deposits are arriving at bank later, but prior to cutoff time.

（C）Company negotiated a later availability schedule.

（D）Ledger balances have increased.

正解：A 解答を投票する

CTP 無料問題集「AFP Certified Treasury Professional」

弊社を連絡する

関連リンク

トップ試験