CTP問題集、AFP実際の試験問題

質問 1

An analyst is performing a lease versus buy analysis on a corporate jet. In the evaluation, a cost is relevant if it is:

A. unlikely to be incurred.

B. tied to inflation.

C. considered a sunk cost.

D. different in each scenario.

正解: D

質問 2

Which of the following factors is NOT used by a cash manager to estimate a target compensating balance?

A. Per-item service costs

B. Ledger balance

C. Average volume

D. Earnings credit rate

正解: B

質問 3

When considering Fedwire, ACH and CHIPS as 3 different payment systems, which of the following applies only to Fedwire?

A. Each bank member funds an account maintained at the Fed.

B. Settlement is final when receiving bank is notified of transfer.

C. Company sends request of transfer directly to its bank.

D. Real-time intraday net settlement of transactions.

正解: B

質問 4

ASC Topic 815 (FAS 133) is applicable when accounting for which of the following?

A. Purchase of a forward

B. Gain on an equity investment

C. Market value of collateral

D. Purchase of a bond investment

正解: A

質問 5

A company has a beginning cash balance of $50,000. Its weekly cash flow forecast shows the following information for the next three weeks.

Which of the following statements is true?

A. The cash balance at the beginning of the three weeks is the highest of the three weeks.

B. Week 1 ending cash balance is the highest of the three weeks.

C. Week 2 ending cash balance is the highest of the three weeks.

D. Week 3 ending cash balance is the highest of the three weeks.

正解: C

質問 6

Treasury policies should be approved by the:

A. external auditors.

B. board of directors.

C. controller.

D. audit committee.

正解: B

質問 7

A company has made an investment of $30,000, which matures in 180 days and pays $800 in interest. Which of the following is the effective annual yield?

A. 1.31%

B. 5.40%

C. 1.33%

D. 5.33%

正解: B

質問 8

A U.S.-based importer, whose functional currency is USD, has an FX exposure in GBP related to a GBP denominated payment it will need to make in 120 days. As the company's treasurer is uncertain as to the exchange rate movements between the two currencies, he has decided to hedge the exposure. To do so, the treasurer has decided to purchase futures contracts at today's GBP/USD FX rate and will hold the contracts for
120 days until which the position will be liquidated in order to settle the GBP payable. If the GBP were to strengthen against the USD over the 120 day holding period, will this result in a positive or negative mark to market change on the futures position? Will this increase or decrease the total cost of the USD denominated payable?

A. Positive mark to market change; it will have no impact on the total cost of the denominated payable

B. Positive mark to market change; it will decrease the total cost of the denominated payable

C. Negative mark to market change; it will have no impact on the total cost of the denominated payable

D. Negative mark to market change; it will increase the total cost of the denominated payable

正解: A

AFP Certified Treasury Professional - CTP 模擬練習