Certified Treasury Professional (CTP) Exam is based on concepts and experiences in relation to treasury management.Certified Treasury Professional (CTP) designation serves as a benchmark of competency in the finance profession and is recognized as the leading credential in corporate treasury worldwide. After earning the CTP, you are committed to keeping your knowledge current by meeting continuing education requirements.  The CTP exam is generally known to be a moderately difficult exam, with an average pass rate of 50%

To pass the CTP exam, candidates must earn a score of 300 or above. It may be comforting for you to know that at least 50% of the candidates who take the exam receive a passing grade! If take the computer-based test, you will receive an unofficial score report immediately after you complete the test.

Preparation time required for this exam depends on each candidate’s current knowledge, experience, reading speed, and comprehension. It is impossible to calculate how much time a specific individual would need to prepare, but we suggest 75-100 hours of reading and study time.

Certified Treasury Professional (CTP)

Certified Treasury Professional (CTP) Exam is based on concepts and experiences in relation to treasury management.Certified Treasury Professional (CTP) designation serves as a benchmark of competency in the finance profession and is recognized as the leading credential in corporate treasury worldwide. After earning the CTP, you are committed to keeping your knowledge current by meeting continuing education requirements. 

Eligibility requirement for the exam

Candidates applying for the exam must have two or more years of full-time, career-based, corporate finance-related work experience. If they have less than two years of experience, a graduate-level degree in finance or two years of full-time, university-level teaching in a finance topic is each equivalent to one year of work experience.

Course structure

In this the topics include:

• Maintain corporate liquidity required to meet current and future obligations in a timely and cost effective manner (25%)
• Manage capital structure, manage costs of long- term capital, and quantitatively evaluate long-term capital resource investments (18%)
• Manage internal and external relationships (20%)
• Monitor and control corporate exposure to financial, regulatory, and operational risk (including emerging and reputational risk) (25%)
• Assess impact of technologies on the treasury function (12%)

Exam Format and Information

Exam Name Certified Treasury Professional	Exam Code CTP
Exam Duration 4 hours	Exam Format Multiple Choice
Exam type 0	Number of Questions 170 Questions
Validity 3 years	Exam Fee AFP Member : $875 USDNon-Member : $1270 USD
Exam Language 0	Pass Score 300 (score range from 200 to 500)

The passing rate for the CTP exam program is 50%. This means that out of 170 MCQs you have to mark at least 80 MCQs correctly to pass the exam.

how hard is the certified treasury professional exam

What Is a Certified Treasury Professional (CTP)?

The term certified treasury professional (CTP) refers to a financial designation awarded to individuals experienced in cash management and who pass an exam demonstrating their expertise by the Association for Financial Professionals (AFP). Successful applicants earn the right to use the CTP designation with their names for three years, which can improve job opportunities, professional reputation, and pay. CTPs work in a variety of different fields including treasury management, finance, and accounting.

KEY TAKEAWAYS

• The certified treasury professional designation is awarded to individuals experienced in cash management.
• Individuals must pass an exam demonstrating their expertise by the Association for Financial Professionals.
• Those with the designation tend to earn higher incomes, have greater job security, and are better able to market themselves in the industry.
• The CTP designation is good for three years and requires recertification.

Understanding a Certified Treasury Professional (CTP)

A certified treasury professional can help businesses manage and operate their corporate treasuries. It’s a job that emphasizes cash and capital management, with a CTP keeping a close eye on company cash flow. As corporate treasury management grows more complex, a CTP is in ever-greater demand.

As mentioned above, the certified treasury professional (CTP) designation is given to financial professionals who meet certain criteria by the Association for Financial Professionals.1 Individuals must have between one to two years of work experience in cash or treasury management or corporate finance if they wish to take the exam. Those who don’t have relevant work experience must either have a graduate degree in business, finance, or accounting, or relevant teaching experience at the college or university level.

Applicants must submit proof of their eligibility before they can take the exam to become a CTP. Records of their work experience and academic qualifications must be submitted to the AFP prior to taking the exam. The certification committee within the association reviews and determines whether or not an applicant is qualified to take the exam.

The CTP exam is closed-book and consists of 170 multiple-choice questions that can be completed on a computer. Applicants are given four hours to complete the test. The exam is divided into five categories:

• Treasury operations and controls: 21 to 24 questions
• Working capital management: 32 to 35 questions
• Cash and liquidity management: 37 to 42 questions
• Capital markets and funding: 22 to 24 questions
• Corporate treasury function: 30 to 35 questions

AFP members pay a fee of $925 for the exam if they register early. The cost jumps by an extra $100 if they register during the final deadline period. Non-members may also apply for the exam but the fees are higher—$1,320 for early registration and $1,420 by the final deadline.

An Association for Financial Professionals membership costs $495 and is good for a 12-month period.

The CTP designation is considered a benchmark in the financial profession. CTPs can earn more money than their peers—as much as 13% more than those who aren’t certified as CTPs. They also have greater job security and are better able to market themselves in the industry.1 Successful CTPs generally have a background in finance and/or accounting, and become experts in treasury management. They should understand revenue collection, obligation payment, cash processing, reconciliation, managing current accounts, maintaining documentation, monitoring transactions, forecasting, and monitoring cash flow, receiving and processing wire transfers, analyzing financial statements, and more.

Special Considerations

Some universities offer training programs to prepare would-be applicants for the exam. The curriculum may aim to teach the candidates working capital strategies for managing liabilities and assets, how to optimize capital structure, and how to maintain an organization’s liquidity to meet their future obligations. They might also learn how to monitor and control a company’s exposure to potential financial and operational risks. Such classes may include real-life case study scenarios for students to apply their developing knowledge.

The CTP designation is used as a sign of credibility among corporate treasurers and other professionals in the financial sector. The designation is good for three years, after which the individual must recertify. In order to keep the CTP designation, individuals must complete 36 hours of continuing education called recertification credits and pay a fee to continue using the designation. Candidates don’t need to wait until their designation expires in order to recertify—the 36 hours can be completed and reported at any time.7

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is cTP certification worth it?

The Certified Treasury Professional (CTP) designation sets the global standard in the finance profession and is a symbol of excellence.

Financial professionals who want to grow their career can do so by earning a CTP. It has been linked with a 16% earning bump (although that statistic comes courtesy of the Association of Financial Professionals), and is a well-recognized mark of accomplishment.

WHY SHOULD YOU EARN THE CTP?

1. Higher salaries. A treasury analyst with a CTP can earn 16% more than their non-certified peers. See more job title comparisons in the 2022 AFP Compensation Survey.*
2. Increases job security. Validates your competency in liquidity, capital and risk management functions.
3. Better career flexibility. Prepares you for greater on-the-job responsibilities.
4. Improves marketability. Stand out against other applicants in a tough job market.
5. Boosts relevancy. Stay current in the profession with continuing education requirements.

The Certified Treasury Professional (CTP) designation serves as a benchmark of competency in the finance profession and is recognized as the leading credential in corporate treasury worldwide. Sponsored by the Association for Financial Professionals (AFP), the CTP credential signifies that you have demonstrated the knowledge and skills required to effectively execute critical functions related to corporate liquidity, capital and risk management. In today’s environment, companies are looking for proven and ethical professionals. They are looking for CTPs.

Plus, after earning the CTP, you are committed to keeping your knowledge current by meeting continuing education requirements. CTPs remain relevant throughout their career.

Whether you’re looking to safeguard your career or seeking a promotion, earning the CTP certification can open a variety of doors. The 2022 AFP Compensation Survey shows that CTPs earn more than their non-certified peers:

*Source: 2022 AFP Compensation Survey

According to the research, financial professionals who do not have an advanced degree improve their salary potential by earning professional certifications such as the CTP. The CTP designation sets the standard in the finance profession and is a symbol of excellence.

Top 5 Tips for the CTP Exam in Treasury Management?

If you are planning to take the CTP Exam, it is important for you to be fully prepared. With a pass rate of around 50%, it is a very challenging corporate finance certification.

Tip #1: Begin Studying Early

Whether you have 1 year of treasury management experience or 100, it is in your best interest to begin studying as early as possible for this exam. The CTP covers such a wide variety of material that it is very unlikely that you will know all the information necessary. We suggest 3 months, but it all depends on you, your existing knowledge and your ability to take standardized tests.

Tip #2: Know the Text

The CTP Exam is based on the text issued by AFP, Essentials of Treasury Management. No question will be on the exam unless it is in this text. Know the text!

Tip #3: Purchase Qualified Study Material

If you’re going to purchase additional material for the CTP, make sure it’s qualified. Pay attention to ratings, reviews, etc. We like the Certified Treasury Professional Study Program and Prep Materials because its owners have taken the exam. Much of the other material that’s currently available is sold by companies who mass produce material for a wide variety of exams. So be careful when you choose supplementary material.

Tip #4: Practice the Math

The CTP is comprised of very complex financial calculations, many of which are reliant on other calculations to be completed first. Practice the formulas and be able to write and rewrite them on demand. Understand when and where each formula is needed and should be used or you will find yourself lost and frustrated when the time comes.

Tip #5: Be Prepared for the Testing Facility

All CTP Exam test-takers in the U.S. will have to visit their nearest Pearson Vue location. There’s no reason to bring anything with you like a calculator or pen, etc because one will be provided. Once you sit down, you will be given a whiteboard or paper to write on. Certified Treasury Professional Study Program and Prep Materials suggest that you write down your formulas immediately before you begin. Whether or not the test location will let you do this is debatable, but after you hit the “start” button, they cannot stop you from quickly jotting down notes that are relevant to the exam.

Being prepared for the Certified Treasury Professional exam is the key to passing. Follow these 5 tips and you’re closer than most to become a CTP.

how to pass the certified treasury professional exam

Certified Treasury Professional (CTP) Exam evaluates a candidate’s knowledge and ability to handle critical functions related to corporate liquidity, capital, and risk management. The CTP credential is recognized around the world as the leading credential in corporate treasury, with holders earning an average of 16% more than non-holders.

This page will cover the CTP examination, what information the exam covers, the number and type of questions you can expect, the score you need to pass, and everything you need to register for the assessment.

Eligibility

Candidates wanting to take the CTP will have to meet the educational or work experience requirements before they can do so.

All candidates must have one of the following:

• Two years of experience working full-time in an area of professional finance
• A graduate degree in finance
• Four years of full-time college-level financial teaching experience

Exam Outline Review

The Certified Treasury Professional Exam contains 170 questions, all of which are multiple-choice, and the time limit is 3.5 hours.

The exam contains 5 domains, which are outlined below.

Domain 1 (25%)

This domain is about maintaining corporate liquidity required to meet current and future obligations in a timely and cost-effective manner.

Specifically, Domain 1 covers the following topics:

• Ability to manage optimal cash positioning using short-term investing and borrowing procedures
• Ability to forecast and manage cash receipts and disbursements
• Ability to recognize and leverage cash consideration and pooling structures
• Manage foreign exchange (FX) exposure
• Ability to manage trade financing, including letters of credit
• Ability to manage intercompany financing (may include loans, repatriation, and in-house banking procedures)
• Review cash balances and reconcile transaction activity to ensure accuracy
• Optimize treasury operations (including considerations for roles/responsibilities and outsourcing options)
• Calculate, analyze, and evaluate financial ratios to optimize financial decision-making

Domain 2 (18%)

This domain is about managing capital structure, managing costs of long-term capital, and quantitatively evaluating long-term capital resource investments.

Specifically, Domain 2 covers the following topics:

• Negotiate and manage syndicated agreements
• Manage investment portfolio
• Issue debt and equity
• Manage revolving debt agreements
• Assess the impact of mergers, acquisitions, and divestitures
• Evaluate current market conditions (including credit availability, spreads, interest rates, terms, risk) as they relate to long‐term borrowing strategies

Domain 3 (20%)

This domain is about managing internal and external relationships.

Specifically, Domain 3 covers the following topics:

• Build, maintain, and review relationships with external financial service providers
• Evaluate and implement treasury products and services (including banking products, treasury workstations)
• Administer bank accounts (including bank fee analysis) and maintain documentation
• Identify, negotiate, and select relationships and operational agreements with external service providers (including financial, technological, and investment/retirement advisors) to ensure best practices and competitive pricing
• Serve as an internal trusted advisor and consultant (including Project Finance)
• Manage merchant services programs (including fees, risk, controls, card security compliance, retention requirements)
• Build and maintain relationships with internal stakeholders (including accounting, IT, legal, and tax departments)

Domain 4 (25%)

This domain is about monitoring and controlling corporate exposure to financial, regulatory, and operational risk (including emerging and reputational risk).

Specifically, Domain 4 covers the following topics:

• Comply with treasury policies and procedures (such as investment, FX, risk management, hedging, credit approval)
• Draft treasury policies and procedures for approval including FX, risk management, hedging, credit approval
• Detect and mitigate fraud (such as payments, bank transactions, internal, and external)
• Benchmark performance against external sources to ensure best practices (including banking fees comparative analysis)
• Evaluate and manage counterparty risk (including risk related to supply chain, banks, brokers, dealers)
• Develop, maintain, and test business continuity plans (including bank balance reporting process, funds transfer capabilities)
• Hedge FX, interest rate, and commodities exposure
• Ensure regulatory compliance, and report internally and externally on compliance

Domain 5 (12%)

This domain is about assessing impact of technologies on the treasury function.

Specifically, Domain 5 covers the following topics:

• Leverage technology systems
• Identify security issues and concerns associated with new and existing technology
• Identify cyber‐related risks
• Monitor information security risks and cyber‐related risks (including e‐mail scams, phishing scams)

Registration

Registration for the exam is done online or over the phone. To successfully register, you will have to pay a registration fee of $186.00.

Phone:	To make your registration over the phone, call Pearson VUE’s registration center at 866-837-8287.
Online:	For online registration, visit the Pearson VUE website.

Receiving Authorization

After you have registered online or over the phone, you will wait to receive authorization to take the test via the mail. Your authorization should arrive within a month of your registration. If you do not receive the authorization in the mail in a month, call 301-907-2862 or reach out to certification@afponline.org.

Candidates who registered to take the test at a later date will NOT receive their authorization to test in the mail until after the current test date has passed.

When you receive your authorization letter, take the time to ensure the name on the paper is an exact match to your method of identification. If you see any incorrect information, contact AFP as soon as possible to have the error corrected. On test day, you will not be allowed to test if the name on your ID and the name on the authorization are not exact matches.

Choosing a Testing Center

Once you receive your authorization, you can register to take the test at any of the 5,000 centers. You want to do this as soon as you receive your letter. The available seats at these centers fill up quickly, so you do not want to miss your opportunity by waiting to declare where you want to test!

Cancelling Your Registration

If you contact the AFP by sending them the appropriate required form to cancel by the deadline, you will receive a portion of your fee, but not all of your registration fees. The deadlines for cancellation requests are always 14 days before the registered testing day.

Testing Deadlines

The CTP exam has two 2-month testing windows each year: June-July and December-January.

Here are the deadlines for applying to take the exam in the December 2022-January 2023 testing window:

Deadlines for Testing Window 2022B: December 1, 2022 – January 31, 2023
Early Application	September 28, 2022
Final Application	November 2, 2022
Re-registration	November 2, 2022
Cancellation	November 17, 2022
Refund Request	November 17, 2022
Deferral Request	January 31, 2023

Add these dates to your Google Calendar!

 
Any applications that are received after the designated deadline will automatically be deferred until the next available testing date.

Exam Fees

All test fees are in addition to the initial registration fee.

If you are a member of the Association for Financial Professionals (AFP), the cost of the test will be $410.00. The cost for non-AFP members is $991.00.

Test Day

To be admitted to take the exam, you must provide a valid photo ID. Examples of acceptable identification include passports, state-issued driver’s licenses, state-issued identifications, and employee cards that have your name and photo.

Items that are NOT Allowed in the Testing Room

• Cell phone
• Handheld calculator (online calculators will be provided)
• Books or reference materials
• Scratch paper (you will be given a whiteboard and pen to do your calculations on)

Late Arrival

If you arrive at the testing center more than 30 minutes after the test has begun, you will be considered a “no-show.” No-shows are penalized with an $85.00 fee.

CTP Scores

To pass the CTP exam, candidates must earn a score of 300 or above. It may be comforting for you to know that at least 50% of the candidates who take the exam receive a passing grade!

If take the computer-based test, you will receive an unofficial score report immediately after you complete the test. Regardless of the testing method, official score reports are sent out about 3 weeks after you complete the test.

Retaking the Exam

There are no limitations to how many times you can take the examination overall, but you can only take the exam once during each exam window.