CTP Exam With Correct Questions And Answers 2024

CTP Exam With Correct Questions And Answers 2024 charge-back - correct answer.The reversal of a prior outbound transfer of funds from a consumer's bank account, line of credit, or credit card. capital - correct answer.The more permanent sources of funds used by a company, such as long-term debt, preferred stock, and common equity. Disaster Recovery - correct answer.The restoration of systems and communications after an event causes an outage. economies of scale - correct answer.A relationship that occurs when an increase in sales lowers the average cost per unit sold. financial planning - correct answer.An organizational function that involves determining the need for present and future funding to support operations. An important part of this function is the forecasting of revenues, income, and external financing required to support the company's planned growth. financial risk - correct answer.The risk that the overall value of an organization may change in response to a change in interest or foreign exchange rates. liquidity - correct answer.The ability of an organization to convert assets into cash quickly and without a significant risk of loss. operating cycle - correct answer.A representation of the flow of funds through a company from the acquisition of raw materials, through the production cycle and the sale of products or services, and finally to the collection of payments from customers. shared services center (SSC) - correct answer.A department or operation within a multiunit organization tasked with supplying multiple business units and their respective divisions and departments with specialized services, such as information technology, human resources, or accounts payable services. working capital - correct answer.The sum of a company's current asset accounts (primarily cash, accounts receivable, and inventory) less the sum of its current liability accounts (primarily payables and accrual accounts). Also known as net working capital. working capital gap - correct answer.The time gap between a cash outflow and a cash inflow. balance sheet - correct answer.A financial statement that reports a company's financial condition—including assets, liabilities, and stockholders' equity—at a point in time. bank capital requirements - correct answer.Rules or regulations that specify the amount of funds the owners of a bank must contribute to the business. Bank Secrecy Act of 1970 (BSA) - correct answer.A US legislative act under which US banks (and, in many cases, companies and individuals) are required to perform due diligence by determining a customer's identity and monitoring transactions for suspicious activity.