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. Offered 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.
The CTP sets the global standard and is a symbol of excellence in the corporate treasury profession. Earning the CTP certification definitively communicates that an individual has demonstrated the knowledge and skills required to perform in today’s complex corporate finance environment.

About Association of Financial Professionals (AFP®)

AFP® is a not-for-profit, individual membership association, offers the CTP credential program on behalf of the finance profession. The certification program has continually evolved since 1986 to accurately reflect the responsibilities of today’s treasury professionals. AFP is committed to ensuring that the CTP credential maintains its distinctive high standard of excellence.

CTP Exams

Pearson VUE provides technical assistance to AFP in test development and administers the delivery of the computer-based CTP examination through a network of more than 5,000 test centers across the globe. The CTP examination is developed with the help of subject matter experts from the areas of corporate cash and treasury management, and banking and financial services. The scope and content of the CTP examination is based on the results of a treasury practitioner job task analysis, as well as the work of several test development committees of subject matter expert volunteers.



The professional experience requirement to sit for the CTP exam is a minimum of two years full-time work experience in a career-based corporate cash/treasury management or corporate finance-related position. Positions such as internships, vacation/holiday employment or volunteer positions do not qualify in meeting the full-time experience requirement. The experience requirement must be fulfilled by the application deadline, not the start of the testing window. Applicants who submit their application before they have fully satisfied the education and/or experience requirement will be determined ineligible.

Important – All applicants must complete the Report of Experience and/or Education form located in the online application. Relevant work experience should be outlined in the form.
Candidates must note that AFP is very particular about the eligibility of the candidate enrolling for the CTP exam. Exqualifi will only process the enrollments application to AFP once the candidate completes the enrollment process, makes the payment and submits all the necessary documents. The enrollment is confirmed by AFP within 15 working days of the application. Incase any application is rejected by AFP, the candidate gets full refund of the fee paid within 30 working days.

Chapter 1: Introduction to the Study of Treasury Management
I. Introduction
II. The Evolving Role of the Treasury Professional
III. Organization of Essentials of Treasury Management
IV. Summary
Chapter 1: The Role of Treasury Management
I. Introduction
II. The Role and Organization of Treasury Management
III. Finance and Treasury Organization
IV. Corporate Governance
V. Summary

Chapter 2: Regulatory and Legal Environment
I. Introduction
II. General Regulatory Environment
III. Primary Regulators and Standard Setters of International Financial Markets
IV. U.S. Regulatory Environment
V. Tax Considerations
VI. Bankruptcy Laws
VII. Summary
Appendix 2.1: SEPA Member States

Chapter 3: Banks and Financial Institutions
I. Introduction
II. Financial Institutions: Functions and Services
III. Summary

Chapter 4: Payment Systems
I. Introduction
II. Payment Systems Overview
III. Cash Payments
IV. Check-Based Payments
V. Large-Value Electronic Funds Transfer (EFT) or Wire Transfer Systems
VI. Small-Value Transfer Systems
VII. Card Based Payment Systems
VIII. Summary
Appendix 4.1 – Check Return Reasons
Appendix 4.2 – Fedwire Format Example
Appendix 4.3 – FedGlobal ACH Payment Countries
Appendix 4.4 – Banking and Payment Systems Information for Selected Countries

Chapter 5: Money Markets
I. Introduction
II. Global Money Markets
III. Short-Term Money Markets in the US
IV. Summary

Chapter 6: Capital Markets
I. Introduction
II. Overview of Capital Markets
III. Debt Market
IV. Equity (Stock) Securities
V. Summary
Appendix 6.1 – Listing of the World’s Top 10 Stock Exchanges

Chapter 7: Relationship Management and Financial Service Provider Selection
I. Introduction
II. Relationship Management
III. FSP Selection and the Request for Proposal (RFP) Process
IV. Bank Compensation Practices
V. Assessing FSP Risk
VI. Summary
Appendix 7.1 – Sample Bank Scorecard
Appendix 7.2 – RFP Activity Information
Appendix 7.3 – Sample Uniform Bank Performance Report (UBPR)

Chapter 8: Financial Accounting and Reporting
I. Introduction
II. Accounting Concepts and Standards
III. Financial Reporting Statements
IV. Accounting for Derivatives, Hedges, and Foreign Exchange (FX) Translation
V. Accounting for U.S. Governmental and Not-For-Profit (G/NFP) Organizations
VI. Summary

Chapter 9: Financial Planning and Analysis
I. Introduction
II. Time Value of Money
III. Capital Budgeting
IV. Budgeting
V. Cost Behavior
VI. Financial Statement Analysis
VII. Performance Measurement
VIII. Summary

Chapter 10: Introduction to Working Capital Management
I. Introduction
II. Overview of Working Capital
III. The Working Capital Cash Conversion Cycle (CCC)
IV. How Changes in Current Accounts Impact External Financing
V. Working Capital Investment and Financing Strategies
VI. Management of Credit and Accounts Receivable (A/R)
VII. Management of Inventory
VIII. Management of Accounts Payable (A/P)
IX. Multinational Working Capital Management Tools
X. Summary

Chapter 11: Working Capital Metrics
I. Introduction
II. Fundamental Working Capital Metrics
III. The Cash Conversion Cycle (CCC)
IV. Calculations for Trade Credit Decisions
V. Accounts Receivable (A/R) Monitoring
VI. Summary

Chapter 12: Disbursements, Collections, and Concentration
I. Introduction
II. Disbursements
III Collections
IV. Concentration of Funds
V. Summary
Appendix 12.1 – US ACH Entry Class (SEC) Codes and Payment Types

Chapter 13: Short-Term Investing and Borrowing
I. Introduction
II. Managing Short-Term Investments
III. Pricing and Yields on Short-Term Investments
IV. Managing Short-Term Borrowing
V. Debt Financing
VI. Summary
Appendix 13.1 – Listing of Some Major Credit Rating Agencies

Chapter 14: Cash Flow Forecasting
I. Introduction
II. Purpose of Cash Flow Forecasting
III Issues and Opportunities in Forecasting
IV. Types of Forecasts
V. The Forecasting Process
VI. Forecasting Methods
VII. Best Practices for Cash Forecasting
VIII. Summary

Chapter 15: Technology in Treasury
I. Introduction
II. Information Technology for Treasury
III Treasury Management Systems (TMSs)
IV. E-Commerce
V. Summary
Chapter 16: Enterprise Risk Management
I. Introduction
II. General Risk Management
III. Enterprise Risk Management
IV. Operational Risk Management
V. Disaster Recovery and Business Continuity
VI. Managing Insurable Risks
VII. Summary
Appendix 16.1 – Disaster Recovery (DR) Checklist
Appendix 16.2 – Types of Insurance Coverage

Chapter 17: Financial Risk Management
I. Introduction
II. Overview of Financial Risk Management
III. Managing Financial Risk
IV. Derivative Instruments Used as Financial Risk Management Tools
V. Foreign Exchange (FX) Risk Management
VI. Currency Derivatives Used to Hedge Foreign Exchange (FX) Exposure
VII. Interest Rate Exposure and Risk Management
VIII. Commodity Risk Exposure
IX. Other Issues Related to Financial Risk Management
X. Summary

Chapter 18: Treasury Policies and Procedures
I. Introduction
II. Overview of Treasury Policies and Procedures
III. Guidelines for Creating Policies and Procedures
IV. Policy Development Example: Short Term Investment Policy
V. Overview of Key Treasury Policies
VI. Summary
Appendix 18.1 – Sample Short-Term Investment Policy

Chapter 19: Long-Term Investments
I. Introduction
II. Valuation of Capital Market Securities
III. Managing Capital Market Investments
IV. Summary

Chapter 20: The Capital Structure Decision and Management
I. Introduction
II. Capital Structure
III. Raising and Managing Long-Term Capital
IV. The Weighted Average Cost of Capital (WACC)
V. Lease Financing
VI. Equity Financing and Management
VII. Miscellaneous Corporate Finance Topics
VIII. Summary

  • The CTP is one examination — 170 multiple choice questions.
  • It is offered during two testing windows each year — June/July and December/January.
  • Every new application is valid for six consecutive testing windows (or three years), which means a candidate has multiple opportunities to take the examination before having to submit a new application.
  • During those six testing windows a candidate can submit a re-examination registration, transfer request, and/or deferral request.
  • After the sixth and final testing window a candidate will be required to submit a new application in order to test.

Early Registration:

Registration Fees INR 85,090 USD 1270
GST (18%) INR 15,316 USD 229
Total INR 1,00,406 USD 1499

Deadline Registration

Registration Fees INR 91,790 USD 1,370
GST (18%) INR 16,522 USD 247
Total INR 1,08,312 USD 1,617



CTP Examination Testing Window: June 1, 2018 – July 31, 2018
Early Application Deadline March 23, 2018
Final Application Deadline April 27, 2018
Cancellations/Refund Request Deadline May 4, 2018
Transfer/Deferral Request Deadline July 31, 2018


* Applications received after the final postmark deadline will automatically be deferred to the next available testing window.


CTP Examination Testing Window: December 1, 2018 – January 31, 2019
Early Application Deadline September 21, 2018
Final Application Deadline October 31, 2018
Cancellations/Refund Request Deadline November 16, 2018
Transfer/Deferral Request Deadline January 31, 2019

* Applications received after the final postmark deadline will automatically be deferred to the next available testing window.

Register for the June 2018 exam before March 31st and get a complimentary copy of the book- Essentials of Treasury Management (5th Edition) worth USD 255.