CTP FAQ - Top Frequently Asked Questions

Q: How does AFP recognize new CTPs?

A: New CTPs for the previous testing window are listed in the CTP Registry, located on the AFP Web site. New CTPs are also provided with an Employer Notification Form that can be submitted to AFP to notify an employer or supervisor of your accomplishment. In addition, AFP recognizes new CTPs as part of the Certification Luncheon at the AFP Annual Conference.

Q: What do I need to do to maintain my CTP/CCM certification?

A: CTPs and CCMs are required to earn and report 36 continuing education credits every three years to maintain their certification.

Q: How many questions are there for each exam topic?

A: Review the Essentials of Treasury Management, 2nd Edition, Chapter Outline for more information about the number of questions per CTP exam topic.

Q: Do I need to be a member to register for the exam?

A: You are not required to be an AFP member prior to registering for the exam. However, non-members are required to remit the non-member rate for the exam. The non-member rate includes a non-member differential that is applied towards an AFP membership for the calendar year.

Q: I don't think my graduate school transcripts will be delivered by the deadline. Can I fax a copy to AFP?

A: Yes. A copy of your graduate school transcripts can be faxed to AFP at 301.907.2864, but an original copy from the issuing school must also be mailed.

Q: If I have a graduate degree, do I need to complete the work experience portion of the exam application?

A: Yes. Since exam candidates are required to report at least one year of work experience, the work experience portion of the application will need to be completed and submitted by all candidates.

Q: How do I determine if I am eligible to take the exam?

A: To qualify for the exam, applicants must report two or more years of full-time, career-based, finance-related work experience. If you 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.

Q: What is the deadline to cancel my appointment with the testing center to ensure that I do not incur the $75 "no show" penalty?

A: If you cannot make your appointment or you are submitting a transfer or deferral request to move your exam to the next testing window, your exam appointment must be cancelled with PearsonVUE at least 24 hours prior to the scheduled appointment.

Q: What is the difference between the standard and final registration deadlines?

A: For exam candidates submitting an application after the standard deadline, and by the final deadline, the cost for the exam increases by $100.

Q: How can I determine if my application and eligibility information has been accepted and approved?

A: You will receive a letter confirming approval of your CTP exam registration and Authorization to Test (ATT) approximately one week after submission of your application and payment or approximately 2 weeks after the current testing window closes. AFP will contact any candidate with any application or payment issues that may delay this approval process.

Q: Why should I schedule my exam appointment in the early part of the exam window rather than the latter part of the window?

A: When scheduling your appointment, you should consider a date early in the window rather than the last week of the window. Should an unexpected job or personal responsibility require you to cancel your appointment to test early in the window, you will have more flexibility when rescheduling your appointment. Candidates who have appointments late in the testing window are frequently required to pay the Transfer fee and move their eligibility to the next testing window when they find that no last minute appointments are available during their current testing window. Note: Candidates are entitled to one transfer per new or re-exam application, so please use your transfer wisely.

Q: How can I submit my application?

A: A CTP exam application can be submitted online, by fax or by mail. Register online. To receive a printable version of the application, please request a copy of the CTP Candidate Information Bulletin.

Q: Does my work experience have to be in treasury/cash management to qualify?

A: No. Your work experience must be in the finance profession, but it is not required that this experience be in treasury/cash management.

Q: Does the exam fee include a copy of the Essentials of Treasury Management textbook?

A: No. AFP provides exam candidates with the ability to purchase the study materials which best suit their needs. Should you opt to use the Essentials textbook for studying, you would be required to indicate this choice on your application and remit the additional fees.

Q: If I am studying for the exam, should I purchase the AFP Learning System: Treasury or Cash Management Fundamentals?

A: The Treasury system will include all the exam content areas. As the Cash Management Fundamentals program only covers sections of this content, it would not be an effective exam study tool.

Q: What is the difference between the AFP Learning System: Treasury university course and the Corporate Treasury Management (CTM) course?

A: The Learning System University course is a 36-hour, non-credit course primarily used for CTP exam preparation. The CTM is a credited course, normally taken as part of an undergraduate- or graduate-level finance studies degree program.

Q: How many questions are there for each exam topic?

A: Review the Essentials of Treasury Management, 2nd Edition, Chapter Outline for more information about the number of questions per CTP exam topic.

Q: Besides the Learning System and the Essentials textbook, what other study materials/options does AFP offer?

A: AFP offers a variety of supplemental study options for CTP exam preparation, including:

• CTP Examination Preparation Guide. This guide includes helpful test-taking techniques as well as 150 sample exam questions. View the preparation guide.
• CTP Exam Study Network. Exam candidates have the option of listing their name and contact information on the Exam Study Network section of the AFP Web site. View this network or sign-up.
• AFP Learning System: Treasury University Courses. To supplement the individual learning offered in the self-directed Learning System program, AFP has partnered with several universities to offer this program as part of an instructor-led course. For a current listing of participating universities and information on registering for these programs, please visit the Education section.
• CTP Exam Review Course at the Annual AFP Conference. AFP will be offering a three-day CTP exam review course at the AFP Annual Conference. View information on registering for this course.
• Regional AFP/TMA Meetings. Regional associations often offer a CTP review course as part of their conferences. View contact and Web information for these regional associations.

Q: What are the advantages of the AFP Learning System: Treasury over the Essentials textbook?

A: In addition to the text located in the Essentials textbook, the Learning System provides an online program which allows users to assess their knowledge of the exam content areas. Through a system of quizzes, tests and application exercises, users have access to over 700 exam-grade questions that simulate the CTP test environment. Learning System users also have the ability to track their performance and are provided with feedback when answering questions incorrectly. Research has shown that Learning System users have a 20% higher passing rate on the CTP exam.

Q: If I purchase the AFP Learning System: Treasury, should I also purchase the Essentials textbook?

A: No. The AFP Learning System: Treasury includes the text of the Essentials textbook in seven printed modules. Therefore, you would want to purchase either the Learning System or the Essentials textbook, but you do not need both.

Q: What is the deadline to cancel my appointment with the testing center to ensure that I do not incur the $75 "no show" penalty?

A: If you cannot make your appointment or you are submitting a transfer or deferral request to move your exam to the next testing window, your exam appointment must be cancelled with PearsonVUE at least 24 hours prior to the scheduled appointment.

Q: I passed the exam. When will I receive my certificate?

A: Certificates for successful exam candidates are issued approximately 4-6 weeks after the candidate sits for the exam.

Q: I took the exam and did not pass. How do I re-register?

A: You can re-register for an upcoming testing window by submitting a Reexamination Registration Form and remitting the $300 reexamination fee. View the registration form.

Q: I previously cancelled my exam registration and was refunded my exam fees. Do I have to submit a full exam application and fees to re-apply?

A: Yes. If you cancelled your first exam registration and received a refund, you are required to submit the full application and remit the full exam fees. If you cancelled a reexamination registration and received a refund, you are only required to submit the Reexamination Registration Form and the remit the $300 reexamination fee.

Q: I registered for a testing window but did not sit for the exam or cancel, defer or transfer my registration with AFP by the indicated deadline. How do I re-register for an upcoming exam?

A: You would be required to submit a Reexamination Registration Form and remit the $300 re-examination fee to re-register for an upcoming testing window.

Q: Can I take the exam more than once in a testing window?

A: No. Exam candidates are allowed to take the exam only once during their scheduled testing window. To retake the exam, you are required to submit a Reexamination Registration Form for the next testing window.

Q: How many times can I retake the exam?

A: AFP does not limit the number of times an exam candidate can retake the exam.

Q: How much will I be refunded if submitting a cancellation request by the deadline?

A: New applicants are refunded the exam fee portion of their exam registration. Any application or membership fees are non-refundable. Re-examinees are refunded the full reexamination fee, minus a $100 processing fee.

Q: What is the deadline to submit a cancellation request and receive a refund?

A: To receive a refund, cancellation requests must be submitted to AFP by the cancellation deadline outlined in the Candidate Information Bulletin.

Q: What is the deadline to submit a transfer or deferral request?

A: Requests to transfer or defer your exam must be submitted to AFP with any applicable fees by the last day of your registered testing window.

Q: I cannot sit for the upcoming testing window but I have already transferred or deferred my registration once. How do I register for a later testing window?

A: If you have previously used a transfer or deferral request to move your exam to your current testing window, you are required to submit a Reexamination Registration Form and remit the $300 reexamination fee to register for a later testing window.

Q: I have recently changed employers or moved. Who do I need to contact to ensure that I receive my testing information?

A: Please make certain to inform AFP of any address or contact information changes. Updates can be submitted to AFP by email at CTP@AFPonline.org or by calling 301.907.2862.

Q: Can I schedule a testing appointment directly with AFP?

A: No. Testing appointments can only be made through PearsonVUE, either by phone or through their Web site.

Q: How close does my ATT have to match the identification I present at the testing center?

A: Your last name should match exactly. Commonly accepted variations on first and middle names will be accepted. Middle initials are also acceptable. A complete list will be on your ATT letter from AFP.

Q: I've registered for the exam. How do I make a testing appointment?

A: Approximately 2-4 weeks after submitting your application you will electronically receive an eligibility letter including your Authorization to Test (ATT) from AFP. Your ATT will include information needed to schedule an appointment.

Q: Why should I schedule my exam appointment in the early part of the exam window rather than the latter part of the window?

A: When scheduling your appointment, you should consider a date early in the window rather than the last week of the window. Should an unexpected job or personal responsibility require you to cancel your appointment to test early in the window, you will have more flexibility when rescheduling your appointment. Candidates who have appointments late in the testing window are frequently required to pay the Transfer fee and move their eligibility to the next testing window when they find that no last minute appointments are available during their current testing window. Note: Candidates are entitled to one transfer per new or re-exam application, so please use your transfer wisely.

Q: What is the passing score for the exam?

A: The exam is based on a scaled score. In this case, each question is worth one point. Your raw score is converted through a statistical formula, revealing a scaled score. Therefore, we cannot indicate an exact number or percentage of questions that need to be answered correctly to pass the exam. As there is no penalty for incorrect answers, we recommend trying to answer each question to the best of your ability.

Q: What is the difference between a transfer and a deferral?

A: Deferral requests are submitted by exam candidates who have a medical and/or family emergency which prevents them from studying for or taking the exam. All other candidates are required to submit a transfer request and remit the $125 transfer fee.

Q: Am I assigned a testing date/time or can I select one on my own?

A: Exam candidates have the option of scheduling an exam appointment for any day during the 60-day testing window. Scheduling is limited only by the availability at the requested testing center. To ensure that you can schedule a day and time that works best for you, make certain to schedule an appointment immediately after receiving your Authorization to Test (ATT).

Q: I cannot take the exam in my registered testing window. How do I move my registration so I can sit in a later testing window?

A: A transfer or deferral request must be submitted to AFP to move your exam registration. Only one transfer or deferral will be accepted per candidate. Candidates submitting a transfer or deferral request will be moved to the next testing window only. If you have already scheduled a testing appointment, you must also contact the testing center and cancel your test date with 48 hours notice. Download the Transfer form | Download the Deferral form

Q: I earned the CTP/CCM certification but did not complete the continuing education requirement of reporting recertification credits and my certification has been revoked. How do I reinstate my certification?

A: If you have allowed your CTP or CCM to lapse, you may register for and pass the current CTP exam to reinstate your certification or apply for reinstatement. To apply for reinstatement, you must request a Reinstatement Application Form from ctp@afponline.org. When submitting the form for review by the Certification Committee, you will be asked to prove that you have earned the required recertification credits and to pay reinstatement fees. Reinstatement is a one time option. If, after being reinstated, your certification is revoked a second time, you will be required to register for and pass the current CTP exam.

Q: How long is my certification valid for before I have to recertify?

A: Certification is valid for three years.

Q: What do I need to do to maintain my CTP/CCM certification?

A: CTPs and CCMs are required to earn and report 36 continuing education credits every three years to maintain their certification.

Q: Am I required to maintain my AFP membership to maintain my CTP or CCM certification?

A: No. While we recommend retaining your AFP membership, it is not required to maintain your certification. Please note, however, that the cost to recertify as a non-member is higher than that for an AFP member.

Q: Do I have to wait until the end of my recertification cycle to submit my credits?

A: No. Credits can be reported at anytime after the required 36 credits have been earned. Please note that your credit reporting does not effect your recertification cycle dates.

Q: What is the deadline to submit my recertification information?

A: The recertification reporting form and fee must be submitted no later than October 15 of the last year of your recertification cycle.

Q: I took the exam in the November/December testing window. Since my first recertification cycle starts on July 1 of the examination year, can I apply credits earned for activities completed prior to taking the exam?

A: Yes. Any activities completed as of July 1 of your examination year will retroactively qualify towards your first recertification cycle.

Q: When does my recertification cycle start and when does it end?

A: All recertification cycles run from July 1 of your examination year to June 30 of the third year. For example, if you sat in the June/July 2003 or November/December 2003 testing window, your first cycle will run July 1, 2003 to June 30, 2006. Subsequent recertification cycles will follow the three year period established by your initial cycle. Please refer to your Certificate of Achievement for your current recertification cycle end date.

Q: I was a permanent CCM and I transitioned to the CTP. What is my first CTP recertification cycle?

A: Initial CTP recertification cycles for all formerly-permanent CCMs begin July 1 of the year you transitioned.

Q: How do I calculate the number of credits I earn for an activity or program?

A: Most programs, including conferences, seminars, workshops, training sessions, teleconferences, and cyberconferences qualify for one credit per 50 minutes of attendance at qualified educational sessions. Independent study programs also qualify for one credit per 50 minutes of instruction and are based on the average completion time determined by the sponsoring organization. Presenters, teachers and lecturers earn 2 credits per 50 minutes of instruction. To calculate credits for these programs, take the total program time, divide by 50 and round down. Determine credits earned for other activities.

Q: I have earned more than 36 credits during my current recertification cycle. Can I apply these additional credits to my next cycle?

A: No. CTPs and CCMs can only report credits earned after the start of a recertification cycle. Therefore, any additional credits earned during your current cycle cannot be applied to your next cycle. However, it is a good practice to report all credits earned in a cycle in the Online Recertification Resource Center reporting tool.

Q: Is there a limit on how many credits I can earn in a year?

A: No. However, some program types do limit how many credits you can report during a cycle. View these credit limits.

Q: How do I report recertification credits to AFP?

A: Recertification credits should be reported online with the AFP Online Recertification Resource Center, or they may be submitted on a CTP and CCM Recertification Reporting Form.

Q: Can I earn credit if I used the Learning System to prepare for the exam?

A: No. Credits are not granted for exam preparation activities or programs. Only CTPs and CCMs who earned their certification on a previous version of the exam can apply the Learning System for credits.

Q: I recently attended a program that qualified for CPE credits. Will this program also qualify for CTP/CCM recertification credits?

A: Finance- and ethics-related programs which qualify for CPE credits will also qualify for CTP/CCM recertification credits. Other CPE-approved topic areas, such as business management, are not approved for CTP/CCM credits.

Q: Are there different criteria for a program to qualify for the CTP as opposed to the CCM?

A: No. The continuing education requirements for both the CTP and CCM are the same.

Q: Does a program have to be pre-approved by AFP to qualify for CTP/CCM recertification credits?

A: No. If a program meets the qualifications for CTP/CCM credits, it is not required that the program be pre-approved by AFP. However, if you are a provider or sponsor of finance-related continuing education activities and would like to promote approval of your program for CTP/CCM credits, you are required to submit a AFP Sponsor Program Registration application.

Q: What topics qualify for CTP/CCM recertification credits?

A: AFP accepts credits earned from finance- and ethics-related continuing education activities. All finance-related programs or activities qualify for CTP and CCM credits EXCEPT: o Sessions specific to organizational products and/or sales o Fundamental or introductory courses in finance or cash/treasury management

Q: Why do certain program types have limits on how many credits can be reported in a recertification cycle?

A: AFP restricts credit reporting for those program types which typically provide a CTP or CCM with a limited scope of additional, industry-applicable knowledge.

Q: Where do I find a listing of the types of programs that qualify for CTP/CCM recertification credits?

A: A listing of program types that qualify for CTP and CCM credits is available

Q: I will not meet the 36 credit requirement by the June 30 recertification cycle end date. What is the deadline to submit an extension request?

A: An extension request, which must be submitted with recertification reporting form and fee, must be submitted no later than October 15 of the third year of your recertification cycle.

Q: I have previously requested an extension and have completed the required credits. How do I report this information to AFP?

A: After completing the additional credits necessary, submit a CTP and CCM Recertification Reporting Form indicating the additional credits and remit the recertification fee.