2023 Conference CTP Exam Prep Track

Attendees desiring to take the CTP Exam Prep must register for it upon registering for the conference to ensure that course materials are available for all sessions.

NOTE: It is recommended, but not required, that you have reviewed the most current The Essentials of Treasury Management book prior to attending the CTP Track.


 Instructor:  Dubos J. Masson, PhD, CTP, Cert ICM

Dr. Masson is a Clinical Professor of Finance at Indiana University’s Kelley School of Business and is a frequent conference speaker and author in a variety of financial and treasury management areas.  His areas of specialty include:  treasury management, working capital management, global cash management, risk management and corporate valuation.  D.J. is also an instructor and curriculum developer for the Association for Financial Professionals (AFP) and Director of the AFP Corporate Financial Analysis and Planning Workshop at the Kelley School.  In addition, he is the author/editor of the first and third editions of AFP’s Essential of Treasury Management.  He has an MBA and PhD in Finance from Indiana University and he holds both the CTP (Certified Treasury Professional) and FPAC (Corporate Financial Planning and Analysis) certifications from the AFP.

Instructor:  Ray Vines, CTP

Mr. Vines is CFO and Trainer for Turningpoint Communications, a national Treasury Management-focused thought leadership promotion company. An industry champion and leader with over thirty years of corporate treasury practitioner experience, Ray contracts with large corporations to enhance and streamline their current processes to achieve operational efficiencies, cost savings, and greater productivity. He is a frequent presenter at regional and national conferences and is an instructor for Rice University’s CTP review class for the Association for Financial Professionals (AFP). He earned a BBA in Finance and an MS in Accounting from the University of North Texas. Ray is licensed in the state of Texas as a CPA (Certified Public Accountant) and holds the CTP (Certified Treasury Professional) certification from the AFP.


Sunday Afternoon, May 21, 2023

Session #1 (1:00 – 2:30 pm): Essential Learning for CTP Candidates

¨       Dispelling Common Misconceptions About the CTP Exam

¨       How ETM is Created & the CTP Exam is Developed

¨       Successful Tips & Techniques for Preparing for & Passing the CTP Exam

This session will cover common misconceptions about the CTP Exam that lead candidates to make assumptions that are incorrect.  Incorrect assumptions can set up candidates for failure even before they embark on a course of study and exam preparation. Learning how Essentials of Treasury Management (ETM7) is created and how the CTP Exam is developed is the starting point for enabling candidates to have a factual and realistic understanding of what they need to learn in order to earn the credential.  This session also offers candidates proven tips and techniques for preparing for the CTP Exam and for ensuring the best chance of passing. The session concludes with a discussion of the new Body of Knowledge text (ETM7).

Session #2 (2:45 – 4:45 pm): Banks, Payment Systems and Relationship Management

¨       ETM7-Ch 03: Banks and Financial Institutions

¨       ETM7-Ch 04: Payment Systems

¨       ETM7-Ch 07: Relationship Management and Vendor Selection

This session begins the coverage of the specific materials from ETM7. In this session, banks and financial institutions will be discussed, as well as how various payment systems (both U.S. and global) operate. The session ends with a detailed discussion of relationship management, vendor selection and the calculations involved in bank account analysis statements.

Monday Morning, May 22, 2023

Session #3 (9:45 – 10:45 am) Basics of Financial Statements – FP&A

¨       ETM7-Ch 08: Financial Accounting and Reporting

¨       ETM7-Ch 09: Financial Planning and Analysis

This session will cover the basics of financial planning and analysis, as well as other key financial and accounting concepts. The standard financial statements (balance sheet, income statement and statement of cash flows) are outlined as well as the use of ratio analysis to determine the financial health of the company. The important ratios covered include those related to liquidity management, debt management/coverage and asset management.  In addition to financial analysis, this session will discuss performance measures such as return on investment, residual income and Economic Value Added (EVA).

Session #4 (11:00 – 12:00 pm): Working Capital Management

¨       ETM7-Ch 10: Introduction to Working Capital Management

¨       ETM7-Ch 11: Working Capital Metrics

This session covers both the basics and the metrics (calculations) used in the area of working capital management. These topics include: cash conversion cycle, management of key working capital accounts (accounts receivable, inventory, accounts payable), and the investment and financing of working capital. The section on working capital metrics covers many of the important calculations used in the area, including days sales outstanding, aging schedules and payment pattern analysis.

Monday Afternoon, May 22, 2023

Session #5 (1:45 pm – 2:45 pm): Money Markets & Capital Markets

¨       ETM7-Ch 05: Money Markets

¨       ETM7-Ch 06: Capital Markets

This session opens with a discussion of the basics of money markets and how they function. The session continues with coverage of the different money market instruments and techniques used for the short-term working capital needs of the company. These include descriptions of different types of money market securities, as well as how these instruments are priced, yields are calculated and investments managed. This session continues with a discussion of the basics of the long-term side of financial and treasury management. The different types of securities discussed include: coupon bonds, convertible bonds, preferred stock and different forms of common stock. The procedures involved in the actual issuance of these securities are covered as well as the role of investment bankers in the process.

Session #6 (3:00 pm – 4:00 pm): Short-Term Investing/Borrowing

¨       ETM7-Ch 13: Short-Term Investing and Borrowing

This session provides coverage of short-term investing, including calculations related to yield and security pricing. The session also covers financing from the borrower’s perspective, including the calculation of the costs on bank lines of credit and commercial paper.

Tuesday Morning, May 23, 2023

Session #7 (9:00 – 10:00 am): Review of Basic CTP Calculations

¨       An Overview of CTP Math, Tips and Techniques for Approaching CTP Math

¨       Taking the Fear Out of CTP Math for “Mathaphobes”

This session will involve an overview of CTP math.  It will not be the first time formulas and calculations are introduced.  Any math associated with the relevant topics covered in the earlier sessions will have already been discussed in context.  The difference is that this session will focus on the more challenging formulas and calculations found throughout ETM7.  Along with math tips and techniques for all CTP candidates, the instructors will specifically address overcoming the “fear factor” for those CTP candidates who have had very little exposure to financial mathematics or for whom it has been decades since they last took a college course involving financial formulas and calculations. 

Session #8 (10:15 – 11:15 am): Legal and Regulatory Environment & Forecasting

¨       ETM7-Ch 02: Legal and Regulatory Environment

¨       ETM7-Ch 14: Cash Forecasting

This session begins the coverage of the specific materials from ETM7. This chapter was significantly updated in the current edition (ETM7), and we will cover most of these updates in this session. Some of the changes include: updated coverage of areas of financial regulation, global standard setting, Dodd-Frank and Volker rule, and changes to payment systems. This session also provides with a detailed discussion of cash forecasting, focusing on the calculations involved in this area, including the receipts and disbursements forecast.

Session #9 (11:30 – 12:30 pm): Risk Management

¨       ETM7-Ch 16: Enterprise Risk Management

¨       ETM7-Ch 17: Financial Risk Management

The session provides a general overview of risk management in treasury, including concepts such as financial risk, operational risk and enterprise risk management. The session concludes with coverage of the use of financial derivatives such as forwards, futures, options and swaps in the area of financial risk management. The focus is on how companies use these instruments to hedge their exposures in various areas and markets.

Tuesday Afternoon, May 23, 2023

Session #10 (1:45 – 2:45 pm): Collections, Concentration & Disbursements

¨       ETM7-Ch 12: Collections, Concentration & Disbursements

 This session provides a review of the basic cash management topics of collections, concentration and disbursement of funds. This session includes coverage of Lockboxes and other collection methods, minimum transfer calculation for funds concentration and bank disbursement accounts and products.

Session #11 (3:00 – 4:00 pm): Capital Markets & Management

¨       ETM7-Ch 19: Long-Term and Capital Instruments

¨       ETM7-Ch 20: Capital Structure Decision and Management

Included is a discussion of the calculations involved the pricing, valuation and yields of long-term securities. This session will also cover financial decisions and management in the treasury area, including capital structure, dividend policy, cost of capital and leasing decisions.

Wednesday Morning, May 24, 2023

Session #12 (9:00 am – 11:30 am): Advanced CTP Math

¨       Methods the Test-Makers Use to Reverse Equations

¨       Math Short-Cuts

¨       When Panic Sets In:  Better to Calculate Than Never

¨       Overview of Material NOT Covered in this Training

This session will demonstrate methods used by test-makers to reverse equations.  This does not apply to all formulas; however, it does apply to formulas that can be expressed algebraically.  In addition, the instructors will demonstrate math shortcuts that will enable candidates to logically eliminate some of the answers on a math problem or to derive the answer without having to go through all of the steps. We will briefly discuss the materials from ETM7 that are NOT covered in these sessions, but which ARE covered in the supplemental handouts and on-line course materials.

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