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Certified Trust and Financial Advisor (CTFA) (CTFA) - American Bankers Association Exam Questions

Last updated on June 20, 2026

97% Exam Compliance
894 Total Questions
1
Question
Asset and liability management is:
Options
A An approach of specific assets and liabilities in a financial statement that requires correct mix of long and short term revenues.
B An approach of mix assets and liabilities in a financial statement that requires specific long and short term revenues.
C An approach of matching assets and liabilities that requires a correct mix of long and short term investments.
D An approach of mix assets and liabilities in a financial statement that requires specific long and short term revenues.
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2
Question
Unlike trust, there is no conveyance of title to the account assets. When the established; legal title to the property remains with the principal. ________ relationship is
Options
A Guardianship
B None of these
C Estate Administration
D Agency Services
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3
Question
If an investment banker has agreed to sell a new issue of securities on a best-efforts basis, the issue:
Options
A Results in no assumption of underwriting risk by the investment banker
B Most likely involves bonds instead of common stock
C Most likely involves an unusually large stock offering
D Most likely involves a well-established, large company
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4
Question
Many health insurance plans omit or offer only reduced benefits for treatment of mental disorders.
For example, a health insurance policy may offer hospitalization benefits that continue to pay as long
as you are hospitalized except for mental illness. It may restrict payment for mental illness to one- half of the normally provided payment amounts and for a period not to exceed:
Options
A 25 days
B 20 days
C 15 days
D 30 days
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5
Question
Audit risk consists of:
Options
A Risk of material misstatement
B Neither A nor B
C detection of risk
D Both A & B
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