Which of the following is one of the PRIMARY considerations when establishing treasury policies and procedures?

• A.Compliance
• B.Consequential damages
• C.Personnel management
• D.Cost avoidance

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Merchant XYZ has total credit card sales of $20,000 for one day with an average ticket of $200. The merchant's interchange reimbursement fees are 2% and transactions fees are $0.05. This merchant receives net settlement. Which of the following is the value of the deposit for that day?

• A.$20,000
• B.$19,995
• C.$19,600
• D.$19,595

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A put option is out of the money when the asset price:

• A.is less than the strike price.
• B.exceeds the strike price.
• C.is unchanged relative to the purchase price.
• D.is equal to the strike price.

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Which of the following will directly increase a company's cost in a fee-only bank relationship?

• A.A decrease in ledger balances
• B.A decrease in the reserve requirement
• C.An increase in the ECR
• D.An increase in transaction activity

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The before-tax cost of long-term debt is 10% and the cost of equity is 12%.

The marginal tax rate is 35%. The company's weighted average cost of capital is:

• A.6.3%.
• B.10.6%.
• C.8.3%.
• D.11.3%.

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