The Treasury Analyst at an investment firm has entered the company into a repurchase agreement with a counterparty at the direction of the Treasury Manager. The compliance office has determined that the trade was done in violation of the company investment policy. The Treasury Manager has the power to approve the execution of trades; however, the Treasury Analyst was not a designated trader on behalf of the firm. Which area of the investment policy was violated by the Treasury Analyst?

• A.Exception management
• B.Roles and responsibilities
• C.Delegation of authority
• D.Segregation of duties

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All of the following are basic considerations for balance compensation by a company EXCEPT:

• A.relationship management.
• B.annuity factors.
• C.differential charges.
• D.budgeting.

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Which of the following would MOST LIKELY cause a decrease in a company's deposited checks availability?

• A.The Federal Reserve implements same-day presentment.
• B.The company encodes its own checks prior to deposit.
• C.The company's lockbox bank implements weekend processing.
• D.The depository bank institutes an earlier deposit deadline.

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Which statement is true about private placements compared to public offerings?

• A.They reduce issuance costs.
• B.They take more time to complete.
• C.They have more restrictive covenants.
• D.They have lower interest rates.

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Bank A is to pay Bank B $6,000,000 for 10 transactions that occurred throughout the day. Bank B is to pay Bank C $8,000,000 for 13 transactions that occurred throughout the day. Bank B is to pay Bank A $5,000,000 for 17 transactions that occurred throughout the same day. These banks operate using a gross settlement system. How many transactions will
occur between these banks to settle the payments?

• A.2
• B.40
• C.3
• D.30

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