CTP Practice Test 10

10 free CTP practice questions in the real exam format, covering the official content areas, with an explanation for every answer.

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Question 1 of 10

Manage internal and external relationships

Westbrook Dairy: account analysis statement, April (30 days) — balance summary
Balance item	Amount
Average ledger balance	$2,450,000
Average float	$350,000
Average collected balance	$2,100,000
Reserve requirement (bank-stated)	0%
Earnings credit rate (annual)	2.40%

The bank applies the ECR to the average collected balance on a 360-day basis (credit = balance × ECR × days ÷ 360).

Service charges, April
Service	Volume	Unit price	Charge
Account maintenance	6	$45.00	$270
ACH credits originated	18,000	$0.08	$1,440
Outgoing domestic wires	120	$18.00	$2,160
Checks paid	1,500	$0.20	$300
Positive pay items	1,500	$0.04	$60
Lockbox items processed	3,900	$0.50	$1,950
Total service charges			$6,180

Using the April account analysis statement for Westbrook Dairy, what net service charge will Westbrook be debited for April after the earnings credit? Round to the nearest dollar.