One of the primary objectives of the Minnesota Association for Financial Professionals is to promote education, communication and enhanced recognition of the treasury management and finance professions. In support of this goal, the Minnesota AFP
has established a scholarship program to assist members who are preparing for the Certified Treasury Professional (CTP) Exam. Two scholarships are available each fiscal year to qualified candidates. Established to be funded annually, each
scholarship will be a maximum of $3,600.00 to (a) provide substantial assistance towards preparing for the exam though AFP Learning System or other qualified preparatory education systems or programs geared towards preparing the student to
successfully sit for the exam and achieve CTP certification and (b) cover the AFP certification cost to sit for the CTP exam.
With these scholarships MNAFP has taken another step towards recognizing that earning the CTP designation is a valuable professional achievement, denoting the standard of excellence in treasury.
Preffered Criteria
It is MNAFP’s intent that scholarships be awarded according to the following criteria:
Active member of MN AFP and qualified to sit for the CTP Exam.
Member of MN AFP for three years or more.
Commitment to sit for the exam within a twelve-month period upon receipt of the scholarship (exam is offered bi-annually in the December/January and June/July time frames).
Preference is given to CTP candidates that would incur substantial out-of-pocket costs with no likelihood of reimbursement from their current employer. Examples would be self-employed individuals or individuals
that work for non-profits or small businesses.
Scholarship Terms & Conditions
All scholarship recipients will be notified via email, and their names will be posted on the MN AFP website. Recipients must sit for the exam within 12 months of initially receiving the scholarship award.
This is a one-time, non-renewable scholarship. The scholarship will be paid to the recipient as a reimbursement of actual and verifiable expenses. If the first attempt fails, the recipient must retake the exam within 12 months. Regardless
of results, we will reimbursement of costs to register and take both exams. We will pay the second attempt registration but not late registration fees. Other reasonable fees required to prepare for the exam are eligible for reimbursement
under this scholarship program. Fees incurred should tie directly and specifically to CTP certification. This scholarship will pay for early registration or final AFP member CTP Exam registration rate of $1270 or $1370 (2018) and a one
year AFP membership fee of $495 (2018). It will also pay a $250 re-exam fee for a second attempt.
Course training and development should reflect materials authorized by AFP and based off the current CTP Body of Knowledge contained in the Essentials of Treasury Management and the AFP Learning System-Treasury or equivalent coursework or
online curriculum. Exam preparation costs are immediately eligible for payment up to the actual MCTC Course fee of $1450 (2019). The official online Learning System and books are included in the course fee and will not be reimbursed separately.
Any travel and lodging expenses shall be the sole responsibility of the recipient.
Payment of the scholarship to the individual will occur either as documented expenses incurred or at the completion of the CTP course of study and testing. We ask that you apply for the scholarship before requesting reimbursement as you risk
that the scholarship(s) for the year was already awarded or being unqualified.
Scholarships must be used by the named recipient with a commitment to sit for the exam, within twelve (12) months of receipt, and may not be transferred to third parties for any reason. The exam is offered bi-annually in the December/January
and June/July time frames.
All decisions regarding the awarding of scholarships are at the sole discretion of MN AFP.
Two scholarships may be awarded per year. Applicants not awarded a scholarship within that time period must re-apply. The Education Committee of the Board will recommend scholarship applications as received. It is the responsibility of the
scholarship awardee to monitor testing deadlines and registration for any classes to maintain eligibility for payment of the scholarship.
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