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GFOA CPFO Exam - Topic 6 Question 12 Discussion

Banks offer following short-term, loans, EXCEPT:
D) None of these
A) A line of credit against which a specified dollar amount may be drawn with interest paid, usually monthly
B) Bond anticipation notes (BANs) in anticipation of future long-term financing
C) Tax anticipation notes (TANs) or revenue anticipation of taxes or other revenue that will be received

GFOA CPFO Exam - Topic 6 Question 12 Discussion

Actual exam question for GFOA's CPFO exam
Question #: 12
Topic #: 6
[All CPFO Questions]

Banks offer following short-term, loans, EXCEPT:

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Suggested Answer: D

by My at May 03, 2022, 07:17 PM

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Dominga
11 months ago
I thought all of these were short-term options!
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Shantell
11 months ago
Wait, are you sure about that? Sounds off to me.
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Sheron
11 months ago
TANs are common too, so none of these are exceptions.
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Georgiana
12 months ago
I agree, but BANs are also short-term, right?
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Mindy
12 months ago
A line of credit is definitely a short-term loan.
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Elmira
12 months ago
I feel like "None of these" could be the answer since they all seem to be short-term financing options.
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Ashley
12 months ago
Tax anticipation notes definitely sound familiar, but I can't recall if they fit the definition of short-term loans.
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Theodora
12 months ago
I remember studying about lines of credit, but I'm not sure if they count as short-term loans.
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Fabiola
12 months ago
I think bond anticipation notes are technically short-term, but they seem different from the others listed.
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Viola
12 months ago
This is a tricky one. I'm going to have to think it through carefully. The wording is a bit confusing, but I'll do my best to work it out.
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Elza
1 year ago
Hmm, this seems like a tricky one. I'll need to think carefully about the differences between type-1 and type-2 hypervisors.
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Sabrina
1 year ago
Alright, this is a good one. I feel pretty confident about my understanding of this topic, so I'll carefully consider each option and try to eliminate the incorrect statement.
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