Certified Treasury Professional Syllabus 2026 + Free PDF
The Certified Treasury Professional certification from the Indian Institute of Banking & Finance (IIBF) is a specialised qualification for bankers who work in, or aspire to join, the treasury and dealing-room function. To clear it efficiently you need three things: a precise map of the syllabus, awareness of what has recently changed in the markets and regulations, and good practice material. This exhaustive guide covers the complete Certified Treasury Professional syllabus for 2026 module-by-module, flags the topics that have been updated, and links you to free tests, one-liners, notes and games to prepare faster. You can also download the official syllabus PDF below.
📥 Download the Full Treasury Management Syllabus (PDF)
The complete, exam-ready Certified Treasury Professional syllabus in one PDF — keep it open while you plan your study weeks.
Download Treasury Syllabus PDF →What is the Certified Treasury Professional Course?
The Certified Treasury Professional programme builds deep, practical expertise in treasury operations, money markets, foreign-exchange dealing, fixed-income securities and treasury risk management. It suits dealers, mid-office and back-office staff, asset-liability management (ALM) teams, and any banker who wants to understand how a modern integrated treasury manages liquidity, interest-rate risk and currency risk.
The course runs from the structure and functions of a treasury — the front, mid and back office — all the way to derivatives, valuation, regulatory capital and the technology and accounting that hold it together. In short, it is a complete toolkit for the markets side of a bank.
Certified Treasury Professional Exam Pattern
The Certified Treasury Professional examination is an objective, MCQ-based test delivered through IIBF's standard mode. Questions are application- and case-study-oriented rather than simple definition recall, so conceptual clarity and numerical practice — pricing a forward, computing duration or interpreting a VaR number — matter far more than rote learning. Always confirm the current number of questions, duration, marking scheme and passing marks from the latest IIBF examination notification before you register, as IIBF revises these periodically.
Certified Treasury Professional Syllabus 2026 – Chapter-Wise
The Treasury Management course is organised into thematic modules that move from fundamentals to instruments, risk and regulation. Here is the complete topic-wise breakdown:
| Module | Topic | What you learn |
|---|---|---|
| A | Introduction to Treasury | Role, evolution and functions of an integrated treasury in a bank. |
| A | Treasury Organisation & Structure | Front, mid and back office — roles, segregation of duties and controls. |
| A | Domestic Money Market | Call/notice money, TREPS, T-Bills, CDs, CPs and short-term liquidity management. |
| B | Capital & Debt (G-Sec) Market | Government securities, bond yields, auctions, SLR investment book. |
| B | Foreign Exchange Markets | Spot, forward and swap quotations; cross rates; FEDAI conventions. |
| B | Exchange-Rate Arithmetic | Premium/discount, interest-rate parity and forward-rate computation. |
| C | Treasury Products & Instruments | Bonds, equities, money-market and forex instruments in the treasury book. |
| C | Derivatives — Futures, Options & Swaps | Interest-rate and currency derivatives for hedging and trading. |
| C | Bond & Securities Valuation | Yield, duration, modified duration, convexity and price sensitivity. |
| D | Treasury Risk Management | Market, liquidity, credit and operational risk; VaR, MTM and limits. |
| D | Asset-Liability Management (ALM) | Gap analysis, duration gap and the ALCO's role in managing the balance sheet. |
| D | Regulation & Capital (Basel) | RBI prudential norms, capital charge for market risk and Basel framework. |
| E | Treasury Settlement & Clearing | CCIL, NDS-OM, RTGS, SWIFT, Nostro reconciliation and settlement risk. |
| E | Treasury Accounting & Technology | Valuation accounting, P&L, MIS and the role of treasury systems. |
Note: the table groups the official Treasury Management topics by theme. The IIBF courseware is delivered as a single integrated syllabus — always cross-check the exact module ordering and unit list against the official PDF before you finalise your study plan.
🆕 Recently Updated Topics You Must Not Miss
Treasury regulations and market infrastructure move fast, and the paper increasingly tests the latest position. Pay special attention to these recently revised areas (always cross-check the exact current figures against the latest RBI / FIMMDA / FEDAI source):
- Policy rates & the liquidity framework: The RBI's repo rate, the LAF corridor and tools such as the Standing Deposit Facility (SDF) and Variable Rate Repo/Reverse Repo directly drive money-market rates. Revise the current rate stance and corridor from the latest RBI monetary policy statement.
- Market infrastructure & trading platforms: Settlement and trading have evolved with TREPS, NDS-OM, the FX-Retail platform and expanded access for retail investors to G-Secs (Retail Direct). Study the current platforms and how they clear and settle through CCIL.
- Derivatives & hedging norms: RBI has updated its directions on rupee interest-rate derivatives and foreign-exchange derivatives, including who may hedge and permitted products. Make sure you study the latest position rather than older circulars.
We keep our Treasury Management notes and tests synced with these updates, so the figures you revise here stay current.
Quick Certified Treasury Professional One-Liners for Revision
Use these rapid-fire one-liners to lock in the high-yield treasury concepts before the exam:
Free Certified Treasury Professional Study Resources on Learning Sessions
A syllabus is only the start — you clear this exam by practising. Use the full Learning Sessions toolkit, all built around this exact syllabus:
- 📝 Chapter-wise Treasury mock tests — timed, exam-pattern MCQs with instant answers and explanations.
- ⚡ Chapter one-liners — bite-sized revision points (a sample set is above) for last-mile prep.
- 🎮 Matching games — gamified drills that make treasury terms, instruments and risk metrics stick.
- 📚 Detailed notes & study-material PDFs — module-by-module notes you can download and revise offline.
- 🎥 Live and recorded classes — concept-building sessions by Ashish Jain for every treasury topic.
Test Yourself — Certified Treasury Professional Practice Questions
Try these hard, application-based questions. Tap Show Answer to check yourself and read the reasoning:
Q1. A bank's mid office reports that the trading book's one-day 99% VaR has breached its sanctioned limit after a sharp move in bond yields. Which action is the most appropriate immediate response?
- a) Ignore it because VaR is only an estimate
- b) Escalate to risk management and require the front office to reduce the position to within limit
- c) Increase the VaR limit to accommodate the position
- d) Move the position to the back office
✅ Show Answer
Answer: b) Escalate to risk management and require the front office to reduce the position to within limit
The mid office is the independent risk-control function. A limit breach must be escalated and the dealer required to bring the exposure back within the approved limit — limits are not raised simply to accommodate an existing position, and the back office only handles settlement.
Q2. INR/USD spot is 83.00 and the 3-month forward is quoted at 83.60. What does this imply?
- a) The rupee is at a forward premium to the dollar
- b) The dollar is at a forward premium to the rupee
- c) Indian interest rates are lower than US rates
- d) There is no interest-rate differential
✅ Show Answer
Answer: b) The dollar is at a forward premium to the rupee
The dollar buys more rupees forward (83.60 > 83.00), so USD trades at a forward premium and INR at a forward discount. Under covered interest parity this reflects higher INR interest rates relative to USD.
Q3. A treasury holds a long position in a 10-year G-Sec. To hedge against an expected rise in interest rates, the dealer should most appropriately:
- a) Buy more of the same bond
- b) Pay fixed in an interest-rate swap / sell bond futures
- c) Receive fixed in an interest-rate swap
- d) Reduce the duration of the liability side only
✅ Show Answer
Answer: b) Pay fixed in an interest-rate swap / sell bond futures
A long bond position loses value when rates rise. Paying fixed in an IRS (or selling interest-rate/bond futures) gains when rates rise, offsetting the loss — a standard duration hedge. Receiving fixed would add to the loss.
Q4. Which statement about the segregation of treasury functions is CORRECT?
- a) The front office should also confirm and settle its own deals
- b) The mid office should report to the head of the dealing room
- c) The back office must be independent of the front office to prevent unauthorised dealing
- d) The same dealer should book and reconcile trades for efficiency
✅ Show Answer
Answer: c) The back office must be independent of the front office to prevent unauthorised dealing
Sound treasury governance requires clear segregation: the front office deals, the back office settles and reconciles independently, and the mid office controls risk independently. Letting dealers settle or reconcile their own trades is a major control failure.
Q5. A bank wants to deploy surplus overnight funds with minimal risk. Which money-market avenue is most suitable?
- a) A 10-year corporate bond
- b) The LAF reverse repo / TREPS (tri-party repo) market
- c) An equity index future
- d) A long-dated currency forward
✅ Show Answer
Answer: b) The LAF reverse repo / TREPS (tri-party repo) market
Overnight surplus is typically parked in collateralised, very short-tenor instruments such as TREPS or the RBI's reverse-repo window — low credit and market risk. Long-dated bonds, equity futures and FX forwards carry far higher risk and tenor mismatch.
Q6. Marking the trading book to market (MTM) at the end of the day primarily helps a treasury to:
- a) Avoid paying tax on gains
- b) Recognise unrealised gains/losses and measure true risk exposure
- c) Convert the trading book into a held-to-maturity book
- d) Eliminate the need for VaR limits
✅ Show Answer
Answer: b) Recognise unrealised gains/losses and measure true risk exposure
MTM revalues positions at current market prices so the bank sees unrealised P&L and its real exposure, which feeds risk metrics and provisioning. It does not change tax treatment, reclassify the book, or replace VaR limits.
How to Prepare for the Certified Treasury Professional Exam
Because the paper is application-driven, a module-by-module approach works best:
- Build the base (Introduction & structure): lock in the role of treasury and the front-mid-back office segregation — the conceptual spine of the paper.
- Master the markets (money market, G-Sec, forex): the scoring heart of the syllabus — drill exchange-rate arithmetic, forward premiums and bond-yield sums until they are automatic.
- Cover instruments & valuation (products, derivatives, duration): understand how futures, options and swaps hedge interest-rate and currency risk, and practise duration and price-sensitivity calculations.
- Finish with risk & regulation (VaR, ALM, Basel, settlement): these carry direct, factual marks on limits, capital and market infrastructure.
- Revise with mocks + one-liners + games: alternate full-length mock tests with one-liner revision and matching games so accuracy and speed climb together.
Frequently Asked Questions
Is the Certified Treasury Professional course worth it?
Yes. For anyone working in or moving towards a dealing room, mid office, back office or ALM team, this certification builds directly job-relevant skills and signals treasury expertise to employers — one of the most practical IIBF specialisations for the markets side of banking.
What background helps for the Treasury Management exam?
Comfort with basic numeracy and percentages helps, since the paper involves exchange-rate arithmetic, bond yields and duration. Beyond that, conceptual clarity on money markets, forex and risk management matters more than any prior finance degree.
Where can I download the Treasury syllabus PDF?
You can download the complete Certified Treasury Professional syllabus PDF from the button above — it lists every module and topic in the official IIBF order.
How should I keep up with updated topics?
Follow RBI monetary-policy statements and Master Directions on derivatives, FEDAI/FIMMDA circulars, and use our regularly-updated Treasury notes and mock tests, which reflect the latest rates and market-infrastructure changes.
Start Your Treasury Preparation Today
A clear syllabus is half the battle. Download the Treasury Management syllabus PDF, map each module to a study week, revise with one-liners and games, and back it all with timed mock tests. With a structured plan and consistent practice on exchange-rate arithmetic, bond valuation and risk metrics, the Certified Treasury Professional certification is well within reach.
Take a free mock test, download chapter PDFs, or watch a video class — all included on iibf.store.
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