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Retail Banking Industry And Processes MCQs

Which of the following is a characteristic of a certificate of deposit?

You have to earn at least $100,000 in salary to be allowed to buy a CD

It is just a different name for a savings account

It requires that the funds be kept in the account for a minimum fixed period of time e.g. 90 days

Only large banks offer them

Answer

Correct Answer: It requires that the funds be kept in the account for a minimum fixed period of time e.g. 90 days

Explanation:

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