A $100,000 or more term deposit at a bank is called which one of the following?
A)interbank deposit
B)bankers' acceptance
C)collateralized deposit
D)call bond
E)certificate of deposit

Question

Quizplus · Accepted Answer

A certificate of deposit (CD) is a time deposit with a bank, where the customer deposits a sum of money for a set period of time and receives interest on it. Typically, CDs have higher interest rates than regular savings accounts and are FDIC-insured. A CD with a deposit of $100,000 or more is often referred to as a jumbo CD, but it is still a type of certificate of deposit. Therefore, option E is the correct answer.

A $100,000 or More Term Deposit at a Bank Is