Fixed-term deposits have specified terms, meaning that there is a set period of time that the funds must remain in the account before they can be accessed without penalty. This differentiates them from accounts that are available at call (A) and provide payment services (B). Fixed-term deposits are not known as transaction accounts (D) and cannot be traded in the money market (E).

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Fixed-Term Deposits

Question 59

Multiple Choice

Fixed-term deposits:

A) are funds that are available at call to depositors without penalty
B) provide access to payment services
C) have specified terms
D) are also known as transaction accounts
E) can be traded in the money market.

Correct Answer: