A time deposit with a fixed maturity date offered by banks is called a
A) checking account.
B) savings deposit.
C) small-denomination certificate of deposit.
D) corporate bond.

Question

Quizplus · Accepted Answer

A small-denomination certificate of deposit (CD) is a time deposit offered by banks with a fixed maturity date and usually in amounts of less than $100,000. Checking accounts and savings deposits do not usually have a fixed maturity date, and corporate bonds are not offered by banks.

A Time Deposit with a Fixed Maturity Date Offered by Banks