A Time Deposit That Has a Denomination Greater Than $100,000

question 102

Multiple Choice

A time deposit that has a denomination greater than $100,000 and is generally for wealthy individuals and corporations is known as a:

• A)negotiable CD.
• B)bump-up CD.
• C)step-up CD.
• D)liquid CD.
• E)None of the options is correct.

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Definitions:

Common Law Doctrines

Fundamental principles that emerge from judicial decisions over time rather than from statutes or constitutions.

U.S. Constitution

The supreme law of the United States, establishing the framework of the national government, fundamental principles, and rights of citizens.

Treaties

Formal agreements between two or more sovereign states, outlining the terms of the agreement and governed by international law.

Statutory Law

The body of written laws enacted by the legislature.