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      Question

      Certificate of Deposit (CD) can be issued for a maximum

      period of?
      A 14 days Correct Answer Incorrect Answer
      B 1 months Correct Answer Incorrect Answer
      C One quarter (1/4 year) Correct Answer Incorrect Answer
      D 6 months Correct Answer Incorrect Answer
      E 1 Year Correct Answer Incorrect Answer

      Solution

      CDs are short-term borrowings in the form of Usance Promissory Notes having a maturity of not less than 15 days up to a maximum of one year.

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