Thursday, 12 May 2016

Cima P1 Exam Question No 52

Question No 52:

A certificate of deposit is best described as:

A.
A debt instrument which offers a fixed rate of interest over a fixed period of time and with a fixed redemption value.
B.
A negotiable instrument which provides evidence of a fixed term deposit with a bank.
C.
A document which sets out a commitment to deposit a sum of money at a specified point in time.
D.
A certificate which shows ownership of part of the share capital of a company.

Answer: A

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