An example of a time deposit is a deposit in a:
A) checking account.
B) stock brokerage account.
C) savings account.
D) traveler's check balance.

Question

Quizplus · Accepted Answer

A time deposit is a money deposit at a banking institution that cannot be withdrawn for a certain "term" or period of time. Savings accounts are a common type of time deposit, where the money is deposited for an agreed period and often earns interest over that period.

An Example of a Time Deposit Is a Deposit in A