Q438
Type of negotiable certificate of deposits is usually classified as
A.
primary instrument
B.
bearer instrument
AnswerC.
term instrument
D.
interim instrument
Answer: Option B
Solution
Answer: Option B
Solution:
Type of negotiable certificate of deposits is usually classified as bearer instrument. A bearer instrument, or bearer bond, is a type of fixed-income security in which no ownership information is recorded and the security is issued in physical form to the purchaser.