Which of the following is true of a certificate of deposit?
A. It is sold by large corporations to raise short-term funds.
B. ?A fall in its demand will lead to an increase in the price of the security and a fall in its yield to maturity.
C. Higher the term to maturity of a certificate of deposit, higher the yield to maturity.
D. ?It is not a liquid security and cannot be transferred from one party to another.
Answer: C
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