What is a GIC? Why are rates on GICs higher than those on savings accounts? What factor would most affect your choice of maturity date on a GIC? What is a GIC? O A. AGIC is an account that pools money from individuals and invests in securities that have short-term maturities, such as one year or less. OB. A GIC is a short-term to medium-term, high-quality debt security issued by the Government of Canada. OC. A GIC is an instrument issued by a depository institution that specifies a minimum investment, an interest rate, and a maturity date. OD. AGIC is a cheque written on behalf of an individual that will be charged against a large, well-known financial institution or credit card sponsor's account. Why are rates on GICs higher than those on savings accounts? O A. Rates are higher to compensate investors for tying up their funds for a specified period of time. O B. Rates are higher because there is less risk with GICS. OC. Rates are higher to determine if higher interest rates will attract more customers. OD. Rates are higher because the law requires it What factor would most affect your choice of maturity date on a GIC? O A. The issuing bank OB. The date of issue O C. The desired interest rate OD. The need for liquidity