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Which statement is NOT true for negotiable certificates of deposits? a) They are a discount security issued by large banks into the money market. b)

Which statement is NOT true for negotiable certificates of deposits?

a) They are a discount security issued by large banks into the money market.

b) They are a long-term financial instrument often traded at the stock exchange.

c) They can be bought and sold in the secondary market before the maturity.

d) The negotiable status of the security makes them highly liquid.

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