Which of the following are characteristics of negotiable jumbo CDs?
I. Issued in amounts of $100,000 to $1 million.
II. Typically pay interest on a monthly basis.
III. Always mature in 1 to 2 years.
IV. Trade in the secondary market.
A) II and IV.
B) I and IV.
C) I and III.
D) II and III.
Answer: B) I and IV.