What is the difference between CDs and Savings Accounts?

I. CDs have fixed time but savings accounts have not
II. CDs have fixed interest rate but savings accounts have not
(A) I only
(B) II only
(C) I and II
(D) I or II

The answer is: (C) I and II
Certificate of deposits (CDs) usually have a fixed time period for which a fixed interest is paid.