The Grumpy Economist has some workshop questions, or perhaps these are pitcher-of-beer questions.
I might ask, "Tom, the Ally Bank CD allows you the option of raising your CD rate once over its two-year life. Can you explain when to optimally exercise that option?'' Or (second beer), "Tom, to what portfolio optimization question is the answer, combine a two-year CD with an American option to raise the rate once? You must have some great robust-control result here about parameter uncertainty in dynamic interest-rate models."The calculus is in the comments.