Words or sentences can be used in IELTS Speaking Task2 A significant item
I have prepared candidates for the IELTS exam, and I am very familiar with these cue cards for speaking part two.
If you read the task carefully, it asks for something you own, this refers to a physical object that is in your possession.
By responding time I am afraid that the speaking examiner will think you have misunderstood the task. I fully understand that time is a valuable resource, it is for everyone, but every living person has time. It is not something that you received as a birthday present nor is it something that you physically possess and could, one day, gift it to another person. In an essay or in a letter, it could be a really good idea, and you would have time to develop your ideas, but in the speaking exam, spontaneity and fluency is more prized.
On the day of the exam, you will only have a minute to jot down your answer and then you'll have to talk, uninterrupted, for about two minutes. The examiner will keep track of the time and when the two minutes are up, they will tell you to stop. It is therefore more important that you answer all three points within the two minutes allocated about an object that holds sentimental value than about abstract concepts. It's banal, I know, but examiners aren't really concerned with originality. They just want to hear you speak confidently about a familiar topic in English.