Test deliverables are nothing but documents preparing after 
testing like test plan document  testcase template 
bugreport template 
 correct me if i am wrong

Test Deliverables are nothing but all the documents and 
reports that will be delivered during the testing cycle.
e.g. the deliverables of system testing phase are
- System Test Plan
- System test conditions(requirements)
- System test scripts(cases)
- System test completion report
- Outstanding bug report
- Weekly status report(ideally sent to PM or Test manager)

Sirisha,

I partially agreed with you,because Test deliverables will 
be delivered to the client not only for the completed  
activities ,but also for the activites,which we are 
implementing for the better productivity.(As per the 
company's standards).
Here I am giving you some of the Test deliverables in my 
project.
1.QA TestPlan
2.Testcase Docs
3.QA Testplan,if we are using Automation.
4.Automation scripts
5.QA Coverage Matrix and defect matrix.
6.Traceability Matrix
7.Test Results doc
8.QA Schesule doc(describes the deadlines)
9.Test Report or Project Closure Report.(Prepared once we 
rolled out the project to client)
10.Weekly status report(sent by PM to the client)
11.Release Notes.

The list of all the documents that are delivered in the
testing department will be call its as test deliverables.

1. Test case document
2. Test plan document
3. Review Report
4. Defect Profile
5. Test Summary Report etc

At the end of each testing cycle testing team deliver some 
documents along with done mail (PM or clients) are called 
Test Deliverable. These are 
Defect Validation Report
Test Result or Test Status Report
Open Defect Report
Test Scenarios Sheet
Test Case
Test Plan
Release Notes
Test Coverage Matrix


it can be more..... depends on project or client requirement