Series 7 - General Securities Representative Exam

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Which order for ABC stock can be filled at $55.62?

Buy 100 shares ABC STOP $55.20
A
Buy 100 shares ABC LIMIT $55.21
B
Buy 100 shares ABC STOP $55.00, LIMIT $54.98
C
Sell 2000 shares ABC limit $55.64
D
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Explanations

A. The buy stop order will be filled at the next available price after it is activated with a trade at $55.20 or higher. Stop orders can be filled away from the stop price - depending on the next trade. B cannot be filled below $55.22, C is a buy stop limit order that cannot be filled above $54.98. D is a sell limit order with a minimum price of $55.64

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