Series 7 - General Securities Representative Exam

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A broker gets a phone call from a client to sell 5,000 shares of ABC, $55 Limit, DAY. Which of the following is a possible outcome of the order?

Sold 5,000 shares at $54.98
A
Sold 2,000 shares at $54.99
B
Sold 5,000 shares at $55.16 the next day
C
Sold 650 shares at $55.14, sold 4350 shares at $55.08
D

Explanations

First, this is a sell limit order. It cannot be executed for less than $55.00. ( A ) and ( B ) are out. It is also a day order, so it expires at the close. ( C ) is out. Correct answer is ( D )