Series 7 - General Securities Representative Exam
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 $54.98A
Sold 2,000 shares at $54.99B
Sold 5,000 shares at $55.16 the next dayC
Sold 650 shares at $55.14, sold 4350 shares at $55.08D
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 )