Series 7 - General Securities Representative Exam

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ABC stock closed at $65. The next day, Mr. Xi placed a sell order for 500 shares of ABC at the market. What will be his execution price?

Less Than $65
A
More Than $65
B
Exactly $65
C
Unknown
D

Explanations

Unknown. Market orders are executed at the best available price when executed. Since we do not know the price the next day, we do not know what the executed price will be