SIE practice questionmediumOrder Types - Fill-or-Kill
A fill-or-kill (FOK) order instructs a broker to:
- AWait until a specific price is reached
- BExecute at the end of the trading day
- CFill as much as possible and cancel the rest
- DExecute immediately in its entirety or cancel it✓ Correct answer
Explanation
Why D — Execute immediately in its entirety or cancel it
FOK means fill all shares immediately or cancel. End of day, partial fills, or price triggers are different order types.
Turn it into reps
Reading one answer is not the same as being ready
Lucky the Banker is a free practice app with 1,867+ SIE questions, weak-area tracking, and timed mock exams. No credit card, no paywall.
Spot an error in this question or explanation? Tell us — we fix these fast.
Related Trading & Settlement questions
- When determining best execution, a broker-dealer considers:
- What happens when a stop-limit order is triggered?
- Which order type guarantees execution but not price?
- Under FINRA rules, what must a broker-dealer do to meet the best execution obligation?
- Regulation T requires customers to deposit what percentage of the purchase price when buying securities on margin?
- A client wants to buy stock, but only if the price does not exceed $25. What order should they use?
- Which order becomes a market order once a specified price is reached?
- If the equity in a margin account falls below the maintenance requirement, what will the broker-dealer issue?