SIE practice questioneasyGTC Orders
A Good-Til-Canceled (GTC) order differs from a day order in that a GTC order:
- ACan only be placed for round lots
- BMust be executed within one hour of placement
- CRemains open until executed or canceled by the investor✓ Correct answer
- DGuarantees execution at the specified price
Explanation
Why C — Remains open until executed or canceled by the investor
A GTC order remains in effect until it is either executed or canceled by the investor (though broker-dealers may set maximum time limits, such as 90 days). A day order, by contrast, expires at the end of the trading day if not executed. GTC has no hourly time limit (A), applies to any lot size (C), and like all limit orders does not guarantee execution (D).
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