SIE practice questionhardOrder Types
A not-held order gives the broker discretion regarding:
- ATime and price of execution within the trading day✓ Correct answer
- BWhich security to purchase
- CWhether to accept the order
- DThe total number of shares to buy
Explanation
Why A — Time and price of execution within the trading day
Not-held orders permit time and price discretion for the day. The broker cannot select securities or quantities unless the client provides written discretionary authority.
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