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Series 7 Top-Off: Section 2A - Advanced Types of Orders questions n answers
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Series 7 Top-Off: Section 2A - Advanced Types of Orders questions n answers
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Series 7 Top-Off: Section 2A - AdvancedTypes of Orders
The name of an order to buy or sell a particular security at a particular price in its entirety or not at all is:
A: a market order
B: a stop loss order
C: a fill or kill order
D: a stop-limit order - correct answer ✔✔C: a fill or kill order
Which of the following would best describe the term "Mark to the Market"? The difference between the
A: market value of a security and the sale price of the security
B: market value of a security and the contract value of a security
C: market value of a security and the Reg T requirements of a margin account
D: market value of a security and the minimum maintenance requirements in a margin account - correct
answer ✔✔B: market value of a security and the contract value of a security
"Mark to the Market" is adjusting the value of securities in customer accounts to reflect the current
market value. According to the Finra definition, when an investor buys a security, it is referred to as a
contract therefore B is the best answer provided.
A customer puts in an immediate or cancel order to buy 100 ABC Sept 50 calls. At the same time that the
order reaches the floor, a market order also arrives to sell 50 ABC Sept 50 calls. There are no other sell
order on the book. What will happen?
A: The entire 100 call order will go into the book
B: The entire 100 call order will be cancelled
C: 50 of the calls will be filled and the remainder will be cancelled
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