Series 7 Exam Question 123: Answer and Explanation

Question: 123

Which of the following access levels of NASDAQ includes subject quotes?

• A. Level I
• B. Level II
• C. Level III
• D. Level IV

Correct Answer: A

Explanation:

A. Level I machines only display the inside market (highest bid and lowest ask price) of securities. This is the type of computer access that you will most likely have when starting your career. Level II machines are the ones used by traders, and Level III machines are the ones where market makers enter their firm quotes.