SIE Exam Practice Question 147

Correct Answer: D

Explanation:

A not-held order gives discretion to the broker as to timing and price for the order's execution. A fill-or-kill order must be executed immediately upon receipt, or it must be cancelled. An all-or-none order indicates that the investor would like all of the securities bought or sold in the transaction or none at all. A market-on-open order indicates the investor's wish to have it executed right at the opening of the market or as close to it as possible.