SIE Exam Question 74: Answer and Explanation

Question: 74

A specialist can handle all of the following types of orders except for

• A. stop orders.
• B. market orders.
• C. AON orders.
• D. buy limit orders.

Correct Answer: B

Explanation:

A specialist cannot accept market orders in that the nature of those types of orders dictates that they be executed as soon as they are presented to the market, and accordingly, there would be at that point no order to leave with the specialist.