FINRA Series 7 General Securities Representative Qualification Examination (GS) Series-7 Question # 103 Topic 11 Discussion
Series-7 Exam Topic 11 Question 103 Discussion:
Question #: 103
Topic #: 11
Bubba entered an order to sell long 100 shares of XYZ at 38.75 stop limit. Thereafter, the following round-lot transactions occurred: 38.75, 38.65, 38.50.
it was never executed. The first transaction at 38.75 elected the order, but since it was both a stop order and a limit order, there was never another transaction at 38.75. Consequently, Bubba’s order was never executed.
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