In oral auctions, theopen-outcryrule refers to:

a.Traders must publicly express all bids and offers so that all traders can act on them.

b.Acceptances must be expressed publicly.

c.The market is open from 9:30am to 4:00pm.

d.All of the above.

e.Only a. and b.

f.Only b. and c.

I'm a seller in a limit order market. I have a lot to sell (20,000 shares). The best bid in the market is $20.10. What type of order should I submit if I'm willing to sell at any price above $20.10 and I don't want the market to see any quantity that cannot executed immediately?

a.Immediate-or-cancel (IOC)

b.All-or-nothing (AON)

c.Fill-or-kill (FOK)

d.None of the above

Which of the following statements is most accurate?

a.Investors who use market orders to buy 100 shares of a liquid stock typically pay the National Best Bid price.

b.Investors who use market orders to buy 1,000 shares of a liquid stock typically pay the National Best Bid price.

c.Investors who use market orders to sell 100 shares of a liquid stock typically receive the National Best Bid price.

d.Investors who use market orders to sell 1,000 shares of a liquid stock typically receive the National Best Bid price.