The market for XYZ is bid 90.50, offered at 90.52. An order arrives to, "Buy limit 90.51." This order is considered to be:

a.A market order

b.A non-marketable limit order

c.A marketable limit order

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 Offer price.

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

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

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

You have purchased 10,000 shares of E*Bay on margin at a price of $40.00 per share. You have a day job that prevents you from monitoring the market during the trading day. What type of order can you use if you are worried that your broker will liquidate your account if the price of E*Bay falls to $26.00 per share? Currently, the National Best Bid Price for E*Bay is $42.12 (300 shares bid) and the National Best Offer price for E*bay is $42.19 (800 shares offered).

a.A limit order to sell 10,000 shares of E*Bay at a price of $30.00 per share.

b.A stop limit order to sell 10,000 shares of E*Bay at a price of $27.00 per share with a stop price of $55.00.

c.A market order to sell 10,000 shares of E*Bay.

d.A stop market order to sell 10,000 shares of E*Bay with a stop price of $27.00.