Gavin Has Owned MNOP Stock for Several Years and Has

question 113

Multiple Choice

Gavin has owned MNOP stock for several years and has seen the stock increase in value from $20 to $35. He wants to "lock in" his gains, so he needs to place an order that will sell his stock at the next available opportunity after its market price drops to $33. What kind of order should he use?

• A) Current sale order.
• B) Limit order.
• C) Market order.
• D) Stop-loss order.
• E) None of these.

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Definitions:

License

A legal authorization that grants the licensee the right to use, operate, or engage in an activity that is otherwise illegal, prohibited, or regulated.

Copyrighted Work

A piece of intellectual property that has been legally registered to secure exclusive rights to its creator for reproduction and distribution.

Ten Years

A time period equal to a decade or 10 consecutive years.

Tangible Property

Physical assets that can be seen, touched, and measured, such as real estate, vehicles, machinery, and other material possessions.