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:

Mortgage

An agreement made between a debtor and a creditor in which the title to property of the debtor is transferred to the creditor as security for payment of the debt.

Secured

Protected by collateral or a guarantee, often referring to loans or obligations.

Unregistered Mortgage

A mortgage that has not been formally recorded with the relevant legal or government authorities, potentially affecting its enforceability.

Default

The failure to fulfill a legal obligation, such as not making a payment on a loan.