A Customer Order That Converts to a Market Order When

question 57

Multiple Choice

A customer order that converts to a market order when a preset price is reached is called a(n) ___________ order. However, the pre-specified price on the customer order can be above or below the current price.

• A) Stop
• B) Broker
• C) Market
• D) Limit
• E) Transfer

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Definitions:

Federal Statute

A law enacted by the national government that applies across the entire country.

Provincial Statute

A law or act passed by the legislative body of a province or territory.

Vicarious Liability

The legal responsibility of an entity for the actions of another person, typically in employer-employee relationships.

Strict Liability

A legal doctrine where a party is responsible for damages or loss, not based on fault or negligence, but because they are inherently responsible for a specific outcome.