An order to buy or sell a security that lets the broker decide when to execute the transaction and at what price is called a ____________ order.
A)market
B)limit
C)stop
D)round
E)discretionary

Question

Quizplus · Accepted Answer

A discretionary order is also known as a "not held" order because it gives the broker the discretion to determine the timing and price of the execution. The broker will take into account market conditions and make the trade when they believe it is most advantageous for the client's interests. This kind of order is suitable for investors who trust their brokers to make informed decisions on their behalf.

An Order to Buy or Sell a Security That Lets