jpowers212

[jpowers212]

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I chose I and III because III is obviously incorrect. III is when you take a short position. I believe 1 to be incorrect over 2 because a market order does not guarantee the best price available at that time and a buy limit order is just a limit on the price you are willing to pay and can be placed at any price regardless if it is above or below the market price (of course you would most likely put it below the current market price).

This is just my rationale of course. I would like to see what others think.

[jpowers212]

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And after I did some research it seems that I am wrong. Statement I is correct according to Schwab.com. Well it says “…best price available at that time.” So maybe I am still right? I think the answers may be to vague. OP please help!

[jpowers212]

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I agree with Maverick that some things just don’t completely make sense in the curriculum and it is frustrating. I’m relatively far behind although I have some basis in Equities, Alt Investments, and Derivatives. I have finished two and a half books at this point and the only one I was able to get through without any issues was the FSA book.

I haven’t purchased the Schweser notes yet. I literally do not have the funds to do so or else I would have already but I think the Q-Bank would be extremely helpful in understanding parts the CFA institute material I cannot seem to grasp.

[jpowers212]

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Terrible sentence construction on the last post. I basically meant: “I don’t have the funds to purchase the material that has the Q-Bank. I think the Q-Bank would be extremely helpful in assisting my understanding of the parts of the CFA institute material that I have trouble grasping.”

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