1. What are some of the characteristics of an organized securities exchange?
2. Describe the types of members of the New York Stock Exchange (NYSE).
3. Why is there a difference between bid and ask prices at some point in time for a specific security?
4. Describe the differences among the following three types of orders: market, limit, and stop loss.
5. What is a short sale?
6. Describe buying on margin.
7. What is program trading?
8. Describe several differences between the organized exchanges and the over-the-counter (OTC) market.
9. What factors differentiate a good market from a poor market?
10. A security's liquidity is affected by what influences?