1. At the beginning of the trading day, John places a limit sell order for 500 shares of DEF stock at $75/share while DEF is trading at $72/share. Throughout the course of the day, DEF trades between a range of $71-$74 per share. Which of the following could occur with John's brokerage account if his order was a day order?
John's order is executed at $71/share.
John's order is executed at $74/share.
John's order is executed at $72/share.
None of the above
2. You just placed a stop limit order to sell 900 shares at $50 stop, $47 limit. Which one of the following statements is correct concerning this order if the current market price is $48?
The broker will attempt to sell the stock at the current market price.
The broker will only attempt to sell the stock once it reaches $50.
The broker will wait to see if the price climbs to $50 before selling the shares.
None of the above