Trading, Accounts & Prohibited ActsQuestion 222 of 398
An investor enters a limit order and specifies that it should remain in effect until it executes or is canceled, even across multiple trading days. This is known as what type of order?
a.A day order
b.A fill-or-kill order
c.An immediate-or-cancel order
d.A good-till-canceled (GTC) order
Explanation
A good-till-canceled (GTC) order stays active across multiple trading sessions until it is executed or the investor cancels it. A day order, by contrast, expires at the end of the trading day if it is not filled.
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