An adviser is granted authority to decide only the price and time at which to execute a client-specified purchase of a particular security. This is best described as:

Giải thích

Deciding only the price and time to execute an order that the client has already specified as to security and amount is considered limited time and price discretion, and it is generally not treated as full discretionary authority. Full discretion, choosing the security or quantity without prior client direction, requires written discretionary authorization. This distinction affects the documentation an adviser must obtain.