Series 3: 6.3.1.3. Stop Orders

Taken from our Series 3 Online Guide

6.3.1.3. Stop Orders

Stop orders are orders that go into effect when a particular price is passed or triggered. A stop order becomes a market order once it has been triggered. In other words, once a stop order has passed the specified price, the security or contract will be bought or sold at the best available price. This price may be better or worse than the stop price.

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I initially studied using a different exam prep course (The Securities Institute of America). I waited until I consistently passed the practice exams with a score over 90% before I took the actual exam and unfortunately I failed the exam on my first attempt. I discovered and purchased the Solomon Exam Prep and immediately noticed the studying material was more in depth. I waited until my practice exam score was consistently over 85% and I went to take the actual exam and passed. Thank you so much!! (Series 3)

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