Orders, Returns, and Trade Settlement
Free FINRA SIE (Securities Industry Essentials) lesson in Understanding Trading, Customer Accounts, and Prohibited Activities. 18 min read, ~2,667 words.
Market orders guarantee execution, not price; limit orders guarantee price, not execution. Stop orders become market orders once the stop trigger prints; stop-limit orders become limit orders. Agency trade = commission; principal trade = markup or markdown built into the price. Regular-way settlement is T+1 for stocks, corporate bonds, munis...
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What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Key Takeaways
- Exam Shortcuts
Learning objectives
- C12
- C13
- C14
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