Canadian Securities Course (CSC) Level 1 Practice Exam

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What is a day order vs a Good through order?

A day order is valid for one trading day, while a Good through order is valid for one week.
A day order expires at the end of the trading day, while a Good through order expires at the end of the week.
A day order expires at the end of the day. A Good through order expires after a specified number of days.
A day order is only for buying, while a Good through order is for selling.

The correct answer is: A day order expires at the end of the day. A Good through order expires after a specified number of days.

A day order is valid only until the end of the trading day, after which it expires. On the other hand, a Good through order is valid for more than one trading day; it remains active until a specified date or until executed. Therefore, the correct answer is C: A day order expires at the end of the day, while a Good through order expires after a specified number of days.