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Your client calls you with a market order to purchase 500 shares of the stock of Oracle and asks when payment will be due. If today is Wednesday, September 15th, you inform the client that payment is due on
Suggested Answer: A
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If your client places an order to purchase 500 shares of Oracle on the open market on Wednesday, September 15th, payment will be due on Monday, September 20th. The settlement date for stock transactions is T + 3, which means the third business day after the trade. Saturday is not a business day.
27 comments · newest first
GL
Gladys
9 hours ago
I think it's B, Thursday. Quick turnaround!
EA
Earnestine
6 days ago
A makes sense. Weekends complicate things.
NA
Naomi
11 days ago
I lean towards B too. Thursday is standard.
AN
Annamaria
16 days ago
D is too late. Payment should be sooner.
JU
Julianna
21 days ago
C seems right, Friday feels logical.
AD
Adela
26 days ago
I feel like it's A, Monday. Gives time for processing.
OL
Oliva
1 month ago
I think it's B, Thursday. Quick turnaround!
JA
Jarod
1 month ago
I vote for C. Friday feels like a safe bet.
OZ
Ozell
1 month ago
A makes sense. Monday gives time for processing.
AN
Anglea
2 months ago
I feel like it's B too. Quick transactions are better.
RO
Rossana
2 months ago
C seems right. Friday is a common due date.
KE
Keena
2 months ago
I disagree, it's A. Weekends don't count for payment.
BR
Brittni
2 months ago
I think it's B. Payment is usually due the next day.
AR
Arlie
2 months ago
No way, it’s gotta be Friday, right?
PA
Pamella
2 months ago
I thought it was always the next business day!
ST
Stefania
3 months ago
Wait, is it really Thursday? Sounds too quick.
AR
Aracelis
3 months ago
Definitely B, that’s the standard!
SY
Sylvie
3 months ago
Payment is due two business days after the order.
CA
Catalina
3 months ago
No way, it’s gotta be Monday, right?
IL
Iluminada
3 months ago
Wait, is it really due that soon? Seems fast!
AL
Alecia
3 months ago
I thought it was Friday, but I guess not.
SK
Skye
4 months ago
Definitely Thursday, September 16th!
FR
Francoise
4 months ago
Payment is due the next business day after the order.
JU
Juliana
4 months ago
I’m a bit confused about the exact dates. I thought it was due the next day, but that doesn’t seem to fit here.
ER
Ernest
4 months ago
I practiced a similar question, and I think it was about the same timeline. But what if the market is closed on a weekend?
AL
Alesia
4 months ago
I remember something about T+2 settlement, so I guess that would make it Monday, September 20th, right?
TO
Toi
6 months ago
I think payment is usually due two business days after the trade date, but I'm not entirely sure if weekends count.