Which of the following orders would require written discretionary authorization?
A. Buy 1,000 shares of XYZ today
B. Buy 1,000 shares of XYZ when the price is right
C. Buy as many shares of XYZ as you think I should buy when the price is right
D. All of the choices given
WHY: written discretionary authorization for the account is only required if the customer lets the rep choose the Action (buy/sell), the Asset (which stock?), or the Amount (# of shares). If the rep is merely choosing the time/price at which to enter an order where the customer has already named the 3 A's . . . that doesn't require written discretionary authorization. So any rep can choose time/price, but only those with discretionary authorization over the account can choose ANY of the three A's.