Microstructure · quizMicrostructure quizTicks, spreads, queues, order types and hidden liquidity.Tap an answer to check it. Each one explains why — read those even when you're right.Mechanics1. What must happen for price to tick up by trading?A A large bid is added below the marketB Aggressive buyers consume all the size offered at the best askC The spread widensD Volume increases at the bid2. Heavy aggressive selling hits a bid price repeatedly, but the price does not drop. This is best described as…A AbsorptionB SpoofingC SlippageD A liquidity void3. What is the tick value of one ES contract?A $5.00B $1.25C $12.50D $50.00Orders and queues4. Price touches your resting limit order and immediately leaves without filling you. The most likely reason is…A The exchange rejected your orderB Other orders were ahead of yours in the queueC Limit orders only fill at the openD Your order became a market order5. Why is a stop-limit order risky as a protective stop?A It always fills worse than a stop-marketB It may not fill at all if price gaps through the limitC It cancels your entry orderD It can only be used overnight6. Which observation is the strongest evidence of hidden (iceberg) liquidity?A A large displayed bid appearsB Repeated trades at one price exceed the displayed size while the level holds and refillsC The spread is one tick wideD Price moves quickly through a level0/6 answered← PreviousNext track: Who's Trading →
