Thinkorswim Web Futures Trading Quiz

What is the primary benefit of using paperMoney on thinkorswim web?

• It allows you to trade with real money.

• It provides a virtual trading experience without financial risk.

• It offers higher leverage for trades.

• It guarantees profits on all trades.

How can you access thinkorswim web?

• Through the Trade tab on schwab.com or trade.thinkorswim.com.

• By visiting a local Schwab branch.

• By calling customer support.

• By downloading a mobile app.

What information can you find on the quote details page?

• Volume, days to expiration, and margin requirement.

• Analyst ratings.

• Historical stock prices.

• Company financial statements.

What feature allows you to track live bid/ask prices and volume?

• The News Feed.

• The Account Summary page.

• The Active Trader ladder.

• The Watchlist tab.

What is the purpose of the Level II gadget in thinkorswim?

• To calculate tax implications of trades.

• To display historical price data.

• To provide news updates.

• To show best ask and bid prices for instant order placement.

What should you do if you accidentally select 'Buy' instead of 'Sell' in the order editor?

• Cancel the order and start over.

• Wait for the order to execute and then reverse it.

• Change the selection in the order editor.

• Contact customer support.

What does the 'time in force' setting determine in an order?

• The type of asset being traded.

• The leverage applied to the trade.

• The duration the order remains active.

• The currency used for the trade.

Where can you check the profit and loss for the day and year to date?

• In the Account Summary tab.

• In the Positions tab.

• In the Watchlist tab.

• In the News Feed.

What action should you take to close a short position?

• Select 'Buy' to close the position.

• Change the contract symbol.

• Increase the margin requirement.

• Select 'Sell' in the order editor.

Why is it recommended to practice with paperMoney before live trading?

• To earn virtual rewards.

• To receive personalized trading advice.

• To build confidence without financial risk.

• To access exclusive trading tools.