This workout asks us to identify whether the following statements regarding stock exchanges are true or false.

The first statement is that it is possible to place a limit order to any exchange.

This is a false statement.

Since if you are trading on a quote driven exchange, all you can do is trade at the prices that are quoted by the market makers on that exchange.

The next statement states that limit orders remain on the order book until they are matched.

This is also a full statement.

Typically, unmatched orders will be deleted from the order book at the end of a trading day.

The next statement is that the NASDAQ is a quote driven exchange.

This is a true statement.

The Q in the NASDAQ acronym stands for quotations.

The next statement says that the order book is visible to the market as a whole in real time.

This is essentially a true statement.

You may need to pay a small fee to an exchange, but this will provide anyone with the ability to view real-time order books on order driven stock exchanges.

Finally, we have on a quote driven exchange quoted prices are only indicative prices.

This is a false statement.

The prices that are quoted by market makers at the required order size are firm prices, which means that a price quoted by a market maker is a price that they are obligated to trade with you at.

They can amend these quoted prices over time, but if you wish to trade at a currently quoted price, the market maker has to trade at that price.