Which of the Following Characteristics Apply to Trading Before and After

Multiple Choice

Which of the following characteristics apply to trading before and after regular hours?
I. Most after hours trades match a bid price to a corresponding offer price.
II. Most brokerage firms require individual investors to place only market orders for after- hours trades.
III. Electronic Communications Networks (ECNs) play a key role in after hours trading.
IV. After-hours trading begins at 4:00 P.M. and ends at 9:30 A.M. eastern time.

A) II and IV only
B) I, II and III only
C) I and IV only
D) I, III and IV only