a.  The asking price of CHKP, $45.19, is the amount Steve would most likely have to pay for each share of CHKP stock. So, assuming he purchased a round lot (one hundred shares), Steve would pay $45.19 x 100 = $4,519 (assuming there were no commissions).

b. The advantage of a limit order is that it is not executed unless the stock reaches the specified price or better. The disadvantage is that it may not be executed if the market rises.