What type of order requires power of attorney if it does not specify the action, amount, or asset?

A discretionary order requires a power of attorney because it gives the investment adviser or broker-dealer the authority to make investment decisions on behalf of the client without needing to specify exact actions, amounts, or assets at the time the order is placed. This allows the representative to exercise judgment in executing trades based on market conditions and the client's investment strategy.

In contrast, other types of orders, such as limit orders and market orders, are more specific in nature. A limit order specifies a price at which a trade should occur, while a market order indicates that a trade should be executed immediately at the current market price. These orders do not grant discretionary authority, as they are clear in what action to take. A conditional order, on the other hand, requires certain conditions to be met before execution but still does not inherently grant discretionary powers. Thus, the discretionary order is the one that necessitates the broader authority that a power of attorney provides.