The correct order is:
Step 1 – Authorized Buyers sends information to all of the real-time bidders, including details about the impression and user.
Step 2 – The real-time bidder analyzes the information and selects advertisers.
Step 3 – The real-time bidder responds with the creative and bid.
Step 4 – The bid is then entered alongside all of the other bids in the auction.
This question is from the Check your Knowledge quiz section of the “Meet Authorized Buyers” unit which is a part of the Get Started as an Authorized Buyer course.