Fully kocked.
Do you see how the sear adjustment screw blocks the sear from falling fully into the notch in the tumbler? On this lock it makes the sear rest just on the edge of the notch in the tumbler creating what is known as a "Hair Trigger".
That's the way, UH HUH UH HUH, I like it, UH HUH UH HUH.

If your pistol is a CVA Kentucky the lock "should" be exactly the same, since that's what the lock in the prior picture came off of.

Mine does not have the adjustment screw. The lock on the 50 is different then the one on the 45. That is what the guy at Deer Creek had told me. If you notice in the second pic of my gun, there is only one screw that holds the lock on.