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I took and passed the Series 3 exam two days ago. There's very little information about it, so I thought I'd share my experience. All of the questions are multiple choice, and they can be split into three categories: 1/3 focus on futures trading regulations (lots of questions on FCM/IB responsibilities)
The series 3 is one of the ones you can actually acquire without being affiliated with a member firm as well since futures aren't securities, but I am not familiar with the continuing education requirements or how long the license can stay active prior to you having to test again.
I highly recommend Kaplan's Series 3 textbook as it had all the information available for what I needed to know and a few hundred practice questions. The Series 3 is also heavily focused on regulation related questions.
- The Series 3 License and Exam
- Career Paths
- Managing Clients' Money
- Exams For Licensed Brokers
- The Bottom Line
The Series 3 examination is the all-encompassing test that is required by the National Futures Association (NFA) and the Commodities Futures Trading Commission (CFTC) in order to be considered a commodities and futures professional.It consists of two parts: market knowledge and regulatory knowledge. Stockbrokerscan hold both a Series 7 and a Series...
Branch Manager In order to become a branch manager, an AP must pass the Series 30 examination. The test consists of 50 questions that measure the understanding of a wide range of NFA and CFTC rules regarding marketing, regulatory issues, and customer requirements. Once completed, the person has the ability to oversee other APs while handling the da...
There are also those people that take the Series 3 test who feel that they have a unique insight into how the markets work. They believe that they have the ability to manage their clients' money and would rather gain a percentage of the profits, instead of just earning a commission on the transactions. Those APs that want to go in this direction ca...
Series 3 is just one way to access the world of commodities for your clients. Stockbrokers that want to narrow their work to helping CTAs and CPOs raise capital can take the Series 31 exam, which has only 45 questions. Once completed, stockbrokers can introduce their clients to the alternative world of futures and commodities investing while still ...
Becoming a commodities or futures broker does not have to end with passing the Series 3. That is just a gateway to managing other brokers, setting up your own brokerage firm, and/or managing client funds. This is a career where the sky is the limit. A commodities broker can transition from making a small percentage of the commission charged for eve...
- Noble Drakoln
Feb 21, 2024 · Series 3 course providers recommend you commit to 60 to 80 hours of study prior to the exam, although people familiar with the industry or good test-takers might get away with as few as...
Aug 15, 2024 · In most cases, individuals seeking NFA membership or registration as an associated person must pass the Series 3 exam within two years before they apply. That's unless: The individual is...
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Now that you are ready to begin studying for your Series 3 Exam, we’d like to help you get started! Watch this video and download your Series 3 At-A-Glance g...
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