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The Series 3 exam—the National Commodities Futures Examination—is a National Futures Association (NFA) exam administered by FINRA. The exam consists of 120 scored questions. Candidates have two hours and 30 minutes to complete the exam, which consists of two parts. A candidate must score 70% on each part in order to pass the exam.
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Series 3 is one of the shorter exams, study time isn't too bad...If you dedicated studying full time you should be ready in 2 to 3 weeks to take it. Most firms will hire you first contingent on passing the exam in 30 days. I first got hired about 10 years ago and took the test after being hired. Every company I know of will hire first then have ...
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) 1/3 involve calculations (lots of hedging ...
- 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 · Its Series 3 exam prep course stands out for its exam-focused, on-demand, multi-media video lectures featuring a senior instructor for every section or chapter of the course. For $305, Training ...
Jun 13, 2024 · The Series 3 exam is not a speeded test. A speeded test is one that is designed so that only the brightest students will have enough time to finish. The Series 3 exam is designed to provide enough time for all students to complete each question on the exam. Taking is the Series 3 exam is stressful, even if you are a good test taker.
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The Series 3 Exam contains five (5) additional experimental questions that do not count towards your grade. Extra time is built into the exam to accommodate these five (5) questions. You will have 2 hours and 30 minutes to complete the actual test and required 120 questions.