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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.
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the name of the exam or its identifying series ID (e.g.,...
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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.
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:
- What Is The Series 3?
- How The Series 3 Works
- Alternatives to The Series 3
The Series 3 is an exam, also known as the National Commodities Futures Examination, administered by the Financial Industry Regulatory Authority (FINRA) on behalf of the National Futures Association (NFA). Candidates who pass the exam are eligible to register with the NFA and sell commodity futures contracts and options on commodity futures contrac...
The Series 3 exam covers topics that commodities brokers need to know, such as options, futures, hedging, and margin requirements, as well as market and regulatory rules. The exam consists of 120 multiple-choice questions in two parts, and candidates have two hours and 30 minutes to complete it. Unlike the Series 7 exam, candidates do not need to b...
Rather than the Series 3, individuals may be eligible to take other exams and pursue other registration options based on their registration status and the nature of the business they conduct. Those include: 1. Futures Managed Funds Examination (Series 31) 2. Limited Futures Examination-Regulations (Series 32) Other certification exams related to th...
- Julia Kagan
May 6, 2024 · 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...
- Noble Drakoln
Candidates will be subject to the following waiting periods between exams if they have failed the Series 3, Series 30, Series 31, Series 32 or Series 34 within the past two years: A minimum of 30 days after failing the first exam before the second taking of the exam can be scheduled;
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What is a series 3?
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Once you take and pass the Series 3 exam and/or Series 34, you have two years from the date you passed the exam to register. The exam will not expire unless you have a break in registration as an AP, floor broker or FCM, IB, CPO, CTA or LTM that is a Member of NFA for more than two years.
