Series 3 - National Commodities Futures Examination

How do I register to take the Series 3?
To take the Series 3, an individual who is hired by an NFA-registered firm must file a Form 8-R application and attach a fingerprint card. You will have to answer a lengthy set of questions about your education and employment background and disciplinary history.
What does the Series 3 qualify me to do?
A Series 3 license qualifies individuals to solicit customers, customer orders or customer funds on behalf of a futures commission merchant, retail foreign exchange dealer, introducing broker, commodity trading advisor or commodity pool operator. It also qualifies individuals to manage other individuals who sell commodities or futures contracts.
How long should I prepare for this exam?
We recommend studying 60-80 hours over a four-week period.
What score do I need to pass the exam?
A score of 70% on each part is required for passing.
Note: Your score will be rounded down to the next lowest whole number (e.g. 69.9% would be a final score of 69%--not a passing score for the Series 3 Exam).
How many questions are on the exam?
The exam includes 120 multiple-choice questions plus 5 unscored questions for a total of 125. The 5 unscored questions are randomly distributed, so test-takers do not know which questions are not scored. The unscored questions are being tried out by the exam committee.
How long is the exam?
2 hours and 30 minutes. You are allowed to take restroom breaks during the exam; however, the clock will continue counting down. Please contact your preferred testing center for additional information.
Are there other FINRA or NFA exams I need to complete as a prerequisite to attempting the Series 3?
No.
How much does the exam cost?
The cost of the exam is $130 at this writing.
If I stop working for my firm, how long will my Series 3 license remain active?
Registration will remain in effect only until the registrant leaves the firm.

General exam questions? See our general FAQs.

For information about Solomon Series 3 exam study materials, please click here.

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Stephanie Oliver, MSRS, Minneapolis, MN

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Patrick Deal, Cape Securities. Frisco, TX

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Colleen Shelly, PNC Investments, Cleveland, OH

I passed my Series 99 this past week on my first attempt. I had no previous brokerage and/or investment experience, just a background in finance.

I utilized the combination package with the textbook, video lectures, quiz simulator, and other materials. When I study for future FINRA exams I will utilize Solomon software and recommend it to my colleagues. I learn the most by listening and enjoyed the video lectures that had PowerPoint slides I could download and make notes on. The practice questions were fantastic at reinforcing the material and highlighting areas that I needed extra review on.

Tiffany Kovacevich, PNC Investments, Cleveland, OH