Series 3 - National Commodities Futures Examination

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.

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.

We recommend studying 60-80 hours over a four-week period.

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).

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.

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.

No.

The cost of the exam is $130 at this writing.

Registration will remain in effect only until the registrant leaves the firm.