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.