Series 3 Exam

This exam is administered by the Financial Industry Regulatory Authority (FINRA) (previously the National Association of Securities Dealers (NASD)). The National Futures Association (NFA) requires an individual to successfully complete the Series 3 in order to become qualified to sell commodities or futures contracts.

Series 3 Online Study Guide

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Exam Details

Time Limit: 2 hours and 30 minutes
Cost: $115 US as of April 2012. Note that this is the examination enrollment fee ONLY--other fees may also apply. Please visit the FINRA Registration/Exam Fee Schedule for more information.
Number of Questions: 120, plus 5 "pre-test" questions
Passing Score: 70% on both parts of the exam
Format: Multiple Choice
Prerequisites: N/A
Exam Date(s): Any weekday
Exam Locations: Find your U.S. or international exam center here
Offical Exam Website: http://www.nfa.futures.org


Exam Topic Weights

The Series 3 exam is broken into two parts:
  • 85 questions on market knowledge
  • 35 questions on regulations

For an in-depth breakdown of the topics tested, refer to the PDF study outline provided by the National Futures Association here.



Question of the Week

Committing acts against the Commodity Exchange Act can result in fines up to:


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