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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.
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Exam Information
Time Limit: 2 hours and 30 minutes
Number of Questions: 120 questions
Passing Score: 70%
Format: Multiple Choice
Enrollment Fee: $95 US as of July 2007. 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.
Prerequisites: N/A
Exam Date(s): Any weekday
Exam Locations: Find your U.S. or international exam center here
Official Exam Website: http://www.nfa.futures.org
Exam Preparation
Get the Series 3 Study Book and over 500 Practice Questions!
Additional Exam Details
For an in-depth breakdown of the topics tested, refer to the PDF study outline provided by the National Futures Association here.
Terms to Know
  • Bucketing
  • Delta
  • Double Top
  • First Notice Day
  • Intrinsic Value
  • Inverted Market
  • Long Hedge
  • Offset
  • Scalpers
  • Straddle

    • Question of the Week
    Committing acts against the Commodity Exchange Act can result in fines up to:

    a) $25,000
    b) $50,000
    c) $100,000
    d) $250,000
    Answer

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