CFA Level 1
This exam is administered by the National Association of Securities Dealers (NASD). The National Futures Association (NFA) generally requires an individual to successfully complete the Series 3 in order to be qualified to sell commodities or futures contracts.
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 August 2006. Note that this is the examination enrollment fee ONLY--other fees may also apply. Please visit the NASD 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

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 Terms to Know
Get Series 3 Study Materials - Pass the Series 3 with ease! Click here to get a study book with over 500 practice questions and a Computer Disk Test Simulator with an additional 500 test bank questions to ensure that you pass your first time!

Frequently Asked Questions
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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