The NFA® Series 3, National Commodities Futures Exam is required for registration with the national commodity exchanges in order to solicit and sell commodity futures and options on futures.
Exam Format
120 multiple-choice questions
Exam Duration
2 hours, 30 minutes
Outline of Topics Covered
- Future Trading Theory and Basic Functions Terminology
- Futures Margins, Option Premiums, Price Limits, Futures Settlements, Delivery, Exercise, and Assignment
- Types of Orders, Customer Accounts, Price Analysis
- Basic Hedging, Basis Calculations, Hedging Futures
- Spreading
- Speculating in Futures
- Options Hedging, Speculating, Spreading
- Regulations
Additional Details
For more exam details, including fees and passing score, please visit FINRA.
Attention Colorado Students
Kaplan Financial Education is approved and regulated by the Colorado Department of Higher Education, Private Occupational School Board (DPOS). View the Colorado College Bulletin.
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