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Series 3

Series 3

The National Commodities Futures Examination — assesses your knowledge across a range of topics related to commodity futures trading, including market fundamentals, regulations, trading practices, customer accounts, margin requirements, and more.

Visit FINRA for more info

120 Questions

Multiple Choice

2h 30m

Duration

70%

Min Passing Score

70% - 75%

Average Passing Rate

Requisites

None

Topics

  • Contracts
  • Options on futures
  • Hedging
  • Margin requirements
  • Regulatory compliance in commodity trading

Retake Wait Periods

There is a 30-day wait period to retake the exam if you don’t pass. The $140 exam fee applies each time they take the exam. Our comprehensive learning platform is designed to get you through the test on the first attempt.

What’s Next

Depending on career goals and job requirements, individuals may consider pursuing additional licensing exams such as the Series 7 (General Securities Representative), Series 24 (General Securities Principal), or Series 66 (Uniform Combined State Law).

Prep Packages

Be confident, fully prepared, and ready to pass.

The Series 3 exam requires a solid understanding of a broad range of concepts and the ability to apply them in various scenarios. You need a comprehensive prep course that will make you feel confident, fully prepared, and ready to pass.

Pass Plus Pro

$

277

Course access is for 7 months from the date of purchase

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Retention Over Memorization

We’ll provide you with in-depth content and practice questions that mimic the actual test — so there are no surprises come exam day.

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Delivering content based performance to help you move on from concepts you’ve mastered and going deeper into ones you haven’t.

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Delivering content based performance to help you move on from concepts you’ve mastered and going deeper into ones you haven’t.

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Course Material

Your Ultimate Resource

We have created the ultimate resource to help ensure you pass — the first time. Developed by experts in FINRA licensing, our coursework incorporates everything you need to know to successfully take this important step in advancing your career.

Multi-level Assessments

Includes Quick Quizzes at the topic level.

Animated Videos

Reinforcing key concepts and test-taking strategies with simulated exam questions.

Scored and Graded Assessments

Check Your Understanding, Chapter Exams, Mid-Term Exams, and Fixed Final Exams.

Clear and concise course material

Increased efficiency in learning, allowing more time for Final Practice Exams.

Intuitive & Modern User Interface

Our LMS allows you to engage easily and keep careful track of your progress, so you can focus on learning.

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FAQs

After successfully passing the Series 3 exam, individuals have various options for further career advancement in the financial industry. Depending on career goals and job requirements, individuals may consider pursuing additional licensing exams such as the Series 7 (General Securities Representative), Series 24 (General Securities Principal), or Series 66 (Uniform Combined State Law).

Once you pass the Series 3 exam, you must then file a Form 8-R application with the NFA to become registered. This involves submitting a fingerprint card and answering a lengthy set of questions about your education, employment, and disciplinary history.

Registration will terminate when the registrant leaves the firm. An individual may register with another firm without having to retake the exam as long as the registration gap is less than 2 years.

The cost of the exam is $140 at this writing.

You have 2 hours and 30 minutes to complete the exam. You are allowed to take restroom breaks during the exam. However, the clock will continue counting down. See the FINRA website for more details on what to expect when taking your exam.

The exam consists of 120 multiple-choice.

A score of 70% on each of the two parts 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).

To take the Series 3, you must enroll online and pay the exam fee to FINRA, which administers the exam. You do not need to be sponsored by a firm to take the exam. The Series 3 exam can be taken at a Prometric testing center or online via ProProctor, a remote testing application.

No

We recommend studying 30-40 hours over a four-week period.

If you’re not employed by a firm, you can still register to take the exam by paying the fee and opening an exam enrollment window via FINRA’s Test Enrollment Services System.

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.