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Series 3 - National Commodity Futures Exam

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Pass Your Securities Series 3 Licensing Exam With Kaplan

Kaplan's securities test prep solutions for the NFA® Series 3 exam are tailored to meet your learning style. Choose from our Online Class or a Self-Study Solution.

Pass the Series 3 with a full suite of exam prep options designed to help you work smarter, perform better, and score higher. And with Kaplan's Practice Exam, SecuritiesPro™ QBank, and experienced instructors, you'll be more confident on exam day.

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Series 3 Study Solutions:

Series 3 Individual Study Tools:

General Information

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.

Prerequisites: None

Exam Format: 120 multiple-choice questions

Exam Duration: 2 hours, 30 minutes

Passing Score: 70% or above

Fee: $125.00

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

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