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Series 3 Exam Details

Launch Your Career in Futures: Exam Requirements and Study Solutions for the Series 3

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.

Series 3 Exam at a Glance

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  • 120

    Multiple-choice questions

  • 2:30 hours

    Time Limit

  • 70%

    Passing score required to pass

More About the Series 3 Exam

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

Best Practices Guide

Kaplan has prepared a Best Practices Guide to help you pass the first time! This guide includes recommended study hours, how to use your study materials effectively, and test-taking tips. Access the guide and other free materials here.

Additional Information

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.

Begin Preparing for the Series 3 Exam

Boost your exam readiness with Kaplan’s Series 3 study packages, featuring Premium, Essential, and Basic options. From live instruction to flexible self-study, we provide the study tools and additional materials you need to pass.
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