How to Study for the Series 3 Exam

It is necessary to pass the Series 3 Exam to work in the commodities and futures market. Passing this exam will allow you to be a commodity pool operator, commodity training adviser, an introducing broker or futures commission merchant. The National Futures Association requires you to pass the Series 3 Exam before beginning to work in this field.

Things You'll Need

  • Series 3 Exam study materials
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Instructions

    • 1

      Study futures trading theory. This section makes up about 10 percent of the exam score and is made up of around 13 questions.

    • 2

      Become well acquainted with margins, limits and settlements. This section of the exam will be about 12 percent or the exam score and includes approximately 15 questions.

    • 3

      Learn about customer accounts. This includes orders and analysis of customer accounts.

    • 4

      Study both basic and financial hedging fundamentals and principals. These two sections account for close to 20 percent of the exam score total.

    • 5

      Understand spreads and options. The Spreads section of the exam is the smallest with around three questions. Expect at least six questions on options on the Series 3 Exam.

    • 6

      Comprehend the fundamentals of both general and financial speculation. These sections combine for a total of 16 to 20 questions.

    • 7

      Memorize regulations. The Regulations section of the Series 3 Exam is, by far, the largest section. Expect around 35 questions on industry regulations, accounting for 30 percent of the exam score.

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