Series 3 — National Commodity Futures Exam

The Series 3 qualifies professionals to sell commodity futures and options and is co-administered by the NFA and FINRA. It tests futures market mechanics, hedging, options on futures, market analysis, and regulation.

120
exam questions
150 min
time limit
70% each part
to pass
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What the Series 3 — National Commodity Futures Exam exam covers

30%
Futures Fundamentals
Terminology, margins, orders, accounts
18%
Hedging, Basis & Spreads
Long/short hedges, basis risk, spreads
15%
Options on Futures
Calls, puts, premium, risk profiles
8%
Fundamental & Technical Analysis
Supply/demand vs. price charts
29%
Regulations (CEA, CFTC, NFA, AML)
Registration, position limits, disclosures, AML

These practice questions are AI-assisted study material, written from the official content outline — for practice only, not official exam questions. Always confirm current exam details with FINRA — Series 3 exam.

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PrepPass currently has 22 original Series 3 — National Commodity Futures Exam practice questions across 5 topic areas, and every question comes with a written answer explanation.

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