Series 3 — National Commodity Futures exam topics — the 5 content areas by weight
The Series 3 — National Commodity Futures exam is built from 5 weighted content areas. Focus your time where the weight is. Each area below links to a free study chapter and practice questions. Weights reflect the official content outline.
Futures Fundamentals
30%Terminology, margins, orders, accounts
Hedging, Basis & Spreads
18%Long/short hedges, basis risk, spreads
Options on Futures
15%Calls, puts, premium, risk profiles
Fundamental & Technical Analysis
8%Supply/demand vs. price charts
Regulations (CEA, CFTC, NFA, AML)
29%Registration, position limits, disclosures, AML
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Content-area weights reflect the official Series 3 — National Commodity Futures content outline. Confirm current details with FINRA — Series 3 exam. Study aid, not a substitute for the official material. Last updated: August 2026.