The Series 3 exam is a regulatory assessment administered by the FINRA in the United States, designed to qualify individuals to become commodity futures and options brokers.
The Series 3 exam consists of 120 multiple-choice questions assessing knowledge of commodity futures and options trading regulations. The passing score for each part is 70%.
To be eligible to take the Series 3 exam, candidates must be sponsored by a registered firm, be at least 18 years old, and not have any disqualifying criminal or regulatory history.
The cost for the Series 3 exam can vary depending on the exam provider and any additional study materials you might choose to purchase. Generally, the registration fee for the Series 3 exam is $140.
For Series 3 exam test-takers have a total of 2 hours and 30 minutes to complete the exam. This includes a 30-minute break that is provided after the first 60 questions.
The Series 3 exam is typically offered throughout the year. However, specific exam dates can vary depending on the testing center and the organization administering the exam (either FINRA or NFA).