The Series 3 Exam for commodity futures brokers is divided into two parts – futures trading theory and market regulations. Each part must be passed with a score of at least 70 percent. There are 120 total multiple choice and true/false questions, and exam takers are provided 2 hours and 30 minutes to complete the exam. 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.

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