The
National Futures Association assumed responsibility to administer
the NASD Series 3 exam in 1984. The National Commodity Futures
Examination contains 120 true/false and multiple choice questions.
Two and one-half hours is allotted for completion of the examination.
A minimum score of 70% on each of the two sections of the
examination is required for passing.
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PART
I
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1.
|
Futures
trading theory and basic functions terminology
|
11%
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|
2.
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Futures
margins, options premiums, price limits, futures settlements,
delivery, exercise, and assignment
|
12%
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|
3.
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Types
of orders, customers' accounts, price analysis
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10%
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4.
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Basic
hedging, basis calculations, hedging commodity futures
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9%
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5.
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Hedging
financial and monetary futures
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8%
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6.
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Spreading
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2%
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7.
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Speculating
in commodity futures
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7%
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8.
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Speculating
in financial and monetary futures
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7%
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9.
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Options
hedging, speculating, spreading
|
5%
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PART
II
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| 1. |
Regulations |
29% |
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a.
CPO/CTA disclosure documents
b. IB and FCM disclosure
c. Know Your Customer Rule
d. General account handling and exchange regulations
e. Discretionary account regulation
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