Futures Managed Funds Exam
The Series 31 exam is required by the NFA for those who wish to receive trailing
commissions on commodity limited partnerships, commodity pools, or managed
accounts guided by Commodity Trading Advisers. The Series 31 is also meant for
those supervising these same limited activities. Individuals who take the Series
31 exam in lieu of the Series #3 exam cannot open individual futures trading
accounts.There is no prerequisite for the Series 31 exam but many
Series 7
representatives sit for the Series 31 exam in order to receive trailing
commissions on commodity limited partnerships.
$60.00 test fee (Application form U-4 or U-10) 1 hour time limit
Series 31 Test Topics
|
Approximate Test
Questions
|
|
General Market Knowledge |
12 |
|
CTA/CPO Regulations |
5 |
|
Know Your Customer |
2 |
|
Promotional Material |
2 |
|
Regulations |
9 |
|
CTA/CPO Disclosure |
8 |
|
Upfront Fees |
7 |
|
|
Total 45
questions |
The National Futures Association (NFA) and the various
domestic commodity futures exchanges require the Series 30 exam for anyone
who is going to act as a Branch Manager of a Commodity Trading Adviser,
Commodity Pool Operator, Introducing Broker, or Futures Commission Merchant.
Securities Exam Preparation, Inc. is a consulting
organization specializing in self-study programs for FINRA(NASD) test preparation
-- and in coordinating registration services for Investment Advisors, Broker
Dealers, Commodity Trading Advisers, and Introducing Brokers.
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