|
Free Practice TestsTest PreparationOther Resources |
Series 31 Test BreakdownAny person who has successfully passed the Series 7 exam, and is registered with the National Association of Securities Dealers (FINRA), is eligible to take the Series 31 exam, also known as the Futures Managed Funds Examination. Although this test doesn't lead to a career as a regular futures and commodities trader, by successfully passing the Series 31 exam, a person will be considered qualified to run a firm's managed futures and commodities trading funds and engage in specific, limited futures trading activity, including managing a commodities pool account, soliciting money for these purposes, along with raising funds to be traded by a Commodity Trading Advisor. They are also qualified to supervise the firm's employees in these activities.
The Series 31 exam can be taken at testing centers all over the country, and usually on any day of the week except Sunday; you'll want to check with your nearest FINRA authorized testing center for details. It costs $60 to take the test. The Series 31 is not an all day exam; it takes an hour to complete, and consists of 45 multiple choice questions, and you'll need to answer 32 correctly to achieve the passing grade of 70% or higher. Although it's short, the exam is by no means easy. You'll need a firm grasp of the futures markets and futures trading, a detailed knowledge of the rules and regulations governing Commodity Pool Operators and Commodity Trading Advisors, a good grasp of the main laws of the National Futures Association and the Commodity Futures Trading Commission, rules for making trades, handling money, and managing customer accounts. You'll need to prepare well for the Series 31 exam; study and hard work should enable you to pass it on your first attempt. Click Here for
Series Test Breakdown
All material on this website is copyrighted. TestPrepReview.com provides free unofficial review materials for a variety of exams.
|
