If you're thinking about a formal Series 3 prep course, Varsity Tutors can set you up with private Series 3 classes to help you improve your study skills. The Series 3 - National Commodities Futures Exam is a National Futures Association (NFA) exam administered by the Financial Industry Regulatory Authority (FINRA) that investment professionals must pass in order to legally trade in commodities and securities. It's considered more challenging than the Series 7 exam, which only covers securities. If you feel that you could benefit from a Series 3 course, reach out to us today to learn more about how we may be able to assist you!
One of the first things discussed in most Series 3 courses is the formatting you can expect on exam day. The Series 3 is a standardized test administered at testing centers across the country. A calculator is provided for your use, as are a pair of dry erase boards you may use as scrap paper. Both of these items must be returned to the test center at the conclusion of your testing session. The chart below provides additional information about the Series 3 test:
Question Format | # Questions | Time Allowed | Passing Score |
Multiple-Choice | 120 | 2 Hours and 30 Minutes | 70% |
You might think that the Series 3 is easy because it utilizes a multiple-choice format, but some of the questions may be deceptively worded. You might want to take practice exams during your Series 3 class to get a feel for the way questions are worded. Since it is a timed test, taking practice exams under realistic conditions may help you develop effective time management strategies as well.
Once you understand the exam's formatting, you can move on to more specific content areas in your Series 3 prep class. The bulleted list below includes some of the topics you might want to go over:
Series 3 Major Subject Areas
- Futures trading theory and basic functions
- Futures margins, option premiums, price limits, futures settlements, delivery, exercise, and assignment
- Types of orders, customer accounts, price analysis
- Basic hedging, basis calculations, hedging futures
- Spreading
- Speculating in futures
- Option hedging, speculating, spreading
- Regulations
Private Series 3 prep classes allow students to concentrate on their unique areas of opportunity to improve study efficiency. For example, a test-taker who lacks a firm grasp of pertinent regulations may focus on them during their test prep. Likewise, you can spend your class time on futures if you don't completely understand them. Any questions you have may be answered promptly, as you are your instructor's sole pupil during your Series 3 prep courses.
A private instructor may also be better able to accommodate your individual learning style during your Series 3 course. If you are a visual learner, charts and graphs may be utilized to help illustrate key concepts. If you are more of an auditory learner, a lecture format may be used to help you better retain information.
We also strive to make Series 3 test prep as convenient as we can. All instruction takes place on our mobile-friendly Live Learning Platform, facilitating remote study sessions anywhere with a stable internet connection. We also try to match you with a tutor who meets your scheduling needs for added flexibility.
If you would like to learn more about the benefits of taking a Varsity Tutors Series 3 class, contact an Educational Consultant today for more information. We look forward to helping you reach for your academic goals!
Andrew: Series 3 course instructor
...the Federal Reserve Board of Governors, investment banks, and a private equity firm; so, I have experience in the applied application of academic theory. I am adept at teaching economics and finance, as well as topics in math, statistics, business administration, and standardized testing including several of the Series Exams. My teaching philosophy begins with understanding a student's goals and helping them achieve success both inside and outside of the classroom. I can use elements...
Education & Certification
- UNC Chapel Hill - Bachelors, Economics & Psychology
- Georgetown University - Masters, Finance
Subject Expertise
- Series 3
- Series 56 - Proprietary Trader Qualification Exam
- Series 55
- Series 7
- +70 subjects
Gregory: Series 3 course instructor
I studied economics at Wesleyan University and Financial Mathematics at The University of Chicago (Masters Degree.) I have 20 years experience using complex concepts in finance (stats, linear algebra, calculus) at JPMorgan and UBS. I teach stats, finance and programing in a user friendly way. I don't repeat the dry methods of text books. MATLAB is my main scripting language; I also use R and SPSS. I enjoy math and science, and I tutor my...
Education & Certification
- Wesleyan University - Bachelor in Arts, Economics
- University of Chicago - Master of Science, Financial Mathematics
Subject Expertise
- Series 3
- Series 63
- Series 7
- Series 31
- +48 subjects
Hal: Series 3 course instructor
...at the college and university level in addition to having served as a national educator in investments for a Fortune 20 firm. My background includes having been licensed as a Certified Public Accountant, Certified Financial Planner, Certified Trust and Investment Advisor, Regulation 144 Specialist, Retirement Planning Specialist, Certified Senior Advisor, and a variety of other qualifications. In 2019, as I began tutoring and realized that it had been decades since I originally passed my securities...
Education & Certification
- Frostburg State University - Bachelor of Science, Accounting and Business Management
- Frostburg State University - Master of Science, Management Science
Subject Expertise
- Series 3
- Series 63
- Series 27
- Series 10
- +171 subjects
Jonathan: Series 3 course instructor
As an MBA with a concentration in finance, I am well acquainted with many of the various subjects taught by varsity tutors. The courses I have taken in financial derivatives, business statistics and corporate financial analysis have given me a broad base knowledge, as well as a forum for exploration. My personal goal is to use the knowledge I have gained combined with my experience teaching others to be a great tutor and overall resource...
Education & Certification
- St Johns University-New York - Bachelor of Science, Finance
- St Johns University-New York - Masters in Business Administration, Finance
Subject Expertise
- Series 3
- Insurance License
- Social Networking
- English
- +75 subjects
Ben: Series 3 course instructor
Experienced portfolio manager, strategist and published author with a demonstrated history of working in the financial services industry. Skilled in Asset Management, Equities, Bonds, Investment Strategies, and Capital Markets. Strong finance professional with a MBA focused in Finance, General from University of Southern California - Marshall School of Business. Series 65, 7, 63, 24, CFA, FRM
Education & Certification
- University of Amsterdam - Bachelor of Economics, Economics
- University of Southern California - Masters in Business Administration, Economics
Subject Expertise
- Series 3
- FRM
- Series 26
- Series 65
- +39 subjects
Peter: Series 3 course instructor
...that you have the potential to make as much money, if not more money than doctors and lawyers. You do not need a secondary degree, you just need to pass the tests. You would want me as at tutor mainly because of my experience. My expertise is in OPTIONS and MARGIN. I started a broker-dealer from scratch, was a manager of other reps, and was a producer. To see my career path including all the...
Education & Certification
- Rensselaer Polytechnic Institute - Bachelor of Science, Materials Engineering
- California University of Pennsylvania - Master of Science, Mathematics and Statistics
Subject Expertise
- Series 3
- Series 66
- Series 10
- Series 16
- +42 subjects
Kevin: Series 3 course instructor
...practice questions and topical computer related tools. I often ask for feedback and appreciate candid communication. I try to be flexible with my time. To ensure that we have a quiet and comfortable study space, I work with the student to help select mutually convenient locations. In my spare time, I enjoy biking, hiking, swimming, tennis, reading, movies, traveling, spending time with my family and our dog. I look forward to hearing from you and...
Education & Certification
- Truman State University - Bachelor of Science, Accounting
- Washington University in St Louis - Masters in Business Administration, Finance
Subject Expertise
- Series 3
- Series 7
- Series 65
- Series 63
- +41 subjects
Michael: Series 3 course instructor
...my clients trading desks executing delta neutral trades, risk reversals and many other strategies either on a held or not held basis. Held means I am given the price by the client to fill and not held means the order is at my discretion to pick the price. Here we traded large institutional size orders of every strategy for the banks client who are sophisticated hedge funds, asset managers and clients were desks in a...
Education & Certification
- Long Island University-C W Post Campus - Bachelor of Science, Finance
- CUNY Bernard M Baruch College - Master of Science, Finance
Subject Expertise
- Series 3
- Series 44 - NYSE Arca Options Market Maker Exam
- Series 63
- Series 55
- +14 subjects
Mary: Series 3 course instructor
...pit, side by side senior traders for whom I would be responsible for tracking delta positions, hedging trades, communicating with the partners, and learning options theory to prepare for a three-week intensive in house options course in Chicago with a peer group. We were close-knit, collaborative and hand-picked for what would be a rigorous and unique learning experience to set a foundation for our respective quantitative trading roles. I became a market maker, providing liquidity...
Education & Certification
- Dickinson College - Bachelor in Arts, Economics
- Northwestern University - Masters in Business Administration, Finance
Subject Expertise
- Series 3
- Series 14
- Series 39
- Series 10
- +109 subjects
Education & Certification
- Boston University - Bachelor in Arts, Economics
- FGV - Fundação Getulio Vargas - Masters in Business Administration, Finance
Subject Expertise
- Series 3
- Series 7
- Series 6
- CFA
- +10 subjects
Chi-Sun: Series 3 course instructor
...teaching math is for the students to truly understand the concepts and reasoning behind math, and not just learn how to apply formulas and do well on tests. Although they may get good grades, this will be useless later in life. In my teaching experience, when students actually learn the concepts and logic, not only does their math vastly improve, but they also learn to enjoy math, which is the ultimate goal. My qualifications include...
Education & Certification
- Massachusetts Institute of Technology - Bachelor of Science, Computer Science
Subject Expertise
- Series 3
- Series 7 - General Securities Representative Exam (Stockbroker)
- AAI - Accredited Adviser in Insurance
- Series 63
- +112 subjects