Series 34 and Study Topics

Forex managers may soon face oversight from the Commodity Futures Trading Commission (CFTC). Last year’s Farm Bill passed by Congress required the CFTC to propose Forex registration rules that would effectively require most Forex managers (and Forex hedge fund managers) to register. This will generally mean that all owners and associated persons of a Forex investment firm will be required to provide proof to the NFA that they meet the minimum requirements of competency. While the CFTC has not yet weighed in on these issues, it appears likely that the CFTC will require such managers to take and pass the Series 3 Examination (National Commodity Futures Examination) and the Series 34 Examination (Forex Examination). Off-Exchange Retailer) .

The Series 34 Exam Sections and Test Items

The National Futures Association (NFA) has provided prospective examinees with an overview of the main topics that will be tested on the new Series 34 exam. There are five main testing areas: (1) Forex definitions and terminology, ( 2) Forex concepts, (3) Forex regulations (basically all applicable NFA regulations), (4) Forex trading calculations, and (5) Forex trading risks. There are additional important elements within these conceptual areas that Forex managers will need to become familiar with and study before taking the exam.

Register and how to prepare for the exam

Those who wish to take the exam must sign up through the FINRA website by completing and submitting a Form U-10. Once an applicant is in the system, they can register to take the exam through Prometric or Pearson/Vue. The test is administered several times a day at various testing sites, so applicants will have a wide variety of testing times to choose from.

Preparation for the exam will be similar to how applicants prepare for the Series 34 exam. That is, applicants will want to read some type of study guide and will want to ask practice questions. It’s also a good idea to make flash cards to increase study opportunities.