American Investment Training

Tuesday, February 23, 2016

Test Outline for the Series 3 Licensing Exam

The futures and commodities license (Series 3) covers a targeted range of topics that are tested. Some sections carry more questions than others.

Topics on the Series 3:

Terms and Definitions:

General Theory
Futures Contracts
Structure of futures markets
Hedging Theory
Speculative theory
Futures terminology
Options terminology

futures margins, option premiums,
price limits, futures settlements, delivery,
exercise, and assignment


Margin Requirements
Option Premiums
Price Limits
Offsetting Contracts, Settlements, Delivery
Options Exercise, Assignment, Settlement

types of orders, customer accounts,
price analysis


Basic Characteristics
Additional Orders
Technical Pricing Analysis
Fundamental Price Analysis
Interest Rate Analysis

basic hedging, basis calculations,
hedging futures


Short Hedging and Long Hedging

Spreads

Types and Spread trading

speculating in futures

Profit/loss calculations
Trading Applications

option hedging, speculating, spreading

Option Theory
Option Hedge Strategies and Calculations
Speculative Strategies
Option Spread Strategies

Regulations

FCM
NFA
CPO
CFTC

End Of Outline portion

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As always, American Investment Training and it's partners have the strongest Series 3 and all futures exam prep available.

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