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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