Study the U.S. regulatory half of Series 3: registration, account opening, promotional material, customer protection, reporting, complaints, and disciplinary rules.
The second half of Series 3 is the U.S. regulations section, and candidates have to pass both the market-knowledge side and the regulations side to pass the exam. That makes the regulatory material non-negotiable. Registration status, account-opening rules, customer protection, disclosure obligations, promotional standards, and complaint handling all matter as much as hedging or options calculations.
Read this chapter as the compliance layer of the exam. Start with registration and customer-account rules, then move into FCM, IB, CPO, and CTA obligations, and finish with reporting, records, complaints, and disciplinary procedures.
Learn how Series 3 tests registration categories, exemptions, NFA membership, account-opening documents, risk disclosure, discretionary accounts, and customer information rules.
Learn how Series 3 tests the operating rules for FCMs, IBs, CPOs, and CTAs, including net capital, disclosure documents, performance reporting, and NFA promotional standards.