Browse NFA Futures and Forex Exam Guides: Series 3, 30, 31, 32 & 34

Series 34 Cheat Sheet — Retail Forex Terms, Calculations, Risk, and Rules

April 23, 2026

Quick-reference Series 34 cheat sheet for retail off-exchange forex terminology, calculations, market concepts, risk, and regulation.

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Use this Series 34 Cheat Sheet after you have the route clear. It is built to keep forex-specific terminology, calculations, risks, market concepts, and rules in one pressure map.

Quick facts

ItemDetail
RouteNFA Retail Off-Exchange Forex Examination
Questions40 scored
Time60 minutes
Core emphasisforex terminology, calculations, risks, market concepts, participants, and regulation
PracticeOpen exact web practice

Weight map

AreaWeight
Definitions and Terminology24%
Forex Trading Calculations11%
Risks Associated with Forex Trading9%
Forex Market Concepts, Theories, Economic Factors, and Participants26%
Forex Regulatory Requirements30%

Pressure checklist

  • Is the question asking for a term, a calculation, a risk, a market concept, or a rule?
  • Is the client-facing risk different from the market-mechanics detail?
  • Does the calculation require direction, quote structure, or margin/risk awareness?
  • Is the regulatory requirement specific to retail forex?

Common traps

  • treating retail forex as generic currency trivia
  • memorising terms without understanding client risk
  • leaving calculations until the final week
  • underweighting regulatory requirements even though they are the largest block
Revised on Thursday, April 23, 2026
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