Series 3 Exam Guide: Format, Passing Score & Cost
The Series 3 is the National Commodities Futures exam, which is separate from the securities exams. Here is what FINRA lists for its format, passing score, and fee.
The Series 3 National Commodities Futures exam has 120 multiple-choice questions, a 150-minute time limit, and a passing score of 70%. FINRA lists the fee at $140 and no corequisite exam. Confirm futures registration requirements with the National Futures Association (NFA).
Series 3 exam facts at a glance
| Questions | 120 — multiple choice |
|---|---|
| Time limit | 150 min — 2 hours 30 minutes |
| Passing score | 70% — per FINRA |
| Exam fee | $140 — per FINRA; can change |
| Corequisite | None — no other exam required to sit it |
| Scope | Futures — commodity futures, not securities |
Series 3 passing score and pass rate
The Series 3 passing score is 70%. OpenExamHub does not publish an official Series 3 pass rate, and third-party figures vary by source and year.
Retake rules for futures registration can differ from the securities exams, so confirm the current policy when you enroll.
How much does the Series 3 cost?
FINRA lists the Series 3 fee at $140. Fees can change, so confirm the current amount when you enroll.
What to confirm before you study
The Series 3 tests futures and commodities, including contract mechanics, hedging, margin, and the rules of the commodity markets. It is a different subject from the securities exams, so a Series 7 background helps only in places.
Whether you need the Series 3 depends on your role and the futures registration requirements set by the National Futures Association. Check with your firm or the NFA, and use the official content outline as your study checklist.
Series 3 exam FAQ
How many questions are on the Series 3?
FINRA lists 120 multiple-choice items and a time limit of 150 minutes.
What is the Series 3 passing score?
FINRA lists the passing score as 70%.
How much does the Series 3 cost?
FINRA lists the Series 3 fee at $140. FINRA sets the fee and can change it.
Do I need the SIE for the Series 3?
FINRA lists no corequisite exam for the Series 3, so the SIE is not required to sit it.
Start preparing for the Series 3
Key terms for this exam
What is FINRA? · Put vs call options · Full glossary
OpenExamHub is not affiliated with FINRA. Exam formats, fees, and passing scores are set by FINRA and can change; confirm them on FINRA's current candidate materials before you register.