The Series 32 Exam, designed by the National Futures Association (NFA), provides testing relief to individuals registered in qualified non-U.S. jurisdictions — currently only Canada and the United Kingdom*. Any questions regarding eligibility should be directed to NFA prior to taking the Series 32. 

As a nonprofit educational foundation, we focus on preparing candidates to learn, practice and pass for their Series 32 exam. Our Guide to U.S. Futures Regulation is the preeminent study manual for the exam and includes extensive questions and explanatory answers to reinforce learning objectives and confirm your comprehension of the rules that govern U.S. derivatives markets. The average preparation time for Series 32 exam is 20-30 hours.

* In the UK, an individual would need to have been approved as Control Function 30 (CF30) within the two years prior to filing the application and also submit one of the following Certificates in Derivatives: Derivatives - Level 3 or Financial Derivatives - Level 3. If an individual had been continuously approved as CF30 (previously CF21) from December 1, 2001 to December 8, 2019, that individual would not be required to submit proof of having obtained a Certificate in Derivatives.  If an individual has never been approved as CF30, they must submit one of the certificates in derivatives listed above and a statement from their sponsoring firm certifying that they are fit and proper. In Canada, an individual would need to submit proof of their registration or license to NFA along with documentation relating to the applicant's market knowledge such as completion of the appropriate qualifications testing.