Requirements

The U.S. Commodity Exchange Act (CEA) requires certain firms and individuals that conduct business in the U.S. derivatives industry to register with the U.S. Commodity Futures Trading Commission (CFTC).  The CFTC is the U.S. government agency which has regulates futures, options and swaps markets. CFTC regulations also require, with few exceptions, CFTC registered firms to be members of the National Futures Association (NFA), the self-regulatory organization for the U.S. derivatives industry.

Industry professionals who are required to register with the CFTC and NFA, and are granted registration only after a thorough investigation of their background to determine if they meet the fitness standards set forth in the CEA, and only upon passing standard proficiency exams.

• Individual and Firm Registration Requirements

Exam Preparation

As a nonprofit educational foundation, the Institute has provided NFA exam study materials since 1989, and offers self-study manuals, online study tools, as well as live and online instruction. Our study materials are designed by industry practitioners to help you build your knowledge and fine-tune your comprehension to give you the skills and confidence you need to pass the exam. These materials are enriched by illustrations, graphs, extensive questions and explanatory answers and a glossary — all designed to prepare you to pass the exam.  Unlike many other exam-prep materials on the market, we focus on true professional learning, not " test cramming", to ensure you master the knowledge you will need not only to pass the exam, but also to be a successful in the financial industry.

• NFA Series 3 Exam:       Learn about the exam, how to apply and where to take the National Commodity Futures Examination exam.

• NFA Series 32 Exam:    Learn who is entitled to take this exam, how to apply and where to take the Limited Futures Examination - Regulations exam.