Regulations is the smaller Series 3 part by question count, but it is scored independently. A candidate must meet the passing standard in this chapter’s part as well as in Market Knowledge.
What You'll Learn
| Unit | Focus |
|---|---|
| General Registration and Account Rules | Registration categories, account opening, reporting, and position limits |
| FCM and IB Regulations | Introducing brokers, capital, reports, margin, complaints, and disclosures |
| CPO and CTA Regulations | Pool and adviser obligations, documents, records, and communications |
| Arbitration Procedures | Customer disputes, arbitration, and reparations |
| NFA Disciplinary Procedures | Complaints, warning letters, hearings, appeals, and penalties |
| CFTC Enforcement | Federal enforcement authority and remedies |
Exam Tip: Gotchas
- Regulations is its own pass gate. Study it throughout the course rather than saving it for the end. A high Market Knowledge score does not compensate for falling below the required score in Regulations.