What is 31 series?
Series 31 is a test of managed funds in industry on the stock market. The 31 series test is administered by the financial industry regulatory agency (FINRA), a private corporation that was created to supervise transactions between brokers, sellers and private investors. The 31 series license together with compulsory membership in the National Futures Association (NFA), the self -regulating American futures industrial organization, allows the holders to be sold by the Futures. Those who want to pass the exam must already have a license for general securities, also known as the License of the 7 series. The License of the Series 31 meets the requirements for NFA membership.
Futures are contracts to buy or sell commodities or other financial instruments at agreed prices in the future. Managed futures are funds that invest in a number of asset classes such as energy, agriculture and currency. This investment strategy introduces diversification to the fund, ie reducing the overall risk due to the fact that different classes of assets have Tentenci to match each other. Some usually gain value simultaneously, others decrease in response to predominant economic conditions.
Individuals sitting on this exam must answer 45 questions in 60 minutes with selection with selection that focus on the rules, regulations and responsibilities associated with the sale of futures. The topics tested on the exams include general market knowledge, consultants for trading in commodities and regulations and publication of commodity funds, fees and regulations and promotional materials. The 31 series license is awarded to individuals who have achieved a minimum score of 70% per test.
There are a number of companies for the preparation of the financial industry test, which provide printed and electronic study materials for a fee. Some also offer separate online study courses. NFA does not provide a series of 31 traning class. However, it offers a study giant on its websiteS, which provides information on content to which each of the futures tests, including the 3 series, series, series, 31 series, 32 series and 34 series.
After being ready to sit on the exam, the applicant must submit the U10 form and pay the required fee Finra via its website. Individuals who meet the requirement for NFA professional competence by passing the 31 series test must then be registered for NFA before they can start acting as registered futures. Anyone who fails the first or second time exam must wait at least 30 days for it again. Those who fail in the third or next time must wait at least 180 days before trying to test.