The Series 31 (or Futures - Managed Funds Exam) is an alternative to the Series 3 designed by the NFA (National Futures Association) and administered by FINRA (Financial Industry Regulatory Authority) to assess a candidate's ability to competently sell commodities futures and comparable products. If you have hit a dead end in your test prep, Varsity Tutors can help you find an experienced Series 31 tutor who can assist you.
The Series 31 is a computer-based exam containing 45 multiple-choice questions over a 60-minute testing session. The topics covered include General Market Knowledge, General Regulation, CPO-CTA Regulations, CPO-CTA Disclosure Documents, the Know Your Customer Rule, Disclosure By CPOs and CTAs Required For Upfront Fees, and Promotional Materials. Some questions involve calculations, and a calculator is provided to you for use during the exam.
Time management is very important on this test, so your Series 31 tutor can provide practice exams to give you a realistic idea of how long you have to complete the test. Practice exams can also help identify any weaknesses you have so that they can be addressed through dedicated study sessions with your tutor. Your tutor can also design study sessions with your individual needs in mind, whether that means moving more slowly, more quickly, or a combination of the two compared to other students. Questions are also encouraged, allowing you to seek clarification whenever necessary. The exam's multiple-choice format also allows your Series 31 tutor to share test-taking strategies that you can fall back on if you're stumped by a question. There is no penalty for guessing on the Series 31, so it's best to respond to every question. If you can eliminate some of the incorrect choices, you have a better chance of getting it right even if you aren't sure of the answer.
If you're ready to engage the services of a professional Series 31 tutor but aren't sure how to start, we can help you find somebody who meets your scheduling and academic expectations. We also provide a Live Learning Platform that allows you to study on your mobile device of choice. It offers several handy tools such as video chat functionality and a virtual whiteboard that make it feel like a face-to-face tutoring session. Reach out to us today for more information.