NFA Series 31 Exam Prep Training Course & Study Materials
Prepare for your NFA Series 31 exam with our comprehensive online training program. We offer the most efficient and effective training solutions to ensure you master the difficult concepts and have the confidence to pass your exam the first time. Browse a variety of study packages available to fit every learning preference and budget.
*Actual price may vary depending on package selection.
NFA Series 31 Exam Prep Training Course & Study Materials
Whether you learn best by reading, video, taking notes, or live instruction, we’ve got you covered. We offer flexible learning packages with access to a variety of study tools for every learning preference.
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Hard-Copy Textbook
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Personalized Study Plan
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Best Practice Guide
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Practice Question Sets
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Benchmark Final
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Standard Final Exams
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Custom Exam Generator
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Phone Instructor Support
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Glossary and Acronyms
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TC Critical Facts
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Real-Time Content Updates
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Report Center
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On-Demand Video Lectures
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Checkpoint Exams
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eBook
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SpotCheck Quizzes
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Online Instructor Support
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Online Flashcards
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Live Focused Webinars
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*Securities products are available through Training Consultants, an ExamFX brand. Click this button to checkout on TrainingConsultants.com
Virtual Training Schedule - Live Webinars
Reduce the stress of self-study with the Live Online Package and live focused webinars. Available with package purchase, these webinars break down the most challenging exam topics, equipping you to confidently tackle your exams.
Explore our full virtual training schedule below.
Session dates are subject to change. Access Live Focused Review Webinars with the purchase of a Live Online Package.
Additional Study Materials
Looking to supplement the Textbook Package? Browse our additional study materials. The following Study Materials are included in the Online Course and Live Online Study Packages.
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Exam Center
Access practice exams that mimic the actual exam. Test at multiple levels to gauge your knowledge level, identify areas needing improvement, and identify your level of readiness for exam day. Included in the Live Online and Online Course Packages.
Learn MoreExam Details
Everything you need to know about the exam before you register and start your preparation journey.
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45
Multiple-Choice Questions
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1h 0m
Time to Complete
70%
Passing Score Required
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$90
Exam Cost
What is the Series 31 Exam?
The Series 31, the Futures Managed Funds Examination, is the National Futures Association (NFA) exam administered by FINRA. In most cases, this exam is required for individuals applying for NFA membership as a futures commission merchant (FCM), retail foreign exchange dealer (RFED), introducing broker (IB), commodity pool operator (CPO), or commodity treading advisor (CTA), or as an associated person (AP) or these entities.
Definitions and Terminology
- Key Terms
- Commodity Pool Operator (CPO), Commodity Trading Advisor (CTA)
- Futures Commission Merchant (FCM), Introducing Broker (IB)
- Net Asset Value (NAV), drawdown, leverage, margin
- Account Types
- Discretionary accounts, limited partnerships
- Performance Metrics
- Management and incentive fees
- High-water marks and performance reporting
Futures Market – Concepts, Theories, Economic Factors and Indicators, Participants
- Market Structure
- Role of CTAs, CPOs, FCMs, IBs, and exchanges
- Economic Influences
- Interest rates, inflation, global events
- Yield curve and cost of carry
- Trading Concepts
- Hedging, basis, spread trades, price volatility
- Marking-to-market and settlement procedures
Futures Trading Calculations
- Margin and Leverage
- Calculating margin requirements and leverage ratios
- Performance and Fees
- Management and incentive fee structures
- Calculating returns and drawdowns
- Impact of Fees
- Effect of upfront fees and organizational expenses on net performance
Futures Regulatory Requirements
- Registration and Disclosure
- NFA and CFTC registration requirements
- Disclosure documents and offering memoranda
- Supervision and Compliance
- NFA Compliance Rules 2-4, 2-9, 2-13, 2-29, and 2-30
- Supervisory responsibilities and internal controls
- Books and Records
- Recordkeeping requirements for promotional materials and customer communications
Risks Associated with Futures Trading
- Market Risk
- Volatility and price fluctuations
- Leverage Risk
- Amplified losses due to high leverage
- Operational Risk
- Technology failures, execution errors
- Suitability and Disclosure
- Know Your Customer (KYC) and risk disclosure obligations
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