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It explains learning tools such as comprehensive and progress exams, diagnostics by chapter, and custom exam creation. It begins with Futures Trading Theory fundamentals: futures contracts versus forwards, buyer and seller obligations, futures exchanges, exchange responsibilities, and the role of major platforms like CME Globex and ICE.",{"@graph":69,"@context":123},[70,84,106],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":20,"@type":76,"position":81},"https://docshare.wps.com/document/exam/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/series-3-learning-guide-workbook-about-the-series-3-exam/393950/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/series-3-learning-guide-workbook-about-the-series-3-exam/393950.png","ImageObject",300,407,{"name":92,"@type":93},"Jake","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-11-09","2026-09-26",true,{"@type":102,"interactionType":103,"userInteractionCount":105},"InteractionCounter",{"@type":104},"ViewAction",12,{"@type":107,"mainEntity":108},"FAQPage",[109,115,119],{"name":110,"@type":111,"acceptedAnswer":112},"How many questions and how much time are allotted for the Series 3 exam?","Question",{"text":113,"@type":114},"The Series 3 exam includes 120 true/false and multiple-choice questions, with two hours and 30 minutes allotted to complete the exam.","Answer",{"name":116,"@type":111,"acceptedAnswer":117},"What are the experimental questions in the Series 3 exam, and do they affect the score?",{"text":118,"@type":114},"Five additional questions are included as experimental and don’t count for or against the score.",{"name":120,"@type":111,"acceptedAnswer":121},"What key differences distinguish futures contracts from forward contracts?",{"text":122,"@type":114},"Futures contracts use standardized quantities and have delivery terms specified by exchange rules, while forwards use variable quantities with negotiable OTC terms; futures can be offset, while forwards cannot.","https://schema.org",{"og:url":83,"og:type":125,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":127,"canonical":83},"index,follow",{"doc_id":129,"site_id":62},393950,1790528078,{"code":4,"msg":5,"data":132},{"doc_id":129,"user_id":133,"nickname":92,"user_avatar":134,"doc_module":4,"category_id":19,"category_name":20,"doc_title":65,"doc_description":67,"doc_content":135,"file_id":136,"file_url":137,"file_type":138,"file_size":139,"view_count":105,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":140,"language":141,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":142,"faqs":143,"seo_title":144,"seo_description":67,"update_tm":145,"read_time":146,"preview_page_count":4},962084928904,"https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d","Series 3  \nNational Commodities Futures  \nLearning Guide / Workbook  \nAbout the Series 3 Exam  \n1  \n120 True/False and Multiple-Choice Questions  \n2  \nTwo Hours and 30 Minutes Allotted to Complete Exam  \n3  \n5 Additional Questions are Included as Experimental (don’t count for or against the score)  \n| Part 1 – Futures Trading Theory and Basic Functions Terminology | Chapters | \\# of Questions |\n| --- | --- | --- |\n| General Theory | 1, 3, 7,\u003Cbr>9 and 11 | 16 (13% of exam) |\n| Futures Margins, Options Premiums, Price Limits, Futures Settlements, Delivery, Exercise, and Assignment | 1, 4, 6 and 11 | 15 (13% of exam) |\n| Types of Orders, Customer Accounts, Price Analysis | 3, 4 and 5 | 11 (9% of exam) |\n| Basic Hedging, Basis Calculations, Hedging Futures | 9 and 10 | 19 (16% of exam) |\n| Spreading | 8 | 3 (3% of exam) |\n| Speculating in Futures | 3, 4, 7 and 10 | 16 (13% of exam) |\n| Option Hedging, Speculating, Spreading | 11 | 5 (4% of exam) |\n| Part 2 – U.S. Regulations | Chapter | \\# of Questions |\n| Regulations | 2 | 35 (29% of exam) |\n\n© Copyright 2022. All Rights Reserved. v07  \nThe following presentation is owned by Securities Training Corporation and is protected by the United States Copyright Law and applicable international, federal, state, and local laws and treaties. The presentation is made available to you for your personal, non-commercial use as a study tool to assist you in preparing for the related examination and no other purpose. ALL OTHER RIGHTS ARE EXPRESSLY RESERVED.  \nAny other use by you, including but not limited to, the reproduction, distribution, transmission or sharing of all or any portion of the presentation, without the prior written permission of Securities Training Corporation in each instance, is strictly prohibited.  \nHow to Begin  \n[My.STCUSA.com](My.STCUSA.com) Exam Center  \nLearning Tool  \n6 Final Examinations  \n􀂃 125-question comprehensive exams  \n􀂃 Show Explanations button may be turned ON or OFF  \n􀂃 Final Exams can be taken 8 times each  \n􀂃 “My Scores” shows Diagnostics by Chapter  \n􀂃 Create a Custom Exam feature  \n􀂃 An unlimited number of Custom Exams can be taken  \nEvaluation Tools  \n3 A/B Progress Exams (6 total)  \n􀂃 Each 20-question exam covers certain chapters  \n􀂃 Explanations provided upon completion  \n􀂃 Progress Exams can only be taken onetime  \n2 Greenlight Exams  \n􀂃 125-question comprehensive exams used to gauge readiness  \n􀂃 Explanations provided upon completion  \n􀂃 Greenlight Exams can only be taken onetime  \nChapter 1 – Commodity Futures  \nFutures Contract  \nEvolved from forward contracts  \nLike a forward contract, both parties to a futures contract have obligations  \n\n| BUYER |  |\n| --- | --- |\n| 􀂃\u003Cbr>􀂃 | Also called a long position\u003Cbr>Obligation to take delivery at expiration |\n\n\n| SELLER |  |\n| --- | --- |\n| 􀂃\u003Cbr>􀂃 | Also called a short position\u003Cbr>Obligation to make delivery at expiration |\n\nFutures and Forwards  \nA contract between a buyer and seller who agree to trade a specific commodity or asset at a later date (i.e. , in the future)  \n\n| Futures | Forwards |\n| --- | --- |\n| A standardized quantity | A variable quantity (as agreed) |\n| Delivery at location and time\u003Cbr>specified by exchange rules (i.e. , regular for delivery warehouse) | OTC-traded with negotiable terms |\n| Non-personal | Personal |\n| Can be offset | Cannot be offset |\n\nIf assigned, some exchanges force acceptance, which is referred to as being “stopped ;”others allow closing trades  \nActivity \\#1 – Futures Contract  \nAn investor sold a wheat futures contract at $5.16 per bushel. At the end of the contract, if the price of wheat has fallen to $4.10 per bushel, which of the following statements is TRUE?  \na. The investor makes delivery.  \nb. The investor takes delivery.  \nc. The contract expires worthless.  \nd. The investor neither makes nor takes delivery  \nFutures Exchanges  \nExchanges will:  \n􀂃 Provide a place to trade  \n􀂃 Set contract terms which must be approved by CFTC  \n– Delivery size  \n– Basis ","cbCaig3lEBp4Ling","https://ap.wps.com/l/cbCaig3lEBp4Ling","pdf",1832357,74,"English","# About the Series 3 Exam\n## True/False and Multiple-Choice Questions\n## Exam Time and Experimental Questions\n## Part 1 – Futures Trading Theory and Basic Functions Terminology\n## Part 2 – U.S. Regulations\n# How to Begin\n## My.STCUSA.com Exam Center\n## Learning Tool\n## Final Examinations\n## Evaluation Tools\n# Chapter 1 – Commodity Futures\n## Futures Contract\n## Futures and Forwards\n## Activity #1 – Futures Contract\n## Futures Exchanges\n## Benefits of Futures Exchanges","[{\"question\":\"How many questions and how much time are allotted for the Series 3 exam?\",\"answer\":\"The Series 3 exam includes 120 true/false and multiple-choice questions, with two hours and 30 minutes allotted to complete the exam.\"},{\"question\":\"What are the experimental questions in the Series 3 exam, and do they affect the score?\",\"answer\":\"Five additional questions are included as experimental and don’t count for or against the score.\"},{\"question\":\"What key differences distinguish futures contracts from forward contracts?\",\"answer\":\"Futures contracts use standardized quantities and have delivery terms specified by exchange rules, while forwards use variable quantities with negotiable OTC terms; futures can be offset, while forwards cannot.\"}]","Series 3 - Learning Guide / Workbook - About the Series 3 Exam | PDF",1790396692,186]