Series 32 Exam Meaning & Definition

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Definition of Series 32 Exam

The Limited Futures Exam, or Series 32 exam, was created to help those individuals who have achieved licensing in the United Kingdom show their proficiency in the US. This is an abridged version of the Series 3 exam.

Topics for the Series 32 exam include:

• General Topics
• FCM/IB Regulation
• CPO/CTA Subjects
• Arbitration Procedures
• NFA Disciplinary Procedures

This is a 35 question, true or false exam that must be completed within 45 minutes. To be successful candidates must score a minimum of 70% of their Series 32 exam. The cost for this test is $75.00. Keep in mind this price only reflects the cost of the test its self and does not include any additional registration or testing fees.

Applying "Series 32 Exam" to Securities Exams:

The Series 32 exam can be taken year round at Pearson Vue testing centers. While this test is available year round, it cannot be taken on Sundays. Candidates should be aware of this fact and keep it in mind when they are scheduling their exam and choosing their testing center.

This exam was made possible when the National Futures Association amended Registration Rule 401. This amendment allows those individuals who had successfully passed the required securities and futures exams in the United Kingdom to sit for a smaller version of the US commodity futures exam, or the Series 32 exam. This way the candidates do not have to start from scratch and their current lisencing is taken into account.