Series 32 - Limited Futures Exam - Regulations
The Series 32 exam—the Limited Futures Examination-Regulations—is a National Futures Association (NFA) exam administered by FINRA.
The exam consists of 35 scored questions. Candidates have 45 minutes to complete the exam. The passing score is 70%.
For additional information about this exam, including the content outline, please visit the National Futures Association Proficiency Exam page.
Using Reference Material
The test administrator will provide whiteboard/dry erase marker and basic electronic calculators to the candidates, which must be returned to the test center administrator at the end of the testing session. Some test questions involve calculations. Only the provided calculators may be used during the examination.
The examination may contain questions that require the use of exhibits (e.g., charts, graphs, tables). If so, the questions will indicate when to refer to an exhibit.
Candidates are not permitted to bring any reference materials to testing sessions. Severe penalties are imposed on candidates who cheat or attempt to cheat on FINRA administered examinations.
To learn more about logistics and protocols for your exam day, please see On The Day of Your Exam.