Series 32 – Limited Futures Exam - Regulations
Effective January 19, 2027, the waiting periods for retaking FINRA qualification exams will be reduced as follows:
- 15 days (from 30 days) after the first and second unsuccessful attempts, and
- 60 days (from 180 days) after the third
The new waiting periods will automatically apply to new enrollments and any open enrollments without an appointment. Candidates who have a scheduled exam retake appointment after January 19, 2027, should review whether cancelling and rescheduling for an earlier date is beneficial as rescheduling fees may apply.
January 19, 2027, is the first date FINRA is able to reduce a candidate’s waiting period and requests prior to this date will not be processed.
For additional information, visit FINRA Regulatory Notice 26-18 and the FINRA Qualification Exam FAQ.
For information about NFA exams, visit www.nfa.futures.org.
For questions related to this communication, contact [email protected] for assistance.
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%.
Note: NFA exams are required to be taken in a test center. Online testing for NFA exams will be considered for individuals who live more than 150 miles from a testing center or those who are immunocompromised or experiencing underlying health conditions that put them at an increased risk for severe illness. Learn more by visiting the How to Schedule an Appointment to Take an Exam Online (Remotely) page.
For additional information about this exam, including the content outline, please visit the National Futures Association Proficiency Exam page.
