I passed the FINRA Series (Commodity Futures Branch Manager) 30 exam this evening with flying colors as I move through the process of moving my CTA firm from exempt status to officially registered with the NFA, giving us the ability to actively solicit new accounts.
I thought I would pass along recommendations of the 2 study guides that I used to prepare for the test. The first was “Series 30 Exam Secrets” published by Momentrix Media, LLC
The book did a good job of covering all of the core rules and regulations that must be followed when operating a CTA branch office as well as some general strategies for answering multiple choice questions.
I also purchased an online study guide from the “Center for Futures Education, Inc.” located at:
They have a printable and online version that is divided into sections including:
- General Market Knowledge
- General Regulations
- CPO/CTA Regulations
- CPO/CTA Disclosure Documents
- Disclosures by CPOs and CTAs Required for Upfront Fees
- Disclosure by FCMs and IBs Required for Costs Associated with Futures Transactions
- IB General
- General Account Handling and Exchange Regulations
- Discretionary Account Regulations
- Promotional Materials
- Anti-Money Laundering Requirements
Each section concludes with a short 5-10 questions quiz. There are also 2-50 question final exams at the end of the course, as well as the option to purchase a 3rd Exam for $15 (which I did).
I was a little uneasy with the exams as most of the questions were true/false with only a few multiple choice sprinkled in, and I was unsure if the real Series 30 test would be organized in the same manner. Fortunately it was, and probably more than 90% of the questions were true/false.
I probably spent no more than 10 hours between the 2 study guides and taking the practice exams and ended up with a 90% score on the actual exam. I’d recommend both of these resources if you are looking for study guides for the Series 30 exam.