Wiley Series 3 Exam Review Test Bank. The National Commodities Futures Examination. Wiley FINRA

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1 Brochure More information from Wiley Series 3 Exam Review Test Bank. The National Commodities Futures Examination. Wiley FINRA Description: The go to guide to acing the Series 3 Exam! Created by the experts at The Securities Institute of America, Inc., Wiley Series 3 Exam Review 2016 arms you with what you need to score high on the test and pass the Series 3 Exam. Designed to let you build and fine tune your knowledge of all areas covered and guarantee that you're prepared mentally and strategically to take the test, it provides: - Hundreds of examples - Assorted practice questions for each subject area covered in the exam - Priceless test taking tips and strategies - Helpful hints on how to study for the test, manage stress, and stay focused The National Commodities Futures Examination (Series 3) is an entry level exam that qualifies individuals for registration to transact business in commodity futures and options on futures. This intense two and a half hour test is the must pass exam for aspiring financial professionals. The exam consists of 120 questions about everything from future trading theory, futures margins, option premiums, basic hedging, spreading, speculation, and the rules and regulations of the CFTC/NFA. Wiley Series 3 Exam Review 2016 is your ticket to passing the test with flying colors on the first try and becoming a registered Commodity Futures Representative. Visit [external URL] for more information. The Securities Institute of America, Inc. helps thousands of securities and insurance professionals build successful careers in the financial services industry every year. Our securities training options include: - Onsite classes - Private tutoring - Classroom training - Interactive online video training classes - State of the art exam preparation software - Printed textbooks - Real time tracking and reporting for managers and training directors As a result, you can choose a securities training solution that matches your skill level, learning style, and schedule. Regardless of the format you choose, you can be sure that our securities training courses are relevant, tested, and designed to help you succeed. It is the experience of our instructors and the quality of our materials that make our courses requested by name at some of the largest financial services firms in the world. To contact The Securities Institute of America, visit us on the web at [external URL] or call Contents: ABOUT THE SERIES 3 EXAM ix ABOUT THIS BOOK xiii ABOUT THE TEST BANK xv ABOUT THE SECURITIES INSTITUTE OF AMERICA xvii CHAPTER 1 FUTURES AND FORWARDS 1 The Spot Market 1

2 Forward Contracts 2 Futures 3 Trading Futures on the Floor of the Exchange 4 Clearinghouse 5 Clearing Member Margin Calculations 7 Basis Grade 8 Pretest 11 CHAPTER 2 TRADING COMMODITY FUTURES 15 Types of Orders 15 Market Orders 16 Buy Limit Orders 16 Sell Limit Orders 16 Stop Orders/Stop Loss Orders 17 Buy Stop Orders 18 Sell Stop Orders 18 Stop Limit Orders 19 Other Types of Orders 19 Pretest 29 CHAPTER 3 FUTURES PRICING 31 Contract Sizes and Pricing 31 U.S. Treasury Futures 35 Stock Index Futures 36 Index Future Settlement 37 Single Stock Futures 37 Foreign Currency Futures 38 Pretest 41 CHAPTER 4 PRICE FORECASTING 45 Futures Market Pricing Structure 45 Agricultural Futures Pricing 48 Government Agricultural Programs 49 Crop Year 49

3 Technical Analysis 50 Pretest 57 CHAPTER 5 SPECULATION AND HEDGING 61 Speculation 61 Margin 64 Maintenance Margin 66 Changes to the Margin Requirement 70 Hedging 71 How to Manage an Imperfect Hedge 75 A Change in Basis Price 76 Hedging Financial Risks 79 Pretest 87 CHAPTER 6 COMMODITY FUTURES OPTIONS AND COMMODITY FUTURES SPREADS 91 Option Classifi cation 91 Option Classes 92 Option Series 92 Bullish vs. Bearish 92 Possible Outcomes for an Option 93 Managing an Option Position 94 Buying Calls 94 Selling Calls 96 Buying Puts 98 Selling Puts 99 Option Premiums 101 Intrinsic Value and Time Value 103 Multiple Option Positions and Strategies 104 Long Straddles 104 Short Straddles 107 Spreads 110 Analyzing Spreads/Price Spreads 111 Bull Call Spreads/Debit Call Spreads 111 Spread Premiums Bull Call Spread 113

4 Bear Call Spreads/Credit Call Spreads 114 Spread Premiums Bear Call Spread 116 Bear Put Spreads/Debit Put Spreads 117 Spread Premiums Bear Put Spread 118 Bull Put Spreads/Credit Put Spreads 119 Spread Premiums Bull Put Spread 120 Synthetic Risk and Reward 121 Delta 123 Spreading Futures Contracts 123 Pretest 127 CHAPTER 7 CFTC & NFA AND REGULATIONS 131 The Commodity Exchange Act of Futures Commission Merchant 133 Introducing Broker 134 Commodity Pool Operator 134 Commodity Trading Adviser 136 Risk Disclosure Documents 136 Additional Disclosures by CTAs and CPOs 142 Customer Accounts 143 Arbitration 148 The CFTC Reparation Process 149 Written Communication with the Public 154 Pretest 159 ANSWER KEYS 163 GLOSSARY OF EXAM TERMS 171 INDEX 185 Ordering: Order Online - Order by Fax - using the form below Order by Post - print the order form below and send to Research and Markets, Guinness Centre,

5 Taylors Lane, Dublin 8, Ireland.

6 Page 1 of 2 Fax Order Form To place an order via fax simply print this form, fill in the information below and fax the completed form to (from USA) or (from Rest of World). If you have any questions please visit Order Information Please verify that the product information is correct. Product Name: Web Address: Office Code: Wiley Series 3 Exam Review Test Bank. The National Commodities Futures Examination. Wiley FINRA SC Product Format Please select the product format and quantity you require: Hard Copy (Paper back): Quantity USD USD 27 Shipping/Handling * Shipping/Handling is only charged once per order. * The price quoted above is only valid for 30 days. Please submit your order within that time frame to avail of this price as all prices are subject to change. Contact Information Please enter all the information below in BLOCK CAPITALS Title: Mr Mrs Dr Miss Ms Prof First Name: Last Name: Address: * Job Title: Organisation: Address: City: Postal / Zip Code: Country: Phone Number: Fax Number: * Please refrain from using free accounts when ordering (e.g. Yahoo, Hotmail, AOL)

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