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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%.
The Limited Futures Examination - Regulations (Series 32) is offered to individuals who are registered by regulatory authorities in jurisdictions outside the United States where the NFA has determined that proficiency requirements are similar to its own.
Implementation and Amendment Dates of Qualification Examinations. Title. Effective Dates. Securities Industry Essentials (SIE) Exam. 10/2018 – present. Series 3 – National Commodities Futures Exam. 1966 – present. Series 4 – Registered Options Principal Exam. 04/1975 – present.
Beginning June 9, 2023, candidates will need an approved accommodation to schedule an online appointment for an NFA or FINRA exam (other than the SIE). Online appointments scheduled to be taken after Sept. 9, 2023, will be canceled if the candidate does not have an approved accommodation.
To become registered, securities professionals must pass qualifying exams administered by FINRA to demonstrate their competence in the particular securities activities in which they will work. An individual must pass the exams prior to engaging in those areas of the business.
The Series 32 Exam, designed by the National Futures Association (NFA), provides testing relief to individuals registered in qualified non-U.S. jurisdictions — currently only Canada and the United Kingdom*. Any questions regarding eligibility should be directed to NFA prior to taking the Series 32.
The NFA Limited Futures Examination - Regulations, commonly called the Series 32, is offered to individuals who are registered by regulatory authorities in jurisdictions outside the U.S. where the NFA has determined that proficiency requirements are similar to its own.
