Series 34 Exam Prep Training

  Series 31 Online Futures Managed Funds Home Study Course

Sample Series 34 Quiz Here

The Series 34 Retail Off-Exchange Forex license exam is required for those who work with retail customers in off-exchange foreign exchange business. Registrants, or “APs” (associated persons), are referred to as “Forex Individuals” or “Forex APs”. 

Any new registrant will be required to sit for the Series 3 exam and the Series 34 exam to complete registration.

Co-requisite Series 3 exam | $85 test fee (Form U-10) | 60 minute time limit
Test Topics Approximate Test Questions
Definitions and Terminology 10
Forex Trading Calculations 8
Risks Associated with Forex Trading 4
Forex Market - Concepts; Theories; Economic Factors and Indicators; Participants 10
Regulatory Requirements 8
 ***Total Questions*** ***40***

Series 34 Retail Forex Exam Prep Study Materials


Series 31 Online Exam Training


Now in its Second Edition, with up-to-date information, rules and regulations and examples.

Advantages of our online courses:

  • No shipping costs!
  • No waiting for the course to be shipped to you, your PIN number is e-mailed to you automatically when you order!
  • Study your course from anywhere in the world where you have internet access!
  • Immediate feedback practice quizzes promptly reinforce correct answers and build confidence as you prepare for the exam.
  • Free E-mail/Skype Support! If you have questions about our material, the Series 34 Exam, or futures in general we're just an e-mail or chat away with the answer. With access to our tutor, you have all the tools at your disposal to help you pass the exam!

How our online courses work:

  • After you order, we e-mail you a PIN number and URL for username and password creation.
  • Once you create your username and password, you have 60 days of access to the course.
  • The Series 34 is composed of 5 Sections, each with its own practice quiz and 2 Final Exams of 40 questions. You receive 5 accesses to each quiz and 10 accesses combined for the two final exams.
  • Each practice quiz and Final Exam is fully interactive. The course features immediate feedback for each quiz question, and final exams where you take the entire exam, then receive a list of questions you missed.
  • For missed questions, you can view the question, your answer, the correct answer, and explanation, all in one window.
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Table of Contents

  • Chapter 1: Definitions and Terminology
    • Over Seventy Definitions!
  • Chapter 2: Forex Trading Calculations
    • Profit and loss calculations
    • Open trade variation
    • Pip values, price after pips
    • Security deposit, margin
    • Return on collateral
    • Effects-of-leverage calculations
    • Netting of positions
    • Transaction costs
    • Cross rate transactions
    • Summary
    • Option profit and loss calculations
    • Exotic option profit and loss calculations
  • Chapter 3: Risks Associated with Forex Trading
    • Exchange rate risk
    • Operational risk
    • Settlement risk
    • Country risk
    • Credit risk
    • Interest rate risk
    • Liquidity risk
    • Market risk
  • Chapter 4: Forex Market
    • Concepts
    • Market Participants
      • Hedgers
      • Speculators and Arbitrageurs
    • Treasuries and Central Banks
      • U.S. Banking System
      • Fed Monetary Policies
      • Money Creation and Exchange Rate Intervention
    • Inflation
    • Exchange Rate Volatility
    • The Theory of Purchasing Power Parity
    • Balance of Trade and Current Account
    • Capital Account
    • Balance of Payments
    • Fiscal Policy
    • Bank for International Settlements (BIS)
    • International Monetary Fund (IMF)
    • World Trade Organization (WTO)
    • Interbank Funds Transfer and Settlement Systems
      • Clearing House Interbank Payments System (CHIPS)
      • Fedwire®
    • Portfolio Balance
    • Theory of Elasticities
      • Elasticity of Exchange Rates
    • The Fisher Effect
      • The International Fisher Effect
    • Economic Indicators
      • Employment/​Unemployment
      • Consumer Spending
      • Income
      • Industrial Indicators
      • Inflation Indicators
      • Gross National Product and Gross Domestic Product
      • Government Deficits
    • Conclusion
  • Chapter 5: Forex Regulatory Requirements
    • CFTC Jurisdiction and Jurisdictional Limitations
    • Conflicts of Interest
    • Disclosures to Customers/Know Your Customer
      • Rule 2-30
      • Rule 2-34
      • Rule 2-9
    • Jurisdictional and Regulatory Framework
      • Rule 2-36
      • Rule 2-39
      • Rule 2-40
      • Rule 2-41
      • Rule 2-42
    • NFA Interpretive Notice Regarding Forex Transactions
    • NFA Interpretive Notice Compliance Rule 2-36(e): Supervision of the Use of Electronic Systems
    • NFA Notice to Members: Supervision of Forex Promotional Materials
    • NFA Membership and Associate Membership Requirements.
    • Promotional Material and Solicitation.
    • Registration Requirements
    • Reports to Customers, Confirmations, Monthly Summaries
    • Security Deposit Rules
    • Security of Customer Funds, No Segregation


Series 31 Online Futures Managed Funds Home Study Course