Info 1: series 31 exam definition
Info 2: how the series 31 works
Info 3: series 31 vs series 6
Info 4: example of series 31
Opening information:
Series 31 exam sentence breaks into three words series, 31, and exam. Series means pieces or part of one whole item, 31 means numbers which is used to represent something, exam means test which is used to qualify someone for something
Series 31 exam means qualified someone or something for specific activities. So now let’s have a look at what is a series 31 exam, how the series 31 exam works, and what is the difference between series 31 and series 6, finally one clear example of series 31.
Info 1: series 31 definition
Whenever any of the person who try or looking to qualify for certain positions in any kind of business, the companies always require any of the degrees or exceptional skills to possess them.
Supposed if the person didn’t have any kind of qualification through exams or tests and at least through experience of physical task by own education they are not positioned in their job for any reason.
However not only does a position of one business job need an exam, but the tests are conducted for everything today before placing someone in their required work or career.
This same concept would be applied in the public market, whenever any person wants to act as a future manager in the future trading market. They just need to take an exam before they qualify for a certain profession.
This exam is what qualifies a certain person as a future manager, the person who lacks the passing mark on this exam would not allowed to become involved in the activities of future markets and commissions.
Here this exam is called a series 31 exam to pull out a qualified person based on the pass marks, so let’s dive into how the series 31 exam works in the public market.
Info 2: How series 31 works
The Series 31 exam represents the person who wants to become the manager or be involved in the activities
of Future managed funds and who looking to make a commission as a broker through the commodities.
In the public market, Futures are any trade that happens in the future at a pre-determined time using any kind of commodities materials such as oil, wheat, crops, gold, silver, diamonds extra…
When such futures trading funds are managed by one person, they are considered to be future-managed funds, they need to take a test to qualify for involvement in certain activities of the public market.
However, the National Future Association and financial regulated authority demand the exam of series 31 to provide a license for such candidates.
This exam occupies 45 questions and each of the questions is considered a multiple-choice question, the candidate for such an exam must need to cross 70 percent of the mark to pass series 31.
Moreover, series 31 doesn’t require any specific amount of basic exam like series 24, it’s an exam that requires the exam taker to answer the 32 questions correctly to pass the examination.
Where they are allowed to finish the exam in one hour no extra time is permitted, Candidates are requested to attend to all the questions because answering all the questions helps the exam taker to score as much as possible marks.
This one-hour time frame of series 31 is not fixed for the entire lifetime, if the exam structure and questions increase in the future, there might be a high chance such time might change.
The series 31 exam charges 85 dollars for a person who taking such examination. people’s con the series 31 and series 6, so let’s jump into the key difference anyway.
Info 3: series 31 series 6 exam
The difference between the series 31 and series 6 exams is, that the series 6 exam refers to a test for qualifying the individual on the company contractual product in Investment companies and banks.
On the other side series 31 is the one that helps the individual to be involved in the activities of future commodities as a manager.
So the key difference between series 31 and series 6 is series 31 involves the commodities and series 6 variable life contract products.
To make you more clear about series 31, let’s look at one clear example below.
Info 4: example of series 31
Say you and your friend had two different goals of achievement in the public market, your friend wants to be involved in the activities of the futures market and you’re looking to be involved in the financial contracts of Investment banks or companies.
Where your goal represents the need for the series 6 exam, and your friend’s goal represents the need for series 31.