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A commodity broker is a firm or an individual who executes orders to buy or sell commodity contracts on behalf of the clients and charges them a commission. A firm or individual who trades for his own account is called a trader .
Series 3 – National Commodities Futures Exam* Series 5 – Interest Rate Options Exams; Series 6 – Investment Company and Variable Contracts Exam (Mutual Funds Broker/Variable Annuities) Series 7 – General Securities Representative Exam (Stockbroker) Series 11 – Assistant Representative – Order Processing; Series 15 – Foreign ...
Some state laws and broker/dealer policies also require the Series 63 examination (known as the Uniform Securities Agent State Law Exam). [ citation needed ] [ 1 ] A registered representative ("RR" or "rep" or "broker") is authorized to sell a large array of securities such as stocks, bonds, options, mutual funds, limited partnership programs ...
A CTA is exempt from registration with the NFA if they have provided commodity trading advice to fewer than 15 people and do not generally use the title commodity trading advisor, or if they provide advice only through publications, a computerized system or seminars. [23] Nonetheless, exempt CTAs are still regulated in some form.
The Series 7 is a three-hour, forty-five-minute exam. [1] It is held in one four-hour session. There are 125 questions on the test. Candidates have to score at least 72% to pass. The SIE Exam and the Series 7 Exam are co-requisite exams. [9] Average study time is between 80 and 150 hours depending on current financial knowledge. [10]
Proprietary trading (also known as prop trading) occurs when a trader trades stocks, bonds, currencies, commodities, their derivatives, or other financial instruments with the firm's own money (instead of using customer funds) to make a profit for itself.
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To be eligible to obtain for a US Customs broker license, an individual applicant must satisfy several requirements: he or she must pass the US Customs Broker License Exam (CBLE) with a score of 75% or higher; on or before the date of application, he or she must be a United States citizen, must have attained the age of 21, and must not be a ...