Client Relationship Management Flashcards
7 cards from real Series 3 – The National Commodities Futures Test practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Client Relationship Management flashcards as text
Which statement in promotional material would violate NFA Rule 2-29?
Answer: "Profits are virtually assured with our trading system."
Promotional material may not be misleading or promise or guarantee profits.
Hypothetical trading results in a promotion must carry a disclaimer stating what?
Answer: They have inherent limitations and may not reflect actual trading
Hypothetical results carry a required cautionary statement about their inherent limitations.
By what time must an FCM generally send a customer a confirmation of an executed trade?
Answer: Promptly, no later than the next business day
CFTC rules require confirmations promptly, by the next business day after execution.
NFA requires member firms to keep written customer complaint records for how long?
Answer: Five years
NFA recordkeeping rules require retention of written complaint records for five years.
A client wants to trade options on futures. What must the firm provide before opening the options account?
Answer: An Options Disclosure Statement
Customers must receive an options disclosure statement before options trading begins.
How should an AP describe futures margin to a new customer?
Answer: A good-faith performance bond that can require additional funds
Futures margin is a performance bond, and losses can exceed the initial deposit.
NFA Rule 2-4 requires members and associates to observe which standard in dealings with customers?
Answer: High standards of commercial honor and just and equitable principles of trade
Rule 2-4 sets the ethical standard of commercial honor and just and equitable principles of trade.
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Sources & references
Exam facts on this page (fees, format, dates, passing scores) are checked against these official sources; the date is our last check. Editorial policy
- finra.org — Score release, test dates, test delivery, fees, exam format, passing score · verified Oct 2026
- nfa.futures.org — Eligibility, score validity · verified Oct 2026