Marketing & Business Development 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 Marketing & Business Development flashcards as text
NFA Compliance Rule 2-29 primarily governs which activity?
Answer: Communications with the public and promotional material
Rule 2-29 sets standards for advertising, sales literature, and other communications with the public.
Which statement in a promotional brochure is prohibited?
Answer: Our clients can't lose with this strategy
Promotional material may not guarantee profits or imply that loss is impossible.
A firm's website shows simulated trading results. What must accompany them?
Answer: A cautionary statement on the inherent limitations of hypothetical results
Hypothetical results require a prominent disclosure that they have inherent limitations and may not reflect actual trading.
A promotional piece includes a customer testimonial. Which disclosure is required?
Answer: That the testimonial may not be representative of other customers' experience
Testimonials must disclose they may not represent other customers' experience and are no guarantee of future success.
An advertisement states that the firm is 'approved by the NFA.' What is the problem?
Answer: It is prohibited to state or imply NFA or CFTC approval or endorsement
Registration or membership may be stated, but implying regulatory approval or endorsement is not allowed.
Under federal telemarketing rules, calls to prospects generally may NOT be made:
Answer: Before 8 a.m. or after 9 p.m. at the prospect's local time
Telemarketing calls are restricted to 8 a.m. to 9 p.m. in the called party's local time.
A promotional piece includes a specific trade recommendation. The firm must:
Answer: Have a reasonable basis for it and include appropriate risk disclosure
Recommendations must be supported by a reasonable basis and not present an unbalanced picture of risk.
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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