Branch Manager Exam (Series 30) Exam Guide
At a glance
- Questions
- 50
- Time limit
- 1h
- Passing score
- 70%
- Exam fee
- $90
- Governing body
- NFA
The Series 30, officially the NFA Branch Manager Examination, qualifies individuals to supervise a branch office in the futures industry. It's required under NFA Compliance Rule 2-7 for anyone seeking approval as a branch office manager, and the exam is administered through the National Futures Association (NFA).
Overview
The Series 30 focuses entirely on Supervisory Issues rather than general futures trading mechanics. Official NFA study outlines break that supervisory content into topics including:
- Anti-Money Laundering Requirements
- Communications with the Public and Promotional Material (Compliance Rule 2-29)
- Customer Information and Risk Disclosure ("Know Your Customer") (Compliance Rule 2-30)
- CPO/CTA Disclosure Documents and General requirements
- Disclosure by CPOs, CTAs, FCMs, and IBs of costs associated with futures transactions
- Discretionary Account Regulation
- General Account Handling and Exchange Regulations
- IB General requirements
Check the official NFA study outline for the current weighting and any updates to this list.
Cost and registration
The Series 30 exam fee is $90. If you need to cancel or reschedule your appointment, expect an additional $45 fee. Confirm current pricing against NFA's official fee schedule before you register, since fee schedules can change.
Exam format
The exam consists of 50 scored true/false and multiple-choice questions, and candidates have 60 minutes (1 hour) to complete it. A score of 70% is required to pass. There is no corequisite exam, and a passing score remains valid for 2 years from the test date. If you fail, you must wait at least 30 days before a first retake, and at least 180 days before a fourth attempt after a third failure.
Frequently asked questions
How much does the Series 30 exam cost?
The Series 30 exam fee is $90. If you need to cancel or reschedule an appointment, a separate $45 fee applies.
What happens if I fail the Series 30?
You must wait at least 30 days after failing the exam a first or second time before retaking it. After a third failed attempt, the required wait before the fourth attempt increases to 180 days.
Is there a corequisite exam I need to take alongside the Series 30?
No. The Series 30 has no corequisite exam requirement.
How long does a passing Series 30 score remain valid?
A passing score is valid for 2 years from the date you took the exam; NFA registration as a branch office manager generally must be filed within that window.
Who is required to take the Series 30?
Under NFA Compliance Rule 2-7, individuals seeking approval as a branch office manager must pass the Series 30. Check NFA's proficiency requirements for the full list of covered roles.
Is there an exemption from taking the Series 30?
Yes, in some cases. If your sponsoring firm is a registered broker-dealer that can provide proof you're already qualified as a branch office manager or designated supervisor under FINRA rules, you may be exempt.
Sources
- 1.Proficiency Requirements — NFA — NFA (accessed Aug 9, 2026)
- 2.Study Outline for Futures Industry Exams — NFA — NFA (accessed Aug 9, 2026)
- 3.Series 30 – NFA Branch Manager Exam (formerly, Branch Managers Exam – Futures) | FINRA.org — NFA (accessed Aug 9, 2026)
- 4.FINRA Qualification Exams — FINRA
- 5.Enroll for a FINRA Exam — FINRA
Official sources
Every exam fact on this page traces to a primary document published by the body that administers the exam.
- Study Outline for Futures Industry Exams — NFANFAnfa.futures.org
- Series 30 – NFA Branch Manager Exam (formerly, Branch Managers Exam – Futures) | FINRA.orgNFAfinra.org
- Proficiency Requirements — NFANFAnfa.futures.org
Last verified against the official exam content outline: