CTA exam prep - resources ?

[syswizard]

I have not been able to find any resources (books, videos, PDF files, etc.) that would help someone who is preparing to take the CTA exam from FINRA.
Any sources greatly appreciated.

 

[TheDawn]

You should contact the CFTC and NFA to find out how to prep. for this exam. It's a proficiency exam administered by the NFA.

 

[CannonTrading_Ilan]

There is no CTA exam "per se". You need to become a series 3 licensed broker.
Create a DDOC ( disclosure document) and more.
I have assisted more than a few clients in the process and happy to assist more via PM if interested.

You can read a bit more on the NFA site as well.
https://www.nfa.futures.org/registration-membership/who-has-to-register/cta.html

 

[syswizard]

Thanks much IIan, but I don't "see" the Series 3 requirement:

Registration Requirements for CTAs
To register as a CTA and become an NFA Member:

1) Designate a Security Manager in order to obtain secure access to NFA's Online Registration System (ORS)
2) Complete online Form 7-R
3) Complete online NFA membership application, if applicable
4) Pay a non-refundable application fee of $200
5) Complete online Annual Questionnaire
6) Pay non-refundable CTA membership dues

 

[CannonTrading_Ilan]

Thanks much IIan, but I don't "see" the Series 3 requirement:

Registration Requirements for CTAs
To register as a CTA and become an NFA Member:

1) Designate a Security Manager in order to obtain secure access to NFA's Online Registration System (ORS)
2) Complete online Form 7-R
3) Complete online NFA membership application, if applicable
4) Pay a non-refundable application fee of $200
5) Complete online Annual Questionnaire
6) Pay non-refundable CTA membership dues

I can see from reading it is not as clear as should be but if you dig in a bit more to see what AN AP is required, you will see the series 3 in there. NFA is very helpful and you can call directly and confirm details etc.:

https://www.nfa.futures.org/registration-membership/how-to-register/proficiency-requirements.html

 

[CannonTrading_Ilan]

There some exemptions and some trades will manage a small number of family/ friends etc. but if you are planning to hold yourself out to the public as a CTA you will need to register after passing the series 3 exam. I am happy to share some of my experience and provide a personal opinion of which route may be best for you if interested and after learning more specifics on your trading history, business plans, your own situation etc.

 

[syswizard]

I called them up.
The series 3 is required for only those identified as an Associated Person. That would not apply to me.

 

[CannonTrading_Ilan]

Will you be trading the funds? will you be talking to clients? raising money? if so you will need to become an Associated Person.

I am not a compliance person specifically but I am happy to refer you to a compliance consultant if you like and even before that chat on the phone or in private, when/ if ready/interested.

 

[nrstrader]

For any test at this point you should be drilling with Anki and learn to make your own Anki decks and cards.
I actually think at some point in the future tests will be made much harder because of Anki and right now it is a massive advantage compared to those who don't use Anki. Making your cards and decks is a form of active learning in itself.

Right now it has really only made roads in medical school because of the volume of material to learn but it just makes learning so much easier compared to traditional methods for pretty much anything.

 

[syswizard]

Will you be trading the funds?

NO

raising money?

NO

will you be talking to clients?

Of Course.

Hard to believe I would need to go thru the entire Series 3 exam process just for talking to clients.
So would the clients call the NFA and establish a complaint if I talked to them ?
Not likely.