Let's Pass Series 34!  Here's a GREAT TOOL!

 

This is a very good resource for Series 34 exam facts!  At http://www.examfacts.com they have an excellent study guide filled with basic exam facts for the Series 34 exam.  The book is also available at Amazon.com

 Sample Exam Facts:

What is the Forward Rate?

Add/Subtract forward point from the spot rate calculates the forward rate. Forward rates are market-determined through a bid/offer process. If the base-currency country has a higher interest rate than the quote-currency country, the forward points are subtracted from the spot rate. Conversely, if the base-currency country has a lower interest rate than the quote-currency country, the forward points are added to the spot rate. Forward rates are market-determined through a bid/offer process.

 What is the purpose of a Fundamental Analysis?

The analysis of specific factors, such as current affairs, weather, wars, discoveries, and changes in government policy, which influence supply and demand and prices in the market place.

 What is the purpose of the Futures Commission Merchant (FCM)?

An individual or organization accepting orders to buy/sell futures contracts or futures options, and accepting payment for services. They must be registered with the CFTC and the NFA, and maintain a minimum cap of the greater of $500,000, or a risk-based capital requirement. FCMs who participate in the forex markets, the minimum capitalization requirement is the greatest of $5,000,000 or a risk-based capital requirement.

 What is the Futures Market?

Exchanges where contracts for the future delivery of commodities, such as corn, sugar, silver, cattle, crude oil, and contracts for T-Bonds, currencies, and stock indices are traded. The terms of the contracts (commodity, time of delivery, point of delivery, size of contract, and quality or grade) are standardized by the exchange, making it easier for hedgers and speculators to accomplish their respective goals. Only the price is negotiated between buyers and sellers through their brokers.

 What is the Futures Options Market?

Markets where calls and puts with futures contract as assets are traded. When a call purchaser exercises it’s call, they receives a long futures position, while the call seller (writer, or grantor) is assigned a short futures position. Conversely, when a put purchaser exercises it’s put, they receive a short futures position and the put seller is assigned a long futures position.

What are European Terms?

 In a ratio, the numerator number before the backslash, and the denominator is the number after the backslash, i.e. numerator/denominator.

What is the Exchange Rate?

This is the rate at which one currency can be converted into another.