Series 51: Municipal CMOs

Taken from our Series 51 Online Guide

Municipal CMOs

For municipal collateralized mortgage obligations, the confirmation must include a statement indicating that the actual yield may vary based on various factors. The confirmation should also state that information about the factors that affect yield will be furnished to the customer upon request. CMOs are asset-backed securities that consist of interests in pools of mortgage loans.

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I am still so giddy that I passed my Series 7 on 1/31. I truly cannot believe it. I took the 7 three times in 2019 utilizing Kaplan study materials and didn't feel good going into the tests any of the times. So shockingly I failed all three times by a lot. My highest score was a 68%. I used Solomon for my 51 in September (passed on the first try) so I thought I could try it for my 7 even though it is the hardest securities test I have taken. I felt so good going into the testing center and I passed!!! I am so grateful to have found your materials. They have been incredibly helpful and I am able to understand all the material covered in the books. I still am in shock that I passed. Now off to the 24!

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