Perhaps it’s the changing leaves or the nostalgic smell of pumpkin pie wafting through the office, but this fall has Solomon Exam Prep reflecting on the past year. Continue reading
Perhaps it’s the changing leaves or the nostalgic smell of pumpkin pie wafting through the office, but this fall has Solomon Exam Prep reflecting on the past year.
In particular, we’d like to look back on the MSRB’s launch of the Municipal Advisor Representative Qualification Exam—commonly known as the Series 50 exam. The MSRB officially launched this exam in 2016, but the exam wasn’t mandatory for municipal advisors until September 12, 2017.
The first exam of its kind and a huge success, the MSRB reports that more than 3,000 individuals passed the Series 50 exam before the September 12 deadline—and over 22% of those new municipal advisors used Solomon Exam Prep to study and pass their Series 50 exam.
The MSRB still has big plans coming down the line. The municipal securities regulator intends to launch the brand new Municipal Advisor Principal Exam (Series 54) in 2019. And when it does, like with the Series 50, Solomon Exam Prep will be ready with another robust study program to help individuals pass this new municipal supervisory exam quickly and painlessly.
If you’d like a free consultation with Solomon about your firm’s licensing and registration program or you’d like to set one up, please call us at 503-601-0212 or email Jeremy@SolomonExamPrep.Com.
In the meantime, Solomon Exam Prep would like to extend a congratulations to the 3,000 and counting municipal advisors who passed the Series 50 this past year. Treat yourself to a slice of pumpkin pie.
I haven’t taken an exam in about 15 years and I’m happy to report that I passed the Series 50 Municipal Advisor exam on my first attempt. Continue reading
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Congratulations to Elizabeth H., this month’s Study Question of the Month winner!
Submit your answer to firstname.lastname@example.org to be entered to win a $10 Starbucks gift card.
Relevant to the Series 50 and Series 52.
A particular $5,000 bond matures in 5 years. What are the bond years on this single bond?
A. 5 bond years
B. 25 bond years
C. 25,000 bond years
D. 1,000 bond years
When calculating bond years, the number of bonds is the number of $1,000 increments, even if the bonds are issued in a different denomination. Thus, this bond is considered to be 5 bonds (in $1,000 increments). Then multiply the number of bonds by the maturity of the bond (in years). 5 bonds x 5 years = 25 bond years.
Many thanks to the fine staff at Solomon Exam Prep. Continue reading
If you are a municipal advisor representative and have not yet passed the Series 50 exam, time is running out. As of this writing, you have 78 days until the September 12 deadline. After that, you will not be able to engage in municipal advisory activities until you have a Series 50 license. Continue reading
If you are a municipal advisor representative and have not yet passed the Series 50 exam, time is running out. As of this writing, you have 78 days until the September 12 deadline. After that, you will not be able to engage in municipal advisory activities until you have a Series 50 license.
A municipal advisor is any firm that provides advice to, or on behalf of, municipal entities or an obligated person, and a municipal advisor representative is an individual who works on the municipal advisor’s behalf.
According to Lynette Kelly, executive director of the MSRB, in The Bond Buyer, “after September 12, any firm that doesn’t have an individual qualified [as a municipal advisor representative] cannot represent that they can engage in municipal advisory activities.” In other words, you can’t do the work without the license.
The MSRB released the 110-question permanent Series 50 exam September 12, 2016, allowing municipal advisor representatives a one-year grace period to pass the test and get a Series 50 license.
If you fail the Series 50 exam, you must wait 30 days before taking it again. If you fail three times in a row, you must wait 180 days before retaking it.
Need help? The Solomon Exam Prep pass rate for the Series 50 exam is 94.29%. Click here for more information, or give us a call at 503-601-0212 for more information!
Your study material laid a great foundation in my understanding of the tested material and was instrumental in my passing the Series 50. Continue reading
If you’ve ever traded securities or studied for a securities licensing exam, then you’ve probably come across T+3. No, it’s not an herbal supplement or an embarrassing medical procedure. Continue reading
If you’ve ever traded securities or studied for a securities licensing exam, then you’ve probably come across T+3. No, it’s not an herbal supplement or an embarrassing medical procedure. T+3 refers to the regular-way settlement period for most securities transactions. This means that securities must be paid for and delivered by three business days from the trade date. T+3 also means you don’t become the owner of record of a security until three business days after you purchase it.
Well, add T+3 to the list of things that have gone out of style. Effective May 30, 2017, the SEC will shorten the regular-way settlement period to two business days. And so will begin the age of T+2, which is intended to “increase efficiency and reduce risk for market participants,” according to SEC Acting Chairman Michael Pinowar.
This shorter settlement period for the trading of secondary market securities has been discussed by the SEC for years. The change is expected to lower margin requirements for clearing agency members, reduce liquidity stress when markets are volatile, and harmonize settlement with European markets, which moved to T+2 in 2014.
This settlement period will not apply to every securities transaction, though. T+2, like T+3 before it, will apply to:
- Municipal securities
- Exchange-traded funds
- Mutual funds traded through a brokerage firm
- Unit investment trusts
- Limited partnerships that trade on an exchange
The securities industry moves fast. Don’t get left behind! Visit www.solomonexamprep.com or call us at 503-601-0212 for more information about the latest securities exam preparation and education.
Solomon has helped thousands pass their Series 6, Series 7, Series 24, Series 26, Series 27, Series 28, Series 50, Series 51, Series 52, Series 53, Series 62, Series 63, Series 65, Series 66, Series 79, Series 82, and Series 99.
As of September 12, 2016, the MSRB has opened the Series 50 permanent exam for municipal advisor firms to register their municipal advisor representatives. Continue reading
As of September 12, 2016, the MSRB has opened the Series 50 permanent exam for municipal advisor firms to register their municipal advisor representatives.
Here are a few things to remember:
- If you are required to take the Series 50 exam, you have a one-year grace period (ending September 12, 2017) during which you can engage in municipal advisory activities before you must pass the exam.
- If you took the Series 50 pilot exam and did not pass, your first attempt at the Series 50 permanent exam is free.
- The passing score for the Series 50 exam is 71%.
- You have 180 minutes to complete the test.
- The exam fee is $265.
- If you used Solomon’s pilot exam study materials and did not pass, we will renew your materials at no charge. Just give us a call at 503-601-0212.
Visit http://apps.finra.org/testcenter/1/locations.aspx to find a testing location near you!
With the release of the Solomon Exam Prep app, you have full mobile access to your Solomon study materials with the click of a button. Continue reading
Do you need to take a securities licensing exam?
Do you wish you had more time to study?
With the release of the Solomon Exam Prep Android app, you have full mobile access to your Solomon study materials at the click of a button.
- Easier and quicker—Just click the Solomon Exam Prep icon on your phone to be taken directly to your account.
- Access all your materials—The app provides full site functionality and access to your study guide, exam simulator, audiobook, and video lecture.
- No typing on tiny keyboards—Don’t worry about typing in a web address! Our app will take you right where you need to be.
Move into the future of mobile securities exam prep with the Solomon Exam Prep app!
To download the app, please visit: goo.gl/IkNceh
Solomon Exam Prep has helped thousands of financial professionals pass their FINRA, NASAA, and MSRB licensing exams, including the Series 6, Series 7, Series 24, Series 26, Series 27, Series 28, Series 50, Series 51, Series 52, Series 53, Series 62, Series 63, Series 65, Series 66, Series 79, Series 82, and the Series 99.
If you plan to take the Series 50 exam, then I strongly recommend that you give yourself the edge that Solomon’s study materials provide.
Boston, MA Continue reading