Series 51 — Municipal Fund Securities Limited Principal Qualification Exam

The MSRB Municipal Fund Securities Limited Principal Qualification Exam (Series 51) qualifies you to oversee the municipal fund securities activities of a broker, dealer, or municipal securities dealer. You may need to manage individuals who work in multiple capacities relating to municipal fund securities, including underwriting, sales, trading, advising, and consulting with issuers of municipal fund securities. To take the Series 51 exam, you must be sponsored by your firm. Obtaining the Series 51 license requires passing the corequisite Series 24 or Series 26 exam. Read more Series 51 FAQs.

Solomon Exam Prep’s innovative study system has helped thousands pass their securities exams. Explore Solomon’s Series 51 study materials below and get started on your path to becoming a Municipal Fund Securities Limited Principal!

QUICK LOOK:

  • RECOMMENDED STUDY TIME: 60 hours
  • EXAM LENGTH: 60 questions
  • EXAM TIME: 1 hour & 30 minutes
  • PASSING SCORE: 70%
  • TAKING EXAM: Testing is done via Prometric
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Study Guide
ONLINE STUDY GUIDE

The Solomon Series 51 Study Guide, written in clear easy-to-understand language, contains the information you need to know to pass your exam. Comprehensive and continually updated, the Solomon Series 51 Study Guide has helped thousands pass their exam. The Study Guide contains charts, graphs and practice questions, as well as a glossary of key terms.

To see a sample of the online Study Guide, click here

The Solomon Series 51 Study Guide, written in clear easy-to-understand language, contains the information you need to know to pass your exam. Comprehensive and continually updated, the Solomon Series 51 Study Guide has helped thousands pass their exam. The Study Guide contains charts, graphs and practice questions, as well as a glossary of key terms.

The Study Guide is available in your online Solomon account (this digital guide requires Internet connection and is not downloadable).

To see a sample of the online Study Guide, click here. 

If you'd like a physical book, a hard copy upgrade is available (shipping & handling will apply) that contains the same content as the online version in your Solomon account.

To see a sample of the hard copy Study Guide, click here

Please note: This sample of the hard copy is in PDF form to show the look of the hard copy only, but Solomon Study Guides are not available as PDFs.

Exam Simulator
EXAM SIMULATOR

Designed to work with the Solomon Series 51 Study Guide, the Solomon Series 51 Exam Simulator offers thousands of practice questions so you can hone, track and assess your knowledge. Once you’ve read the Study Guide, the Exam Simulator allows you to use and practice what you’ve learned. 

Sample a free demo of our Series 51 Online Exam Simulator here!

Designed to work with the Solomon Series 51 Study Guide, the Solomon Series 51 Exam Simulator offers thousands of practice questions so you can hone, track and assess your knowledge. Once you’ve read the Study Guide, the Exam Simulator allows you to use and practice what you’ve learned.

The 180-day subscription to the Solomon Series 51 Exam Simulator offers:

• Over 1,100 original Series 51 practice questions with robust rationales which clearly explain why a specific answer is correct

• Questions updated continually to keep up with regulatory and industry changes

• Self-assessment tools that helps you identify areas that require more study

• An unlimited number of 10-question quizzes based on chapters of the Study Guide  

• An unlimited number of 60-question untimed practice exams with immediate answer feedback

• An unlimited number of 60-question timed practice exams

Exam simulator subscriptions are limited to one individual.

Sample a free demo of our Series 51 Online Exam Simulator here!
Audiobook
AUDIOBOOK

If you like to listen, the Solomon Series 51 Audiobook offers you the perfect way to study for your exam while you’re commuting, working out or doing the dishes! The Solomon Series 51 Audiobook is a 4.5-hour audio recording of the Solomon Series 51 Study Guide. The guide is written in clear easy-to-understand language and contains the information you need to know to pass your exam.

To listen to a sample click here.

If you like to listen, the Solomon Series 51 Audiobook offers you the perfect way to study for your exam while you’re commuting, working out or doing the dishes! The Solomon Series 51 Audiobook is a 4.5-hour audio recording of the Solomon Series 51 Study Guide. The guide is written in clear easy-to-understand language and contains the information you need to know to pass your exam.

The Solomon Series 51 Audiobook is a verbatim reading of The Solomon Exam Prep Guide to the Series 51.

The Series 51 Audiobook is a great companion to the Series 51 Online Exam Simulatorthe industry-leading online testing program that ensures you are learning and retaining the information. 

 Available in the following formats:

  • Streaming Audio + Instant MP3 download

The MP3 files are compatible with all major MP3 players, including but not limited to: iPods, iTunes, Zune, Sony, MP3 CD Players, MP3 Walkman, Windows Media Player and QuickTime.

(Note for iPod, iPhone, and iPad users: MP3 files must be downloaded to a computer and added to iTunes before being transferred to your device.)

To listen to a sample click here.
WHAT CUSTOMERS SAY ABOUT SOLOMON'S MUNICIPAL FUND SECURITIES LIMITED PRINCIPAL QUALIFICATION EXAM

I just passed the S51 with an 86%. I want to express my sincere thanks to Solomon. I love the way you structure your practice exams. I always enjoy receiving speedy responses from Ask the Professor, especially from Karen. Karen, thank you for all your help, you are the best!!!!!!!

Margaret Chen, PFS Investment, Duluth, GA

ADDITIONAL FEATURES
STRENGTH BREAKDOWNS
Refine your Exam Simulator practice with detailed exam results. Solomon reports analyze which topics you’re strong in and which require more study so that you can focus your attention on the subjects that need your attention the most.
ASK THE PROFESSOR
Solomon students can click the Ask the Professor button and get:

  • A speedy response
  • Direct access to Solomon professors
  • Personalized help

"The Ask the Professor and live chat features were excellent!"

Carol G, New York
STUDY SCHEDULES
Interactive online study schedules help you master the exam study material with maximum efficiency. Choose a study schedule based on your timeline and expected exam date. You can edit, delete, and check off completed items or create custom items. You’ll find detailed instructions for what to do every step of the way.
INTERACTIVE REVIEW
This Exam Simulator feature makes it easy to review the questions you’ve gotten wrong on quizzes and exams. The interactive review is untimed, ungraded and you receive immediate feedback on your answers.
FREQUENTLY ASKED QUESTIONS ABOUT THE SERIES 51
  • What does a Series 51 license allow me to do?

    The municipal fund securities limited principal was created by the MSRB to license individuals who have primary responsibility for overseeing the municipal fund securities activities of a broker, dealer, or municipal securities dealer. The Series 51 is shorter than the Series 53 (60 questions vs 100) and focused on 529 college savings plans. These plans are considered municipal securities because they are offered by states. A Series 51 municipal fund securities limited principal MANAGES, DIRECTS or SUPERVISES one or more of the following activities:  

    • underwriting of municipal fund securities  
    • trading of municipal fund securities
    • selling municipal fund securities to customers
    • rendering of financial advisory or consultant services to issuers of municipal fund securities
    • communications with customers about any of the above activities
    • maintaining records on the above activities
    • processing, clearing, and (in the case of securities firms) safekeeping of municipal fund securities
    • training of principals or representatives.

  • What subjects does the Series 51 exam test?

    The Series 51 exam tests your knowledge of seven topic areas:
    • Regulatory Structure – 3 questions (5%)
    • Product Knowledge – 16 questions (27%)
    • General Supervision – 10 questions (17%)
    • Fair Practice and Conflicts of Interest – 10 questions (17%)
    • Sales Supervision – 11 questions (18%)
    • Underwriting and Disclosure Obligations – 4 questions (6%)
    • Operations – 6 questions (10%)

    See the MSRB Series 51 Exam Outline for more details.

  • Are there any prerequisites for the Series 51?

    You must also pass a corequisite exam to obtain the Series 51 license: either the Series 24 or Series 26

  • How long should I prepare for the Series 51 exam?

    We recommend studying 60 hours over a four-week period.

SERIES 51 PRODUCT SAMPLES

STUDY GUIDE

Guide Sample

EXAM SIMULATOR

Number of Questions10
Time DurationUntimed
Answer Feedback
Instant validation and rationale
Percentage required to pass70%

AUDIOBOOK

Thank you for listening to our audio samples. Purchase this audiobook to unlock all of the tracks.
Track Title Bookmark Length Download
3 Introduction 0:00 11:44
7 Chapter Two: Product Knowledge: Municipal Fund Securities 0:00 14:32
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