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
MATERIALS
PACKAGE
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.
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!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 Simulator, the 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.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
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- A speedy response
- Direct access to Solomon professors
- Personalized help
"The Ask the Professor and live chat features were excellent!"
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*Limited to one question per day.
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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.
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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?
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How long should I prepare for the Series 51 exam?
We recommend studying 60 hours over a four-week period.
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STUDY GUIDE
EXAM SIMULATOR
| Number of Questions | 10 |
| Time Duration | Untimed |
| Answer Feedback Instant validation and rationale |
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| Percentage required to pass | 70% |
AUDIOBOOK
| 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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