Series 53 — Municipal Securities Principal Qualification Exam
The MSRB Municipal Securities Principal Qualification Exam (Series 53) qualifies you to oversee the municipal fund securities activities of a securities firm or bank dealer. You may also supervise associates who work in multiple capacities relating to municipal securities, including underwriting, sales, trading, advising, consulting with issuers, research, investment advising, and communicating with public investors about municipal securities. To take the Series 53 exam, you must have passed the Series 52. You must also be sponsored by your firm. Read more Series 53 FAQs.
Solomon Exam Prep’s innovative study system has helped thousands pass their securities exams. Explore Solomon’s Series 53 study materials below and get started on your path to becoming a Municipal Securities Principal!
QUICK LOOK:
- RECOMMENDED STUDY TIME: 60 hours
- EXAM LENGTH: 100 questions
- EXAM TIME: 3 hours
- PASSING SCORE: 70%
- TAKING EXAM: Testing is done via Prometric
MATERIALS
PACKAGE
The Solomon Series 53 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 53 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 53 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 53 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 53 Study Guide, the Solomon Series 53 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 53 Online Exam Simulator here!
Designed to work with the Solomon Series 53 Study Guide, the Solomon Series 53 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 53 Exam Simulator offers:
• Over 1,200 original Series 53 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 corresponding to the sections of the MSRB exam outline
• An unlimited number of 100-question untimed practice exams with immediate answer feedback
• An unlimited number of 100-question timed practice exams
Exam simulator subscriptions are limited to one individual.
Sample a free demo of our Series 53 Online Exam Simulator here!
If you like to listen, the Solomon Series 53 Audiobook offers you the perfect way to study for your exam while you’re commuting, working out or doing the dishes! The Solomon Series 53 Audiobook is a 9-hour audio recording of the Solomon Series 53 Study Guide. The guide is written in clear easy-to-understand language and contains the information you need to know to pass your exam.
If you like to listen, the Solomon Series 53 Audiobook offers you the perfect way to study for your exam while you’re commuting, working out or doing the dishes! The Solomon Series 53 Audiobook is a 9-hour audio recording of the Solomon Series 53 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 53 Audiobook is a verbatim reading of the Solomon Series 53 Study Guide and is a great companion to the Series 53 Online Exam Simulator, the online testing application that helps you assess how well you are learning and retaining the information.
Available in the following formats:
- Streaming Audio + Instant MP3 download
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.)
Passed 53, Thanks for your help
and study materials, study guide and exam simulators were excellent on test
preparation for the Series 53. When one applies the time with your materials, a
positive outcome can be achieved . Thanks too for answering my
question/questions over the weekend.
Tim Milani, Barrington, IL
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What does a Series 53 license allow me to do?
The municipal securities principal bears primary responsibility for overseeing the municipal securities activities of a securities firm or bank dealer. In this capacity, a municipal securities principal MANAGES, DIRECTS or SUPERVISES one or more of the following activities:
- underwriting of municipal securities
- trading of municipal securities
- buying or selling municipal securities from or to customers
- rendering of financial advisory or consultant services to issuers of municipal 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 securities
- training of principals or representatives
- underwriting of municipal securities
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Is my firm required to have a principal with a Series 53?
MSRB Rule G-3 requires that all brokers and dealers that conduct municipals securities business have at least two municipal securities principals (individuals who have passed the Series 53 exam).
Exceptions to this rule include:
- Dealers that are members of a registered securities association, such as FINRA, and conduct a general securities business; and
- Dealers (including bank dealers) having fewer than eleven full-time employees engaged in the performance of its municipal securities activities.
For those firms whose municipal securities activities are limited exclusively to municipal fund securities, a municipal fund securities limited principal (Series 51) may be counted toward the numerical requirement of two municipal securities principals.
- Dealers that are members of a registered securities association, such as FINRA, and conduct a general securities business; and
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What subjects does the Series 53 exam test?
The Series 53 tests your knowledge of six topic areas:
- Federal Regulations – 4 questions (4%)
- General Supervision – 23 questions (23%)
- Sales Supervision – 25 questions (25%)
- Origination and Syndication – 23 questions (23%)
- Trading – 10 questions (10%)
- Operations – 15 questions (15%)
- Are there any prerequisites for the Series 53?
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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 | |
|---|---|---|---|---|---|
| 2 | Introduction. | 0:00 | 11:58 |
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