Series 53 — Municipal Securities Principal Qualification ExamORDER PRODUCTS REVIEWS FEATURES FAQS SAMPLES
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 view a sample 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). If you would like a physical book, a hard copy upgrade is available(shipping & handling will apply) that contains the same content as the online edition in your Solomon account.To view a sample click here. Please note: This is a pdf sample from the hard copy edition. If you want this look, you must purchase the hard copy upgrade.
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 1,100 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!
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How long should I prepare for this exam?
We recommend studying 60 hours over a four-week period.
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; and
- training of principals or representatives.
*This information came directly from the MSRB Rules and Interpretations: http://www.msrb.org/Rules-and-Interpretations/~/media/Files/Prof-Qualifications/Series53_outline2006.ashx
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.
What score do I need to pass the exam?
70% (Please Note: Your score will be rounded down to the lowest whole number (e.g. 69.9% would be a final score of 69%--not a passing score for the Series 53 Exam).
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