The FINRA Series 53 MSRB Municipal Securities Principal Qualification Exam requires a high standard of knowledge and competency. "The Solomon Exam Prep Guide to the Series 53" will help you tackle the Series 53 exam by focusing on the most important and difficult concepts of the exam. "The Solomon Exam Prep Guide to the Series 53" includes practice questions and answers after each chapter, information about the exam, and helpful study tips.
The exam study guide is available as an online digital manual via your online student dashboard (requires Internet connection/not downloadable) or as a hard copy textbook (shipping & handling will apply).
Please note: the digital guide and hard copy guide contain the same content, however, this image is a PDF of the hard copy guide and the digital guide does not look exactly the same as this PDF of the hard copy. If you want this exact look, you must purchase the hard copy upgrade.
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:
*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:
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).
How many questions are on the exam?
How long is the exam?
What subjects does the Series 53 exam test?
The Series 53 is divided into six areas:
Federal Regulations 4%
General Supervision 21%
Sales Supervision 29%
Origination and Syndication 22%
Are there other FINRA exams I need to complete as a prerequisite to attempting the Series 53?
Yes, the Series 52. However, if you had taken and passed the Series 7 prior to November 7, 2011 you would qualify.
How much does the exam cost?
The cost of the exam is $265 at this writing.
If I stop working for my firm, how long will my Series 53 license remain active?
You will have two years between jobs before the license expires.
When you cease working for a firm, your employer will file a Form U5 to terminate your registration. Your next employer will file a Form U4, which will re-register you. As long as you do not exceed two years between employers, your Series 53 license will remain active.
Orders are processed Monday-Friday from 7:00 a.m.-4:00 p.m. Pacific Time. Same-day shipping is not guaranteed on orders placed after 12:00 p.m. Pacific Time or any order placed on Saturdays, Sundays or holidays. Orders placed during these times will be shipped the next business day.
Should you wish to return part or all of your purchase the following return policy will apply:
Merchandise is nonreturnable and nonrefundable once it has been received. The definition of received is as follows :
Shipping and Handling is nonrefundable under any circumstances. Solomon Exam Prep is not responsible for any Shipping and Handling costs required to return any merchandise.
All shipped products must be returned in original condition.
All returns will be subject to a $10 processing fee.
Once a purchase is complete all return requests must be received within the following time line:
If returned merchandise meets all of the above requirements, a credit will be added to the credit card used at the time of purchase. The refunded amount will be the amount paid for the product at the time of purchase less the $10 processing fee and will not include any shipping and handling fees.
If returned merchandise does not meet all of the above requirements, no refunds will be awarded.
All products purchased from Solomon Exam Prep either online or by phone are subject to this return policy. If you have any questions about this policy please contact us by phone at 503-601-0212 or email at firstname.lastname@example.org.
Extensions past the 180 day access period are granted for Online Exam Simulators only. The following extensions are available upon request:
Solomon Exam Prep study materials are legally protected under the copyright laws of the United States and other countries.
Unauthorized use or reproduction of Solomon Exam Prep materials copyrighted by Solomon Exam Prep is prohibited.
The Solomon Exam Prep materials you have purchased are to be used for your personal use. Unauthorized resale of Solomon Exam Prep materials is prohibited.
Shared use of online exam study guides, online classes, online exam simulators, streamed or downloaded audiobooks (Products & Services) is prohibited. Solomon Exam Prep will only support registered purchases of Products & Services directly from Solomon Exam Prep or from an authorized distributor. Solomon Exam Prep’s Products & Services are intended for personal use only unless specifically approved in writing by Solomon Exam Prep.
Products & Services are provided by Solomon Exam Prep, subject to your acceptance and compliance with the Terms & Conditions set forth below. Sharing or selling access to Products & Service is prohibited. All online access of Products & Services is non-transferable.
By accessing or using Products & Services, you agree to be bound by the Terms & Conditions set forth below. Solomon Exam Prep may modify these Terms & Conditions at any time and such modifications shall be effective immediately upon posting of the modified Terms & Conditions to SolomonExamPrep.com. Your continued access or use of Products & Services shall be deemed your conclusive acceptance of modified Terms & Conditions.
1. Copyright and Licenses. The entire contents of www.solomonexamprep.com Solomon Exam Prep and its Products & Services are copyrighted under the copyright laws of the United States. Products & Services are solely for non-commercial use. Copying, redistribution, retransmission or publication of any downloaded, recorded or online material, is prohibited without the written permission of Solomon Exam Prep. You agree not to change or delete any proprietary notices from materials downloaded from Solomon Exam Prep. You agree that you shall have no recourse against Solomon Exam Prep for any alleged or actual infringement or misappropriation of any proprietary right in your communications to us.
2. Use of Products & Services via www.solomonexamprep.com. You understand that Solomon Exam Prep does not warrant that Products & Services will be uninterrupted or error-free. Products & Services are provided on an as is, “as available" basis. You are responsible for your own system and agree to meet the minimum system requirements set forth by Solomon Exam Prep.
You understand that Solomon Exam Prep may revise the content of its website and Products & Services from time to time to meet business objectives. Solomon Exam Prep may add or remove materials that it considers as unnecessary or no longer relevant for its training objectives. Once content is removed, it will not be accessible and will not be available upon request.
You understand that Products & Services are intended to assist you in your study program. You accept this arrangement and understand that Products & Services will be updated and released in a manner consistent with the priorities and objectives of Solomon Exam Prep.
You understand that your purchase of Solomon Exam Prep Products & Services offers a limited license to use the content only between the time access is granted for your product and the date you pass your exam or 180 days, whichever comes first. The Products & Services are non-transferable and are to be used only by you. You agree not to share proprietary, online usernames and password with anyone, even if someone has his or her own Products & Services. Such sharing of access, usernames and passwords is a violation of this Terms & Conditions and will result in immediate suspension of your privileges to any Products & Services at www.solomonexamprep.com without refund. Solomon Exam Prep monitors its website and including the use of Products & Services, and enforces its one subscriber policy diligently.
Solomon Exam Prep may offer customized information about your study performance utilizing the Products & Services. This information may be offered to assist you in your preparation for an exam and is not intended to be an estimate or prediction of your actual exam score. Custom feedback from Solomon is intended only as a diagnostic tool of your knowledge as you prepare for the exam, and your practice scores may be affected by factors beyond Solomon Exam Prep’s control.
In no event will Solomon Exam Prep be liable for (I) any incidental, consequential, or indirect damages (including, but not limited to, damages for loss of profits, business interruption, loss of programs or information, and the like) arising out of the use of or inability to use Products & Services provided by Solomon Exam Prep, or any information, or transactions provided on www.solomonexamprep.com or downloaded or hyperlinked from www.solomonexamprep.com even if Solomon Exam Prep or its authorized representatives have been advised of the possibility of such damages; or (II) any claim attributable to errors, omissions, or other inaccuracies in Solomon Exam Prep's electronic content, Products & Services or information downloaded through, or hyperlinked from, www.solomonexamprep.com. Because some states do not allow the exclusion or limitation of liability for consequential or incidental damages, the above limitation may not apply to you. In such states, Solomon Exam Prep’s liability is limited to the greatest extent permitted by law.
3. Indemnification. You agree to indemnify, defend, and hold harmless Solomon Exam Prep; Firstbooks.com, Inc. and their respective subsidiaries, officers, directors, employees, authors, agents, licensors, suppliers, and any third party information providers to Solomon Exam Prep’s Products & Services from and against all losses, expenses, damages, and costs, including attorneys' fees, resulting from any violation of these Terms & Conditions by you.
4. Miscellaneous. This Terms & Conditions shall be governed and construed in accordance with the laws of the State of Oregon applicable to Terms & Conditions made and to be performed in Oregon. You agree that any legal action or proceeding between Solomon Exam Prep and you for any purpose concerning this Terms & Conditions or the parties' obligations hereunder shall be brought exclusively in a federal or state court of competent jurisdiction sitting in Oregon. Any cause of action or claim you may have with respect to Solomon Exam Prep’s Products & Services must be commenced within six months (6 months) after the claim or cause of action arises or such claim or cause of action is barred. Solomon Exam Prep’s failure to insist upon or enforce strict performance of any provision of this Terms & Conditions shall not be construed as a waiver of any provision or right. Neither the course of conduct between the parties nor trade practice shall act to modify any provision of this Terms & Conditions. Solomon Exam Prep may assign its rights and duties under this Terms & Conditions to any party at any time without notice to you.
Terms & Conditions are subject to change without notice, please review periodically.
"Solomon Exam Prep" and its products are trademarks of Solomon Exam Prep® and are owned by the Solomon Exam Prep® division of Firstbooks, Inc.®
I passed the Series 6 (on my first attempt) with help from Solomon Exam Prep. The audio study book and online exams were the most beneficial tools for me, and would highly recommend Solomon to all of my Allstate colleagues.
I passed the Series 65 this afternoon! Your online test simulation was terrific. Thanks so much!