Series 51 Exam Municipal Fund Securities Limited
Principal
The Series 51 test is a limited principal exam required by the MSRB for any person who manages representatives who handle Section 529 college savings plans. 529 Plans are deemed municipal securities and, therefore, are under the jurisdiction of the MSRB.
The Series 51 exam was developed for broker-dealers who do not deal in traditional municipal securities and thus do not have the
Series 53 licensed principal. These broker-dealers are FINRA (NASD) members that either have the
Series 24 or Series 26 licensed principals. These individuals can "tack on" a limited municipal principal license to supervise the sale of 529 plans by becoming Series 51 principals.
Candidates may also sit for the Series 53 exam.
Prerequisite Series 24 or
Series 26 $75 test fee (Form U-4) 2 hour time limit
Test Topics
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Approximate Test
Questions
|
|
Municipal Fund Securities |
15 |
|
Sales Supervision |
15 |
|
Underwriting and Disclosure Rules |
15 |
|
Fair Practice Rules |
15 |
|
|
Total 60
questions |
Series 51 Exam Study Text
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Study Text
$100.00
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The Series 51 exam 8 1/2" x 11" perfect-bound review program contains
150+ pages divided into the four key areas of the exam. Quizzes at the end of each section build your confidence. FIVE 60 point Final Exams will polish your likelihood of passing. All questions have complete explanations.
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