FINRA Series 53 Exam Details
The Series 53 exam consists of 100 multiple-choice questions. Candidates are given 3 hours to complete the exam and must achieve a 70% to pass. The cost of the exam is $265.
Series 53 Exam Prep Training & Study Materials
FINRA Series 53 Exam Prep
ExamFX has created a comprehensive online training program to ensure candidates are prepared to pass their qualification exam on the first attempt.
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Series 53 Training Package Information
We offer a flexible solution and package designed to help candidates pass their Series 53 exam. Our training provides a variety of helpful study tools that prepares candidates for success.
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What is the Series 53 registration?
The Series 53 (The Municipal Securities Principal) is a Municipal Securities Rulemaking Board (MSRB) qualification exam taken by those in the Financial Services industry who will be managing or supervising the municipal securities business activities. In order to obtain a Series 53 registration, candidates must prepare and pass the Series 53 exam. This exam is administered by the Financial Industry Regulatory Authority (FINRA).
VIEW MSRB SERIES 53 EXAM CONTENT OUTLINE
About the Series 53 Exam
What are the topics covered on the Series 53 Exam?
The Series 53 exam is designed to determine whether an individual meets the MSRB's qualification standards for municipal securities principal. The exam consists of 100 scored questions and is broken down into the following sections:
- Federal Regulations (4%)
- General Supervision (23%)
- Sales Supervision (25%)
- Origination and Syndication (23%)
- Trading (10%)
- Operations (15%)
See below for more detailed breakdown or visit MSRB.
Federal Regulations
- Securities Exchange Act of 1934
- Rules of the Securities and Exchange Commission
- Securities Investor Protection Corporation (SIPC)
General Supervision
- Definitional Rules
- Qualification and Registration
- Supervisory Responsibilities
- Conduct of Business - Fair Practice
Sales Supervision
- Opening Customer Accounts
- Communication with Customers
- Suitability
- Supervisory Concerns
- Discretionary Accounts
- Customer Complaints
- Recently Enacted Rules Governing Sales Supervision
Origination and Syndication
- Activities of Financial Advisors
- Purpose of Financial Advisory Rule, MSRB Rule G-23(a), (f)
- Financial Advisory Relationship, MSRB Rule G-23(b)
- Agreement with Respect to Financial Advisory Relationship, MSRB Rule G-23(c)
- Prohibition on Engaging in Underwriting Activities, MSRB Rule G-23(d)
- Remarketing Activities, MSRB Rule G-23(e)
- Preparation of Official Statement by Financial Advisors MSRB Rule G-32(c)
- New Issue Syndicate Practices
- Purpose of Financial Advisory Rule, MSRB rULE g-23(a), (f)
- Financial Advisory Relationship, MSRB Rule G-23(b)
- Agreement with Respect to Financial Advisory Relationship, MSRB Rule G-23(c)
- Prohibition on Engaging in Underwriting Activities, MSRB Rule G-23(d)
- Remarketing Activities, MSRB Rule G-23(e)
- Preparation of Official Statement by Financial Advisors MSRB Rule G-32(c)
Trading
- Quotations
- Execution of Transactions
- Reports of Sales or Purchases
- Secondary Market Securities, MSRB Rule G-34(b)
- Books and Records to be Made by Dealers and Municipal Advisors
Operations
- Confirmation, Clearance, and Settlement Requirements
- Books and Records
- Customer Account Transfers MSRB Rule G-26
- Calculations (General Knowledge), MSRB Rule G-33
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ExamFX is so confident in our training program that we guarantee users who successfully complete the Guarantee Exam will pass their licensing exam on their first attempt! If you do not pass your licensing exam within three days after scoring 80% or higher on the Guarantee Exam, we will refund the cost of your course. It is that simple. Some restrictions may apply.