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Definition of Series 53 Exam

The Municipal Securities Principal exam, or the Series 53 exam, is designed and administered by FINRA. This exam is comprised of several individual topics and was created to measure a candidate’s knowledge in the areas of rules and statutory provisions applicable to a municipal securities broker or dealer and to the supervision of the activities of municipal securities representatives. The Series 53 also enables successful candidates to supervise municipal fund securities activities

Topics for the Series 53 exam include:

  • Sales Supervision
  • Customer Accounts
  • Trading
  • Uniform Practice Rules
  • New Issues and Other Rules

The Series 53 exam is a 100 question, multiple-choice test that must be completed within 3 hours. Cost for this exam is $165.00. Please note that this cost only represents the registration fee for the Series 53 exam. There will most likely be other fees involved with scheduling, scoring or study materials.

Applying "Series 53 Exam" to Securities Exams:

Candidates should be aware that there are prerequisites for the Series 53 exam. In order to be eligible for this exam, candidates must have successfully passed either the Series 52 exam or the Series 7 exam if it was passed prior to 11/7/11.

The Series 53 exam, like all FINRA exams, can be taken at any Pearson Vue testing center. Pearson Vue has testing centers in most large and medium sized cities throughout the country and is open six day a week, making it a nice choice for candidates. This exam is available year round.

Potential candidates for this exam should note that while the exam is available year round, it cannot be taken on Sundays. This fact should be kept in mind when you are scheduling your exam and choosing your testing locations.

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