Series 51 Municipal Fund Limited Principal Exam Prep Book & Data Bank of Exams
The Series 51 Municipal Fund Securities Limited Principal Exam 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 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.
|Test Topics||Approximate Test Questions|
|Municipal Fund Securities||15|
|Underwriting and Disclosure Rules||15|
|Fair Practice Rules||15|
Exam Study Book
The Series 51 exam consists of 60 questions to be completed in 90 minutes. The PassPerfect Series 51 course is divided into the following chapters:
Online Databank of Final Exams
Designed to complement our study book, the Series 51 DATABANK of Practice Exams is a convenient and effective method of testing your overall comprehension of the material. Using the DATABANK prepares your for the actual test by presenting practice questions of similar complexity to that of the real exam.