Series 52 Highlights
Number of Items: 75
Format: Multiple Choice
Duration: 2 hours 30 minutes
Passing Score: 70%
Corequisite: Securities Industry Essentials (SIE) Qualification Examination
Cost: $260
About the Series 52 Examination
The Municipal Securities Representative Qualification Examination (Series 52) is designed to measure a candidate’s qualification competency to engage in municipal securities business. The examination includes questions on municipal securities, the municipal market, economic activity, government policy, factors affecting interest rates, and applicable federal securities laws and regulations.
Eligibility
Individuals must be associated with a MSRB registered dealer to be eligible to take the Series 52 examination. For more information on qualification requirements, refer to MSRB Rule G-3.
Additionally, candidates must pass the Securities Industry Essentials (SIE) examination and the Series 52 examination to obtain the Municipal Securities Representative qualification. For more information about this requirement and the Series 52 examination, refer to MSRB Rule G-3 (a).
Permitted Activities
Pursuant to MSRB Rule G-3 (a)(i)(A), a municipal securities representative means a natural person associated with a dealer, other than a person whose functions are solely clerical or ministerial, whose activities include one or more of the following:
- Underwriting, trading or sales of municipal securities;
- Financial advisory or consultant services for issuers in connection with the issuance of municipal securities;
- Research or investment advice with respect to municipal securities; or
- Any other activities which involve communication, directly or indirectly, with public investors in municipal securities.
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