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Series 53 Test BreakdownFor most people who hope to rise to a managerial position supervising employees in the trading of municipal securities, the first milestone on their new career will be passing the FINRA Municipal Securities Principal Exam, commonly referred to as the Series 53 exam. In order to take the Series 53 exam, you'll first have to have passed the Series 7 exam for General Securities Representative, or the Municipal Securities Representative Series 52 exam. You can take the Series 53 exam at any Prometric testing center; they're located all over the country, and they offer the exam in most locations every day but Sunday. There is a fee of $80 to take the test. You'll be given three hours to complete the Series 53 exam which consists of 100 multiple choice questions. To get a passing score, you'll have to answer at least 70 of the questions correctly. The subject topics covered under the 100 questions will cover the wide range of knowledge you'll need to have in order to function as a managing principal over employees who trade municipal securities. You'll need to be familiar with the government agencies that regulate the municipal securities industry, and the specific laws which pertain to it. Of course, you'll also need to be well versed in the actual mechanics and terms of trading these securities, and you'll need a good grasp of the principles of origination and syndication of bonds and other debt securities. In addition, you'll be required to demonstrate your knowledge of managing operations and supervising trades and salespeople. As you can see, Series 53 is a broad based, in depth test. But thousands of people have passed it, and with study and preparation you can pass it, too. Click Here for
Series Test Breakdown
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