Series 51

AAA

DEFINITION of 'Series 51'

An exam offered by the Financial Industry Regulatory Authority (FINRA) and overseen by the Municipal Securities Rulemaking Board (MSRB). The Series 51 is a limited principal exam for managers of broker/dealers who have already earned the Series 24 or Series 26 license. The exam covers the management of registered representatives who market municipal fund securities to clients, specifically Section 529 plans for college education.

The test consists of 60 questions; a score of 70% or better is required for passing.

INVESTOPEDIA EXPLAINS 'Series 51'

Even though many 529 plans contain equity-based fund options, they are still regulated under the arm of the MSRB. The Series 51 was established for principals who do not otherwise deal in municipal securities, and do not have the Series 53 designation. Exam topics will test the taker's knowledge of underwriting, sales office supervision, market terminology and fair practice rules.

RELATED TERMS
  1. Registered Representative - RR

    A person who works for a brokerage company that is licensed by ...
  2. Series 26

    A securities license entitling the holder to register as a limited ...
  3. 529 Plan

    A plan that allows for the prepayment of qualified higher education ...
  4. National Association Of Securities ...

    The NASD was a self-regulatory organization of the securities ...
  5. Endowment Effect

    The endowment effect describes a circumstance in which an individual ...
  6. Self-enhancement

    The self-enhancing bias is the tendency for individuals take ...
Related Articles
  1. Insurance

    Investing In Your Child's Education

    Overwhelmed by increasing tuition costs for your kids? The U.S. government can help.
  2. Savings

    Choosing The Right 529 Education Savings Plan

    Before you fund one of these education-savings vehicles, be sure you know their differences.
  3. Taxes

    Clearing Up Tax Confusion For College Savings Accounts

    Put your kids through school without being hounded by the tax man.
  4. Budgeting

    Pay For College Without Selling A Kidney

    Save thousands of dollars on tuition with these tricks and little-known programs.
  5. Savings

    529 Plan Tutorial

    This comprehensive guide goes through what a 529 plan is and how to set one up, contribute to it and withdraw from it.
  6. Trading Strategies

    Top Day Trading Instruments

    Day trading is an intense and often appealing activity. Investopedia provides the list of top financial instruments for day trading.
  7. Options & Futures

    The Perks of Trading Coffee Options

    As more people begin to trade coffee, we explain how coffee options work, who uses them, what drives valuations, and the risks and rewards.
  8. Savings

    What Will It Cost To Study Abroad in Florence?

    The career payoffs for study abroad can be huge, but can you afford it? Here's a rundown of what you'll need to budget for a semester in Florence.
  9. Options & Futures

    Give Yourself More Options With Real Estate Options

    Real estate options have many benefits, including a smaller initial capital requirement.
  10. Personal Finance

    MBA Vs. Executive MBA: Which Is For You?

    What's the difference between these degrees in cost and in value? Here's help in making your choice.

You May Also Like

Hot Definitions
  1. Efficiency Ratio

    Ratios that are typically used to analyze how well a company uses its assets and liabilities internally. Efficiency Ratios ...
  2. Fixed Cost

    A cost that does not change with an increase or decrease in the amount of goods or services produced. Fixed costs are expenses ...
  3. Subsidy

    A benefit given by the government to groups or individuals usually in the form of a cash payment or tax reduction. The subsidy ...
  4. Sunk Cost

    A cost that has already been incurred and thus cannot be recovered. A sunk cost differs from other, future costs that a business ...
  5. Technical Skills

    1. The knowledge and abilities needed to accomplish mathematical, engineering, scientific or computer-related duties, as ...
  6. Prepaid Expense

    A type of asset that arises on a balance sheet as a result of business making payments for goods and services to be received ...
Trading Center