Series 53

DEFINITION of 'Series 53'

An exam offered by the Financial Industry Regulatory Authority (FINRA) and overseen by the Municipal Securities Rulemaking Board (MSRB). The Series 53 qualifies a financial professional to become a licensed municipal securities principal, which allows the supervision and management of sales of municipal securities, agency securities, and U.S. Treasury obligations by licensed broker/dealers.

The exam consists of 100 multiple choice questions taken over three hours; a score of 70% or better is required for passing. Question topics cover not only the basics of how municipal securities are created and traded, but settlement practices, record-keeping and sales supervision.

BREAKING DOWN 'Series 53'

The Series 53 is also required for those who wish to sell Section 529 plans for college funding, even though many 529 plans are invested into equity-based securities and funds. The sales of 529 plans are under the supervision of the MSRB. People who pass the Series 53 exam do not need to take and pass the Series 51 test, which is more limited in scope.

RELATED TERMS
  1. Series 52

    An exam offered by the Financial Industry Regulatory Authority ...
  2. Series 51

    An exam offered by the Financial Industry Regulatory Authority ...
  3. Municipal Securities Rulemaking ...

    A regulating body that creates rules and policies for investment ...
  4. Series 24

    A securities license entitling the holder to supervise and manage ...
  5. Series 26

    A securities license entitling the holder to register as a limited ...
  6. Series 4

    A securities license entitling the holder to supervise options ...
Related Articles
  1. Professionals

    MUNICIPAL BONDS

    The Municipal Securities Rule Making Board or the MSRB is the organization responsible for overseeing the municipal securities industry. The MSRB has no enforcement arm and its only function ...
  2. Professionals

    Municipal Securities

    Finra Series 7 Online Study Guide Section 5 Municipal Securities
  3. Professionals

    SUPERVISOR QUALIFICATIONS AND PREREQUISITES

    Supervisor Qualifications and Prerequisites People who supervise or train agents generally must register as a principal with FINRA and qualify by training or experience. Prior to taking a principal ...
  4. Professionals

    Municipal Security Advertising Standards

    Municipal Security Advertising Standards
  5. Professionals

    Understanding Series 63

    Series 63 is a securities license that entitles the holder to sell securities in a particular state.
  6. Professionals

    The Basics of Financial Securities Licenses

    The Financial Industry Regulatory Authority (FINRA) offers several licenses that correspond to specific businesses or investments.
  7. Professionals

    The Difference Between Series 63, 65 and 66

    After passing the first core examination, usually the FINRA Series 6 or Series 7, one hurdle remains. That’s the Series 63, 65 or 66.
  8. Professionals

    Securities Markets

    FINRA Series 6 Exam Study Guide: Section 1 - Securities Markets
  9. Term

    What is the Series 66?

    The Series 66 exam is one of two tests required to register as both a securities agent and an investment advisor.
  10. Professionals

    Investment Securities

    FINRA Series 6 Exam Study Guide: Section 2 - Investment Securities
RELATED FAQS
  1. What is the difference between Series 9/10 and Series 24 qualification exams?

    Both Series 9/10 and 24 are the exams that must be completed by a principal before he or she can supervise certain sales ... Read Answer >>
  2. What are the differences between the Series 6 exam and the Series 7 exam?

    Learn about the regulatory exams needed to become a limited or registered representative and the main differences between ... Read Answer >>
  3. Is a financial advisor required to have a degree?

    Discover the minimum educational requirements and financial licenses needed to become a financial advisor in the modern corporate ... Read Answer >>
  4. I have passed the Series 63 and FINRA Series 7, but would like to become licensed ...

    Becoming an investment adviser representative requires more examination than just taking the FINRA Series 63 exam. See what ... Read Answer >>
  5. If I have passed the Series 7 exam, do I need to write the 6 and 63 exams as well?

    Not always. According to the Financial Industry Regulatory Authority (FINRA), (formerly National Association of Securities ... Read Answer >>
  6. What certification series does one need to be a bond broker?

    One major requirement before one can become a bond broker is to pass the General Securities Representative Exam, commonly ... Read Answer >>
Hot Definitions
  1. Law Of Demand

    A microeconomic law that states that, all other factors being equal, as the price of a good or service increases, consumer ...
  2. Cost Of Debt

    The effective rate that a company pays on its current debt. This can be measured in either before- or after-tax returns; ...
  3. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  4. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  5. Keynesian Economics

    An economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed ...
  6. Society for Worldwide Interbank Financial Telecommunications ...

    A member-owned cooperative that provides safe and secure financial transactions for its members. Established in 1973, the ...
Trading Center