"I wanted to let you know that I took the Series 53 today and did not use any other study material from other companies. I got a 73% on the exam which is passing. As far as feedback for you, your material covered basically everything on the exam. It was definitely a tough test and a lot of the answers were similar in nature. Thanks again for the assistance." –Troy, Series 53

Troy is a real student, who passed his exam the first time after completing our innovative online program.  He is not the only one.  If you want to join him, and thousands like him, click "Register Now" above to begin your journey to becoming a licensed Series 53 representative.

We have two study options outlined below that will give you everything you need to ace your Series 53 exam.  Our students speak volumes for the effectiveness of our programs.  Click the  "Testimonials" link above to look through over 7,500 positive reviews of our programs.

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Option 1 - Online HD Series 53 Video Lecture Course

This is it!  This is the course everyone in the industry has been talking about.  Our online Series 53 course is the truest replication of a live class you will find anywhere.  We offer the only course in the industry that can be used online or offline.  We allow our students to download our study manual and video lecture sessions to view offline.  The course includes real video lecture taught by an instructor using an actual board.  You won't find any powerpoint presentations here, or actors reading scripts only real teachers who actually teach.  Did we mention you will also have access to the audio from the video lecture sessions in streaming and downloadable format?  Oh, there are also thousands of interactive online exams included in the course as well, not to mention real human technical support should you need it, in addition to content support provided by seasoned industry experts.

You get it ALL, which includes:

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Click here for the vitals on the Series 53 Exam

  • Exam Administration:

    The exam is multiple choice and given on a computer

  • Number of Questions:

    100 questions / 180 minute time limit.

  • Passing Score Required:


  • Pre-requisites:

    You have to hold a Series 52 or Series 7 (if passed prior to 11/17/11) license to take the exam

  • Exam fee:


  • Exam locations:

    You can schedule your exam with either Prometric (www.prometric.com) or Pearson VUE (www.pearsonvue.com)

  • Exam dates:

    Computerized exams are given at Prometric and Pearson Vue Testing Centers Monday – Friday and select locations on Saturday and Sunday

Common Series 53 Exam Candidate Frequently Asked Questions:

Who Takes the Series 53 Exam?

 The Series 53 exam is the licensing test that one must pass in order to manage sales activities for municipal securities. In order to take the exam, one must first obtain "sponsorship"/employment from a FINRA or exchange member firm. In addition, one must submit a set of fingerprints and undergo a basic background check.  To register with a firm and schedule the exam you have to complete a Form U4 application.  On this application you must disclose such things as prior residential history, work history, criminal background (if any), etc.




Is the Series 53 exam different state to state?

No, the Series 53 exam is a federal exam and is the same in every state.



Do I need any other securities licenses to hold a Series 53 license?

You have to hold a Series 52 or Series 7 (if passed prior to 11/17/11) license to take the exam

What content does the Series 53 exam cover?

The Series 53 examination is designed to test a candidate's knowledge of the rules and statutory provisions applicable to a municipal securities broker or dealer and to the supervision of the activities of municipal securities representatives.  This exam also enables the principal to supervise municipal fund securities activities (i.e., selling 529 College Savings Plan or Local Government Investment Pools (LGIPs)).

Do I need a sponsor to take the Series 53?

Yes, you will need to be sponsored by your employing broker/dealer to take this exam. If you do not have a sponsor you will be unable to take this exam. Generally, sponsorship relates to employment with a broker/dealer firm. We can not sponsor you to take this exam. We also cannot refer you to any specific firm as we provide training for many of the nations largest securities firms.

How do I schedule my Series 53 exam?

Usually your sponsoring broker/dealer firm will help you fill out and submit the necessary paperwork and fees to FINRA to open your window to take the Series 53 exam.

What should I bring to the test center the day of my Series 53 exam?

You should bring your Key Facts from our Series 53 exam prep course to re-read just prior to going in to take your Series 53 exam. This will load your memory for the test. You cannot take anything into the test room with you other than what the proctor provides you. You will be able to leave your personal belongings in a locker in the testing center waiting room. They will provide you with a pen/pencil, scratch paper, and a basic function calculator at the test site. Make sure to write down your cheat sheet on your scratch paper when you sit down at your cubicle prior to starting your Series 53 exam. This will allow you to refer back to it whenever you need to during the exam.

If I don't pass is there any waiting period that applies before I can retake the Series 53 exam?

If you study correctly you will pass this exam. However, if for some reason you do fail on your first attempt at the Series 53 exam, your sponsor can submit an amendment to reopen a window in which you can take the exam again. This window will not open until 30 days since your last exam attempt has transpired. At this point, your window will be open for 90 days.

There is no requirement for a sponsor firm to terminate your employment should you fail. However, every time you rewrite the exam, you must pay the required registration fee. So your employer may require you to reimburse the fees paid to re-schedule the exam.

After three failed attempts, you must wait six months before you can re-take the exam for the fourth time. The six-month requirement is intended to provide a window in which an individual can ensure he or she is prepared for the fourth exam attempt. This process will then continue indefinitely, as there is no limit as to the number of times you can attempt the Series 53 exam.

What do the questions on the Series 53 exam look like?

Here are two Series 53 exam questions that come from our materials that are very similar to the formatting and content of the questions on the exam:

1. All are true about the gift rule, MSRB Rule G-20, except:

A. The gift rule applies to compensation received during a person's course of employment as an association person of a municipal securities dealer

B. An occasional gift of tickets to a theatrical event is allowed

C. The rule does not apply to advertising, so long as it is not given out too frequently

D. A gift of $100 per person per year is allowed


2. Which of the following must be disclosed to the customer who purchases a bond that is a negotiated offering?

I. Spread

II. Additional Takedown

III. Concession

IV. Manager's fee

A. I and II

B. I only

C. I, II and III

D. II, III and IV


Answers and explanations to the previous questions as found in our comprehensive Series 53 exam prep online and print materials are as follows:

1. Answer - A Explanation:

MSRB Rule G-20 prohibits gifts in excess of $100 per person per year. This rule however, does not apply to the compensation received by an employee of a broker/dealer or municipal securities dealer received in relation to municipal securities activities performed. This rule shall not apply to contracts of employment with or to compensation for services rendered by another person. Also, the occasional gifts of meals or tickets to theatrical, sporting, and other entertainments hosted by the broker, dealer or municipal securities dealer, as well as gifts of reminder advertising, are allowed so long as such gifts are not be so frequent as to raise any question of propriety.

2. Answer - B Explanation:

MSRB rules require that the spread be disclosed in a total amount or on a per bond basis, but the actual components of the spread (management fee, underwriting fee, additional takedown and concession) do not have to be individually disclosed. 



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