What Is Assortment 52?
The Assortment 52 is a licensed license and certification that qualifies a financial professional to transact municipal securities. It is known as the Municipal Securities Advisor Qualification Examination.
The exam consists of 75 scored questions. Candidates are given two hours and 30 minutes to complete the exam. The passing score is 70%.
Key Takeaways
- The Assortment 52 is a licensing exam required to transact in municipal securities harking back to muni bonds.
- The exam is known as the Municipal Securities Advisor Qualification Examination (MR), and was once as soon as complicated by way of the Municipal Securities Rulemaking Board (MSRB) and administered by way of FINRA.
- The 150-minute, 75 a few variety question exam covers topics ranging from municipal bond basics to monetary and macroeconomic protection.Â
Assortment 52 Outlined
The Assortment 52 exam is complicated and introduced by way of the Municipal Securities Rulemaking Board (MSRB). The Assortment 52 qualifies a financial professional to change into a certified municipal securities marketing consultant. People who obtain this certification can advertise municipal securities harking back to municipal bonds. They may be able to moreover perform underwriting analysis for municipal securities. The Assortment 52 certification is widely carried out across the financial industry and is endorsed by way of the Financial Business Regulatory Authority (FINRA).
Municipal Securities Rulemaking Board
The Municipal Securities Rulemaking Board is an corporate that devices necessities for the municipal securities industry. It manages the professional {{qualifications}} for municipal securities principals, representatives, information principals, and information representatives. {{Qualifications}} for municipal securities pros are outlined in MSRB Rule G-3. In conjunction with the Assortment 52 exam, MSRB moreover manages the following exams:
- Assortment 50 — Municipal Advertising marketing consultant Advisor Examination
- Assortment 51 — Municipal Fund Securities Limited Major Qualification Examination
- Assortment 53 — Municipal Securities Major Qualification Examination
Assortment 52 Exam
The Assortment 52 exam consists of 75 a few variety questions. It will have to be completed within 210 minutes. A score of 70% or upper is wanted for passing. The cost of the check out is $260.
The following subject material is covered on the exam:
Segment 1: Municipal Securities
- Sorts of municipal securities
- Characteristics of municipal securities
- The market for municipal securities
- Inspecting municipal credit score rating
- Mathematical calculations and methods
Segment 2: U.S. Government, Federal Corporate and Other Financial Equipment
- Types
- Characteristics of rather numerous U.S. govt, federal corporate and other financial equipment
- The market for U.S. govt, federal corporate and other financial equipment — affect and relationship to other fixed income markets
- Credit score rating choices
Segment 3: Monetary Process, Government Protection and the Conduct of Hobby Fees
Segment 4: Securities Laws and Regulations
- Regulation of municipal market pros
- Securities Investor Protection Act of 1970
- MSRB rules
Additional Knowledge
- Contents of a regular notice of bond sale
- Outline of a regular skilled statement
Municipal Securities Representatives
Municipal securities representatives that have passed the Assortment 52 exam and acquired their Municipal Securities Advisor Certification can transact or underwrite municipal securities for a sponsoring crew. A municipal securities marketing consultant will have to artwork for a sponsoring company. As a municipal securities marketing consultant, pros can transact and underwrite municipal securities, provide professional financial advice or consultation in regard to municipals issuance, and generally provide verbal trade to pubic patrons on municipal securities.
