Series 53 is an exam and license, which is also often called the Municipal Securities Principal Exam. Individuals who have this license are able to supervise the municipal securities activities of a securities firm or bank dealer. The license also qualifies those who have it to become licensed municipal securities principals. These individuals are able to underwrite, trade, buy, and sell municipal securities. Finally, those who pass the Series 53 Exam are also able to work as financial advisors or consultants to issuers of municipal securities and can communicate with customers about these topics in a professional setting.
If you're a financial professional who is interested in a job that deals with these things, passing the Series 53 Exam is essential. In order to do that, you'll have to answer at least 70% of the exam's 100 multiple-choice questions correctly. This must be done within a three hour and thirty-minute timeframe. If you can successfully do this, then you will receive your Series 53 license and can pursue employment in the fields it qualifies you for. If you're planning on taking the exam, you should be prepared to answer questions on a variety of topics. Some of the areas covered on the exam are federal regulations, general supervision, sales supervision, and trading and operations.