Info 1: series 52 exam definition
Info 2: The series 52 exam works
Info 3: series 52 and SIE exam
Info 4: example for series 52 exam
Quick pick:
Exams are the ones used to qualify any kind of individual as a representative for municipal securities.
Opening information:
Series 52 exam sentence breaks into three words series, 52, and exam. Series means parts of the one subject, 52 means number which used to represent something, and exam means test. Series 52 exam means qualifying a specific person regarding particular event parts.
So this article contains information about what is Series 52 exams in the public market, how the Series 52 exam works, what is the difference between the Series 52 exam and SIE, and finally rules of the Series 52 exams.
Info 1: series 52 exam definition
Whenever any individual wants to promote or sell the corporate industry stock of securities, they need to become a dealer or broker under the registered person of the security and exchange commission.
That person is only capable of selling that security as a dealer and broker when they pass a certain qualified exam like SIE, series 7 exam extra… Under the financial industry regulated authority (FINRA)
Like the equities, the people or firms who want to be involved in the securities offered by the local government of the municipality must pass the exam to be involved in local government debt or bond securities.
Were such municipality representative exams are named a series 52 exam in the public market because without a passing mark on this test, no one allowed to promote and sell the municipality securities offered by the local government.
When one does not follow the exams and laws created by the government they will face dangerous consequences under the government and ruler of such a market. So let’s dive into know the series 52 exam functions and works.
Info 2: The series 52 exam works
Series 52 exam doesn’t represent any of the things specific things or objects instead they are tests that are used to qualify the individual who wants to be involved and become the municipal securities representative.
However municipal securities are the local government bonds which used to raise capital for the local government by paying strong fixed interest payments for their holders.
But this exam is not for those who want to purchase or invest in municipal bonds, but for those who want to be representatives and members like other Securities representatives to act on public municipal Underwriting and trading.
Each individual who passes the exam must need to adherence to all the rules imposed by the regulator of their country’s government commonly such as the Securities and Exchange Commission. Where this exam is created and managed by the Municipal Securities Rulemaking Board exam (MSRB).
This exam would occupy 75 questions and the candidate must need to write the correct answer for at least 53 questions in the exam with a pass rate of 70 percent.
The exam taker would be allowed about 2 hours and 30 minutes to finish the test and no more extra minutes are allowed for any reason, all of the questions are multiple-choice.
Moreover, the Candidate who wants to take the series 52 exams would need to take and pass the security essential exam (SIE) before attending the series 52 exam, or else the candidate wouldn’t.
On the other hand, for people who want to be managers or supervisors in the dealer field of municipal securities, the Candidate must take a series 53 exam.
Most people are confused about the series 52 exam and the SIE exam, so let’s jump into the key differences anyway.
Info 3: series 52 and SIE exam
Series 52 is referred to as an advanced exam in the field of Securities exams who are required to become municipal representatives.
On the other side, securities essential exam SIE refer as the basic fundamentals test for any kind of Securities representative. The person who didn’t pass this SIE exam not only allowed to take series 52 but it wouldn’t be able to take lots of other securities exams too.
So the SIE is the first exam to acquire the score before the series 52. To make more sense of this let’s see into one brief example below.
Info 4: example for series 52 exam
Say your brother is one of the representatives for the municipal securities, he has been working on his job for almost more than 12 years.
Before he became the representative he had taken an exam imposed by the FINRA and at the same time he also took the basic initial exam for municipal security exam in the public market.
Here the basic exam before the municipal securities exam is called as securities essential exam or SIE, and the municipal representative test is series 52.