Series 50 Exam: Knopman Marks Announces Release Date for Series 50 Study Material

The MSRB will be offering a Series 50 Pilot Examination for Municipal Advisors who are currently engaged in the municipal advisory business. The pilot Series 50 Examination will be available for a 30–day period beginning on January 15, 2016 and ending on February 15, 2016.

Obtain the required Series 50 qualification during the pilot period. Here are three great reasons to test early:

1. A candidate who takes and passes the Series 50 Pilot Exam will be qualified as a municipal advisor representative and will not be required to take the permanent Series 50 Exam.
2. A failure of the Series 50 Pilot Exam will not count toward one of the three opportunities available for a candidate to pass the permanent exam before having to wait a period of six months for the fourth retake. Nor is the failure of the pilot reflected on CRD.
3. A candidate who fails the Series 50 Pilot Exam will be permitted one free retake once the permanent exam is available.

How can I prepare for the Series 50 Exam during the pilot period? After the pilot period?

Knopman Marks Financial Training is happy to announce that we will have study material and practice exams for the Series 50 Examination available on December 15, 2015. We look forward to helping our clients prepare for the new Series 50 Exam.

Registration for the Series 50 Pilot Exam

From September 21, 2015 though January 14, 2016 interested candidates for the Series 50 Pilot Examimation will need to submit a Form U10 to FINRA. Once the Form is processed by FINRA, parties may then schedule an examination session with either Pearson VUE or Prometric.

A candidate who takes the pilot Series 50 Examination will be notified by mail approximately three months after taking the exam as to whether they have passed or failed the examination. For candidates who do not pass the pilot exam, a record of this result will not appear on the candidate’s CRD record.

The creation of the Series 50 Exam

The passage of Dodd-Frank in 2010 paved the way for the creation of a new category of securities industry registration, Municipal Advisor Representative. In July of 2014, the SEC’s registration rule for municipal advisors became effective. Thereafter, the MSRB created a new registration category for municipal advisors and municipal advisor principals.

The features of the Series 50 Pilot Exam

The pilot Series 50 Examination will consist of 120 questions and candidates will have 4.5 hours to complete the exam.

Knopman Note

Participating in pilot examinations is an excellent way to achieve qualification. By testing early candidates are afforded a number of benefits, including gaining the qualification as soon as possible, the ability to re-take the exam without addition cost (if necessary), and that a failure on the pilot Series 50 Examination will not appear on a candidate’s CRD record.

Please contact us with any questions about the Series 50 and how we can work together to put you in the best position to pass the exam.