Series 50 Exam Overview — Format & Topic Weights

Series 50 at a glance

• Exam in app: Series 50 – Municipal Advisor Representative Qualification Examination
• Reference question count: 100
• Reference time: 180 minutes
• Approximate pace: ~108 seconds per question

Topic weighting map

• Part 1 - Understanding SEC and MSRB Rules Regarding Municipal Advisors — 12%
• Part 2 - Understanding Municipal Finance — 35%
• Part 3 - Performing Issuer’s Credit Analysis and Due Diligence — 12%
• Part 4 - Structuring, Pricing and Executing Municipal Debt Products — 31%
• Part 5 - Understanding Requirements Related to the Issuance of Municipal Debt — 10%

How to study this exam

1. Start with the highest-weighted area: Part 2 - Understanding Municipal Finance (35%).
2. Use the Syllabus to close gaps topic by topic.
3. Use timed sets in Practice to build pacing discipline.