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For updates and guidance related to COVID-19 / Coronavirus, click here.

Series 51 – Municipal Fund Securities Limited Principal Exam

The Series 51 exam—the Municipal Fund Securities Limited Principal Qualification Examination (FP)—is a Municipal Securities Rulemaking Board (MSRB) exam.

The exam consists of 60 scored questions. Candidates are given one hour and 30 minutes to complete the exam. The passing score is 70 percent.

For additional information on this exam, including the content outline, please visit MSRB Professional Qualification.

COVID-19 Guidance on FINRA-Administered Exams

FINRA and Prometric take the health and well-being of our community as a top priority. In response to the recent guidance from the US Centers for Disease Control and Prevention (CDC) related to the growing concerns about the Coronavirus (COVID-19), Prometric is closing its testing centers in the United States and Canada for a period of 30 days, starting March 18, 2020. Candidates who have an existing appointment will receive an email from Prometric with instructions on how to reschedule their appointment to a future date; rescheduling fees will not be applied. To change an existing appointment scheduled over 30 days (April 16 or later) or to schedule a new appointment, please access the Prometric website.

Additionally, FINRA is aware of the challenges that COVID-19 is presenting for our candidates who want to take exams. FINRA will extend all enrollment windows that are currently open and scheduled to expire by the end of May. Each FINRA-administered exam enrollment end date will be extended through the same end date of May 31, 2020. 

Please visit FINRA’s COVID-19 / Coronavirus page for complete updates and guidance.