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Series 54 – Municipal Advisor Principal Exam

COVID-19 Guidance on FINRA-Administered Exams

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Series 54—Municipal Advisor Principal Examination—is a Municipal Securities Rulemaking Board (MSRB) exam.

The exam consists of 100 scored questions and an additional 10 unscored pretest questions. Candidates are given three hours to complete the exam. The passing score is 70%.

The MSRB's Series 54 exam is only available online until November 30, 2021. Candidates should file the required request form for this interim accommodation and should schedule an exam appointment through Prometric at the candidate's earliest convenience.

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