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Series 54 – Municipal Advisor Principal Exam

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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%.

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