Series 51 – Municipal Fund Securities Limited Principal Exam
Effective October 1, 2024, the Series 51 exam will consist of 60 scored questions and five unscored pretest questions. The additional questions will be randomly distributed. An additional 15 minutes will be added to the current test time; candidates will be given one hour and 45 minutes to complete the exam. The passing score remains 70%.
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.
