SERIES 53 EXAM 2025 QUESTIONS
AND ANSWERS
3 business days
4 business days
if protested, the dealers must promptly settle differences - ANSWER✔✔-A dealer receives transfer
instructions from another dealer, the dealer must validate or protest instructions within X business
days
once the dealer has validated the instructions, the account transfer must happen within X business
days
fin lop - ANSWER✔✔-currency transaction reports must be reported to ?
30 days following the date all securities have been delivered by the issuer to the syndicate
FOR STUDY PURPOSES ONLY COPYRIGHT © 2025 ALL RIGHTS RESERVED 1
,this date is when the bonds are delivered to the uw by the issuer - ANSWER✔✔-syndicate
settlement date is defined as and when is it ?
in charge of a business unit that does not include a MFP. Someone who exclusively sells munis is
not defined as a MFP - ANSWER✔✔-2 examples of a non-MFP
all registered personnel. everyone. - ANSWER✔✔-who must attend compliance meetings
general comparisons between tax exempt and taxable - estimates about future retirement needs,
assessment of their profile, historic differences, effects of inflation. comparing a bond subject to
AMT to a bond not is recommendation? Q 28 on federal rule* - ANSWER✔✔-what is not
considered investment strategy to the MSRB (you can make this without it being "advice")
must be reported to RTTM - ANSWER✔✔-match data
two entities pay int principal and interest - go and rev - ANSWER✔✔-double barreled bonds
limited principal doesn't exist - underneath is sales limited and muni fund limited - ANSWER✔✔-
municipal securities principal vs municipal securities limited principal
The dealer, on a quarterly basis.
This form discloses any political contributions made - ANSWER✔✔-who is required to file G37
with the MSRB
FOR STUDY PURPOSES ONLY COPYRIGHT © 2025 ALL RIGHTS RESERVED 2
,do the transaction, no extra reporting or anything - ANSWER✔✔-if the broker dealer informs the
customer that a transaction is not suitable and the customer still wants to do it, what must the dealer
do?
hosting fundraising is the worst - ANSWER✔✔-MFP can solicit votes or hold fundraising events
you have to take the 7 bc bond funds are considered investment companies - ANSWER✔✔-if you
want to sell bond funds, do you just take the 53 or more
requires filed reports to keep records of cash transactiosn - ANSWER✔✔-Bank security Act
filed if a transaction involves at least 5k and the member has reason to think something weird is
happening - ANSWER✔✔-SAR - suspicious activity report
cash deposit of more than 10k in one single day triggers this,
JUST CASH - checks and credit checks wont trigger this
filed on FinCEN for 104 - ANSWER✔✔-CTR - Currency trasanction report
and who is it reported to
signature of the client
you DO need to report information about the customer used in making recommendations -
ANSWER✔✔-what information is NOT required when filing information on a RETAIL customer
(including high net wroth individual)
FOR STUDY PURPOSES ONLY COPYRIGHT © 2025 ALL RIGHTS RESERVED 3
, - business relationship (existing cutomer) - ANSWER✔✔-when can you cold call outside of regular
business hours
msrb does not and treasury dept - ANSWER✔✔-who does not enforce securities regulartionfrom
the MSRB
maturity - ANSWER✔✔-discount bond is priced to
managing underwriter - ANSWER✔✔-who is reposnibly for maintaining records of syndicate
transactions
its never allowed. you can volunteer if it is not directly related to campaign solicitations. -
ANSWER✔✔-msrb thoughts on fundraising
one per each election like primary and then for general - ANSWER✔✔-when giving money to
candidates, can you to how many of their elections
if dicount or premium that a portion of the yield to maturity is taxable if the bond is held to maturity
making the after tax return between 10-12 (bc it was bought at discount) - ANSWER✔✔-
advertising on a tax exempt bond that says what it is priced to should also detail
INFORMATION (not trasactions) of ARS and VRDOs from by 630pm day of information of
transaction. information tho.
secondary transactions - ANSWER✔✔-SHORT is used for
FOR STUDY PURPOSES ONLY COPYRIGHT © 2025 ALL RIGHTS RESERVED 4
AND ANSWERS
3 business days
4 business days
if protested, the dealers must promptly settle differences - ANSWER✔✔-A dealer receives transfer
instructions from another dealer, the dealer must validate or protest instructions within X business
days
once the dealer has validated the instructions, the account transfer must happen within X business
days
fin lop - ANSWER✔✔-currency transaction reports must be reported to ?
30 days following the date all securities have been delivered by the issuer to the syndicate
FOR STUDY PURPOSES ONLY COPYRIGHT © 2025 ALL RIGHTS RESERVED 1
,this date is when the bonds are delivered to the uw by the issuer - ANSWER✔✔-syndicate
settlement date is defined as and when is it ?
in charge of a business unit that does not include a MFP. Someone who exclusively sells munis is
not defined as a MFP - ANSWER✔✔-2 examples of a non-MFP
all registered personnel. everyone. - ANSWER✔✔-who must attend compliance meetings
general comparisons between tax exempt and taxable - estimates about future retirement needs,
assessment of their profile, historic differences, effects of inflation. comparing a bond subject to
AMT to a bond not is recommendation? Q 28 on federal rule* - ANSWER✔✔-what is not
considered investment strategy to the MSRB (you can make this without it being "advice")
must be reported to RTTM - ANSWER✔✔-match data
two entities pay int principal and interest - go and rev - ANSWER✔✔-double barreled bonds
limited principal doesn't exist - underneath is sales limited and muni fund limited - ANSWER✔✔-
municipal securities principal vs municipal securities limited principal
The dealer, on a quarterly basis.
This form discloses any political contributions made - ANSWER✔✔-who is required to file G37
with the MSRB
FOR STUDY PURPOSES ONLY COPYRIGHT © 2025 ALL RIGHTS RESERVED 2
,do the transaction, no extra reporting or anything - ANSWER✔✔-if the broker dealer informs the
customer that a transaction is not suitable and the customer still wants to do it, what must the dealer
do?
hosting fundraising is the worst - ANSWER✔✔-MFP can solicit votes or hold fundraising events
you have to take the 7 bc bond funds are considered investment companies - ANSWER✔✔-if you
want to sell bond funds, do you just take the 53 or more
requires filed reports to keep records of cash transactiosn - ANSWER✔✔-Bank security Act
filed if a transaction involves at least 5k and the member has reason to think something weird is
happening - ANSWER✔✔-SAR - suspicious activity report
cash deposit of more than 10k in one single day triggers this,
JUST CASH - checks and credit checks wont trigger this
filed on FinCEN for 104 - ANSWER✔✔-CTR - Currency trasanction report
and who is it reported to
signature of the client
you DO need to report information about the customer used in making recommendations -
ANSWER✔✔-what information is NOT required when filing information on a RETAIL customer
(including high net wroth individual)
FOR STUDY PURPOSES ONLY COPYRIGHT © 2025 ALL RIGHTS RESERVED 3
, - business relationship (existing cutomer) - ANSWER✔✔-when can you cold call outside of regular
business hours
msrb does not and treasury dept - ANSWER✔✔-who does not enforce securities regulartionfrom
the MSRB
maturity - ANSWER✔✔-discount bond is priced to
managing underwriter - ANSWER✔✔-who is reposnibly for maintaining records of syndicate
transactions
its never allowed. you can volunteer if it is not directly related to campaign solicitations. -
ANSWER✔✔-msrb thoughts on fundraising
one per each election like primary and then for general - ANSWER✔✔-when giving money to
candidates, can you to how many of their elections
if dicount or premium that a portion of the yield to maturity is taxable if the bond is held to maturity
making the after tax return between 10-12 (bc it was bought at discount) - ANSWER✔✔-
advertising on a tax exempt bond that says what it is priced to should also detail
INFORMATION (not trasactions) of ARS and VRDOs from by 630pm day of information of
transaction. information tho.
secondary transactions - ANSWER✔✔-SHORT is used for
FOR STUDY PURPOSES ONLY COPYRIGHT © 2025 ALL RIGHTS RESERVED 4
