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200+ Free Series 52 Practice Questions

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2026 Statistics

Key Facts: Series 52 Exam

75 scored

Official Scored Questions

FINRA

+5 pretest

Unscored Questions

MSRB/FINRA

70%

Passing Score

FINRA

2h 30m

Exam Duration

FINRA

$260

Exam Fee

MSRB

35%

Largest Section

Municipal Products and Analysis

The Series 52 contains 75 scored questions plus 5 unscored pretest items. Candidates have 2 hours 30 minutes and must score 70% to pass. The official blueprint weights municipal products and analysis at 35%, underwriting/pricing/trading at 25%, laws and regulations at 15%, and customer accounts and transactions at 25%. The SIE is required before qualifying as a municipal securities representative.

About the Series 52 Exam

The Series 52 qualifies municipal securities representatives to solicit, purchase, sell, and underwrite municipal securities, including municipal bonds and municipal fund securities. The exam focuses on product knowledge, underwriting and trading mechanics, MSRB rules, and customer-account responsibilities.

Assessment

75 scored + 5 unscored pretest questions

Time Limit

2 hours 30 minutes

Passing Score

70%

Exam Fee

$260 (FINRA / MSRB)

Series 52 Exam Content Outline

35%

Municipal Products and Analysis

General obligation and revenue bonds, municipal notes, municipal fund securities, credit factors, tax treatment, and issuer financing characteristics

25%

Underwriting, Pricing, and Trading

New issue flow, syndicates, official statements, yields and price relationships, quotations, markups, and secondary-market trading

15%

Laws and Regulations

MSRB fair-dealing, suitability, disclosure, political-contribution, reporting, recordkeeping, and related regulatory requirements for representatives

25%

Customer Accounts and Transactions

Customer profiling, suitability, account opening, discretionary authority, confirmations, settlement, and transaction processing

How to Pass the Series 52 Exam

What You Need to Know

  • Passing score: 70%
  • Assessment: 75 scored + 5 unscored pretest questions
  • Time limit: 2 hours 30 minutes
  • Exam fee: $260

Keys to Passing

  • Complete 500+ practice questions
  • Score 80%+ consistently before scheduling
  • Focus on highest-weighted sections
  • Use our AI tutor for tough concepts

Series 52 Study Tips from Top Performers

1Memorize the distinctions among GO bonds, revenue bonds, municipal notes, variable-rate demand obligations, and municipal fund securities.
2Practice price and yield relationships until premium, discount, basis, and yield-to-maturity reasoning feels automatic.
3Know what must be disclosed at or before settlement versus what must be disclosed at the time of trade.
4Study MSRB Rules G-17, G-19, G-20, G-32, G-37, G-47, G-14, G-15, G-8, and G-9 from a representative's point of view.
5Treat every suitability question as a customer-profile question first: objectives, tax status, liquidity needs, risk tolerance, and time horizon.
6Separate primary-market mechanics from secondary-market execution so syndicate questions do not blur with trading questions.
7Use full-length timed sets to build pacing for 80 delivered questions in 150 minutes.
8Review every missed practice item by tagging whether the miss came from product knowledge, pricing logic, or rule application.

Frequently Asked Questions

What is the Series 52 exam?

The Series 52 is the Municipal Securities Representative Qualification Examination. It qualifies a representative to engage in municipal securities business, including selling and underwriting municipal bonds and certain municipal fund securities, subject to firm registration and supervision requirements.

How many questions are on the Series 52?

FINRA lists 75 scored questions plus 5 unscored pretest questions. Candidates get 2 hours and 30 minutes to complete the exam, and the passing score is 70%.

Do I need the SIE before the Series 52?

Yes. MSRB states that individuals are required to pass the SIE exam as a prerequisite to qualifying as a municipal securities representative by passing the Series 52 examination.

What topics are most important on the Series 52?

The biggest section is Municipal Products and Analysis at 35%. The other heavy areas are Underwriting, Pricing, and Trading at 25% and Customer Accounts and Transactions at 25%, with Laws and Regulations at 15%.

How is Series 52 different from Series 51 and Series 53?

Series 52 is the representative-level qualification for municipal securities activities. Series 51 is a limited-principal exam focused on municipal fund securities, while Series 53 is the principal-level exam used to supervise broader municipal securities activities.

How should I study for Series 52?

Most candidates benefit from a 4-6 week plan that emphasizes municipal product features, pricing and yield mechanics, MSRB fair-dealing and suitability rules, and customer-account scenarios. Timed mixed-topic practice is especially useful because the exam blends product knowledge with rule application.