SERIES 51
Series 51 is an examination under the Financial Industry Regulatory Authority (FINRA) and supervised by the Municipal Securities Rulemaking Board (MSRB) for managers of broker/dealers who have already accomplished Series 24 or Series 26. Series 51 was made to challenge the knowledge of test takers regarding management of registered representatives that market municipal securities to customers with focus on Section 529 plans for college education. The exam is composed of 60 questions with a passing grade of 70%.
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Asset Substitution Problem
A problem which arises when a company trades its low-risk assets for high-risk investments. This substitution moves the value from the bondholders ...
Lawful Money
Any currency, in coin or paper form, that is issued by the United States Treasury, not the Federal Reserve System. It also includes gold and silver ...
Red Clause Letter Of Credit
It refers to a specific type of letter of credit where a buyer extends an unsecured loan to a seller. This permits documentary credit beneficiaries ...
Trust Certificate
Bond or debt investment backed by other assets and serve like a collateral. Normally in a public company, the assets may be seized or sold for the ...
Cowboy Marketing
Slang term for a situation in which a firm is unaware a marketer sends massive spam emails to everyone promote the stock, instead of producing legi ...
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