Practice sessionTAX & ENROLLED AGENT EXAMSFINRA Qualification Exams

Series 53 - Municipal Securities Principal Practice Exam 03

Practice exam for Series 53 - Municipal Securities Principal.

Active sessionSeries 53 - Municipal Securities Principal practice testSeries 53 - Municipal Securities Principal practice examSeries 53 - Municipal Securities Principal mock testSeries 53 - Municipal Securities Principal mock examSeries 53 - Municipal Securities Principal practice questions+3

Jump to questions Browse catalog

Question 1 of 1000%

Time remaining120:00

Attempts allowedUnlimited

Difficulty mixE • M • H

Back to exams

Question 1

MEDIUM

120:00

A municipal securities dealer receives a written complaint from a retail customer alleging misrepresentation in connection with a municipal bond transaction. Which action is MOST appropriate for the municipal securities principal?

A principal must ensure written complaints are handled under the firm’s supervisory procedures, investigated as appropriate, and retained in accordance with recordkeeping rules. There is no requirement to file routine customer complaints with the MSRB.

Select one answer

Forward the complaint to the MSRB within 10 business days and close the file

Ensure the complaint is promptly investigated, documented, and retained per applicable recordkeeping requirements

Respond only if the customer requests arbitration, because written complaints are not required to be retained

Offer to rescind the trade and, if accepted, no further documentation is necessary

Question 1 of 100

Community

Loading ranked answers and discussion...

Series 53 - Municipal Securities Principal Practice Exam 03

Manage your cookie preferences