Series 50 study plan

Define fiduciary duty for municipal advisors and write out the duty of care, duty of loyalty, and duty to avoid conflicts of interest in your own words

Distinguish the municipal advisor standard of conduct from the underwriter and broker-dealer standards, listing at least five points of divergence

Identify the disclosure obligations owed to municipal entities when a conflict cannot be avoided or mitigated, and describe the required written disclosure

Complete 30 targeted practice questions on standards of conduct and log the reasoning behind every missed item

Apply the prohibited-activities rules to at least ten written fact patterns and justify each conclusion

Contrast the advisor's obligations in an arm's-length versus a fiduciary relationship using three constructed scenarios

Outline the municipal issuance process from authorization through closing, naming the parties and documents produced at each stage

Explain the difference between general obligation and revenue bonds and identify which pledged revenue streams secure each type

Describe the principal types of municipal securities and match each to its typical security pledge and repayment source

Explain how interest rates, tax treatment, and market conditions affect municipal bond pricing and yield

Summarize the content and purpose of the official statement and the continuing disclosure obligations arising after issuance

Interpret a sample debt service schedule to calculate coverage ratios and identify refunding or structuring concerns

Complete 35 practice questions on municipal securities and municipal finance, documenting each error's root cause

Draft the elements of a municipal advisory engagement, including scope, compensation, and termination provisions

Distinguish the documentation required at each phase of an advisory relationship and identify records that must be retained

Sequence the steps of a typical advisory engagement from solicitation through final deliverable

Assess five engagement fact patterns for scope creep, undisclosed conflicts, and documentation gaps

Sit a cumulative timed quiz covering Domains 1 through 3 and analyze results by subtopic

Define the structure and cash-flow mechanics of municipal derivatives and identify the risks each instrument transfers

Explain swap terms including notional amount, termination events, and counterparty exposure in plain language

Distinguish permitted vs. prohibited advisory roles when a municipal entity considers a derivative transaction

Evaluate four derivative fact patterns for suitability, disclosure, and conflict issues

Complete 30 practice questions on municipal financial products and log the reasoning for each miss

Map each key MSRB rule affecting municipal advisors to the conduct it governs and the record it requires

Summarize the antifraud provisions of federal securities law and explain how they apply to advisory communications

Identify registration, qualification, and continuing-education requirements for municipal advisor representatives

Distinguish the regulatory roles of the SEC and MSRB in the municipal market

Complete 35 practice questions on federal securities law and MSRB rules with a written error analysis

Outline a firm's supervisory and compliance structure, including written supervisory procedures and review cadence

List the recordkeeping categories required for advisory engagements and state a retention period for each

Revisit your two weakest subtopics from weeks 1 through 6 and rewrite your notes for each from memory

Complete 40 mixed practice questions drawn from all six domains and categorize every error by domain

Sit two full-length timed practice exams under exam conditions and record domain-level scores for each

Rework every missed question from weeks 1 through 7 until you can state the governing rule without notes

Recite the fiduciary duty standards, prohibited practices, and MSRB obligations from memory in a self-administered oral drill

Build a final one-page formula and rule sheet limited to items you have missed more than once