Study for the Series 6 Exam

  When preparing for the Series 6 Exam, don't overlook Municipal Fund Securities. More than one Series 6 candidate has sat for test only to be surprised that there were questions on Municipal Fund Securities. First of all, you need to know the different types of these securities, such as 529 Plans, Local Government Investment Pools, and ABLE accounts. Then you need to know the different characteristics of each of these three types. How do I know that the Series 6 Exam contains questions on Municipal Fund Securities? I know this because FINRA's Content Outline for the Series 6 Exam specifically identifies these securities in Section 3.2 as covered by the test. Bob Eder in his  Study for the Series 6 Exam  discusses Municipal Fund Securities in detail. Here is a sample of Bob Eder's treatment: Municipal Fund Securities                            ...

Never heard of municipal fund securities? Then be forewarned, the Series 6 exam covers these securities and expects you to know what they are, how they are defined, and what they include. Many  Series 6 study manuals skip them altogether. Make sure that your study manual discusses and explains them.  Bob Eder devotes six whole pages to Municipal Fund Securities on pages 214 through 220 in his  Study for the  Series 6 Exam ,  including practice questions testing the reader on his/her understanding and grasp of the text . Here is a Bob Eder paragraph on one type of municipal fund securities, local government investment pools, taken from Bob Eder's book: "Local Government Investment Pools (LGIP's) (3.2) Who creates local government investment pools? Answer: A state or local government creates these LGIP's as trusts for the benefit of participating local governments within the state. These LGIP's are considered to be municipal securities by the SEC and municipal fun...