STUDY FOR THE SECURITIES INDUSTRY ESSENTIALS EXAM (SIE) EXAM

When preparing for the Securities Industry Exam (SIE), don't overlook Municipal Fund Securities. More than one SIE 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 SIE Exam contains questions on Municipal Fund Securities? I know this because FINRA's Content Outline for the SIE Exam specifically identifies these securities in Section 2.1.5 as covered by the test. Bob Eder in his Study for the Securities Industry  Essentials Exam (SIE) discusses Municipal Fund Securities in detail. Here is a sample of Bob Eder's treatment: Municipal Fund Securities                         ...

How many candidates walking in to take the Securities Industry Essentials exam have never heard about municipal fund securities? I bet a lot. Why? Because many SIE study guides make no mention of them. FINRA's Content Outline clearly indicates that FINRA considers knowledge of municipal fund securities to be required for the SIE exam. See 2.1.5 of FINRA's Content Outline. For example, what are the three types of municipal fund securities? Answer: the three types are local government investment pools, 529 programs, and Able accounts. Question: what is the purpose of Able accounts? Bob Eder has a full description of municipal fund securities, including Able accounts, on pages 119 to 124 in his Study for the Securities Industry Essentials Exam . Here is Bob Eder's description of Able accounts: "ABLE Programs (2.1.5) "Can states or their agencies establish tax-advantaged programs to help disabled individuals maintain their health and independence? Yes! Monies put in...