Frequently Asked Questions

The Official CMT Curriculum for 2025 is available only through the CMT Association. Candidates receive access when they register for the current exam cycle.

No. Not ALL the material in the required readings is covered in the exams. Each level of the CMT exams is designed to test a representative sample of the Body of Knowledge, but any given section of the curriculum could be drawn from for exam questions.

Information about the structure of the exams and brief samplers are available for download on each of the Level I, II and III pages. These are not meant as study guides; rather, they are offered to acquaint you with the style and format of the exams. These are similar to past CMT exams.

The CMT Association has adopted the CFA Institute Code of Ethics and Standards of Professional Conduct (“Code and Standards”) as its ethics guide.  All three levels of the CMT exams include questions pertaining to ethics.  All references to “CFA Institute”, “members”, “candidates”, “CFA Program”, etc. in the Code and Standards should be read to apply to CMT Association and its members, candidates, programs, etc.

When preparing for the CMT exams, candidates are encouraged to review the Standards of Practice Handbook (“Handbook”).  According to the CFA Institute “The Standards of Practice Handbook grounds the concepts covered in the Code and Standards for practical use. You can use this handbook for guidance on how to navigate ethical dilemmas you might face in your daily professional life.” Reviewing the Handbook provides a more comprehensive study process and preparation for professional practice.

Candidates are not required to memorize the formulas for the technical analysis indicators in the reading. For these, candidates should understand the critical price and volume inputs for each formula, the core of the calculation and how similar indicators differ based on these factors. However, there may be questions that will require the candidate to have a working knowledge of other types of formulas such as those related to volatility, risk and performance metrics. Of course, the style and difficulty of any question will vary with the level of the exam.

Questions on the CMT exams are derived solely from the official curriculum for that calendar year. There are many sources of additional information, books, websites, videos, etc. that might help to provide a better understanding of a topic, but these are not used for the development of exam questions.

CMT Association is a credentialing and advocacy body. We do not offer investment management or investment advisory services of any kind.

The Official CMT Curriculum for 2025 is available only through the CMT Association. Candidates receive access when they register for the current exam cycle.

No. Not ALL the material in the required readings is covered in the exams. Each level of the CMT exams is designed to test a representative sample of the Body of Knowledge, but any given section of the curriculum could be drawn from for exam questions.

Information about the structure of the exams and brief samplers are available for download on each of the Level I, II and III pages. These are not meant as study guides; rather, they are offered to acquaint you with the style and format of the exams. These are similar to past CMT exams.

The CMT Association has adopted the CFA Institute Code of Ethics and Standards of Professional Conduct (“Code and Standards”) as its ethics guide.  All three levels of the CMT exams include questions pertaining to ethics.  All references to “CFA Institute”, “members”, “candidates”, “CFA Program”, etc. in the Code and Standards should be read to apply to CMT Association and its members, candidates, programs, etc.

When preparing for the CMT exams, candidates are encouraged to review the Standards of Practice Handbook (“Handbook”).  According to the CFA Institute “The Standards of Practice Handbook grounds the concepts covered in the Code and Standards for practical use. You can use this handbook for guidance on how to navigate ethical dilemmas you might face in your daily professional life.” Reviewing the Handbook provides a more comprehensive study process and preparation for professional practice.

Candidates are not required to memorize the formulas for the technical analysis indicators in the reading. For these, candidates should understand the critical price and volume inputs for each formula, the core of the calculation and how similar indicators differ based on these factors. However, there may be questions that will require the candidate to have a working knowledge of other types of formulas such as those related to volatility, risk and performance metrics. Of course, the style and difficulty of any question will vary with the level of the exam.

Questions on the CMT exams are derived solely from the official curriculum for that calendar year. There are many sources of additional information, books, websites, videos, etc. that might help to provide a better understanding of a topic, but these are not used for the development of exam questions.

CMT Association is a credentialing and advocacy body. We do not offer investment management or investment advisory services of any kind.

The Official CMT Curriculum for 2025 is available only through the CMT Association. Candidates receive access to the curriculum when they register for the current exam cycle. 

No. Not ALL the material in the required readings is covered in the exams. Each level of the CMT exams is designed to test a representative sample of the Body of Knowledge. Any given section of the curriculum could be drawn from for exam questions. 

Information about the structure of the exams and brief samplers are available for download on each of the Level I, II and III pages. These are not meant as study guides; rather, they are offered to acquaint you with the style and format of the exams. These are representative sample questions provided for you to understand the format. They are not indicative of the subject matter or toughness of the exam. For practice questions and mock exams, please consult the network of Participating Prep Providers.

CMT Association adopted the CFA Institute Code of Ethics and Standards of Professional Conduct (“Code and Standards”) as its ethics guide.  All three levels of the CMT exams include questions pertaining to ethics.  All references to “CFA Institute,” “members,” “candidates,” “CFA Program,” etc. in the Code and Standards should be read to apply to CMT Association and its members, candidates, programs, etc. 

When preparing for the CMT exams, candidates are encouraged to review the Standards of Practice Handbook (“Handbook”).  According to the CFA Institute “The Standards of Practice Handbook grounds the concepts covered in the Code and Standards for practical use. You can use this handbook for guidance on how to navigate ethical dilemmas you might face in your daily professional life.” Reviewing the Handbook provides a more comprehensive study process and preparation for professional practice. 

Candidates do not need to memorize formulas for technical analysis indicators but should understand the key price and volume inputs, the core calculations, and differences between indicators. However, a working knowledge of formulas related to volatility, risk and performance metrics may be required. Question style and difficulty will vary by exam level.

Questions on the CMT exams are derived solely from the official curriculum for that calendar year. There are many sources of additional information, books, websites, videos, etc. that might help to provide a better understanding of a topic, but these are not used for the development of exam questions.

CMT Association is a credentialing and advocacy body. We do not offer investment management or investment advisory services of any kind.

There are no prerequisite requirements to sit for the CMT Exams, such as coursework, membership status, or professional work experience. We recommend that candidates have a university degree and exposure to financial markets using technical analysis before attempting the exams, but neither recommendation is a requirement. 

Please note that the CMT Association complies with The Office of Foreign Assets Control (OFAC) Policy, and is unable to work with individuals who live in countries subject to certain sanctions. For more information, please see our OFAC Compliance page. link or reference where to find the same 

The CMT Exams are held twice a year, in June and December. The dates for the next exam administration appear on each individual test level page.

There is no separate enrollment process, fee, or membership requirement to become a candidate in the CMT Program. Simply register for the CMT Level I exam and you will automatically have CMT Candidate status.  

Click here to register, then create a candidate MyCMT login and register for your exam with that login. Once that is complete, you can pay for your exam through MyCMT and schedule directly through Prometric. 

The CMT exams are administered globally at Prometric testing centers (our test administration partner). You will find the exam center nearest to you at the Prometric website once you complete your enrollment in the CMT Program. 

You may also opt to take your exam remotely with Prometric’s ProProctor application. Before scheduling your remote exam, please take the time to thoroughly review the requirements on our Remote Proctoring page. CMT Association or Prometric will not be liable if your exam is interrupted, or you aren’t able to or permitted log in to the exam due to inadequate infrastructure, technology, connectivity, or software at your end

Prometric testing centers (our test administration partner). You will find the exam center nearest to you at the Prometric website once you complete your enrollment in the CMT Program. 

You may also opt to take your exam remotely with Prometric’s ProProctor application. Before scheduling your remote exam, please take the time to thoroughly review the requirements on our Remote Proctoring page. CMT Association or Prometric will not be liable if your exam is interrupted, or you aren’t able to or permitted log in to the exam due to inadequate infrastructure, technology, connectivity, or software at your end

Ideally, you must schedule your appointment promptly after you register for your exam. Although there is no specific deadline, the number of available slots, both at Prometric test centers, and the ProProctor remote proctoring service, is limited. Therefore, it is recommended to book as early as possible to secure your preferred date and time. CMT Association will not be liable if you are not able to schedule your appointment in time. 

Yes, you may change your selected test center through Prometric by following the prompts to reschedule your exam. You may change your test location up to five days before the exam date. Please be aware that Prometric will charge a $25 administrative fee for any changes made 30 days before the start of the exams. 

No. Candidates may take only one exam per administration.

There is no limit on the number of attempts candidates may take to pass each level of the CMT exams. 

Once a candidate has enrolled in the CMT Program, there is no imposed time limit to pass the three levels of examination. However, given the annual updates and revisions to the curriculum, candidates are encouraged to complete the CMT Program in consecutive administrations, expediting their pursuit of the CMT designation.

If you do not arrive at your scheduled exam date/time/test center location, the examination fee is forfeited. There are no refunds or transfers. If you are unable to take the exam because you did not schedule your exam at Prometric in a timely manner, the fee will be forfeited.

Yes, but please see the Exam Deferral section within this FAQ.

Yes, you can reschedule your exam through Prometric. You may reschedule your exam before the registration deadline at no cost. There will be a $25 rescheduling fee to Prometric for all adjustments made after the close of standard registration.  

Candidates who register during the early and standard registration period may request a cancellation of their exam within two weeks of payment and will be eligible for a full refund. Candidates registering during the late registration deadline may request a cancellation of their exam within two days of payment and will be eligible for a refund minus the test center administration fees. You must provide confirmation of your cancellation from Prometric to receive your refund. If you registered during late registration and seek to cancel more than two days after payment, you are not eligible for a refund. 

To cancel your scheduled exam appointment, you must visit the Prometric website and cancel your appointment there. Once the cancellation of your appointment is complete, you must proceed to pay for a deferral to the next immediate exam cycle

Important: Simply canceling the appointment on Prometric does not automatically cancel your exam registration or defer you to the next exam cycle.

• Level I – 2 hours
• Level II – 4 hours
• Level III – 4 hours

• Level I – 132 multiple-choice questions (Only 120 are scored, 12 are for piloting new questions)
• Level II – 170 multiple-choice questions (Only 150 are scored, 20 are for piloting new questions)
• Level III – Essay and multiple-choice questions totaling 240 points. Candidates should use the point allocation of each question as guidance for time management.

• • Level I – primarily definitions & basic concepts – This exam measures basic, entry-level competence and understanding of technical analysis. The Level I candidate needs to have a working knowledge of the basic tools of a technical analyst. 
  • Level II – primarily application & analysis – This exam requires the candidate to demonstrate a greater depth of analysis and use of technical tools. The Level II candidate is expected to demonstrate proficiency in applying more advanced analytical techniques and technical analysis theory. 
  • Level III – primarily integration & synthesis – This exam tests the candidate on the development of logical and consistent research opinions, portfolio strategies and trading decisions based on a wide range of charts and technical data. The Level III candidate is asked to analyze case studies, make recommendations and justify those recommendations based on the data provided. 

No. Pretest questions are unscored and serve the purpose of expanding our question bank. There are 12 pretest items in the Level I exam and 20 pretest items in the Level II exam. We evaluate new questions psychometrically and statistically to ensure the relevance, validity, and appropriateness of each question to its respective level of the CMT exam. All items are scored at Level III. 

Important: There is no way for candidates to know which questions are unscored. As such, candidates are advised to treat each question as scored while taking the exam. 
 

The CMT exams have been approved for reimbursement of test fees for veterans and other eligible persons in accordance with the Division of Veterans’ Affairs policy. For information on how to submit reimbursements after your examination, please visit www.gibill.com.

The Official CMT Curriculum for 2025 is available only through the CMT Association. Candidates receive access when they register for the current exam cycle.

No. Not ALL the material in the required readings is covered in the exams. Each level of the CMT exams is designed to test a representative sample of the Body of Knowledge, but any given section of the curriculum could be drawn from for exam questions.

Information about the structure of the exams and brief samplers are available for download on each of the Level I, II and III pages. These are not meant as study guides; rather, they are offered to acquaint you with the style and format of the exams. These are similar to past CMT exams.

The CMT Association has adopted the CFA Institute Code of Ethics and Standards of Professional Conduct (“Code and Standards”) as its ethics guide.  All three levels of the CMT exams include questions pertaining to ethics.  All references to “CFA Institute”, “members”, “candidates”, “CFA Program”, etc. in the Code and Standards should be read to apply to CMT Association and its members, candidates, programs, etc.

When preparing for the CMT exams, candidates are encouraged to review the Standards of Practice Handbook (“Handbook”).  According to the CFA Institute “The Standards of Practice Handbook grounds the concepts covered in the Code and Standards for practical use. You can use this handbook for guidance on how to navigate ethical dilemmas you might face in your daily professional life.” Reviewing the Handbook provides a more comprehensive study process and preparation for professional practice.

Candidates are not required to memorize the formulas for the technical analysis indicators in the reading. For these, candidates should understand the critical price and volume inputs for each formula, the core of the calculation and how similar indicators differ based on these factors. However, there may be questions that will require the candidate to have a working knowledge of other types of formulas such as those related to volatility, risk and performance metrics. Of course, the style and difficulty of any question will vary with the level of the exam.

Questions on the CMT exams are derived solely from the official curriculum for that calendar year. There are many sources of additional information, books, websites, videos, etc. that might help to provide a better understanding of a topic, but these are not used for the development of exam questions.

CMT Association is a credentialing and advocacy body. We do not offer investment management or investment advisory services of any kind.

The Official CMT Curriculum for 2025 is available only through the CMT Association. Candidates receive access when they register for the current exam cycle.

No. Not ALL the material in the required readings is covered in the exams. Each level of the CMT exams is designed to test a representative sample of the Body of Knowledge, but any given section of the curriculum could be drawn from for exam questions.

Information about the structure of the exams and brief samplers are available for download on each of the Level I, II and III pages. These are not meant as study guides; rather, they are offered to acquaint you with the style and format of the exams. These are similar to past CMT exams.

The CMT Association has adopted the CFA Institute Code of Ethics and Standards of Professional Conduct (“Code and Standards”) as its ethics guide.  All three levels of the CMT exams include questions pertaining to ethics.  All references to “CFA Institute”, “members”, “candidates”, “CFA Program”, etc. in the Code and Standards should be read to apply to CMT Association and its members, candidates, programs, etc.

When preparing for the CMT exams, candidates are encouraged to review the Standards of Practice Handbook (“Handbook”).  According to the CFA Institute “The Standards of Practice Handbook grounds the concepts covered in the Code and Standards for practical use. You can use this handbook for guidance on how to navigate ethical dilemmas you might face in your daily professional life.” Reviewing the Handbook provides a more comprehensive study process and preparation for professional practice.

Candidates are not required to memorize the formulas for the technical analysis indicators in the reading. For these, candidates should understand the critical price and volume inputs for each formula, the core of the calculation and how similar indicators differ based on these factors. However, there may be questions that will require the candidate to have a working knowledge of other types of formulas such as those related to volatility, risk and performance metrics. Of course, the style and difficulty of any question will vary with the level of the exam.

Questions on the CMT exams are derived solely from the official curriculum for that calendar year. There are many sources of additional information, books, websites, videos, etc. that might help to provide a better understanding of a topic, but these are not used for the development of exam questions.

CMT Association is a credentialing and advocacy body. We do not offer investment management or investment advisory services of any kind.

The Official CMT Curriculum for 2025 is available only through the CMT Association. Candidates receive access when they register for the current exam cycle.

No. Not ALL the material in the required readings is covered in the exams. Each level of the CMT exams is designed to test a representative sample of the Body of Knowledge, but any given section of the curriculum could be drawn from for exam questions.

Information about the structure of the exams and brief samplers are available for download on each of the Level I, II and III pages. These are not meant as study guides; rather, they are offered to acquaint you with the style and format of the exams. These are similar to past CMT exams.

The CMT Association has adopted the CFA Institute Code of Ethics and Standards of Professional Conduct (“Code and Standards”) as its ethics guide.  All three levels of the CMT exams include questions pertaining to ethics.  All references to “CFA Institute”, “members”, “candidates”, “CFA Program”, etc. in the Code and Standards should be read to apply to CMT Association and its members, candidates, programs, etc.

When preparing for the CMT exams, candidates are encouraged to review the Standards of Practice Handbook (“Handbook”).  According to the CFA Institute “The Standards of Practice Handbook grounds the concepts covered in the Code and Standards for practical use. You can use this handbook for guidance on how to navigate ethical dilemmas you might face in your daily professional life.” Reviewing the Handbook provides a more comprehensive study process and preparation for professional practice.

Candidates are not required to memorize the formulas for the technical analysis indicators in the reading. For these, candidates should understand the critical price and volume inputs for each formula, the core of the calculation and how similar indicators differ based on these factors. However, there may be questions that will require the candidate to have a working knowledge of other types of formulas such as those related to volatility, risk and performance metrics. Of course, the style and difficulty of any question will vary with the level of the exam.

Questions on the CMT exams are derived solely from the official curriculum for that calendar year. There are many sources of additional information, books, websites, videos, etc. that might help to provide a better understanding of a topic, but these are not used for the development of exam questions.

CMT Association is a credentialing and advocacy body. We do not offer investment management or investment advisory services of any kind.

You have the option to sit for your CMT exam at home using the ProProctor application rather than traveling to a Prometric testing center. To take advantage of this option, your home computer setup and workspace environment must meet a strict set of requirements. You can review the requirements and find more information on our Remote Proctoring page

There are scheduled breaks built into the Level II and Level III exams.  

The Level II and III tests have each been divided into two sections, with a scheduled break available to all candidates between those sections. This occurs at a point halfway through the exam content, regardless of time remaining. The important points of information for candidates to know are: 

• 1. The scheduled break is optional. At that point in the exam, you will be given the choice of taking the break or continuing immediately to the second section of your exam. 

• 2. The break, should you take it, allows you 10 minutes that does not come out of your exam time. Anything longer than that will come from the time you have remaining in the exam.  

• 3. When working through each of the two sections of the exam, you may navigate forward and back through any of the questions in that section. At no time will you be allowed to navigate between sections. 

Test center staff and remote proctors will have this information and will guide you through the security procedures if you do take the break. 

There is no scheduled break in the Level I exam. 

Any other break in the Level II and Level III exams, and any break in the Level I exam, is considered unscheduled and the exam timer will continue running. 

All security protocols, e.g., check-in and check-out, must be followed for all breaks whether scheduled or unscheduled. 

You still can! Remote Proctoring is entirely optional. The CMT exam is still administered globally in-person at Prometric testing centers (our test administration partner). You will find the exam center nearest to you at the Prometric website once you complete your enrollment in the CMT Program.

If you experience any issues or get disconnected during your exam, contact the Prometric technical support team immediately at https://www.prometric.com/contact-us. Additionally, notify admin@cmtassociation.org for prompt assistance. 

There are no formal requirements to sit for the CMT Exams. We generally recommend that candidates have a university degree and experience working in the markets using technical analysis before attempting the exams, but that is not compulsory.

Please note that the CMT Association complies with The Office of Foreign Assets Control (OFAC) Policy and is unable to work with individuals who live in countries subject to certain sanctions. For more information, please see our OFAC Compliance page.

The CMT Exams are held twice a year, in June and December. The dates for the next exam administration appear on each individual test level page.

To enroll in the CMT program, visit the CMT Level 1 page. You’ll see one prominent button, which is the link to register for the exam. Click the link to register, create a candidate MyCMT login, and register for your exam with that login. Once that is complete, you can pay for your exam through MyCMT and schedule with Prometric.

The CMT exams are administered globally at Prometric testing centers (our test administration partner). You will find the exam center nearest to you at the Prometric website once you complete your enrollment in the CMT Program.

You may also opt to take your exam remotely with Prometric’s ProProctor application. Before scheduling your remote exam, please take the time to thoroughly review the requirements on our Remote Proctoring page.

CMT Association or Prometric will not be liable if your exam is interrupted, or you aren’t able to or permitted log in to the exam on account of inadequate infrastructure, technology, connectivity or software at your end.

Test centers are available around the world. Visit the Prometric website to enter your address information and view a list of available test center locations near you.

Test centers are available around the world. Visit the Prometric website to enter your address information and view a list of available test center locations near you.

Yes, you may change your selected test center through Prometric by following the prompts to reschedule your exam. You may change your test location up to five days before the exam date. Please be aware that Prometric will charge a $25 administrative fee for any changes made 30 days before the start of the exams.

No. Candidates may take only one exam per administration.

There is no limit on the number of attempts candidates may take to pass each level of the CMT exams.

Once a candidate has enrolled in the CMT Program, there is no imposed time limit to pass the three levels of examination. However, given the annual updates and revisions to the curriculum, candidates are encouraged to complete the CMT Program in consecutive administrations, expediting their pursuit of the CMT designation.

If you do not arrive at your scheduled exam date/time/test center location, the examination fee is forfeited. There are no refunds or transfers. If you are unable to take the exam because you did not schedule your exam at Prometric in a timely manner, the fee will be forfeited.

Yes, but please see the FAQ on Exam Deferral

Yes, you can reschedule your exam through Prometric. You may reschedule your exam before the registration deadline at no cost. There will be a $25 rescheduling fee to Prometric for all adjustments made after the close of standard registration.

Candidates who register during the early and standard registration period may request a cancellation of their exam within two weeks of payment and will be eligible for a full refund. Candidates registering during the late registration deadline may request a cancellation of their exam within two days of payment and will be eligible for a refund minus the test center administration fees. You must provide confirmation of your cancellation from Prometric to receive your refund. If you registered during late registration and seek to cancel more than two days after payment, you are not eligible for a refund.

To cancel your scheduled exam appointment, you must visit the Prometric website and cancel your appointment there. Once the cancellation of your appointment is complete, you must proceed to pay for a deferral to the next immediate exam cycle

Important: Simply canceling the appointment on Prometric does not automatically cancel your exam registration or defer you to the next exam cycle.

• Level I – 2 hours
• Level II – 4 hours
• Level III – 4 hours

• Level I – 132 multiple-choice questions (Only 120 are scored, 12 are for piloting new questions)
• Level II – 170 multiple-choice questions (Only 150 are scored, 20 are for piloting new questions)
• Level III – Essay and multiple-choice questions totaling 240 points. Candidates should use the point allocation of each question as guidance for time management.

• Level I – primarily definitions & basic concepts – This exam measures basic, entry-level competence and understanding of technical analysis. The Level I candidate needs to have a working knowledge of the basic tools of a technical analyst.
• Level II – primarily application & analysis – This exam requires the candidate to demonstrate a greater depth of analysis and use of technical tools. The Level II candidate is expected to demonstrate proficiency in applying more advanced analytical techniques and technical analysis theory.
• Level III – primarily integration & synthesis – This exam tests the candidate on the development of logical and consistent research opinions, portfolio strategies and trading decisions based on a wide range of charts and technical data. The Level III candidate is asked to analyze case studies, make recommendations and justify those recommendations based on the data provided.

No. Pretest questions are unscored and serve the purpose of expanding our question bank. There are 12 pretest items in the Level I exam and 20 pretest items in the Level II exam. We evaluate new questions psychometrically and statistically to ensure the relevance, validity, and appropriateness of each question to its respective level of the CMT exam. All items are scored at Level III.

Important: There is no way for candidates to know which questions are unscored. As such, candidates are advised to treat each question as scored while taking the exam.

The CMT exams have been approved for reimbursement of test fees for veterans and other eligible persons in accordance with the Division of Veterans’ Affairs policy. For information on how to submit reimbursements after your examination, please visit www.gibill.com.

There are no formal requirements to sit for the CMT Exams. We generally recommend that candidates have a university degree and experience working in the markets using technical analysis before attempting the exams, but that is not compulsory.

Please note that the CMT Association complies with The Office of Foreign Assets Control (OFAC) Policy and is unable to work with individuals who live in countries subject to certain sanctions. For more information, please see our OFAC Compliance page.

The CMT Exams are held twice a year, in June and December. The dates for the next exam administration appear on each individual test level page.

To enroll in the CMT program, visit the CMT Level 1 page. You’ll see one prominent button, which is the link to register for the exam. Click the link to register, create a candidate MyCMT login, and register for your exam with that login. Once that is complete, you can pay for your exam through MyCMT and schedule with Prometric.

The CMT exams are administered globally at Prometric testing centers (our test administration partner). You will find the exam center nearest to you at the Prometric website once you complete your enrollment in the CMT Program.

You may also opt to take your exam remotely with Prometric’s ProProctor application. Before scheduling your remote exam, please take the time to thoroughly review the requirements on our Remote Proctoring page.

CMT Association or Prometric will not be liable if your exam is interrupted, or you aren’t able to or permitted log in to the exam on account of inadequate infrastructure, technology, connectivity or software at your end.

Test centers are available around the world. Visit the Prometric website to enter your address information and view a list of available test center locations near you.

Test centers are available around the world. Visit the Prometric website to enter your address information and view a list of available test center locations near you.

Yes, you may change your selected test center through Prometric by following the prompts to reschedule your exam. You may change your test location up to five days before the exam date. Please be aware that Prometric will charge a $25 administrative fee for any changes made 30 days before the start of the exams.

No. Candidates may take only one exam per administration.

There is no limit on the number of attempts candidates may take to pass each level of the CMT exams.

Once a candidate has enrolled in the CMT Program, there is no imposed time limit to pass the three levels of examination. However, given the annual updates and revisions to the curriculum, candidates are encouraged to complete the CMT Program in consecutive administrations, expediting their pursuit of the CMT designation.

If you do not arrive at your scheduled exam date/time/test center location, the examination fee is forfeited. There are no refunds or transfers. If you are unable to take the exam because you did not schedule your exam at Prometric in a timely manner, the fee will be forfeited.

Yes, but please see the FAQ on Exam Deferral

Yes, you can reschedule your exam through Prometric. You may reschedule your exam before the registration deadline at no cost. There will be a $25 rescheduling fee to Prometric for all adjustments made after the close of standard registration.

Candidates who register during the early and standard registration period may request a cancellation of their exam within two weeks of payment and will be eligible for a full refund. Candidates registering during the late registration deadline may request a cancellation of their exam within two days of payment and will be eligible for a refund minus the test center administration fees. You must provide confirmation of your cancellation from Prometric to receive your refund. If you registered during late registration and seek to cancel more than two days after payment, you are not eligible for a refund.

To cancel your scheduled exam appointment, you must visit the Prometric website and cancel your appointment there. Once the cancellation of your appointment is complete, you must proceed to pay for a deferral to the next immediate exam cycle

Important: Simply canceling the appointment on Prometric does not automatically cancel your exam registration or defer you to the next exam cycle.

• Level I – 2 hours
• Level II – 4 hours
• Level III – 4 hours

• Level I – 132 multiple-choice questions (Only 120 are scored, 12 are for piloting new questions)
• Level II – 170 multiple-choice questions (Only 150 are scored, 20 are for piloting new questions)
• Level III – Essay and multiple-choice questions totaling 240 points. Candidates should use the point allocation of each question as guidance for time management.

• Level I – primarily definitions & basic concepts – This exam measures basic, entry-level competence and understanding of technical analysis. The Level I candidate needs to have a working knowledge of the basic tools of a technical analyst.
• Level II – primarily application & analysis – This exam requires the candidate to demonstrate a greater depth of analysis and use of technical tools. The Level II candidate is expected to demonstrate proficiency in applying more advanced analytical techniques and technical analysis theory.
• Level III – primarily integration & synthesis – This exam tests the candidate on the development of logical and consistent research opinions, portfolio strategies and trading decisions based on a wide range of charts and technical data. The Level III candidate is asked to analyze case studies, make recommendations and justify those recommendations based on the data provided.

No. Pretest questions are unscored and serve the purpose of expanding our question bank. There are 12 pretest items in the Level I exam and 20 pretest items in the Level II exam. We evaluate new questions psychometrically and statistically to ensure the relevance, validity, and appropriateness of each question to its respective level of the CMT exam. All items are scored at Level III.

Important: There is no way for candidates to know which questions are unscored. As such, candidates are advised to treat each question as scored while taking the exam.

The CMT exams have been approved for reimbursement of test fees for veterans and other eligible persons in accordance with the Division of Veterans’ Affairs policy. For information on how to submit reimbursements after your examination, please visit www.gibill.com.

There are no formal requirements to sit for the CMT Exams. We generally recommend that candidates have a university degree and experience working in the markets using technical analysis before attempting the exams, but that is not compulsory.

Please note that the CMT Association complies with The Office of Foreign Assets Control (OFAC) Policy and is unable to work with individuals who live in countries subject to certain sanctions. For more information, please see our OFAC Compliance page.

The CMT Exams are held twice a year, in June and December. The dates for the next exam administration appear on each individual test level page.

To enroll in the CMT program, visit the CMT Level 1 page. You’ll see one prominent button, which is the link to register for the exam. Click the link to register, create a candidate MyCMT login, and register for your exam with that login. Once that is complete, you can pay for your exam through MyCMT and schedule with Prometric.

The CMT exams are administered globally at Prometric testing centers (our test administration partner). You will find the exam center nearest to you at the Prometric website once you complete your enrollment in the CMT Program.

You may also opt to take your exam remotely with Prometric’s ProProctor application. Before scheduling your remote exam, please take the time to thoroughly review the requirements on our Remote Proctoring page.

CMT Association or Prometric will not be liable if your exam is interrupted, or you aren’t able to or permitted log in to the exam on account of inadequate infrastructure, technology, connectivity or software at your end.

Test centers are available around the world. Visit the Prometric website to enter your address information and view a list of available test center locations near you.

Test centers are available around the world. Visit the Prometric website to enter your address information and view a list of available test center locations near you.

Yes, you may change your selected test center through Prometric by following the prompts to reschedule your exam. You may change your test location up to five days before the exam date. Please be aware that Prometric will charge a $25 administrative fee for any changes made 30 days before the start of the exams.

No. Candidates may take only one exam per administration.

There is no limit on the number of attempts candidates may take to pass each level of the CMT exams.

Once a candidate has enrolled in the CMT Program, there is no imposed time limit to pass the three levels of examination. However, given the annual updates and revisions to the curriculum, candidates are encouraged to complete the CMT Program in consecutive administrations, expediting their pursuit of the CMT designation.

If you do not arrive at your scheduled exam date/time/test center location, the examination fee is forfeited. There are no refunds or transfers. If you are unable to take the exam because you did not schedule your exam at Prometric in a timely manner, the fee will be forfeited.

Yes, but please see the FAQ on Exam Deferral

Yes, you can reschedule your exam through Prometric. You may reschedule your exam before the registration deadline at no cost. There will be a $25 rescheduling fee to Prometric for all adjustments made after the close of standard registration.

Candidates who register during the early and standard registration period may request a cancellation of their exam within two weeks of payment and will be eligible for a full refund. Candidates registering during the late registration deadline may request a cancellation of their exam within two days of payment and will be eligible for a refund minus the test center administration fees. You must provide confirmation of your cancellation from Prometric to receive your refund. If you registered during late registration and seek to cancel more than two days after payment, you are not eligible for a refund.

To cancel your scheduled exam appointment, you must visit the Prometric website and cancel your appointment there. Once the cancellation of your appointment is complete, you must proceed to pay for a deferral to the next immediate exam cycle

Important: Simply canceling the appointment on Prometric does not automatically cancel your exam registration or defer you to the next exam cycle.

• Level I – 2 hours
• Level II – 4 hours
• Level III – 4 hours

• Level I – 132 multiple-choice questions (Only 120 are scored, 12 are for piloting new questions)
• Level II – 170 multiple-choice questions (Only 150 are scored, 20 are for piloting new questions)
• Level III – Essay and multiple-choice questions totaling 240 points. Candidates should use the point allocation of each question as guidance for time management.

• Level I – primarily definitions & basic concepts – This exam measures basic, entry-level competence and understanding of technical analysis. The Level I candidate needs to have a working knowledge of the basic tools of a technical analyst.
• Level II – primarily application & analysis – This exam requires the candidate to demonstrate a greater depth of analysis and use of technical tools. The Level II candidate is expected to demonstrate proficiency in applying more advanced analytical techniques and technical analysis theory.
• Level III – primarily integration & synthesis – This exam tests the candidate on the development of logical and consistent research opinions, portfolio strategies and trading decisions based on a wide range of charts and technical data. The Level III candidate is asked to analyze case studies, make recommendations and justify those recommendations based on the data provided.

No. Pretest questions are unscored and serve the purpose of expanding our question bank. There are 12 pretest items in the Level I exam and 20 pretest items in the Level II exam. We evaluate new questions psychometrically and statistically to ensure the relevance, validity, and appropriateness of each question to its respective level of the CMT exam. All items are scored at Level III.

Important: There is no way for candidates to know which questions are unscored. As such, candidates are advised to treat each question as scored while taking the exam.

The CMT exams have been approved for reimbursement of test fees for veterans and other eligible persons in accordance with the Division of Veterans’ Affairs policy. For information on how to submit reimbursements after your examination, please visit www.gibill.com.

The CMT Association does not offer prep courses nor does the CMT Association endorse any preparation course. The CMT Association encourages candidates to view the list of Participating Prep Providers of preparation courses. Keep in mind that while third-party prep courses or exam banks may be helpful, this content is not reviewed by the Curriculum and Test Committee nor endorsed by the CMT Association

The objective of the CMT Program is not only to provide candidates with resources needed to learn the theory and discipline of technical analysis, but also the practical implementation of the toolkit. Therefore, we partnered with Optuma Financial Solutions (formerly Market Analyst Software) to give registered candidates a platform to experience the functional application of technical analysis. Optuma will provide specially designed software, at no cost for registered candidates, from their date of registration until the exam date and renew their free access with each subsequent exam registration. 

We examined many products as part of this partnership selection process, and it was clear that Optuma is the best fit for our CMT candidates for three main reasons: 

1) Optuma continues to innovate in ways that help the industry and its practitioners. They strive to create the best solutions for technical and quantitative analysts. 

2) The CEO, and other senior staff, are CMT charterholders. They understand what we need in our tools and offer knowledgeable support to CMT candidates. 

3) The discipline of technical analysis requires each of us to communicate investment ideas with clients and peers via graphical information. Optuma has impeccable graphics and data visualization tools; this platform is used by professional analysts around the world. Interested users can reach Optuma support with questions by clicking here.

The easiest way to network with other candidates in the CMT program is to attend local chapter meetings. Another easy way to engage with fellow candidates and form a group is on CMT Association’s official Discord server: https://cmta.fyi/discord

The server has premium access channels for candidates of each level, as well as opportunities to engage with CMT charter holders and other technical–analysis enthusiasts from around the world. 

Yes, the CMT Exam Program is designed to be self-study.

The CMT Curriculum & Test Committee recommends the following minimum study hours for each level of the CMT exam. These estimates are based on a college education and a background working in the financial markets: 

• CMT Exam Level I : 80 to 120 hours 

• CMT Exam Level II : 100 to 140 hours 

• CMT Exam Level III : 120 to 160 hours 

Recommended study time differs from person to person based on experience with the subject, time working in the field, and prior knowledge of technical analysis. However, these are rigorous exams testing a broad body of knowledge. All candidates, regardless of work experience, must allocate appropriate time to prepare. 

Beginning in 2020, you have the option to sit for your CMT exam at home using the ProProctor application rather than traveling to a Prometric testing center. To take advantage of this new option, your home computer setup and workspace environment must meet a strict set of requirements. You can review the requirements and find more information on our Remote Proctoring page.

You will be able to take a scheduled break if you are taking the Level II or Level III exam. You will not be able to take a break if you are taking the Level I exam.

The Level II and III tests have each been divided into two sections, with a scheduled break available to all candidates between those sections. This occurs at a point halfway through the exam content, regardless of time remaining. The important points of information for candidates to know are:

1. The break is optional. At that point in the exam, you will be given the choice of taking the break or continuing immediately to the second section of your exam.

2. The break, should you take it, allows you 10 minutes that does not come out of your exam time. Anything longer than that will come from the time you have remaining in the exam.

3. When working through each of the two sections of the exam, you may navigate forward and back through any of the questions in that section. At no time will you be allowed to navigate between sections.

Test center staff and remote proctors will have this information and will guide you through the security procedures if you do take the break.

You still can! Remote Proctoring is entirely optional. The CMT exam is still administered globally in-person at Prometric testing centers (our test administration partner). You will find the exam center nearest to you at the Prometric website once you complete your enrollment in the CMT Program.

Beginning in 2020, you have the option to sit for your CMT exam at home using the ProProctor application rather than traveling to a Prometric testing center. To take advantage of this new option, your home computer setup and workspace environment must meet a strict set of requirements. You can review the requirements and find more information on our Remote Proctoring page.

You will be able to take a scheduled break if you are taking the Level II or Level III exam. You will not be able to take a break if you are taking the Level I exam.

The Level II and III tests have each been divided into two sections, with a scheduled break available to all candidates between those sections. This occurs at a point halfway through the exam content, regardless of time remaining. The important points of information for candidates to know are:

1. The break is optional. At that point in the exam, you will be given the choice of taking the break or continuing immediately to the second section of your exam.

2. The break, should you take it, allows you 10 minutes that does not come out of your exam time. Anything longer than that will come from the time you have remaining in the exam.

3. When working through each of the two sections of the exam, you may navigate forward and back through any of the questions in that section. At no time will you be allowed to navigate between sections.

Test center staff and remote proctors will have this information and will guide you through the security procedures if you do take the break.

You still can! Remote Proctoring is entirely optional. The CMT exam is still administered globally in-person at Prometric testing centers (our test administration partner). You will find the exam center nearest to you at the Prometric website once you complete your enrollment in the CMT Program.

Beginning in 2020, you have the option to sit for your CMT exam at home using the ProProctor application rather than traveling to a Prometric testing center. To take advantage of this new option, your home computer setup and workspace environment must meet a strict set of requirements. You can review the requirements and find more information on our Remote Proctoring page.

You will be able to take a scheduled break if you are taking the Level II or Level III exam. You will not be able to take a break if you are taking the Level I exam.

The Level II and III tests have each been divided into two sections, with a scheduled break available to all candidates between those sections. This occurs at a point halfway through the exam content, regardless of time remaining. The important points of information for candidates to know are:

1. The break is optional. At that point in the exam, you will be given the choice of taking the break or continuing immediately to the second section of your exam.

2. The break, should you take it, allows you 10 minutes that does not come out of your exam time. Anything longer than that will come from the time you have remaining in the exam.

3. When working through each of the two sections of the exam, you may navigate forward and back through any of the questions in that section. At no time will you be allowed to navigate between sections.

Test center staff and remote proctors will have this information and will guide you through the security procedures if you do take the break.

You still can! Remote Proctoring is entirely optional. The CMT exam is still administered globally in-person at Prometric testing centers (our test administration partner). You will find the exam center nearest to you at the Prometric website once you complete your enrollment in the CMT Program.

Candidates who register during the early and standard registration period may request a cancellation of their exam within two weeks of payment and will be eligible for a full refund. Candidates registering during the late registration deadline may request a cancellation of their exam within two days of payment and will be eligible for a refund minus the test center administration fees. You must provide a confirmation of your cancellation from Prometric to receive your refund. If you registered during late registration and seek to cancel more than two days after payment, you are not eligible for a refund.

(Available once per paid exam registration.) 

Candidates may purchase a USD 350 deferral until the deadline*. Your paid deferral allows you to postpone your exam appointment to the next scheduled exam cycle. For example, if you are currently registered for the June 2024 Level 1 exam, you may defer that registration to the December 2024 cycle by purchasing a new registration for the December 2024 exam cycle. 

*Deadline – paid deferrals must be submitted not less than 3-weeks prior to the start of the registered exam cycle, i.e. if the exam cycle begins on 2 June, then you may purchase a deferral until 12 May. 

CMT Association contracts with our exam administrator and incurs extra expenses anytime a candidate changes their plans. We pay for your absence from an expected exam and the cost to arrange for seating for a future exam. 

If you pay to defer your exam, you need to visit the Prometric website and cancel your appointment there. Once the cancellation is complete, you must proceed to pay for a deferral to the next immediate exam cycle.  

Important: Simply canceling the appointment on Prometric does not automatically defer you to the next exam cycle.

You will receive an email containing your registration information for your next exam. 
 

Candidates registered for an exam can find the deferral form here when it is available for their exam window. You must wait until the deferral form is available for your window to submit your deferral request. 

When you purchase the deferral, your registration and scheduled appointment will be cancelled. Purchase of the paid deferral allows you to move your exam appointment to the next scheduled exam window, generally in six months. Once your deferral is processed, you will be registered for the next exam cycle, and you will be able to schedule your exam time with Prometric. 

Only one paid deferral is permitted for each paid registration. Once the initial deferral is purchased, you cannot defer again. If another change is required, you must pay for a new registration. 

Choosing and paying for a deferral cancels your registration and scheduled exam appointment (if applicable). It is a binding decision and cannot be changed. Refunds are not available. 

The fee to change your scheduled appointment within the exam window is $25 USD. 

The CMT Association does not offer prep courses nor does the CMT Association endorse any preparation course. The CMT Association is aware of the following preparation courses for you to assess independently. Optuma Education Services offers preparation courses for all exam levels. The New York Institute of Finance offers an online preparation course for the Level I exam. UWorld, our publishing partner for the CMT Program curriculum, offers courses for all exam levels. Keep in mind that while third-party prep courses or exam banks may be helpful, this content is not reviewed by the Curriculum and Test Committee nor endorsed by the CMT Association.

The objective of the CMT Program is not only to provide candidates with resources needed to learn the theory and discipline of technical analysis, but also the practical implementation of the toolkit. Therefore, we partnered with Optuma Financial Solutions (formerly Market Analyst Software) to give registered candidates a platform to experience the functional application of technical analysis. Optuma will provide specially designed software, at no cost for registered candidates, from their date of registration until the exam date and renew their free access with each subsequent exam registration.

We examined many products as part of this partnership selection process, and it was clear that Optuma is the best fit for our CMT candidates for three main reasons:

1) Optuma continues to innovate in ways that help the industry and its practitioners. They strive to create the best solutions for technical and quantitative analysts.

2) The CEO, and other senior staff, are CMT charterholders. They understand what we need in our tools and offer knowledgeable support to CMT candidates.

3) The discipline of technical analysis requires each of us to communicate investment ideas with clients and peers via graphical information. Optuma has impeccable graphics and data visualization tools; this platform is used by professional analysts around the world.

Interested users can reach Optuma support with questions by clicking here.

The easiest way to network with other candidates in the CMT program is to attend local chapter meetings. Another easy way to engage with fellow candidates and form a group is on CMT Association’s official Discord server: https://cmta.fyi/discord .

The server has premium access channels for candidates of each level, as well as opportunities to engage with CMT charter holders and other technical analysis enthusiasts from around the world. 

Yes, the CMT Exam Program is designed to be self-study.

The CMT Curriculum & Test Committee recommends the following minimum study hours for each level of the CMT exam. These estimates are based on a college education and a background working in the financial markets:

• CMT Exam Level I : 80 to 120 hours
• CMT Exam Level II : 100 to 140 hours
• CMT Exam Level III : 120 to 160 hours

Recommended study time differs from person to person based on experience with the subject, time working in the field, and prior knowledge of technical analysis. However, these are rigorous exams testing a broad body of knowledge. All candidates, regardless of work experience, must allocate appropriate time to prepare the material.

The CMT Association does not offer prep courses nor does the CMT Association endorse any preparation course. The CMT Association is aware of the following preparation courses for you to assess independently. Optuma Education Services offers preparation courses for all exam levels. The New York Institute of Finance offers an online preparation course for the Level I exam. UWorld, our publishing partner for the CMT Program curriculum, offers courses for all exam levels. Keep in mind that while third-party prep courses or exam banks may be helpful, this content is not reviewed by the Curriculum and Test Committee nor endorsed by the CMT Association.

The objective of the CMT Program is not only to provide candidates with resources needed to learn the theory and discipline of technical analysis, but also the practical implementation of the toolkit. Therefore, we partnered with Optuma Financial Solutions (formerly Market Analyst Software) to give registered candidates a platform to experience the functional application of technical analysis. Optuma will provide specially designed software, at no cost for registered candidates, from their date of registration until the exam date and renew their free access with each subsequent exam registration.

We examined many products as part of this partnership selection process, and it was clear that Optuma is the best fit for our CMT candidates for three main reasons:

1) Optuma continues to innovate in ways that help the industry and its practitioners. They strive to create the best solutions for technical and quantitative analysts.

2) The CEO, and other senior staff, are CMT charterholders. They understand what we need in our tools and offer knowledgeable support to CMT candidates.

3) The discipline of technical analysis requires each of us to communicate investment ideas with clients and peers via graphical information. Optuma has impeccable graphics and data visualization tools; this platform is used by professional analysts around the world.

Interested users can reach Optuma support with questions by clicking here.

The easiest way to network with other candidates in the CMT program is to attend local chapter meetings. Another easy way to engage with fellow candidates and form a group is on CMT Association’s official Discord server: https://cmta.fyi/discord .

The server has premium access channels for candidates of each level, as well as opportunities to engage with CMT charter holders and other technical analysis enthusiasts from around the world. 

Yes, the CMT Exam Program is designed to be self-study.

The CMT Curriculum & Test Committee recommends the following minimum study hours for each level of the CMT exam. These estimates are based on a college education and a background working in the financial markets:

• CMT Exam Level I : 80 to 120 hours
• CMT Exam Level II : 100 to 140 hours
• CMT Exam Level III : 120 to 160 hours

Recommended study time differs from person to person based on experience with the subject, time working in the field, and prior knowledge of technical analysis. However, these are rigorous exams testing a broad body of knowledge. All candidates, regardless of work experience, must allocate appropriate time to prepare the material.

Plan to arrive 30 minutes before the scheduled appointment to allow for check-in procedures. If you arrive late, you will not be allowed to take the test and will forfeit your exam fee. At certain Prometric test center locations, you will need to pay for parking, including cash only parking lots. 

Candidates should print a confirmation of their scheduled exam from the Prometric website. This confirmation contains the date and time of the exam, and the address of the test center. A calculator will be available on the computer screen during your exam. Prometric will provide paper and pencils that candidates may use to work through questions while in the test center. CANDIDATES MUST PROVIDE VALID ACCEPTABLE IDENTIFICATION (ID) TO BE ALLOWED TO SIT FOR AN EXAM, WHETHER IN A TEST CENTER OR VIA REMOTE PROCTORING. PLEASE SEE THE NEXT SECTION FOR MORE INFORMATION ABOUT ACCEPTABLE FORMS OF ID. 

Candidates are required to present ORIGINAL (not photocopied) UNEXPIRED government-issued, photo- and signature-bearing ID, in English.  Acceptable documents, bearing both photo and signature, are: 

• Driver’s License 

• State or Government-Issued ID Card 

• Passport 

• Military ID Card 

• India:  

• PAN Card 

• Aadhaar Card, with photograph, will be accepted as primary ID but requires a second form of ID with a signature, as noted below. 

If the primary ID presented contains only a photo but no signature, the candidate may present a second form of ID with a signature. Acceptable forms of secondary ID are 

• Employee ID 

• School ID 

• Credit Card 
   

Important: Candidates with expired ID cards or ID cards missing either a photograph or a signature will NOT be allowed to test. Ensure your ID is valid and meets the requirements to avoid being denied entry. 

For Test Centers Only: Prometric takes our role of providing a secure test environment seriously. During the check-in process, we inspect any and all eyeglasses, jewelry and other accessories to look for camera devices that could be used to capture exam content. You will be required to remove your eyeglasses for close visual inspection. These inspections will take a few seconds and will be done at check-in and again upon return from breaks before you enter the testing room to ensure you do not violate any security protocol. Jewelry other than wedding and engagement rings is prohibited. Please do not wear other jewelry to the test center. Hair accessories, ties and bowties are subject to inspection. Please refrain from using ornate clips, combs, barrettes, headbands, tie clips, cuff links and other hair accessories as you may be prohibited from wearing them into the testing room and asked to store them in your locker. Violation of security protocol may result in the confiscation of prohibited devices and termination of your exam. 

The CMT Level I Exam does not have a scheduled break. You may take an unscheduled break but be aware that the countdown for your exam will continue while on your break. 

CMT Level II & III each have a scheduled break of 10 minutes. During the scheduled break, candidates will not be able to go back to Part I of the exam; during additional unscheduled breaks, the countdown of the exam will continue. Each time you leave the test room you must sign out. During your exam break you cannot access your locker or leave the building. Upon return from a break, you must go through all security checks, present valid ID, and sign-in again. If you need to take medication during the exam, please contact the CMT Association at admin@cmtassociation.org  before scheduling your exam. For additional information regarding Prometric’s Test Center Regulations,  please click here.

If you have a special need or require any accommodations, please contact the CMT Association after you register for your exam. Candidates must contact the CMT Association at least fifty (50) days prior to your test date to request special testing arrangements. The CMT Association does not limit testing accommodations only to those who are US citizens or who reside in the US.

You can visit Prometric’s page which outlines this:

Prometric.com/test-takers/what-expect

Candidates who register during the early and standard registration period may request a cancellation of their exam within two weeks of payment and will be eligible for a full refund. Candidates registering during the late registration deadline may request a cancellation of their exam within two days of payment and will be eligible for a refund minus the test center administration fees. You must provide a confirmation of your cancellation from Prometric to receive your refund. If you registered during late registration and seek to cancel more than two days after payment, you are not eligible for a refund.

(Available once per paid exam registration.)

Candidates may purchase a USD 350 deferral until the deadline*. Your paid deferral allows you to postpone your exam appointment to the next scheduled exam cycle. For example, if you are currently registered for the June 2024 Level 1 exam, you may defer that registration to the December 2024 cycle by purchasing a new registration for the December 2024 exam cycle.

*Deadline – paid deferrals must be submitted not less than 3-weeks prior to the start of the registered exam cycle, i.e. if the exam cycle begins on 2 June, then you may purchase a deferral until 12 May.

CMT Association contracts with our exam administrator and incurs extra expenses anytime a candidate changes their plans. We pay for your absence from an expected exam and the cost to arrange for seating for a future exam.

If you pay to defer your exam, you need to visit the Prometric website and cancel your appointment there. Once the cancellation is complete, you must proceed to pay for a deferral to the next immediate exam cycle.

Important: Simply canceling the appointment on Prometric does not automatically defer you to the next exam cycle.

You will receive an email containing your registration information for your next exam.

Candidates registered for an exam can find the deferral form Here when it is available for their exam window. You must wait until the deferral form is available for your window to submit your deferral request.

When you purchase the deferral, your registration and scheduled appointment will be cancelled. Purchase of the paid deferral allows you to move your exam appointment to the next scheduled exam window, generally in six months. Once your deferral is processed, you will be registered for the next exam cycle, and you will be able to schedule your exam time with Prometric.

Only one paid deferral is permitted for each paid registration. Once the initial deferral is purchased, you cannot defer again. If another change is required, you must pay for a new registration.

Choosing and paying for a deferral cancels your registration and scheduled exam appointment (if applicable). It is a binding decision and cannot be changed. Refunds are not available.

The fee to change your scheduled appointment within the exam window is USD 25.

Candidates who register during the early and standard registration period may request a cancellation of their exam within two weeks of payment and will be eligible for a full refund. Candidates registering during the late registration deadline may request a cancellation of their exam within two days of payment and will be eligible for a refund minus the test center administration fees. You must provide a confirmation of your cancellation from Prometric to receive your refund. If you registered during late registration and seek to cancel more than two days after payment, you are not eligible for a refund.

(Available once per paid exam registration.)

Candidates may purchase a USD 350 deferral until the deadline*. Your paid deferral allows you to postpone your exam appointment to the next scheduled exam cycle. For example, if you are currently registered for the June 2024 Level 1 exam, you may defer that registration to the December 2024 cycle by purchasing a new registration for the December 2024 exam cycle.

*Deadline – paid deferrals must be submitted not less than 3-weeks prior to the start of the registered exam cycle, i.e. if the exam cycle begins on 2 June, then you may purchase a deferral until 12 May.

CMT Association contracts with our exam administrator and incurs extra expenses anytime a candidate changes their plans. We pay for your absence from an expected exam and the cost to arrange for seating for a future exam.

If you pay to defer your exam, you need to visit the Prometric website and cancel your appointment there. Once the cancellation is complete, you must proceed to pay for a deferral to the next immediate exam cycle.

Important: Simply canceling the appointment on Prometric does not automatically defer you to the next exam cycle.

You will receive an email containing your registration information for your next exam.

Candidates registered for an exam can find the deferral form Here when it is available for their exam window. You must wait until the deferral form is available for your window to submit your deferral request.

When you purchase the deferral, your registration and scheduled appointment will be cancelled. Purchase of the paid deferral allows you to move your exam appointment to the next scheduled exam window, generally in six months. Once your deferral is processed, you will be registered for the next exam cycle, and you will be able to schedule your exam time with Prometric.

Only one paid deferral is permitted for each paid registration. Once the initial deferral is purchased, you cannot defer again. If another change is required, you must pay for a new registration.

Choosing and paying for a deferral cancels your registration and scheduled exam appointment (if applicable). It is a binding decision and cannot be changed. Refunds are not available.

The fee to change your scheduled appointment within the exam window is USD 25.

Candidates who register during the early and standard registration period may request a cancellation of their exam within two weeks of payment and will be eligible for a full refund. Candidates registering during the late registration deadline may request a cancellation of their exam within two days of payment and will be eligible for a refund minus the test center administration fees. You must provide a confirmation of your cancellation from Prometric to receive your refund. If you registered during late registration and seek to cancel more than two days after payment, you are not eligible for a refund.

(Available once per paid exam registration.)

Candidates may purchase a USD 350 deferral until the deadline*. Your paid deferral allows you to postpone your exam appointment to the next scheduled exam cycle. For example, if you are currently registered for the June 2024 Level 1 exam, you may defer that registration to the December 2024 cycle by purchasing a new registration for the December 2024 exam cycle.

*Deadline – paid deferrals must be submitted not less than 3-weeks prior to the start of the registered exam cycle, i.e. if the exam cycle begins on 2 June, then you may purchase a deferral until 12 May.

CMT Association contracts with our exam administrator and incurs extra expenses anytime a candidate changes their plans. We pay for your absence from an expected exam and the cost to arrange for seating for a future exam.

If you pay to defer your exam, you need to visit the Prometric website and cancel your appointment there. Once the cancellation is complete, you must proceed to pay for a deferral to the next immediate exam cycle.

Important: Simply canceling the appointment on Prometric does not automatically defer you to the next exam cycle.

You will receive an email containing your registration information for your next exam.

Candidates registered for an exam can find the deferral form Here when it is available for their exam window. You must wait until the deferral form is available for your window to submit your deferral request.

When you purchase the deferral, your registration and scheduled appointment will be cancelled. Purchase of the paid deferral allows you to move your exam appointment to the next scheduled exam window, generally in six months. Once your deferral is processed, you will be registered for the next exam cycle, and you will be able to schedule your exam time with Prometric.

Only one paid deferral is permitted for each paid registration. Once the initial deferral is purchased, you cannot defer again. If another change is required, you must pay for a new registration.

Choosing and paying for a deferral cancels your registration and scheduled exam appointment (if applicable). It is a binding decision and cannot be changed. Refunds are not available.

The fee to change your scheduled appointment within the exam window is USD 25.

• The Level I and II exams are multiple choice and graded by machine. This machine grading is followed by post-exam statistical and psychometric reviews for each exam administration. 

• The Level III exams are graded by CMT charterholders. Grading is based on a uniform answer key for each question. The answer key provides a breakdown of points that candidates earn for both full and partial-credit answers.

Typographical and grammatical errors will not penalize you on the Level III exam. Exams are graded solely on the application of the technical analysis concepts being tested.

For Levels I and II, the passing scores will vary with each exam depending on the set of questions used and how those questions perform. Both before and after each exam, questions are reviewed for accuracy and comprehensibility. After the test is complete the data from all test scores are given a psychometric review. This review process forms the basis for establishing the passing scores. In the past, these exams had a fixed passing score of 70% of possible points. That amount is still a default target for exams, but with the post-exam review process, the actual cut score may vary. This process allows us to more effectively equate the difficulty of the current exam to a relevant benchmark–a past exam or set of exams. This allows us to adjust scores depending on the degree of difficulty of each exam. 

The Level III exam review process takes more time due to the short-answer structure of the questions. The short-answer questions are written by a team of subject matter experts, then reviewed by a second group of subject matter experts. Similarly, each test is graded by two graders working independently. The passing score is then determined by the point distribution of exams taken at that administration. 

There are multiple reasons that the CMT Association does not provide candidates with their actual score:

• The final passing score is based on a rigorous analytical process, thus a passing mark changes from one exam administration to the next. The same numerical score that was a passing mark on one exam may be a failing score on another. The CMT Association recognizes that each exam will not be of the exact same difficulty.
• The CMT Association does not want to create ‘classes’ of CMT charterholders. If candidates were provided with scores, employers may want to hire only the highest scoring candidates.
• The goal of these exams is to learn the material, to pass each level of the exam, and to earn the coveted CMT charter. The association has no mission for creating an incentive for one passing candidate to be recognized as relatively stronger in any way to another passing candidate based on their exam scores.

No. The association’s judgment is final. There is no process for challenging a failing score. The grading process, as previously mentioned, is very thorough. Levels I and II are machine graded, and all Level III exams are carefully reviewed and double-checked. 

All results are actively maintained in the CMT Association database indefinitely. 
 

Reviewing, finalizing and communicating exam results may take up to eight weeks from the end of the testing period. CMT Level I and II results will be emailed to candidates by Prometric. CMT Level III results will arrive in an email from the CMT Association. 

The following graph shows the pass rates for CMT I, CMT II and CMT III exams from the past few exam cycles. 

Plan to arrive 30 minutes before the scheduled appointment to allow for check-in procedures. If you are late arriving, you will not be allowed to test and will forfeit your exam fee. At certain Prometric test center locations, you will need to pay for parking, including cash only parking lots.

Candidates should print a confirmation of their scheduled exam from the Prometric website. This confirmation contains the date and time of the exam, and the address of the test center. A calculator will be available on the computer screen during your exam. Prometric will provide paper and pencils that candidates may use to work through questions while in the test center. CANDIDATES MUST PROVIDE VALID ACCEPTABLE IDENTIFICATION (ID) TO BE ALLOWED TO SIT FOR AN EXAM, WHETHER IN A TEST CENTER OR VIA REMOTE PROCTORING. PLEASE SEE THE NEXT SECTION FOR MORE INFORMATION ABOUT ACCEPTABLE FORMS OF ID.

Candidates are required to present ORIGINAL (not photocopied) UNEXPIRED government-issued, photo- and signature-bearing ID, in English.  Acceptable documents, bearing both photo and signature, are:

• Driver’s License
• State or Government-Issued ID Card
• Passport
• Military ID Card
• India:
  • PAN Card
  • Aadhaar Card, with photograph, will be accepted as primary ID but requires a second form of ID with a signature, as noted below.

If the primary ID presented contains only a photo but no signature, the candidate may present a second form of ID with a signature. Acceptable forms of secondary ID are

• Employee ID
• School ID
• Credit Card

Important: Candidates with expired ID cards or ID cards missing either a photograph or a signature will NOT be allowed to test. Ensure your ID is valid and meets the requirements to avoid being denied entry.

For Test Centers Only: Prometric takes our role of providing a secure test environment seriously. During the check-in process, we inspect any and all eyeglasses, jewelry and other accessories to look for camera devices that could be used to capture exam content. You will be required to remove your eyeglasses for close visual inspection. These inspections will take a few seconds and will be done at check-in and again upon return from breaks before you enter the testing room to ensure you do not violate any security protocol. Jewelry other than wedding and engagement rings is prohibited. Please do not wear other jewelry to the test center. Hair accessories, ties and bowties are subject to inspection. Please refrain from using ornate clips, combs, barrettes, headbands, tie clips, cuff links and other hair accessories as you may be prohibited from wearing them into the testing room and asked to store them in your locker. Violation of security protocol may result in the confiscation of prohibited devices and termination of your exam.

The CMT Level I Exam does not have a scheduled break. You may take an unscheduled break but be aware that the countdown for your exam will continue while on your break.

CMT Level II & III each have a scheduled break of 10 minutes. During the scheduled break, candidates will not be able to go back to Part I of the exam; during additional unscheduled breaks, the countdown of the exam will continue. Each time you leave the test room you must sign out. During your exam break you cannot access your locker or leave the building. Upon return from a break, you must go through all security checks, present valid ID, and sign-in again. If you need to take medication during the exam, please contact the CMT Association at admin@cmtassociation.org  before scheduling your exam. For additional information regarding Prometric’s Test Center Regulations,  please click here.

If you have a special need or require any accommodations, please contact the CMT Association after you register for your exam. Candidates must contact the CMT Association at least fifty (50) days prior to your test date to request special testing arrangements. The CMT Association does not limit testing accommodations only to those who are US citizens or who reside in the US.

You can visit Prometric’s page which outlines this:

Prometric.com/test-takers/what-expect

Plan to arrive 30 minutes before the scheduled appointment to allow for check-in procedures. If you are late arriving, you will not be allowed to test and will forfeit your exam fee. At certain Prometric test center locations, you will need to pay for parking, including cash only parking lots.

Candidates should print a confirmation of their scheduled exam from the Prometric website. This confirmation contains the date and time of the exam, and the address of the test center. A calculator will be available on the computer screen during your exam. Prometric will provide paper and pencils that candidates may use to work through questions while in the test center. CANDIDATES MUST PROVIDE VALID ACCEPTABLE IDENTIFICATION (ID) TO BE ALLOWED TO SIT FOR AN EXAM, WHETHER IN A TEST CENTER OR VIA REMOTE PROCTORING. PLEASE SEE THE NEXT SECTION FOR MORE INFORMATION ABOUT ACCEPTABLE FORMS OF ID.

Candidates are required to present ORIGINAL (not photocopied) UNEXPIRED government-issued, photo- and signature-bearing ID, in English.  Acceptable documents, bearing both photo and signature, are:

• Driver’s License
• State or Government-Issued ID Card
• Passport
• Military ID Card
• India:
  • PAN Card
  • Aadhaar Card, with photograph, will be accepted as primary ID but requires a second form of ID with a signature, as noted below.

If the primary ID presented contains only a photo but no signature, the candidate may present a second form of ID with a signature. Acceptable forms of secondary ID are

• Employee ID
• School ID
• Credit Card

Important: Candidates with expired ID cards or ID cards missing either a photograph or a signature will NOT be allowed to test. Ensure your ID is valid and meets the requirements to avoid being denied entry.

For Test Centers Only: Prometric takes our role of providing a secure test environment seriously. During the check-in process, we inspect any and all eyeglasses, jewelry and other accessories to look for camera devices that could be used to capture exam content. You will be required to remove your eyeglasses for close visual inspection. These inspections will take a few seconds and will be done at check-in and again upon return from breaks before you enter the testing room to ensure you do not violate any security protocol. Jewelry other than wedding and engagement rings is prohibited. Please do not wear other jewelry to the test center. Hair accessories, ties and bowties are subject to inspection. Please refrain from using ornate clips, combs, barrettes, headbands, tie clips, cuff links and other hair accessories as you may be prohibited from wearing them into the testing room and asked to store them in your locker. Violation of security protocol may result in the confiscation of prohibited devices and termination of your exam.

The CMT Level I Exam does not have a scheduled break. You may take an unscheduled break but be aware that the countdown for your exam will continue while on your break.

CMT Level II & III each have a scheduled break of 10 minutes. During the scheduled break, candidates will not be able to go back to Part I of the exam; during additional unscheduled breaks, the countdown of the exam will continue. Each time you leave the test room you must sign out. During your exam break you cannot access your locker or leave the building. Upon return from a break, you must go through all security checks, present valid ID, and sign-in again. If you need to take medication during the exam, please contact the CMT Association at admin@cmtassociation.org  before scheduling your exam. For additional information regarding Prometric’s Test Center Regulations,  please click here.

If you have a special need or require any accommodations, please contact the CMT Association after you register for your exam. Candidates must contact the CMT Association at least fifty (50) days prior to your test date to request special testing arrangements. The CMT Association does not limit testing accommodations only to those who are US citizens or who reside in the US.

You can visit Prometric’s page which outlines this:

Prometric.com/test-takers/what-expect

Plan to arrive 30 minutes before the scheduled appointment to allow for check-in procedures. If you are late arriving, you will not be allowed to test and will forfeit your exam fee. At certain Prometric test center locations, you will need to pay for parking, including cash only parking lots.

Candidates should print a confirmation of their scheduled exam from the Prometric website. This confirmation contains the date and time of the exam, and the address of the test center. A calculator will be available on the computer screen during your exam. Prometric will provide paper and pencils that candidates may use to work through questions while in the test center. CANDIDATES MUST PROVIDE VALID ACCEPTABLE IDENTIFICATION (ID) TO BE ALLOWED TO SIT FOR AN EXAM, WHETHER IN A TEST CENTER OR VIA REMOTE PROCTORING. PLEASE SEE THE NEXT SECTION FOR MORE INFORMATION ABOUT ACCEPTABLE FORMS OF ID.

Candidates are required to present ORIGINAL (not photocopied) UNEXPIRED government-issued, photo- and signature-bearing ID, in English.  Acceptable documents, bearing both photo and signature, are:

• Driver’s License
• State or Government-Issued ID Card
• Passport
• Military ID Card
• India:
  • PAN Card
  • Aadhaar Card, with photograph, will be accepted as primary ID but requires a second form of ID with a signature, as noted below.

If the primary ID presented contains only a photo but no signature, the candidate may present a second form of ID with a signature. Acceptable forms of secondary ID are

• Employee ID
• School ID
• Credit Card

Important: Candidates with expired ID cards or ID cards missing either a photograph or a signature will NOT be allowed to test. Ensure your ID is valid and meets the requirements to avoid being denied entry.

For Test Centers Only: Prometric takes our role of providing a secure test environment seriously. During the check-in process, we inspect any and all eyeglasses, jewelry and other accessories to look for camera devices that could be used to capture exam content. You will be required to remove your eyeglasses for close visual inspection. These inspections will take a few seconds and will be done at check-in and again upon return from breaks before you enter the testing room to ensure you do not violate any security protocol. Jewelry other than wedding and engagement rings is prohibited. Please do not wear other jewelry to the test center. Hair accessories, ties and bowties are subject to inspection. Please refrain from using ornate clips, combs, barrettes, headbands, tie clips, cuff links and other hair accessories as you may be prohibited from wearing them into the testing room and asked to store them in your locker. Violation of security protocol may result in the confiscation of prohibited devices and termination of your exam.

The CMT Level I Exam does not have a scheduled break. You may take an unscheduled break but be aware that the countdown for your exam will continue while on your break.

CMT Level II & III each have a scheduled break of 10 minutes. During the scheduled break, candidates will not be able to go back to Part I of the exam; during additional unscheduled breaks, the countdown of the exam will continue. Each time you leave the test room you must sign out. During your exam break you cannot access your locker or leave the building. Upon return from a break, you must go through all security checks, present valid ID, and sign-in again. If you need to take medication during the exam, please contact the CMT Association at admin@cmtassociation.org  before scheduling your exam. For additional information regarding Prometric’s Test Center Regulations,  please click here.

If you have a special need or require any accommodations, please contact the CMT Association after you register for your exam. Candidates must contact the CMT Association at least fifty (50) days prior to your test date to request special testing arrangements. The CMT Association does not limit testing accommodations only to those who are US citizens or who reside in the US.

You can visit Prometric’s page which outlines this:

Prometric.com/test-takers/what-expect

• Yes, passing the CMT Level I and II exams can replace the Series 86 exam for technical research analysts.  Details are available from FINRA at https://www.finra.org/registration-exams-ce/qualification-exams/exam-waivers-and-exemptions.   

• Find more information on how to apply for a Series 86 exemption on this page.

Yes, you must complete the application for Member Status. Applicants must secure three (3) references, no more than one from your current firm, and complete the membership application to initiate the membership process. Additionally, candidates need to demonstrate three (3) years of acceptable professional experience and identify three (3) referrers who have confirmed they will submit a Sponsor Questionnaire on the applicant’s behalf. You can visit the “Membership Process” FAQ section to learn more. 

Upon being approved for Member Status and granted the CMT designation, you will be mailed your certificate of completion generally within four to six weeks of approval. 

To maintain your status as a CMT charterholder you must be a member of the CMT Association in good standing and abide by the CFA Institute’s Code of Ethics and Standards of Professional Conduct. 

The CMT Association Board of Directors, acting under the advice of the Ethics and Standards Committee, may revoke a Member’s CMT designation for serious violations of the CFA Institute’s Code of Ethics and Standards of Professional Conduct.

Yes, sponsorship contact information is available in the Sponsorship Directory. You must be a member logged in to your Membership Portal to view the list. 

Candidates should consult the Trademark Usage Guide for CMT Charterholders for specific guidance on using the designation and indicating progress in the program. 

• The Level I and II exams are multiple choice and graded by machine. This machine grading is followed by post-exam statistical and psychometric reviews for each exam administration.
• The Level III exams are graded by CMT charterholders. Grading is based on a uniform answer key for each question. The answer key provides a breakdown of points that candidates earn for both full and partial-credit answers.

Typographical and grammatical errors will not penalize you on the Level III exam. Exams are graded solely on the application of the technical analysis concepts being tested.

For Levels I and II, the passing scores will vary with each exam depending on the set of questions used and how those questions perform. Both before and after each exam, questions are reviewed for accuracy and comprehensibility. After the test is complete the data from all test scores are given a psychometric review. This review process forms the basis for establishing the passing scores. In the past, these exams had a fixed passing score of 70% of possible points. That amount is still a default target for exams, but with the post-exam review process, the actual cut score may vary. This process allows us to more effectively equate the difficulty of the current exam to a relevant benchmark–a past exam or set of exams. This allows us to adjust scores depending on the degree of difficulty of each exam.

The Level III exam review process takes more time due to the short-answer structure of the questions. The short-answer questions are written by a team of subject matter experts, then reviewed by a second group of subject matter experts. Similarly, each test is graded by two graders working independently. The passing score is then determined by the point distribution of exams taken at that administration.

There are multiple reasons that the CMT Association does not provide candidates with their actual score:

• The final passing score is based on a rigorous analytical process, thus a passing mark changes from one exam administration to the next. The same numerical score that was a passing mark on one exam may be a failing score on another. The CMT Association recognizes that each exam will not be of the exact same difficulty.
• The CMT Association does not want to create ‘classes’ of CMT charterholders. If candidates were provided with scores, employers may want to hire only the highest scoring candidates.
• The goal of these exams is to learn the material, to pass each level of the exam, and to earn the coveted CMT charter. The association has no mission for creating an incentive for one passing candidate to be recognized as relatively stronger in any way to another passing candidate based on their exam scores.

No. The association’s judgment is final. There is no process for challenging a failing score. The grading process, as previously mentioned, is very thorough. Levels I and II are machine graded, and all Level III exams are carefully reviewed and double-checked.

All results are actively maintained in the CMT Association database indefinitely.

Reviewing, finalizing and communicating exam results may take up to eight weeks from the end of the testing period. CMT Level I and II results will be emailed to candidates by Prometric. CMT Level III results will arrive in an email from the CMT Association.

The following graph shows the pass rates for CMT I, CMT II and CMT III exams from the past few exam cycles. 

• The Level I and II exams are multiple choice and graded by machine. This machine grading is followed by post-exam statistical and psychometric reviews for each exam administration.
• The Level III exams are graded by CMT charterholders. Grading is based on a uniform answer key for each question. The answer key provides a breakdown of points that candidates earn for both full and partial-credit answers.

Typographical and grammatical errors will not penalize you on the Level III exam. Exams are graded solely on the application of the technical analysis concepts being tested.

For Levels I and II, the passing scores will vary with each exam depending on the set of questions used and how those questions perform. Both before and after each exam, questions are reviewed for accuracy and comprehensibility. After the test is complete the data from all test scores are given a psychometric review. This review process forms the basis for establishing the passing scores. In the past, these exams had a fixed passing score of 70% of possible points. That amount is still a default target for exams, but with the post-exam review process, the actual cut score may vary. This process allows us to more effectively equate the difficulty of the current exam to a relevant benchmark–a past exam or set of exams. This allows us to adjust scores depending on the degree of difficulty of each exam.

The Level III exam review process takes more time due to the short-answer structure of the questions. The short-answer questions are written by a team of subject matter experts, then reviewed by a second group of subject matter experts. Similarly, each test is graded by two graders working independently. The passing score is then determined by the point distribution of exams taken at that administration.

There are multiple reasons that the CMT Association does not provide candidates with their actual score:

• The final passing score is based on a rigorous analytical process, thus a passing mark changes from one exam administration to the next. The same numerical score that was a passing mark on one exam may be a failing score on another. The CMT Association recognizes that each exam will not be of the exact same difficulty.
• The CMT Association does not want to create ‘classes’ of CMT charterholders. If candidates were provided with scores, employers may want to hire only the highest scoring candidates.
• The goal of these exams is to learn the material, to pass each level of the exam, and to earn the coveted CMT charter. The association has no mission for creating an incentive for one passing candidate to be recognized as relatively stronger in any way to another passing candidate based on their exam scores.

No. The association’s judgment is final. There is no process for challenging a failing score. The grading process, as previously mentioned, is very thorough. Levels I and II are machine graded, and all Level III exams are carefully reviewed and double-checked.

All results are actively maintained in the CMT Association database indefinitely.

Reviewing, finalizing and communicating exam results may take up to eight weeks from the end of the testing period. CMT Level I and II results will be emailed to candidates by Prometric. CMT Level III results will arrive in an email from the CMT Association.

The following graph shows the pass rates for CMT I, CMT II and CMT III exams from the past few exam cycles. 

• The Level I and II exams are multiple choice and graded by machine. This machine grading is followed by post-exam statistical and psychometric reviews for each exam administration.
• The Level III exams are graded by CMT charterholders. Grading is based on a uniform answer key for each question. The answer key provides a breakdown of points that candidates earn for both full and partial-credit answers.

Typographical and grammatical errors will not penalize you on the Level III exam. Exams are graded solely on the application of the technical analysis concepts being tested.

For Levels I and II, the passing scores will vary with each exam depending on the set of questions used and how those questions perform. Both before and after each exam, questions are reviewed for accuracy and comprehensibility. After the test is complete the data from all test scores are given a psychometric review. This review process forms the basis for establishing the passing scores. In the past, these exams had a fixed passing score of 70% of possible points. That amount is still a default target for exams, but with the post-exam review process, the actual cut score may vary. This process allows us to more effectively equate the difficulty of the current exam to a relevant benchmark–a past exam or set of exams. This allows us to adjust scores depending on the degree of difficulty of each exam.

The Level III exam review process takes more time due to the short-answer structure of the questions. The short-answer questions are written by a team of subject matter experts, then reviewed by a second group of subject matter experts. Similarly, each test is graded by two graders working independently. The passing score is then determined by the point distribution of exams taken at that administration.

There are multiple reasons that the CMT Association does not provide candidates with their actual score:

• The final passing score is based on a rigorous analytical process, thus a passing mark changes from one exam administration to the next. The same numerical score that was a passing mark on one exam may be a failing score on another. The CMT Association recognizes that each exam will not be of the exact same difficulty.
• The CMT Association does not want to create ‘classes’ of CMT charterholders. If candidates were provided with scores, employers may want to hire only the highest scoring candidates.
• The goal of these exams is to learn the material, to pass each level of the exam, and to earn the coveted CMT charter. The association has no mission for creating an incentive for one passing candidate to be recognized as relatively stronger in any way to another passing candidate based on their exam scores.

No. The association’s judgment is final. There is no process for challenging a failing score. The grading process, as previously mentioned, is very thorough. Levels I and II are machine graded, and all Level III exams are carefully reviewed and double-checked.

All results are actively maintained in the CMT Association database indefinitely.

Reviewing, finalizing and communicating exam results may take up to eight weeks from the end of the testing period. CMT Level I and II results will be emailed to candidates by Prometric. CMT Level III results will arrive in an email from the CMT Association.

The following graph shows the pass rates for CMT I, CMT II and CMT III exams from the past few exam cycles. 

Yes, you must be an active Professional Member in order to use the CMT designation. Obtaining Affiliate Membership before passing the Level III exam can speed this process up by presenting an opportunity for your membership to be active before you complete your Professional Membership application and your three references complete sponsorship questionnaires on your behalf. When you submit your application, your sponsors will be notified to complete the questionnaire directly through Submittable via their email addresses that you will have entered as part of your application. If you are not already an active Affiliate Member upon passing the Level III exam, you must still submit your application, which will automatically prompt your sponsors to fill out the questionnaire on your behalf. Be aware that your Professional Membership will not be approved until you have paid the membership fee. 

We highly suggest attending your local chapter meetings to network with Professional Members who can serve as sponsors for your application. Additionally, Affiliate Members of the Association have access to the Membership Directory where they can search for members who are willing to refer you. 

You can also reach out to prospective sponsors on our Discord server: https://cmta.fyi/discord. We have a premium access channel called Sponsorships for this very purpose. 

Your sponsor must be an active Professional Member of the Association in good standing. To view the charterholder or membership status of an individual, you can log in and search the Membership Directory, or you can send an email inquiring about that person’s status to admin@cmtassociation.org. You must contact your sponsors on your own and confirm that they will complete the sponsorship questionnaire on your behalf once they are prompted by Submittable.

No more than one sponsor must be affiliated with your current firm. The Admissions Committee will likely ask that you have another sponsor if you have multiple sponsors from your firm. 

You can check your application status, including the status of your sponsor questionnaires, in Submittable. 

The process to find sponsors can take some time. If you have already exercised the suggestions above, please reach out to admin@cmtassociation.org and we can assist you with finding sponsors.

You don’t need to have had a previous relationship with the candidate. The length of time can simply be “No Prior Relationship.” 

There is not a specific time limit to submit the form, however, we do request that you submit the form as soon as possible so that the application process isn’t delayed. 

All you need to do to be a sponsor is to fill out the sponsorship questionnaire once you are notified to fill it out. The notification will come directly from Submittable 

Unless you are the direct manager of the candidate, you cannot provide a reference for them as a non-member. All referrers other than the direct manager must be Professional Members of the CMT Association and must be in active good standing. 

• Yes, passing the CMT Level I and II exams can replace the Series 86 exam for technical research analysts. Details are available from FINRA at https://www.finra.org/registration-exams-ce/qualification-exams/exam-waivers-and-exemptions. 

Yes, you must complete the application for Member Status. Applicants must secure three (3) references, no more than one from your current firm, and complete the membership application to initiate the membership process. Additionally, candidates need to demonstrate three (3) years of acceptable professional experience and identify three (3) referrers who have confirmed they will submit a Sponsor Questionnaire on the applicant’s behalf. You can visit the “Membership Process” FAQ section to learn more.

Upon being approved for Member Status and granted the CMT designation, you will be mailed your certificate of completion generally within four to six weeks of approval.

To maintain your status as a CMT charterholder you must be a member of the CMT Association in good standing and abide by the CFA Institute’s Code of Ethics and Standards of Professional Conduct.

The CMT Association Board of Directors, acting under the advice of the Ethics and Standards Committee, may revoke a Member’s CMT designation for serious violations of the CFA Institute’s Code of Ethics and Standards of Professional Conduct.

Yes, sponsorship contact information is available in the Sponsorship Directory. You must be a member logged in to your Membership Portal to view the list.

Candidates should consult the Trademark Usage Guide for CMT Charterholders for specific guidance on using the designation and indicating progress in the program.

• Yes, passing the CMT Level I and II exams can replace the Series 86 exam for technical research analysts. Details are available from FINRA at https://www.finra.org/registration-exams-ce/qualification-exams/exam-waivers-and-exemptions. 

Yes, you must complete the application for Member Status. Applicants must secure three (3) references, no more than one from your current firm, and complete the membership application to initiate the membership process. Additionally, candidates need to demonstrate three (3) years of acceptable professional experience and identify three (3) referrers who have confirmed they will submit a Sponsor Questionnaire on the applicant’s behalf. You can visit the “Membership Process” FAQ section to learn more.

Upon being approved for Member Status and granted the CMT designation, you will be mailed your certificate of completion generally within four to six weeks of approval.

To maintain your status as a CMT charterholder you must be a member of the CMT Association in good standing and abide by the CFA Institute’s Code of Ethics and Standards of Professional Conduct.

The CMT Association Board of Directors, acting under the advice of the Ethics and Standards Committee, may revoke a Member’s CMT designation for serious violations of the CFA Institute’s Code of Ethics and Standards of Professional Conduct.

Yes, sponsorship contact information is available in the Sponsorship Directory. You must be a member logged in to your Membership Portal to view the list.

Candidates should consult the Trademark Usage Guide for CMT Charterholders for specific guidance on using the designation and indicating progress in the program.

No, you do not need to be a member of CMT Association to register for the CMT Program.  

Yes, there is a registration fee for each of the exams. Deadlines are announced when registration opens for each test window.

More detailed information HERE

The official CMT Program curriculum is included in the registration fee. 

Scholarships are available for the CMT level 1 exams only to full time students of academic institutions that are part of our Academic Partner Program.   

Only active CFA Charterholders are eligible for the CMT Level I Waiver. 

No. The exemption is only available to those who hold the CFA Charter. Once you obtain the Charter, you will be exempt from the CMT Level 1 Exam. 

Create a login on the CMT website. Once done, email admin@cmtassociation.org with a request to apply the waiver, with your active CFA charter details. CMT Association’s admin team will verify your CFA charter details, enable your login for the waiver, and then email you with a confirmation to proceed with your registration.  

No, the CMT Association does not require its members to obtain any CEU credits in order to retain membership or charterholder status. However, the CMT Association strongly encourages all members to participate in available continuing education opportunities. Most CMT Association events are eligible for CEU credit. You can review our official CEU Credit Guide document here. 

Participants in almost all CMT Association events, from the local chapter level to the international conference level, are eligible to earn CEU credits. The number of credits earned is based on the type of event, and can range from one credit for reading a CMT Association book up to fifteen credits for attending the Annual Symposium. Most events, such as live webinars and chapter meetings, are eligible for a three credit award. Credits are automatically awarded to registered event participants after the completion of the event. 

Members who are logged in to this site can view their CEU credits under the “My Account” tab on the upper right. You can find a breakdown of your earned credits from each event you have registered to attend on your account home page, as well as a total number of your credits year-to-date. 

CEU credits are automatically awarded to all registered event participants after the event has ended. If you believe there’s been a mistake, or if you find yourself attending an event at the last minute without having officially registered, please reach out to admin@cmtassociation.org so that your record can be adjusted to accurately reflect your participation. 

You can self-report CEU credits you may have earned through other continuing education opportunities using the “Self-Report CEU Credits” form in the “My Account” section of this website. 

All CMT Association members are required to submit an annual Professional Conduct Statement (PCS) as a part of the membership renewal process. The PCS is an opportunity to self-report events or investigations that might cause an individual to be in violation of the Code and Standards. This allows our members to maintain a high degree of professional transparency surrounding the CMT designation. 

To view the charterholder or membership status of an individual, you can log in and search the Membership Directory, or you can send an email inquiring about that person’s status to admin@cmtassociation.org. 

First, please carefully review our Ethics page. Then, you may choose to report the member in question to our Ethics and Standards Committee, which handles all such complaints that arise within the CMT Association. You can file a report by following the instructions on the Reporting Misconduct page, or by filling out this form.