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Frequently asked questions
The official CMT Curriculum, which gets updated every year.
No. Not ALL the material in the required readings is covered in the exams. Each level of the CMT exam 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 the CMT website on each Level I, II and III page. These are not meant as study guides; instead, they are offered to acquaint you with the style and format of the exams. These are similar to past CMT exams. YUBHA offers 'Practice Question Papers' & conducts an 'Internal Live Test' in its CMT Prep-Courses, to help simulate exam conditions and questions.
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. At YUBHA, we make sure you dwell deeper into concepts introduced in the curriculum & have a better understanding of the same. We offer the best of the resources for ALL Levels of CMT exam preparation.
CMT Association is a credentialing and advocacy body. They do not offer investment management or investment advisory services of any kind.
There are no formal requirements to sit for the CMT Exams, although they generally recommend that candidates have a university degree and experience working in the financial markets using technical analysis before attempting the exams.
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 visit the OFAC Compliance page.
The CMT Exams are given twice a year, in June and December. The dates for the next exam administration appear on each individual test level page.
The June 2023 exam administration for CMT Level I and Level II will be June 1 – 12, 2023. The CMT Level III exam will be administered on June 5, 2023.
As of January 2019, the CMT Association has discontinued its membership requirement for CMT candidates. You may still choose to become an affiliate member before enrolling in the CMT Program, but it is no longer required. However, member pricing for the exams differs from nonmember pricing. 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, buy the curriculum, and schedule with Prometric.
The CMT exam is administered globally at Prometric testing centers (their 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. We, at YUBHA, suggest our students to give a centre-based exams only, due to all the possible technical glitches & hassles one may face in the online/home proctor exam.
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 can 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.
No. Deferment is not an option.
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 and will be eligible for a full refund within two weeks of payment. Candidates registering during the late registration deadline may request a cancellation of their exam and will be eligible for a refund minus the test center administration fees within two days of payment. 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.
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 totalling 240 points. Candidates should use the point allocation of each question as guidance for time management.
Level I – primarily definition & recognition – 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 the CMT question bank. There are 12 pretest items in the Level I exam and 20 pretest items in the Level II exam. They 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.
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 individually. YUBHA is the Participating Prep Provider of the CMT Association. YUBHA offers preparation courses for all exam levels, checkout: COURSES | YUBHA.
Yes, YUBHA runs an online community of CMT candidates, over a discord server. Join now: Discord
It is said that CMT exams are designed to be self-study, but we don't agree with this. We've had first-hand experience + trained over 100s of CMT candidates + spoken with over 500s of candidates, who believe & accept the fact that comprehensive teaching, help & support is a must. From a learning perspective, understanding the CMT curriculum through reading, & understanding the perspective of someone who has over 15 years of experience + has cleared all levels of the CMT exam, has an enormous amount of difference.
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 are late in 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 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 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.
What constitutes a valid form of ID?
Candidates are expected 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
India: 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
For US 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 outside of 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 now 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.