Chartered Market Technician (CMT)

CMT (USA)
The Chartered Market Technician (CMT) Program requires candidates to demonstrate proficiency in a broad range of topics in the field of Technical Analysis. The Program consists of three levels. The CMT Level I and CMT Level II exams are multiple choice while CMT Level III exam is in short answer and essay form. The objectives of the CMT Program are: To professionalize the field of Technical Analysis To promote high ethical and professional standards To guide candidates in mastering a professional body of knowledge Those candidates who successfully complete all three levels of the CMT examination and agree to abide by the MTA Code of Ethics are granted the right to use the CMT credential.

Value of CMT Designation

The CMT designation demonstrates to clients and potential clients, employers and potential employers, and your colleagues and peers that you are a professional in the field of Technical Analysis. Successful completion of the CMT Level I and CMT Level II exams provides a significant step towards attaining the Registered Research Analyst (Series 86) from FINRA. The CMT designation allows you to separate yourself from other professionals in you industry. It is a perfect compliment to your fundamental knowledge of the financial industry.

Requirement for CMT Designation

Successful completion of all three (3) levels of the CMT Exam. Obtained 'Member Status' in the MTA. Have been gainfully employed in a professional analytical or investment management capacity for a minimum period of three (3) years and must be regularly engaged in this capacity at the time of successfully passing all three (3) levels of the CMT Exam. The MTA headquarter staff has worked with the Admissions Committee and select MTA volunteers to create a document that explains the process, responsibilities, and most importantly the benefits of not only being a Member candidate but also for those willing to be sponsors.

Examination for CMT(USA)

Level 1 Exam time length: 2 hours, 15 minutes Exam format: Multiple Choice (132 multiple-choice items with a focus on definition) Level 2 Exam time length: 4 hours, 15 minutes Exam format: Multiple Choice (170 multiple-choice items with a focus on application) Level 3 Exam time length: 4 hours Exam format: Essay (an essay examination with a focus on integration) Points: 230

Specification of Exams
CMT Level 1 (Definition). The Level 1 examination measures basic, entry-level competence and understanding of the candidate. The CMT Level 1 candidate needs to have a working knowledge of the basic tools of the technical analyst. CMT Level 2 (Definition/Application). The CMT Level 2 examination requires the candidate to demonstrate a greater depth of analysis and competency. The CMT Level 2 candidate is expected to demonstrate proficiency in applying more advanced analytical techniques. Overall, the candidate is responsible for the theory and application of concepts and techniques. CMT Level 3 (Integration). The CMT Level 3 examination 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 CMT 3 candidate must pass the ethics portion of this exam or risk failure.

CMT Level I Specification

CONTENT AREAS Theory and History PERCENTAGE 10% QUESTIONS (+/- 2) 12

Markets
Market Indicators Construction Trend Analysis

3%
13% 15% 15%

3
16 18 18

Chart and Pattern Analysis

Confirmation Cycles Selection and Decision System Testing Money Management Ethics TOTAL

18%
10% 4% 5% 4% 3% 100%

22
12 5 6 4 4 120

120 Operational Items (12 Pretest Items): Total Items: 132 per exam form

CMT Level II Specification

CONTENT AREAS Theory and History PERCENTAGE 3% QUESTIONS (+/- 2) 4

Market Indicators
Construction Trend Analysis Chart and Pattern Analysis Confirmation Cycles Selection and Decision System Testing Money Management Ethics TOTAL

5%
1% 20% 23% 15% 3% 17% 10% 3% 100%

7
1 30 35 23 4 26 15 5 150

150 Operational Items (20 Pretest Items): Total Items: 170 per exam form

CMT Level III Specification

The CMT Level 3 Examination is a four-hour essay examination that consists of independent questions worth a total of 240 points. These questions have sub-questions within them. Therefore one question may have several parts which call for independent analysis linking that analysis to well supported conclusions. The primary focus of the Level 3 exam is the practical and ethical application and integration of technical analysis. In other words, all past requirements and background knowledge will be tested in an application format. All candidates must pass and achieve at least a 70% score on ethics. A candidate will not achieve a pass for the CMT 3 exam unless or until the ethics portion of the exam is passed. Based on information provided by MTA, the point system is predicated on the curriculum and objectives of the Level 3 exam. The Test Specifications Committee did not assign specific percentages to the knowledge domains; however, the Committee members did discuss the potential test focus in terms of a loose ranking of the knowledge domains from major focus to minor focus. At the present time, Prometric is involved with the administration, but is not involved with scoring of the CMT Level 3 Examination.

Continue Education for CMT

CE Credits Breakdown The following is a breakdown of various member services and the credits you receive for participating in them: Attend the Annual Symposium - 15 Credits Attend a Regional Seminar - 10 Credits Have an article published in the Journal ofTechnical Analysis - 7 Credits Present at an MTA Event - 5 Credits Attend a College Colloquium - 5 Credits Code of Ethics refresher webcast - 3 Credits Attend a Chapter Meeting - 3 Credits Have an article published in Technically Speaking - 3 Credits Attend a live webcast - 2 Credits Watch an archived webcast/event - 1 Credits Listen to an archived podcast - 1 Credits Member satisfy at least 15 credit points

Exam Dates & Fees Structure

CMT Program and Exam Fees
Please note: CMT Program fees do not include the cost of annual MTA dues of $300 USD. The CMT Program registration fee must be paid when registering into the CMT Program for the first time. All subsequent fees shall be paid upon registration for each exam. CMT Program registration fee: $250.00 USD CMT Level 1 Exam fee: $250.00 USD CMT Level 2 Exam fee: $450.00 USD CMT Level 3 Exam fee: $450.00 USD

CMT Program Registration Fee and Exam fees are notrefundable

Exam Dates are available on May & OCT every year Exam time length: 2 hours, 15 minutes Exam format: Multiple Choice

Suggested Reading For CMT Level I

1) MTA Code of Ethics (attached at the end of this document) 2) Technical Analysis of Stock Trends, 9th Edition by Edwards, Robert D., 3) The Complete Resource for Financial Market Technicians 2nd Edition by Kirkpatrick, Charles D. and Dahlquist 4) Technical Analysis Explained, 4th Edition, by martin j Pring 5) The Definitive Guide to Point and Figure 2nd Edition, by du Plessis, Jeremy

Suggested Reading For CMT Level II

1) Suggested reading of CMT level I 2) Elliott Wave Principle, 10th Edition by Frost, A.J. and Prechter, Robert R 3) New Trading Systems and Methods, 4th Edition, Kaufman, Perry J. 4) Japanese Candlestick Charting Techniques, 2nd Edition, Nison, Steve 5) Investment Psychology Explained, by martin Pring 6) Technically Speaking by Excerpt from: Wilkinson,

Suggested Reading For CMT Level III

1) Suggested reading of CMT level I 2) Suggested Reading of CMT Level II 3) Technical Analysis for the Trading Professional 2 nd Edition, Brown, Constance M 4) Behavioural Investing: A Practitioners Guide to Applying Behavioural Finance by James 5) Trading with Intermarket Analysis: A Visual Approach to Beating the Financial Markets Using ExchangeTraded Funds by john Murphy

Thanks You