CMT
PROGRAM
GUIDE
2025
CMT Association, Inc
115 Broadway, New York 10006 | 264 Dr Annie Besant Road, Mumbai 400025
+1-646-652-3300
[email protected]www.cmtassociation.org
© 2024 CMT Association, Inc.
CHARTERED MARKET TECHNICIAN
PROGRAM
CMT Level I
Foundational Principles of Technical Analysis
Core Concepts and Underlying Theories and Terminology | The Tools and Methods Used in
Technical Analysis.
40 to 100 hours
Format – 132 Multiple Choice Question
Exam Duration – 2 Hours
CMT Level II
Application of Technical Analysis Methods
Application of the Concepts, Tools, and Methods of Technical Analysis to Identify Opportunities
and Manage Risk.
100 to 140 hours
Format – 170 Multiple Choice Question
Exam Duration – 4 Hours
CMT Level III
The Work of a Technical Analyst
Integrating Concepts and Tools into Methods for Analyzing Market Action and Managing
Positions and Risk.
120 to 160 hours
Format – Multiple Choice Question & Short Answers
Exam Duration – 4 Hours
KNOWLEDGE DOMAINS BREAKDOWN
95.00%
5.00%
Level III
Knowledge Domains
10.00%
3.00%
Level II
7.00%
40.00%
40.00%
3.00%
Level I
38.00%
33.00%
26.00%
0.00% 20.00% 40.00% 60.00% 80.00% 100.00%
Level I Level II Level III
Application of Technical Analysis 10.00% 95.00%
Ethics 3.00% 3.00% 5.00%
Theory and History 38.00% 7.00%
Classical Techniques 33.00% 40.00%
Advanced Techniques 26.00% 40.00%
To my fellow finance professionals who
One of the best decisions I ever made want to sharpen their sword, check out
was pursuing my CMT designation. the CMT program... it's one of the best
Consider it! things I ever did for my career - and
more importantly, my clients.
Gina Martin Adams, CMT, CFA
Chief Equity Strategist
Adam Koos, CMT, CFP, CEPA
Founder, Libertas Wealth Management Group, Inc |
Bloomberg Intelligence ELEVATE | Asbury Research | ADRENALINE Advisor
Consulting
CMT LEVEL I
2025
Foundational Principles of Technical Analysis
Core Concepts and Underlying Theories and Terminology
The Tools and Methods Used in Technical Analysis
CMT LEVEL I
Foundational Principles of Technical Analysis
Core Concepts and Underlying Theories and Terminology | The Tools and Methods Used in Technical Analysis
I. Theory and History
i. Evolution of Technical Analysis
ii. Key Concepts in Technical Analysis and Market Analysis
iii. Behavioral Finance
II. Classical Techniques
i. Chart Types and Construction
ii. Trend Analysis
iii. Chart Pattern Analysis
iv. Internal and External Technical Indicators
v. Cycles
III. Advanced Techniques
i. Statistical Analysis
ii. Volatility Analysis
iii. Systematic Trading
iv. Cross-asset Analysis
v. Principles of Risk Management
IV. Ethics
Important points to note
• The CMT Level I exam tests introductory concepts and definitions in technical analysis.
• The actual exam consists of 132 multiple-choice questions of which 120 are scored items. The remaining 12 questions
are under trial for future use.
• Candidates have two hours to complete the 132 questions on the exam.
• The exam is delivered on a computer in Prometric testing facilities, or through Prometric’s ProProctor remote-proctoring
service. Please be sure to schedule your Ethics
exam well in advance. 3%
• Questions on the Code of Ethics and
Advanced
Standards of Professional Conduct
Techniques
appear on all three levels of the CMT 26% Theory and
exams. The Standards of Practice History
Handbook is a valuable study guide for 38%
the Code and Standards. Please use
those documents as ethics are not
otherwise included in the CMT Program
textbooks.
• The CMT Association maintains a
discussion forum for CMT candidates.
Candidates are encouraged to utilize this
Classical
resource to discuss and clarify their Techniques
understanding of the subject matter. 33%
KNOWLEDGE DOMAINS BREAKDOWN
CMT LEVEL II
2025
Application of Technical Analysis Methods
Application of the Concepts, Tools, And Methods of Technical Analysis To Identify
Opportunities And Manage Risk
CMT LEVEL II
Application of Technical Analysis Methods
Application of the Concepts, Tools, And Methods Of Technical Analysis To Identify Opportunities And Manage Risk
I. Theory and History
i. Evolution of Technical Analysis
ii. Key Concepts in Technical Analysis and Market Analysis
iii. Behavioral Finance
II. Classical Techniques
i. Chart Types and Construction
ii. Trend Analysis
iii. Chart Pattern Analysis
iv. Internal and External Technical Indicators
v. Cycles
III. Advanced Techniques
i. Statistical Analysis
ii. Volatility Analysis
iii. Systematic Trading
iv. Cross-asset Analysis
v. Principles of Risk Management
IV. Application of Technical Analysis
i. Analyze and interpret charts for entries and exits using classical charts, patterns, and
indicators.
ii. Develop plans to address risk using, e.g., technical, behavioral, quantitative analysis,
leverage.
iii. Analyze the output from models to determine their suitability for implementation.
iv. Establish weighting of assets and securities using, e.g., relative strength, trend,
momentum.
v. Integrate volatility measures into price forecasting and trade management.
V. Ethics
Important points to note
• The CMT Level II exam tests on the theory and analysis of applied technical analysis.
• The actual exam consists of 170 multiple-choice questions of which 150 are scored items. The remaining 20 questions
are under trial for future use.
• Candidates have four hours to complete the 170 questions on the exam.
• The exam is delivered on a computer in Prometric Application Theory and
testing facilities, or through Prometric’s Ethics
of Technical History
ProProctor remote-proctoring service. Please be Analysis
sure to schedule your exam well in advance.
• Questions on the Code of Ethics and Standards
of Professional Conduct appear on all three
levels of the CMT exams. The Standards of
Practice Handbook is a valuable study guide for
the Code and Standards. Please use those Classical
Techniques
documents as ethics are not otherwise included
in the CMT Program textbooks. Advanced
• The CMT Association maintains a discussion Techniques
forum for CMT candidates. Candidates are
encouraged to utilize this resource to discuss and
clarify their understanding of the subject matter. KNOWLEDGE DOMAINS BREAKDOWN
CMT LEVEL III
2025
The Work of a Technical Analyst
Integrating Concepts and Tools into Methods for Analyzing Market Action and Managing
Positions and Risk
CMT LEVEL III
The Work of a Technical Analyst
Integrating Concepts and Tools into Methods for Analyzing Market Action and Managing Positions and Risk
I. Application of Technical Analysis
i. Analyze and interpret charts for entries and exits using
classical charts, patterns, and indicators.
ii. Develop plans to address risk using, e.g., technical,
behavioral, quantitative analysis, and leverage.
iii. Analyze the output from models to determine their
suitability for implementation.
iv. Establish weighting of assets and securities using,
e.g., relative strength, trend, momentum.
v. Integrate volatility measures into price forecasting
and trade management.
II. Ethics
Important points to note
• The CMT Level III exam tests the candidate’s ability to integrate a wide range of concepts and tools into the application
of technical analysis.
• The Level III exam is organized into groups, most of which weave together two or more knowledge domains. In turn,
each of those groups contains from three to seven items requiring a response. Some items will be multiple choice; most
will be short answer and require that you make a list, state and justify your analysis, or supply a similar written response.
• Candidates have four hours to complete the exam.
• The exam is delivered on a computer in Prometric testing facilities, or through Prometric’s ProProctor remote-proctoring
service. Please be sure to schedule your exam well in
advance. Ethics
• Questions on the Code of Ethics and Standards of
Professional Conduct appear on all three levels of the
CMT exams. The Standards of Practice Handbook is a
valuable study guide for the Code and Standards. Please
use those documents as ethics are not otherwise included
in the CMT Program textbooks.
• The CMT Association maintains a discussion forum for
CMT candidates. Candidates are encouraged to utilize Application
this resource to discuss and clarify their understanding of of Technical
the subject matter. Analysis
KNOWLEDGE DOMAINS BREAKDOWN
CMT PROGRAM GUIDE 2025
© 2024 CMT Association Inc.
115 Broadway, New York 10006 | 264 Dr Annie Besant Road, Mumbai 400025
+1-646-652-3300 | [email protected] | www.cmtassociation.org
© 2024 CMT Association, Inc.
