The Market Technicians Association is a non-profit organization, based in New York which awards the Certified Market Technicians. This global professional organization’s certification exam is considered the gold standard for technical analysis. Its in-depth focus on technical analysis methods and strong emphasis on ethics makes it the exam for analysts and those interested in technical analysis
The program consists of three levels of exams testing the student’s competency at each level. The exams are cumulative in scope. The first two levels are multiple choice exams. The third level is an essay exam.
The objectives of the CMT Program are:
- To guide candidates in mastering a professional body of knowledge and in developing analytical skills;
- To promote and encourage the highest standards of education; and
- To grant the right to use the professional designation of Chartered Market Technician (CMT) to those members who successfully complete the program and agree to abide by the MTA Code of Ethics.
The following are requirements that must be met by all CMT Program candidates:
The CMT candidate is required to be either an MTA Member or MTA Affiliate continuously (dues paid) throughout the CMT process, and must agree to abide by the MTA Code of Ethics.
While MTA Affiliates may enroll in and successfully complete the CMT Program, only full Members of the MTA will be awarded and permitted to use the CMT designation. Continuous MTA membership, upholding the MTA Code of Ethics, and such other requirements, as determined, from time to time, by the MTA Board of Directors.
Registration and Exam Fees
The CMT Program Registration Fee is $250. This non-refundable fee is valid for five years, within which the candidate has to complete the exam.
- The Level 1 Exam Fee is $250.
- The Level 2 Exam Fee is $450
- The Level 3 Exam Fee is $450
Level 1: The Level 1 exam measures basic, entry-level competence and understanding on the part of the candidate. The candidate needs to have a working knowledge of the basic tools of the technical analyst.
This 2 hour exam is a multiple choice and computerized.
Level 2: The Level 2 exam requires the candidate to demonstrate a greater depth of competency in a variety of fields of expertise. The candidate is expected to demonstrate proficiency in applying more advanced analytical techniques. This hour exam is also computerize and multiple choice.
Level 3 Integration: The Level 3 exam requires the candidate to take an essay exam. The Level 3 exam will test the candidate on the formation of well thought-out research opinions, portfolio strategies or trading decisions based on a wide range of charts and technical data. This exam is 4 hours long and is in the type written, computerized format.
Exam dates: Exams for all 3 levels are administered twice a year in the Spring and in the Fall.
Time Frame for CMT Program: The candidate has five (5) years from the date of registration in the CMT Program to complete all three (3) levels of the CMT. Notification will be sent regarding the 5 year completion date. Candidates may take only one exam per test administration. Level 1 and 2 exams are machine graded by Prometric to ensure that exam questions fairly test candidates on the subject matter.
Level 3 exams are graded by experienced CMT charter holders typically including textbook authors, MTA board members and subject matter experts. A uniform answer key is used for grading each question . The answer key also indicates the information which must be contained in candidates’ questions and how many points each part of a question is worth.
According to technicalsalaryguide.com, a CMT average pay would look like this:
- The average Chartered Market Technician Salary 2011 is $28,000-30,000.
- The minimum salary for these technicians is approximately $24,000 per year. The minimum bonus offered to them is under $200. This salary level is for people newly entering this field.
- The maximum salary that a Chartered Market Technician can make in a year is $66,590. The maximum bonus is usually around $2500.
The CMT program is undoubtedly of great value to technical analysts, but it is also useful to those who would like to deepen their understanding of technical evaluation. The CFA program for example covers the basics of technical analysis, the CMT deepens that.
If you would like more information about the CMT certification you could use this link: