CMT Level I 2017

Exam length: 2 hours

Exam format: Multiple Choice
Number of questions: 132 (15 unscored)
Exam date: Spring and Fall
Estimated passing score: Not disclosed
Number of multiple choice questions: 1080 (9 exams)
2 CMT Level I 2017

What is the CMT Program?

What is the CMT Program?
The Chartered Market Technician (CMT) Program is a certification process in which
candidates are required to demonstrate proficiency in a broad range of technical
analysis subjects. Administered by the Market Technicians Association
(www.mta.org), the main objectives of the CMT Program are:
To guide candidates in mastering a professional body of knowledge and in devel-
oping analytical skills.
To promote and encourage the highest standards of education.
To grant the right to use the professional designation of Chartered Market Tech-
nician (CMT) to those members who successfully complete the Program and
agree to abide by the MTA Code of Ethics.

When and where is the exam held?

CMT Exam Levels I, II, and III are given twice a year, in April/May and October. The
CMT exam is administered all over the world at Prometric testing centers.

What are the CMT Program and Exam fees?

The CMT Program requires a onetime enrollment fee of $250 USD. All subsequent
fees shall be paid upon registration for each exam:
MTA Membership fee: $300.00 USD
CMT Program registration fee: $250.00 USD
Level I exam fee: $250.00 USD
Level II exam fee: $450.00 USD
Level III exam fee: $450.00 USD

What is the length and format of the three levels?

The CMT Program requires a onetime enrollment fee of $250 USD. All subsequent
fees shall be paid upon registration for each exam:
Level I: 2 hours and 132 Multiple Choice questions (12 unscored).
Level II: 4 hours and 170 Multiple Choice questions (20 unscored).
Level III: 4 hours and Essay questions totaling 240 points.

How are the exams graded?

The Level I and II exams are multiple choice and machine graded. The Level III ex-
ams are graded by CMT charterholders. Grading is based on a uniform answer key
for each question.

Do typographical and grammatical errors affect your Level III score?

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 be-
ing tested. We encourage candidates to answer questions using short phrases or
bullet points where appropriate. Graders are aware that English might not be the
candidates first or primary language.

What is the passing score for each level of the exam?

The MTA goes through a rigorous standard setting process to determine the pass-
ing score. This can fluctuate from exam to exam, and for these reasons the passing
score is not disclosed.

When are exam results released?

The results for the CMT Level I and II exams are issued upon completion or exiting
the exams. CMT Level III exam results require a manual grading process and there-
fore generally are made available within approximately six to eight weeks of the
exam date.
3 CMT Level I 2017

Study Material: Practice Exams.

Financer Trading Practice Exams book is the perfect complement to the Official Cur-
riculum (John Wiley & Sons) established by the MTA for CMT Level 1. Financer Train-
ing offers 9 complete exams with 1080 multiple choice questions with a similar or
higher level of difficulty as the one you will face on the day of the test. Financer Train-
ing Study material is the perfect partner to pass CMT level I.

Practice Exams.
475 pages.
1080 multiple choice questions (9 practice exams).
All questions include detailed answers.

How can I buy Financer Training Study Material?

Financer Training offer CMT candidates two methods of payment: bank wire or paypal.
If you are interested in paying by bank wire, the banking account data can be found in
our website (www.financertraining.com), where you can also find the Paypal buttons
to pay with your credit card.

Price and format of Financer Training Study Material.

Financer Training Practice Exams can be bought as a printed (hard copy version) or as
an electronic or digital version. The electronic version is offered in an encrypted PDF
format. The candidate will need to use the free software Prot-On (www.prot-on.com) to
open the PDF files. Note that the digital version is nonprintable. The prices that you
see in this brochure as well as in our website (www.financertraining.com) include VAT
and delivery costs for the printed version.

Practice Exams Printed Version 312 (VAT and Delivery Costs included).
Practice Exams Digital Version 260 (VAT included).
4 CMT Level I 2017

Study Material electronic (digital) version.

What is Prot-On software?
Prot-On is an application that ensures the files you send by email, upload to the
cloud or share on social networks can only be accessed by authorized users. There-
fore, Prot-On is encryption software.

What is the Prot-On URL?

https://www.prot-on.com

How much does Prot-On software cost?

Prot-On is free software.

What do I need Prot-On software for?

If you have bought any digital Financer Training course, you will receive the study
material in PDF format. In order to open these files, you will need to be a Prot-On
registered user. Registration is free and it must be made with the same email ad-
dress in which you have received the Financer Training PDF files.
Registration can be made using the invitation Prot-On email that you receive when
you buy a digital Financer Training course, or just entering the Prot-On site directly.
In any of these registration methods, do not forget using the same email address in
which you have received the Financer Training PDF files, and to keep your user and
password for future usage of Prot-On software.
Once you are a registered Prot-On user you have two ways to open Financer Train-
ing PDF files: first one is just installing the Prot-On software in your computer, and
second one is employing a simple process of drag-and-drop taking the PDF file and
dropping it into the Prot-On Drag and Drop section. Both options are explained in
full detail in the Prot-On website.

If I am already a Prot-On registered user, do I need to register again?

If you are already a registered user, you do not have to register again. Once you are
registered, keep your user and password for future protected documents.

Can I open the CMT study material offline?

Yes. As we illustrated in a previous answer, there are two ways to open the PDF
files. The most straightforward option is just saving the document and then drag
and drop the PDF file into the Drag 'n' Drop website section (there is a tutorial in
the site with a step by step explanation). Clearly, under this option we must be
online.
The second option is based on installing Prot-On software in our computer. Once it
has been installed and activated with our user and password, we could open the
PDF files even if we are offline. Every time we open a PDF file offline, we have a full
month to access the study material till the next time we open the study material
online. Once we open again the files online, time is restarted again and we have
another full month of offline studying.

How much time do I have to access the CMT study material?

You can open the CMT study material for an unlimited period of time. Once you buy
and download the Financer Training course, the PDF file could be opened with your
Prot-On user and password forever.

Can I open the study material PDF files without using Prot-On?
No. PDFs are encrypted and they can only be opened using Prot-On.

Can I print the PDF files?

No, the PDF files are nonprintable. If you prefer to read the information in a tradi-
tional way, we recommend you to buy the printed version.
5 CMT Level I 2017

CMT level I Topics & Question Weightings

Topic 1. Theory and History. 9% 11 questions
Topic 2. Markets. 5% 6 questions
Topic 3. Market Indicators. 7% 9 questions
Topic 4. Construction. 5% 6 questions
Topic 5. Trend Analysis. 16% 18 questions
Topic 6. Chart & Pattern Analysis. 23% 28 questions
Topic 7. Confirmation. 3% 4 questions
Topic 8. Cycles. 5% 6 questions
Topic 9. Selection and Decision. 13% 15 questions
Topic 10. System Testing. 5% 6 questions
Topic 11. Statistical Analysis. 6% 7 questions
Topic 12. Ethics. 3% 4 questions
100% 120 questions

CMT Level I Exam Reading Assignments:

Charles Kirkpatrick and Julie Dahlquist, Technical Analysis: The Complete Resource for Financial
Market Technicians, 3rd Edition (Old Tappan, New Jersey: Pearson Education, Inc., 2016)

Edwin J. Elton, Martin J. Gruber, Stephen J. Brown, and William N. Goetzmann, Modern Portfolio
Theory and Investment Analysis, 9th Edition (Hoboken, New Jersey: John Wiley & Sons, 2014)

Alexander Elder, The New Trading for a Living (Hoboken, New Jersey: John Wiley & Sons, 2014)

Perry J. Kaufman, Trading Systems and Methods, 5th edition (Hoboken, NJ: John Wiley & Sons,
2013)

Andrew Lo and Jasmina Hasanhodzic, The Evolution of Technical Analysis: Prediction from Babyloni-
an Tablets to Bloomberg Terminals (Hoboken, New Jersey: John Wiley & Sons, 2010)

David Aronson, Evidence-Based Technical Analysis (Hoboken, New Jersey: John Wiley & Sons,
2006)

David Wilson, Visual Guide to Financial Markets (Hoboken, New Jersey: John Wiley & Sons, 2012)

Russell Rhoads, Trading VIX Derivatives: Trading and Hedging Using VIX Futures, Options, and Ex-
change Traded Notes (Hoboken, New Jersey: John Wiley & Sons, 2007)

Ned Davis, Being Right or Making Money (Hoboken, New Jersey: John Wiley & Sons, 2014)

Edwin Burton and Sunit Shah, Behavioral Finance (Hoboken, New Jersey: John Wiley & Sons, 2013)

Wayne Gorman, Jeffrey Kennedy, and Robert Prechter, Visual Guide to Elliott Wave Trading
(Hoboken, New Jersey: John Wiley & Sons, 2013)

Standards of Practice Handbook, 11th edition. CFA Institute. 2014. (279 pages).

Robert Levy, Relative Strength as a Criterion for Investment Selection (The Journal of Finance 22,
Issue 4, 1967)
6 CMT Level I 2017

What do CMT candidates say about our Study Material?

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own experience was good as the manuals are based entirely on the CMT reading as-
signments but are worked in a format that divides them in theme blocks; in each
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to cover the topic in full; and this makes the material much easier to focus and follow
rather than being jumping from one chapter to another from the all different books.
Each block includes an exam at the end, with the entire past exam questions and a lot
new more; it proves your understanding of the topic and provides you with the practice
for the exam.
A great package for a successful preparation in terms of the manuals and the tutor
Alexey, as he had prepared all the material and is already a CMT charterholder, hence
he shares his experience as part of the preparation process.
On my exam all the questions-topics were covered on Alexeys Study Notes; and all my
doubts during the preparation were answered by him quickly. A great tutor that enjoys
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CMT, EFA

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CFA, CMT, CIIA, CAIA, FRM

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CFA

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7 CMT Level I 2017

What do CMT candidates say about our Study Notes?

Alexey De La Lomas study notes and practice exams for the CMT certification is
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The practice exams books are very relevant and they highly reinforce the material cov-
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ested in gaining proficiency in T.A., its history and applicability.
Prop trader/market maker for UKs largest prop trading firm

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Passed CMT Level One in October 2014.

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 8 CMT Level I 2016

Alexey De La Loma Jimnez

CFA, CAIA, CMT, EFA, FRM, CFTe

Academic Education.
Degree in Mathematics in process. UNED. Expected in 2019.
DEA in Applied Statistics in Business and Economics. UNED. 2012.
alexey@alexeydelaloma.com Degree in Business Administration. University Carlos III de Madrid. 1997.
Degree in Economics. University Carlos III de Madrid. 1995.

Financial Certifications.
CFTe. Certified Financial Technician. 2015.
CFA. Chartered Financial Analyst. 2013.
FRM. Financial Risk Manager. 2008.
CAIA. Chartered Alternative Investment Analyst. 2008.
EFA. European Financial Advisor. 2008.
CMT. Chartered Market Technician. 2007.

Professional Experience.
From 2001, he has been trading for his own account as a prop trader, and he is
an expert in trading systems, money management algorithms, and technical
analysis. He is currently teaching at some universities and business schools as:
Universidad San Pablo CEU, Universidad Abat Oliba, URJC, IEB, FEF, MEC, and
he also teaches some in-company courses
He started his career in international companies as CLH, Arthur Andersen, Ban-
co de Santander and IBM, with broad international experience (Great Britain,
Italy, Portugal, Chile, Peru, Argentina, and Saudi Arabia).

Training Experience.
Universidad CEU San Pablo (Madrid).
Universidad Rey Juan Carlos (Madrid).
Instituto de Estudios Burstiles (Madrid).
Fundacin de Estudios Financieros (Madrid).
Universidad CEU Abat Oliba (Barcelona).
Money Experts Club (Riyadh).
In-Company Courses: banco Santander, Bankia, R&B PropTraders, Sanabil In-
vestments, XTB, Sistemas Informticos Atlas, etc.
 9 CMT Level I 2017

TOPIC 1. THEORY AND HISTORY. TOPIC 5. TREND ANALYSIS. TOPIC 9. SELECTION AND DECISION.
.. .. ..

1.1. Questions. 5.1. Questions. 9.1. Questions.

1.2. Answers. 5.2. Answers. 9.2. Answers.

TOPIC 2. MARKETS. TOPIC 6. CHART AND PATTERN ANALYSIS. TOPIC 10. SYSTEM TESTING.
.. .. ..

2.1. Questions. 6.1. Questions. 10.1. Questions.

2.2. Answers. 6.2. Answers. 10.2. Answers.

TOPIC 3. MARKET INDICATORS. TOPIC 7. CONFIRMATION. TOPIC 11. STATISTICAL ANALYSIS.

.. .. ..

3.1. Questions. 7.1. Questions. 11.1. Questions.

3.2. Answers. 7.2. Answers. 11.2. Answers.

TOPIC 8. CYCLES. TOPIC 12. ETHICS.

TOPIC 4. CONSTRUCTION. .. ..
..
8.1. Questions. 12.1. Questions.
4.1. Questions. 8.2. Answers. 12.2. Answers.
4.2. Answers.