The CMT exam explained: levels, fees, dates and the charter
Last checked October 16, 2026 · Sources: CMT Association CMT Program, registration, FAQs, 2026 Program Guide (PDF) and Professional Membership requirements
The CMT exam is the three-level exam behind the Chartered Market Technician charter, run by the CMT Association. Level I has 132 questions, all multiple choice, in two hours; Level II has 170 in four hours; and Level III mixes multiple choice and short answers over four hours. Each level costs $875 to $1,475 depending on when you register, and the official curriculum is included.
The three CMT exam levels
| Level | Focus | Format | Time | Suggested study |
|---|---|---|---|---|
| Level I | Foundational principles: core concepts, theory, terminology and tools | 132 multiple-choice questions | 2 hours | 40 to 100 hours |
| Level II | Applying technical analysis to find opportunities and manage risk | 170 multiple-choice questions | 4 hours | 100 to 140 hours |
| Level III | The work of a technical analyst: integrating tools to analyze markets and manage positions and risk | Multiple choice and short answers | 4 hours | Not stated |
Source: CMT Association 2026 Program Guide, checked October 16, 2026.
You take the levels in order, and each builds on the last. Our CMT levels, format and fees guide covers each level in more detail.
CMT exam fees and what’s included
| Registration period | Dates (December 2026 exams) | Fee per level |
|---|---|---|
| Early | May 14 to August 27, 2026 | $875 |
| Standard | August 28 to October 7, 2026 | $1,075 |
| Late | October 8 to November 4, 2026 | $1,475 |
Source: CMT Association registration page for the December 2026 exams, checked October 16, 2026.
The CMT Association says each registration includes the official curriculum, access to the Optuma charting platform and access to research from Nasdaq Dorsey Wright. Its FAQ says there is no separate enrollment process, enrollment fee or membership requirement to become a candidate, so older figures you may see for a one-time enrollment fee no longer apply. Registering early saves $600 per level compared with late registration.
Late registration for December 2026 is open until November 4.
Register on CMT AssociationCMT exam dates
CMT exams are offered twice a year, in June and December. For December 2026, the CMT Association lists Levels I and II from December 1 to 16 (Eastern Time) and Level III on Thursday, December 3. You register with the CMT Association, then schedule your appointment with Prometric, its testing partner. If you don’t arrive at your scheduled time, the fee is forfeited.
How to earn the CMT charter
Register with the CMT Association; there's no separate enrollment fee or membership requirement to start.
Take the levels in order. Active CFA charterholders can waive Level I and start at Level II.
You need at least three years of approved professional work experience in finance. Managing your own or family investments without pay doesn't count.
Apply for Professional Membership with three references who are Professional Members in good standing. Only then can you use the CMT designation.
Study strategy and tips
Study from the official curriculum that comes with your registration, weighted by the CMT Association’s knowledge domains: theory and history is 38% of Level I, classical and advanced techniques are 80% of Level II combined, and Level III is 95% applying technical analysis. Plan 40 to 100 hours for Level I and 100 to 140 for Level II, as the Association suggests.
Start with what’s free: the CMT Association’s Program Guide has sample questions for every level, your registration includes the official curriculum, and registered candidates get free Optuma software and free Optuma prep courses. Our free CMT resources page explains how to use each.
Domains, format and hours for each level.
→A 12-week schedule and timelines.
→What's included with registration.
→Things that actually move your score
The 2026 Program Guide has sample questions for every level, each linked to its curriculum source.
Give the most time to the biggest domains for your level.
Use the Optuma access included with registration to apply patterns and indicators to real charts.
Level I allows under a minute per question; Level II and III are four hours long.
Level III adds short answers; practice explaining an analysis in a few clear sentences.
Where candidates talk about the CMT
The CMT Association runs its own online community on Discord, and candidates also discuss the exams on Reddit and Quora. Much of what’s posted predates the current fees and the end of UWorld’s CMT course, so check details on cmtassociation.org. Our CMT community guide lists outdated claims to watch for.
Our CMT guides
132 questions, 2 hours, domain weights.
→170 questions, 4 hours, techniques 80%.
→Short answers, 95% application.
→Focus, cost, study time and the waiver.
→Each level, fees and the charter requirements.
→Registration windows, Prometric scheduling, refunds.
→Experience, references and Professional Membership.
→Suggested hours, a 12-week schedule and timelines.
→The included curriculum and how to use it.
→Our criteria and what we don't do.
→CMT Association pages in one place.
→Reddit, Quora and outdated claims to watch for.
→Weighing a different credential? See our CMT vs CFA comparison, our CFA guide and our securities licensing guide for the SIE and Series 7.
Common questions about the CMT exam
Who can sit the CMT Level I exam?
The CMT Association’s FAQ says there is no separate enrollment process, fee or membership requirement to become a candidate. Earning the charter itself takes all three levels, three years of approved experience and Professional Membership.
How much does the CMT exam cost?
$875 with early registration, $1,075 standard and $1,475 late, per level, for the December 2026 exams. The official curriculum is included.
When is the CMT exam offered?
Twice a year, in June and December.
Can CFA charterholders skip CMT Level I?
Yes. Active CFA charterholders can waive Level I and start at Level II. The waiver doesn’t cover Levels II and III or Professional Membership.
How much experience do I need for the CMT charter?
Three years of approved professional work experience to use the CMT designation after passing Level III, or five years for Professional Membership without taking the exams.
We first checked these sources on October 12, 2026 and rechecked them on October 16, 2026. MockTestPrep is independent and is not affiliated with the CMT Association.