Chartered Market Technician (CMT) Exam: How to prepare it effectively
CMT association provides a platform for you to compete in the exam to become globally financial. Today become a Chartered market technician by simply passing the three leveled exam and live a dream.
What are the Exam Requirements-
To pass the charted technician market exam there are some requirements to be filled and one of them are passing the three leveled exam.
CMT Level One-
Level one requires to comprehend the skills of a technician analyst. There should be some functional knowledge of statics and pattern analysis, selections, ethics, and decision making. It has 120 questions to be solved.
Once you get clearance for part one, now you can compete in other levels.
CMT Level Two-
The level two demands a deeper proficiency on the topics like, analysis and usage of tools to pass the exam. In this part you are required to solve 150 questions in order to pass it.
CMT Level Three-
Candidates should have a solid grip over development of research opinions, investing approaches, and trading decisions based on charts and data. In this level you have to come over case studies and solve them with your recommendations.
In order to pass all the three exams, candidate should obtain referral from at least three of the members who are associated with CMT. In the final step the applicant should submit the member’s filled questionnaire.
It’s not necessary for the applicants to have referrals from current members, but they require at least three years of professional work experience in this field. CMTs who have completed the CMT program only need three years of professional experience to qualify and as far as the non-CMT candidates are concerned, they need five years of experience for membership approval. Lastly, all candidates must consent to CMT’s Code of Ethics and Standards.
How to Enroll for the Exam-
You can enroll yourself today by visiting there official site but you need to check their dates when the registrations are open and get started.
All you need is to make an account then register in three level exams separately and get them clear one by one in order to proceed. It’s that simple to get it started.
How to plan an Exam Schedule-
The exam gets prepared automatically but it’s is solely a self-study and you need to develop a plan for it.
Here is some break downs for your study plan;
Studying for Three Levels-
Every exam has different categories to cover so you need to have a vast grip on it. The first exam covers 120 questions consisting of knowledge of statics and pattern analysis, selections, ethics, and decision making. The second exam have 150 questions which has topics like, analysis and usage of tools, and lastly the third part has a case study.
To solve these three levels you need to have a vast experience and grip over these fields more so it’s easy for you to pass.
The CMT association program allows you to take an online schedules which train you for the specific exams and covers a variety of topics, they have an online practice exams as well. You can get registered for it from their official websites.
By attending the webinars they accompany you can learn what’s inside the exam and how to perform well in it. They cover the lectures on how to attempt the exam and how to manage the time. Also informing how to become a member of the team. Job opportunities you can have after it.
Well as it states;
Practice makes the man perfect, this also requires your practice and time. You can practice it practically and as well as by taking online tests. As this exam asks for the experience it means it is all based on practical and critical thinking.
On their official website they have featured lecture videos covering the topics of exam. Giving you online lectures through professionals. You can join their program of education and start the preparing for it soon and easily.
What is the ideal Learning Time?
It solely depends on who much you have a grip over the topics covering the exam and what is your pace for studying. Only experts and people who are master can recommend you the specific time but it turns out to be on you, how you manage this all.
The first exam needs a preparation time of 100 hours, as the second exam is concerned it takes 140 hours of studying and the last and final exam requires 160 hours of study.
They also offer forums and mentorships for better learning.
What is the Passing percentage?
The level 1 and level 2 scores are fixed and cannot be changed, you need to score 70% for both the exams and this is a must and decided score. Both the exam result comes within a week but exam three takes longer as much as 6-8 weeks.
Determine how difficult is the exam?
It can be considered to be a hard exam you are about to take but then the question arises that it truly depends on how much grip you have over the field and how many years you have worked as a charted technician marketer, as the exam demands experience or to become a member both ways it depends on how you take the difficulty of the exam.
What is the Pricing system?
Applicant has to submit a onetime fee for the exam enrollment and that is $250. To become the member of charted technician market you need to pay $325. Once the payment is done you can register and sign up, then pay for the exam and so on.
The further exams are divided with their fees which has to be paid individually;
- CMT Exam Level One costs from $450 to $750, but the members of the CMT Association pays from $475 to $875.
- CMT Exam Level Two costs from $650 to $1,050 depending when you are applying, however,, the members of CMT Association pays between $475 to $875.
- CMT Exam Level Three, the price is the same as for the Exam Level Two but need to pay for the study material for each exam ranges from $225 per level in e-book formats and the prints, or $275 per level in both formats.
Every level comes with the study guide and books which have to be purchased accordingly. If you are competing in the specific exam, you will need to buy those books to have a solid grip over the exam. The price is same for all the three level materials and that is $225.
What are the requirements in a situation like failing?
You do not resubmit the fee of registration again as its life time payment and the material you have bought but you will need to pay again for each level. If you fail in any of the three levels you will need to repay them according to the time of when you register.
What is the industrial standing of the exam?
The CMT Exam is well known in the industry as well as in the world. It is the highest education and certificate you can earn in the Charted Technician Market.
What can be possible Alternates to it?
Here below is he list of alternative exams for the same field;
- Chartered Member of the Nippon Technical Analysts Association.
- Diploma in Technical Analysis (Dip.TA).
- Certified ESTA Technical Analysts Program (CETA).
- Member of the Society of Technical Analysts (MSTA).
The three level exam CMT gives you a high opportunity in the market and makes you well certificated. It is a professional exam for higher chances of getting into a market with more job doors opening.