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Question 1

Score: 0/0

Under Dow Theory, a primary uptrend is considered confirmed when which condition occurs?

Both the Industrial and Transportation averages break above prior secondary-reaction highs

The Industrial average alone reaches a new 52-week high

Volume declines as prices rise

Bond prices rally while stock prices stall

to track

2026 Statistics

Key Facts: CMT Exam

132

Questions Delivered

Level I format

120

Scored Questions

CMT Association FAQ

2 hours

Exam Time

CMT Association FAQ

38%

Theory & History

Largest domain

$875-$1,475

Registration Range

June 2026 registration windows

Remote or center

Delivery Options

Prometric / ProProctor

CMT Level I currently tests 132 multiple-choice questions in 2 hours, delivered through Prometric or remote ProProctor. The official weightings are 38% Theory and History, 33% Classical Chart Analysis, 26% Advanced Technical Analysis, and 3% Ethics and Standards. CMT Association does not publish a fixed passing percentage, so candidates should focus on broad domain coverage rather than a single target score.

Sample CMT Practice Questions

Try these sample questions to test your CMT exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 200+ question experience with AI tutoring.

1Under Dow Theory, a primary uptrend is considered confirmed when which condition occurs?

A.Both the Industrial and Transportation averages break above prior secondary-reaction highs

B.The Industrial average alone reaches a new 52-week high

C.Volume declines as prices rise

D.Bond prices rally while stock prices stall

Explanation: Dow Theory looks for confirmation between key market averages rather than relying on a single index. When both averages move above prior important highs, technicians view the primary uptrend as broadly validated.

2Which sequence best defines an uptrend on a price chart?

A.Higher highs and higher lows

B.Higher highs and lower lows

C.Lower highs and higher lows

D.Lower highs and lower lows

Explanation: An uptrend reflects persistent demand pushing each rally above the prior rally peak and each pullback above the prior pullback low. That sequence shows buyers maintaining control over time.

3Weak-form market efficiency suggests that which approach should not consistently generate excess returns by itself?

A.Studying management guidance

B.Analyzing macroeconomic data

C.Using only past price and volume data

D.Comparing industry profit margins

Explanation: Weak-form efficiency holds that historical market data is already reflected in current prices. Under that view, price and volume patterns alone should not provide a durable edge after costs.

4Which behavioral bias describes the tendency to feel losses more strongly than similar-sized gains?

A.Anchoring

B.Loss aversion

C.Recency bias

D.Mental accounting

Explanation: Loss aversion is the idea that the pain of losing money is usually greater than the pleasure of making the same amount. This bias can cause investors to hold losers too long or avoid sensible risk-taking.

5A standard line chart is typically constructed by connecting which data points?

A.Opening prices

B.Closing prices

C.High-low ranges

D.Volume totals

Explanation: A line chart usually connects closing prices from one period to the next. Technicians use it when they want a cleaner view of the general trend without the added detail of highs, lows, and opens.

6If Treasury bond prices are rising while yields are falling, technicians often infer that the market is discounting:

A.Faster inflation and stronger commodity demand

B.Slower growth or lower inflation expectations

C.An immediate breakout in small-cap stocks

D.A sharp increase in open interest

Explanation: Bond prices and yields move inversely, so rising bond prices signal declining yields. In intermarket analysis, that behavior often aligns with expectations for softer growth, lower inflation, or a more defensive environment.

7A broad index makes a new high, but the advance-decline line does not. What is the classic technical message?

A.Volume is confirming the move

B.Fewer stocks are participating in the advance

C.The uptrend is accelerating across all sectors

D.A downside reversal is impossible

Explanation: When the index rises but breadth fails to confirm, leadership is becoming narrower. That divergence does not guarantee an immediate decline, but it does warn that the advance may be losing internal strength.

8An unusually high equity put-call ratio is most commonly interpreted as evidence of:

A.Elevated fear or hedging demand

B.Extreme corporate earnings growth

C.A confirmed Dow Theory buy signal

D.Falling market volatility

Explanation: A high put-call ratio shows heavy put activity relative to calls, which usually reflects fear, caution, or aggressive hedging. Sentiment indicators are often used in a contrary way, especially when readings become extreme.

9A stock's relative strength ratio versus the S&P 500 rises for three months while both the stock and the index fall in absolute terms. What does that mean?

A.The stock is outperforming the index on a relative basis

B.The stock is making a new absolute uptrend

C.The index is outperforming the stock

D.The ratio proves the stock is overvalued

Explanation: Relative strength compares one asset's performance to another, not whether either one is rising in absolute terms. If the ratio rises while both decline, the stock is still holding up better than the benchmark.

10In futures markets, rising prices accompanied by rising open interest most commonly suggest:

A.New money is entering in support of the trend

B.The rally is driven mainly by short covering

C.The contract is near expiration

D.Volatility is guaranteed to fall

Explanation: Open interest measures the number of outstanding contracts, so an increase means new positions are being added. When price and open interest rise together, technicians usually read it as confirmation of participation behind the advance.

About the CMT Exam

The Chartered Market Technician program is a three-level credential for technical analysis professionals. This practice exam is aligned to the current Level I blueprint, which emphasizes theory and history, classical chart analysis, advanced technical analysis, and ethics.

Assessment

Level I format: 132 multiple-choice questions (120 scored + 12 pilot items) in a single 2-hour sitting

Time Limit

2 hours

Passing Score

Pass/Fail; CMT Association does not publish a fixed passing percentage

Exam Fee

$875 early / $1,075 standard / $1,475 late (CMT Association)

CMT Exam Content Outline

38%

Theory and History

Dow Theory, market structure, behavioral finance, chart construction, breadth, sentiment, and intermarket relationships.

33%

Classical Chart Analysis

Support and resistance, trendlines, price patterns, candlesticks, moving averages, point-and-figure, and momentum confirmation.

26%

Advanced Technical Analysis

Fibonacci, Elliott Wave, volatility tools, systematic rules, risk management, performance evaluation, anchored VWAP, and newer market applications.

Ethics and Standards

Professional conduct, conflicts disclosure, and client-facing communication expectations.

How to Pass the CMT Exam

What You Need to Know

Passing score: Pass/Fail; CMT Association does not publish a fixed passing percentage
Assessment: Level I format: 132 multiple-choice questions (120 scored + 12 pilot items) in a single 2-hour sitting
Time limit: 2 hours
Exam fee: $875 early / $1,075 standard / $1,475 late

Keys to Passing

Complete 500+ practice questions
Score 80%+ consistently before scheduling
Focus on highest-weighted sections
Use our AI tutor for tough concepts

CMT Study Tips from Top Performers

1Master the Level I weighting first: theory and history deserves the largest share of your study time.

2Review patterns in context rather than memorizing names in isolation; trend, volume, and confirmation matter.

3Practice interpreting indicator messages, not just definitions, especially for breadth, sentiment, momentum, and volatility tools.

4Use timed mixed sets because the live exam compresses 132 questions into only 2 hours.

5Do not ignore ethics; it is a small domain, but those are usually high-conviction points if you know the standards cold.

Frequently Asked Questions

How many questions are on the CMT exam?

For the current Level I blueprint, the CMT exam delivers 132 multiple-choice questions, of which 120 are scored and 12 are pilot items. Candidates have 2 hours to complete the session.

What topics matter most on the CMT Level I exam?

Theory and History is the largest domain at 38%, followed by Classical Chart Analysis at 33% and Advanced Technical Analysis at 26%. Ethics and Standards is smaller at 3%, but it is still testable and easy to lose points on if you ignore it.

What passing score do I need for the CMT exam?

CMT Association does not publish a fixed passing percentage for Level I. The exam is reported as pass/fail, so the practical goal is consistent performance across all weighted domains rather than chasing a single published cut score.

What changed for the 2026 CMT exam cycle?

As of March 11, 2026, the major current update remains the 2025 all-digital curriculum and refreshed domain/subdomain structure that continues into 2026. Official materials also highlight newer content areas such as anchored VWAP, digital assets, volatility strategies, and behavioral-finance applications; no separate 2026 regulatory overhaul was identified in official CMT sources.

Can I take the CMT exam remotely?

Yes. The current CMT program allows testing at Prometric centers or via remote ProProctor delivery, subject to the provider's scheduling and technical requirements.