The CMT Board of Governors recommends the following minimum study hours for each Level of the CMT exam. These estimates are based on a college education and a background working in the financial markets: CMT Exam Level I : 80 to 120 hours CMT Exam Level II : 100 to 140 hours  CMT Exam Level III : 120 to 160 hours Recommended study time differs from person to person based on experience with the subject, time working in the field, and prior knowledge of technical analysis. However, these are rigorous exams testing a broad body of knowledge. All candidates, regardless of work experience, must allocate appropriate time to prepare the material.