Volume in a head and shoulders pattern is HIGHEST where?

• A.At the top of the head
• B.At the completion of the head
• C.During the right shoulder
• D.During the left shoulder

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The January Effect is:

• A.As the S&P goes in January, so goes the year
• B.When small cap stocks are more likely to outperform the market
• C.Has not worked well in recent years
• D.B and C

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Dan Montier, a CMT Level 1 candidate, created a proprietary trading model that relies on daily last hour volume of a stock. The exact details of the model weren't disclosed to clients, but the general formulation of the model was disclosed along with simulated results of trading as if the model had been in effect for the past
5 years. The model produced profitable simulated results and Montier was able to attract several clients. His assistant discovered an error in the coding of the model and when the error was corrected the simulated results were not nearly as profitable. Montier corrected the coding of the model, but decided against informing his clients of the error. With respect to the MTA Code of Ethics, Montier's actions are:

• A.Not in violation, as the error only affected simulated results
• B.Not in violation, as he is only a Level 1 candidate and is not bound by the Code
• C.In violation as presenting simulated results of a model are prohibited by the Code
• D.In violation as the statements made about the simulated results were inaccurate and misleading

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The resistance level of a price trend refers to:

• A.The level under the market where buying interest is sufficiently strong to overcome selling pressure
• B.The level over the market where selling pressure is sufficiently strong to overcome buying pressure and a price advance is expected to be turned back
• C.The boundaries of the trading range of the trend
• D.The target price indicated by the count

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An inverse head and shoulders pattern is:

• A.A topping pattern
• B.Generally unreliable1920
• C.A reversal pattern2122
• D.A and B2324

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