CPT Study Guide 2026
Everything you need to pass the CPT exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.
📋 CPT Exam Format at a Glance
📚 CPT Topics to Study (69)
✍️ Sample CPT Questions & Answers
1. What is the significance of Bitcoin's 'difficulty adjustment'?
Bitcoin's difficulty adjusts approximately every 2,016 blocks (~2 weeks) to ensure blocks are found roughly every 10 minutes regardless of total network hash rate changes.
2. Under the wash-sale rule, if you sell a stock at a loss and repurchase the same stock within how many days before or after the sale, the loss is disallowed?
The wash-sale rule disallows a loss if the same or substantially identical security is purchased within 30 days before or after the sale.
3. A trading algorithm's 'Sharpe ratio' is calculated using:
The Sharpe ratio measures risk-adjusted return by dividing the portfolio's excess return (above the risk-free rate) by its return volatility (standard deviation).
4. What challenge is most commonly encountered in algorithmic & automated trading within Certified Pro Trader practice?
The most common challenge in algorithmic & automated trading is overcoming resistance to change while maintaining consistent implementation across diverse stakeholders.
5. Under Regulation NMS Rule 611 (the 'Order Protection Rule'), broker-dealers are prohibited from:
Rule 611 prohibits trade-throughs, meaning executing a trade at a worse price when a better protected quote is available on another exchange.
6. What is a 'dark pool,' and what advantage does it offer institutional traders?
Dark pools let institutions execute large orders without revealing size or intent to the public market, minimizing price impact and adverse selection.