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Are you ready to enhance your investment framework and improve your performance? Click the button below to Register.
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This Macro Specialist Designation Candidate Agreement (“Candidate Agreement”) is entered into between The Center for the Macro Specialist Designation (“CMSD”), whose registered address is 75 S Broadway, Suite 4-5677, White Plains, NY 10601, USA, and the person who registers with CMSD for the M2SD Program Level 1 (“M2SD Program”) in order to take the M2SD Exam Level 1 (“M2SD Exam”) (“you”).
By registering for the M2SD Program, you understand, accept, and agree to comply with the Candidate Agreement, as amended from time to time. You understand CMSD has the authority to void your exam result, and reject, suspend, or terminate your participation in the M2SD Program at any time for your failure to comply with the Candidate Agreement or any exam security policy. You understand that you will not be a candidate for the M2SD Program unless and until CMSD has received full payment of your registration fees and you meet all other criteria for registration. The criteria for registration can be found on the M2SD website. By registering for the M2SD Program, you attest that you meet all of the criteria for registration.
The M2SD Program is a course of study and exams that if passed lead to CMSD’s M2SD designation. The M2SD program costs $2,500.00 USD per exam level plus any applicable sales, VAT, or other taxes and is payable as part of the registration process on the CMSD website and Canvas Catalog website via Stripe. Once you are registered and accepted into the M2SD Program by CMSD, CMSD will provide some course materials and video on demand teaching via the Canvas website in order to assist you in preparing to take the M2SD Exam. Some reading materials are not provided by CMSD and it is your responsibility to obtain them. CMSD will provide the M2SD Exam at a test center as described below. CMSD reserves the right to reject your registration in its sole discretion for any reason. If your registration is rejected, you will receive a refund of your registration fee.
Misconduct is any activity or conduct that compromises or attempts to compromise the reputation, integrity, validity, or security of the M2SD Exam or the conduct of the M2SD Program. This includes conduct occurring before, during, and after the administration of the exam, and includes a violation of any testing rule or policy. By entering into this Candidate Agreement you agree that you will comply with all testing and teaching rules and policies required by CMSD and/or the test administrator, including but not limited to those listed below.
Misconduct and violations of this Candidate Agreement may come to the attention of CMSD through many sources, including witness/proctor reports, complaints, use of data forensics, publicly available information, and/or review of candidates’ exam files. CMSD may conduct a review of any alleged misrepresentation of any matter involving, or appearing to involve, any misconduct or violation of any term of this Candidate Agreement. As part of the review, CMSD may (i) contact any person or entity it believes may be able to provide relevant information, documents, and/or assistance in the investigation, (ii) void or withhold your exam result, (iii) sanction you, including, but not limited revocation of your registration in the M2SD Program or CMSD Membership, suspension or termination of your candidacy to take the M2SD Exam Level 1 or any subsequent levels, and/or (iv) take legal action against you.
CMSD may send notices and documents relating to your candidacy or any review or investigation to your e-mail address as shown in CMSD records. You are responsible for keeping CMSD advised of current mailing and e-mail addresses.
At the test center, you may be required to agree to a candidate pledge and/or a non-disclosure agreement in which you agree to comply with all testing rules and policies. Failure to execute such agreement may cause you to be unable to take the M2SD Exam.
The M2SD Exam is administered around the world by CMSD exam delivery partners. Once you are ready to take the M2SD Exam, you must schedule your examination date and test center location during one of the several open testing windows per year. To do so, you will receive an email from CMSD or the testing center partner describing the steps to schedule and date and location with the exam delivery partner before the expiration of the exam scheduling deadline. There is no guarantee that a test center will be available in your desired market or that your desired date and/or time will be available. If you are scheduled to take the exam at a test center that becomes unavailable, you will be notified of the alternate location/appointment time or contacted to select an alternate location and/or alternate exam appointment time. In order to schedule an exam date, you must register for the appropriate M2SD exam level and pay the standard registration fee. If you cancel your exam after the testing center’s cancellation deadline has passed or fail to appear for the exam at the testing center, you must pay a re-scheduling fee in order to re-schedule for another available exam date. You may attempt each level of the M2SD exam up to four times for the initial registration fee. The three additional attempts require payment of the re-scheduling fee. Failure to pass the exam level after four attempts will require you to re-register for that level and pay another registration fee if you wish to sit for the exam again. You would then have four attempts to pass the exam, as outlined above. You agree that at the time and date of the exam, local regulations and test center policies may mandate proof of vaccination against COVID-19 and/or an absence of COVID or flu-like symptoms to enter, and that if you fail to provide proof or become too ill to be admitted, you may be denied entry and required to pay the rescheduling fee in order to take a future exam.
CMSD offers the M2SD Exam in a manner and location accessible to individuals with documented disabilities in compliance with the law. Accommodation requests must be submitted by the published deadline. More information about requesting a testing accommodation can be found on our exam delivery partner’s website.
Neither the M2SD Program registration fee, the exam rescheduling fee, nor the exam re-take fee is refundable.
Notwithstanding anything to the contrary herein, CMSD and third-party companies executing exam administration services for CMSD take reasonable steps intended to ensure a safe, standardized administration on the exam day. However, events including but not limited to fire, flood, earthquake, storm, outbreak of disease, other natural disasters, civil unrest, or acts or threats of terrorism or crime, or of a military, para-military, political, or government authority (or even the threat of such an event) could interfere with the exam. If the normal testing process is cancelled, interrupted, delayed, mistimed, or otherwise disturbed, or if exam content is compromised as a result of a disruptive event, CMSD may need to change the date, time, location, or conditions of the exam or cancel the administration of the exam altogether. If this happens the exam may be rescheduled for an alternative date at no additional fee. CMSD Institute also reserves the right to refuse to allow exam scheduling or seat a candidate when it receives information from a reliable source tending to show that the candidate may be disruptive at a testing center or before, during, or within a reasonable period after the test administration. No remedy will be offered to candidates if they caused or were involved in the conduct that resulted in the need for exam rescheduling. With respect to any retest or alternative test date, the candidate will be required to take the entire exam in order to produce a valid result. CMSD will make all decisions regarding the administration of the exam and any corrective action.
CMSD endeavors at all times to properly administer, process, prepare, handle, and score all exams properly. In the unlikely event an administrative error occurs in the administration, processing, preparation, handling, or scoring of your exam, CMSD will, if possible, correct it. In cases where any part of the testing service is not delivered or completed, CMSD will offer you the opportunity to retest at no additional fee.
You will receive a result of “pass” or “fail” CMSD does not offer an appeals process or re-marking service. CMSD will notify you when your official exam results are available.
All disputes between you and CMSD and/or any or all of its contractors that relate in any way to the relationship between you and CMSD (including but not limited to the Candidate Agreement, the M2SD Program, the M2SD Exam, taking the M2SD Exam including but not limited to requesting or receiving test accommodations, score reporting, the use of your data, test security issues, or score validity), shall exclusively be resolved by a single arbitrator through binding, individual arbitration administered by the American Arbitration Association (“AAA”) under the AAA Consumer Arbitration Rules in effect at the time a request for arbitration is filed with the AAA. Both you and CMSD agree to comply with the AAA’s filing requirements promptly. This includes your obligation to pay to the AAA a non-refundable $200 filing fee or other such amount as the AAA may require at the time (unless the AAA agrees to waive the fee for you) and CMSD’s obligation to pay the remainder of the filing fee. Your share of the filing fee will be reimbursed by CMSD if you prevail in arbitration. Each party will be responsible for its own attorney’s fees and expenses incurred in connection with the arbitration except that CMSD shall recover from you its attorneys’ fees and costs incurred in connection with any action seeking to enforce your violation of CMSD’s intellectual property rights, or your obligations with respect to course materials, teaching videos, or the M2SD Exam.
You understand that by agreeing to arbitration you are waiving your right to have any disputes between you and CMSD heard and decided by a judge or jury.
You expressly waive any right to participate as a representative party or represented party in any class action filed in court. In addition, arbitration under this provision shall proceed solely on an individual basis without the right for any claims to be arbitrated on a class action or collective action basis or on bases involving claims brought in a purported representative capacity on behalf of others. The arbitrator shall not have the authority to combine or aggregate the disputes of more than one individual, conduct any class proceeding, make any class award, or make an award to any person or entity not a party to the arbitration. The arbitrator’s authority to resolve and make written awards is limited to claims solely between you and CMSD or CMSD’s affiliates, officers, executives, representatives or agents. Claims may not be joined or consolidated unless agreed to in writing by CMSD.
Nothing herein shall preclude CMSD from seeking provisional remedies (including but not limited to a violation of CMSD’s intellectual property rights, your obligations with respect to course materials, teaching videos, or the M2SD Exam which you acknowledge will cause irreparable harm to CMSD, for which you agree that money damages would not be possible to ascertain and will not be adequate) in connection with or in aid of arbitration in court, including the right to obtain injunctive relief, specific performance, or other equitable relief from a court of competent jurisdiction for a violation of this Candidate Agreement. In such a proceeding CMSD shall not be required to post a bond or show or prove any actual damages. The rights and remedies of CMSD to such equitable relief are not exclusive and are in addition to the other rights and remedies of CMSD under this Candidate Agreement at law or in equity. You irrevocably waive, to the fullest extent permitted by applicable law, any objection or opposition to CMSD’s motion to seal and/or close to the public any portion of the record or any hearings, motions, or trials in connection with such action. With respect to any legal proceedings commenced in any court, you and CMSD consent and agree that: (i) the courts of the State of New York and/or the United States District Court for the Southern District of New York shall have exclusive jurisdiction over CMSD and you and over the subject matter of any such proceedings and the enforcement or confirmation of any arbitration award, (ii) the exclusive venue of any such proceedings shall be the County and State of New York, (iii) CMSD and you irrevocably waive any and all right to plead or contend lack of personal jurisdiction in those courts or that such proceedings have been brought in an incorrect or inconvenient venue, and (iv) CMSD and you irrevocably waive any and all right to trial by jury in any such proceedings.
Nothing in this Candidate Agreement authorizes you to use any CMSD trademarks, service marks, or logos, including but not limited to the M2SD designation, or permit you to claim CMSD membership. Such authorization may be provided in CMSD’s sole discretion after you have passed all M2SD Exam Levels and executed the CMSD membership agreement.
Please see the CMSD Privacy Policy on the CMSD website for information on how CMSD uses and processes your personal data.
As a U.S. corporation, CMSD must abide by the regulations of the U.S. Department of the Treasury, Office of Foreign Asset Control (“OFAC”). OFAC regulations prohibit us from doing business with persons ordinarily resident in certain countries, as well as persons/entities on the Specially Designated Nationals (“SDN”) List. By signing the Candidate Agreement, you represent these restrictions do not apply to you or your employer. If you are subject to applicable sanctions, then CMSD will cancel your registration and participation in the M2SD Program without a refund. In addition, you agree to upload a copy of your valid passport as part of the registration process.
You acknowledge and agree that CMSD shall have no liability to you for any claim in any way related to the M2SD Program or the M2SD Exam (which is administered by an authorized independent contractor or contractors), including but not limited to, registration, the conduct of the teaching, the course materials, exam fees, the testing environment, and for any acts, omissions or breaches of law which are caused by you or a third-party testing organization engaged by CMSD. CMSD shall not be liable for any losses that were not foreseeable to CMSD and you when this Candidate Agreement is entered into, losses that were not caused by CMSD’s breach, or business losses and/or losses to any other non-party. CMSD SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, REPUTATIONAL, OR CONSEQUENTIAL DAMAGES OR ANY LOSS OF PROFITS, REVENUE, DATA OR USE. CMSD SHALL BE LIABLE ONLY FOR DIRECT DAMAGES, WHETHER IN CONTRACT, TORT, OR OTHERWISE, AND ANY CMSD LIABILITY SHALL BE LIMITED TO THE FEES PAID TO CMSD BY YOU UNDER THIS AGREEMENT.
CMSD reserves the right to discontinue and change the M2SD Program or any aspect of it at any time, including but not limited to program registration requirements, exam content, exam passing score, and/or testing policies.
The laws of the State of New York, USA govern this Candidate Agreement. In the event of any claim or dispute, the parties consent to exclusive venue for arbitration in New York City in the State of New York, USA.
The obligations of the parties shall be limited to those expressly set forth herein. Neither party is taking on a fiduciary relationship with the other via partnership, joint venture, or other method of creating such a relationship. No one other than a party to this Candidate Agreement with CMSD may enforce any of its terms.
In addition to any other rights and remedies provided by law or this Candidate Agreement, CMSD hereby expressly reserves all of its rights and remedies arising out of a breach of this Candidate Agreement and/or any infringement of any CMSD trade secret, copyright, and/or trademarks.
Acceptance of Terms
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