CMC FUND TRUST
485APOS, EX-99.C7, 2000-08-01
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                                                                  Exhibit (c7)

NUMBER                               [LOGO]                               SHARES


                             CMC SMALL/MID CAP FUND
         A SERIES PORTFOLIO OF CMC FUND TRUST, AN OREGON BUSINESS TRUST


This Certifies that


*SEE REVERSE FOR
CERTAIN DEFINITIONS


is the owner of
fully paid and non-assessable Shares of the CMC Small/Mid Cap Fund transferable
on the books of the Fund by the holder thereof in person or by duly authorized
attorney upon surrender of this certificate properly endorsed. This certificate
is not valid unless countersigned by the transfer agent.
         Witness the facsimile signatures of its duly authorized officers.



MARK A. WENTZIEN
SECRETARY





Dated:



JEFF B. CURTIS
PRESIDENT



COUNTERSIGNED:
BY TRANSFER AGENT

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Authorized Officer

<PAGE>



REQUIREMENTS: THE SIGNATURE(S) TO THIS ASSIGNMENT MUST CORRESPOND WITH THE
NAME(S) AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR WITHOUT
ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER.
         THE SIGNATURE(S) MUST BE GUARANTEED BY A COMMERCIAL BANK OR BY A
SECURITIES FIRM HAVING MEMBERSHIP ON A RECOGNIZED NATIONAL SECURITIES EXCHANGE,
WHOSE SIGNATURE(S) IS KNOWN TO THE TRANSFER AGENT OF THE FUND.


For value received, __________________hereby sell, assign and transfer unto

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            (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS OF ASSIGNEE)

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________________________________________________________________Shares of the

Common Stock represented by the within Certificate and do hereby irrevocably

constitute and appoint ____________________________________________ Attorney

to transfer the said stock on the books of the within-named Fund with full

power of substitution in the premises.

         Dated, __________________________ 20____

                ------------------------------------------------------------
                                        Owner

                ------------------------------------------------------------
                              Signature of Co-Owner, if any

         IMPORTANT:  BEFORE SIGNING, READ AND COMPLY CAREFULLY
                            WITH REQUIREMENTS PRINTED ABOVE.

SIGNATURE(S) GUARANTEED BY:______________________________________


     *The following abbreviations, when used in the inscription on the face of
this certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM - as tenants in common

TEN ENT  - as tenants by the entireties

JT TEN   - as joint tenants with right of
           survivorship and not as tenants
           in common

         Additional abbreviations may also be used though not in the above list.


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                  THIS SPACE MUST NOT BE COVERED IN ANY WAY



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