Great news. Microsoft has published the three core CRM 2011 exams.
Speaking from experience, I would say that the CRM 2011 Exams are better than the CRM 4.0 exams.  With CRM 2011, there is definitely more material to cover which makes the exam harder, but the questions are more specific, balanced and fair.

Dynamics CRM 2011 Applications exam MB2-868

This certification exam measures your ability to understand and articulate how to use, maintain and support Microsoft Dynamics CRM 2011 application including managing Microsoft Dynamics CRM 2011 marketing automation applications, Microsoft Dynamics CRM 2011 sales applications, Microsoft Dynamics CRM 2011 service management applications, and Microsoft Dynamics CRM 2011 services scheduling applications.

Dynamics CRM 2011 Customization and Configuration exam MB2-866

This exam covers the techniques required to customize Microsoft Dynamics CRM to meet the specialized needs of businesses. The topics covered include Security; creation and configuration of entities; design of forms views and charts; auditing and Solutions. The training describes each topic and how each topic relates to the other topics to produce a full configured, effective solution

Dynamics CRM 2011 Installation & Deployment exam MB2-867

This certification exam measures your ability to understand and articulate how to install and deploy Microsoft Dynamics CRM 2011 including planning the installation, installing Microsoft Dynamics CRM 2011 Server, installing and deploying the Microsoft Dynamics CRM 2011 Email Router, installing and deploying the Microsoft Dynamics CRM 2011 Client for Microsoft Office Outlook, configuring Microsoft Dynamics CRM 2011, and upgrading to and redeploying Microsoft Dynamics CRM 2011. 

Best wishes on becoming a Microsoft Certified Technology Specialist for CRM.
Cheers,
Neil