A magneto-optical system is described that allows for spatial mapping of Faraday rotation and infrared transmission of HgCdTe thin films. Composition, thickness, and absorption coefficient of HgCdTe samples are determined from analysis of transmission spectra. Carrier concentration is extracted from analysis of Faraday rotation spectra. The system provides noncontact, nondestructive rapid screening or detailed diagnostics of HgCdTe material. We also show that the results of resonant magneto-optical spectroscopy support the observation of Faraday rotation caused by optical transitions from shallow compensating acceptors as well as near-midgap defect levels in material with similar x-value. We show that these magneto- optical methods are powerful tools for the study of impurity and defect levels in HgCdTe as well as for characterizing and screening HgCdTe.