I went to see the Picasso exhibit recently and it was wonderful! The location is right in front of the Moneda and they have 2 entrances, one on each side of the Moneda, that go underground. Going earlier is best as there are fewer people, the exhibit was free and spacious and we spent about an hour browsing. They have lockers to leave backpacks for free and a nice gift shop with reasonable prices. It's important to note that the cultural center is not the same as the Palacio de la Moneda too, if you want to visit the Palace you must make a reservation online at least a week in advance, but no reservation is needed for the cultural center!
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