Can You Use a Calculator on the CFA Exam? Policy Checker

Instantly check if your calculator model is compliant with the official CFA Institute policy for all exam levels in 2026. Avoid surprises on exam day.

CFA Exam Calculator Policy Checker

What is the CFA Exam Calculator Policy?

The **can you use a calculator on the cfa exam** question is critical for every candidate. The CFA Institute enforces a very strict calculator policy to ensure fairness and a level playing field for all individuals taking the exam. Unlike many academic tests, you cannot bring just any calculator. Only two specific models (and their approved variations) are authorized for use during the exam. Using an unauthorized calculator can result in the voiding of your exam results.

This policy applies to all three levels of the CFA exam. Candidates are responsible for bringing their own approved calculator; they are not provided at the test center. Understanding and adhering to this rule is a fundamental part of exam preparation.

Approved Calculators: Formula and Explanation

The “formula” for calculator approval is not a mathematical one, but a simple list of approved devices. There are no calculations to perform, only a check against the authorized list. The policy exclusively permits two base models.

The Official List of Approved Calculators

As per the official CFA Institute policy, only the following calculators are permitted:

• Texas Instruments BA II Plus (including the BA II Plus Professional)
• Hewlett Packard 12C (including the HP 12C Platinum, 12C Platinum 25th anniversary edition, 12C 30th anniversary edition, and HP 12C Prestige)

No other calculator, regardless of its functionality, is allowed. This includes other financial calculators, scientific calculators, and of course, any device with communication capabilities.

Comparison of CFA Approved Calculator Models

Variable (Model)	Meaning (Key Characteristics)	Input Style	Typical Range (Price)
TI BA II Plus	Worksheet-based (prompts for variables), popular with students.	Algebraic (AOS)	$30 – $45
TI BA II Plus Pro	More robust build, adds functions like NFV and Modified Duration.	Algebraic (AOS)	$45 – $60
HP 12C	A classic in the finance industry, uses RPN for faster calculations.	Reverse Polish Notation (RPN)	$50 – $70
HP 12C Platinum	Faster processor, can switch between RPN and Algebraic input.	RPN & Algebraic	$60 – $80

Decision Flowchart for CFA Calculator Compliance

Start: Check Calculator

Is it a TI BA II Plus (Standard or Professional)?

YES ALLOWED

NO

Is it an HP 12C (any approved version)?

NO NOT ALLOWED

YES

A flowchart illustrating the simple decision process for determining if a calculator is compliant with CFA exam rules.

Practical Examples

Let’s consider two common scenarios candidates face when trying to figure out if **can you use a calculator on the cfa exam** applies to them.

Example 1: Candidate with a Standard University Calculator

• Input: A candidate owns a Texas Instruments TI-84 Plus, a common graphing calculator for university courses.
• Action: They use the policy checker and select “Texas Instruments TI-83/84”.
• Result: NOT ALLOWED. The result clearly indicates this model is not on the approved list, despite being a Texas Instruments product. They now know they must purchase an approved model.

Example 2: Candidate Choosing Between Approved Models

• Input: A candidate is deciding between an HP 12C Platinum and a TI BA II Plus Professional.
• Action: They check both “Hewlett Packard 12C Platinum” and “Texas Instruments BA II Plus Professional” in the tool.
• Result: ALLOWED for both. The tool confirms both are compliant. The candidate can now make a decision based on other factors like input style (RPN vs. Algebraic) and price. For more details, they might consult a guide on choosing the best CFA calculator.

How to Use This CFA Calculator Policy Checker

Using this tool is a simple, three-step process to confirm if your device is approved.

1. Select Your Model: From the dropdown menu, choose the calculator model you intend to use. We have included common approved and non-approved models for clarity.
2. Check Compliance: Click the “Check Compliance” button. The tool will instantly process your selection.
3. Interpret the Result: The result box will appear, showing either “ALLOWED” in green or “NOT ALLOWED” in red, along with a brief explanation based on the official CFA Institute policy.

Key Factors That Affect the CFA Calculator Policy

The policy is straightforward, but several related factors are crucial for exam day success.

• Strict Enforcement: Proctors will inspect calculators. Possession of a non-approved model, even if not in use, is a violation.
• No Borrowing: You cannot borrow or share a calculator during the exam.
• Backup Calculators: You are allowed to bring a backup calculator, but it must also be an approved model. It’s a highly recommended strategy.
• Battery Life: You are responsible for your calculator’s power. You may bring spare batteries and a small screwdriver for battery changes.
• Memory Clearing: While not always mandatory to be cleared by a proctor, it is best practice to clear your calculator’s memory before the exam begins.
• Calculator Covers & Accessories: Calculator covers, keystroke cards, and loose batteries are permitted. Instruction manuals are NOT.

FAQ: Can You Use a Calculator on the CFA Exam?

1. Can I bring two calculators to the CFA exam?

Yes, you can bring more than one calculator, as long as every calculator you bring is an approved model (e.g., a TI BA II Plus and an HP 12C).

2. What happens if I bring the wrong calculator?

Your unauthorized calculator will be confiscated, and you will have to take the exam without one. This could also lead to a Professional Conduct investigation and potential voiding of your exam results.

3. Does the test center provide a calculator if I forget mine?

No. Test centers do not provide calculators. You must bring your own.

4. Which is better: the TI BA II Plus or the HP 12C?

This is a matter of personal preference. The TI model uses an algebraic entry method that is familiar to most people, while the HP uses Reverse Polish Notation (RPN), which is faster for complex calculations once mastered. Most third-party prep materials use the TI for examples.

5. Do I need to know how to use all the calculator’s functions?

You need to be proficient in the functions relevant to the CFA curriculum, such as TVM, NPV, IRR, bond valuations, and basic statistics. Practice is essential. Consider a course on mastering your financial calculator.

6. Can I use a calculator app on my phone or tablet?

Absolutely not. Mobile phones and any other electronic communication devices are strictly prohibited.

7. Are there any differences between the standard TI BA II Plus and the Professional version?

Yes. The Professional version has a better build quality and includes extra functions like Net Future Value (NFV), Payback, Discounted Payback, and Modified Duration.

8. Where is the best place to buy an approved calculator?

They are widely available online and in office supply stores. Be sure to purchase from a reputable seller to avoid counterfeits. The CFA Institute provides links to distributors.