Can You Use a Calculator During CFA Exam? Policy Checker
Instantly verify if your calculator model is approved by the CFA Institute for exam day.
CFA Approved Calculator Checker
Select the calculator model you plan to bring to the CFA exam.
What is the CFA Exam Calculator Policy?
The CFA Institute enforces a very strict calculator policy to ensure a level playing field for all candidates and to prevent any possibility of unfair advantages. The answer to “can you use a calculator during cfa” is yes, but only two specific models are authorized. Any other calculator, regardless of its capabilities, is forbidden. If you bring an unauthorized calculator, it will be confiscated, and you may face disciplinary action.
This policy means that graphing calculators, scientific calculators, or even other financial calculators not on the approved list are strictly prohibited. You must bring your own approved calculator, as they are not provided at the test center.
Approved CFA Calculator Models
The only two calculator models authorized for use during the CFA exams are the Texas Instruments BA II Plus and the Hewlett Packard 12C. This includes their specific variations.
| Manufacturer | Model Series | Approved Variations |
|---|---|---|
| Texas Instruments | BA II Plus | Standard and Professional (Pro) versions |
| Hewlett Packard | 12C | Standard, Platinum, 25th/30th Anniversary, and Prestige editions |
How to Use This Calculator Policy Checker
Using this tool to see if you can use your calculator during the CFA exam is simple:
- Select Your Model: Choose your calculator model from the dropdown list above. We’ve included the approved models and some common non-approved types.
- Click “Check Eligibility”: Press the button to run the check.
- Review the Result: The tool will instantly display a clear “YES” or “NO” answer with an explanation based on the official CFA Institute policy.
Practical Examples
Example 1: A Permitted Calculator
- Input: A candidate selects “Texas Instruments BA II Plus Professional”.
- Result: The tool shows a green “YES – This Calculator is Approved”.
- Interpretation: The candidate can be confident bringing this calculator to the exam.
Example 2: A Prohibited Calculator
- Input: A candidate selects “Casio FX-991EX (Scientific)”.
- Result: The tool shows a red “NO – This Calculator is NOT Approved”.
- Interpretation: The candidate must purchase an approved model like the TI BA II Plus or HP 12C to sit for the exam. Using a non-approved model is an ethics violation.
Illustrative Market Share of Approved Calculators
Key Factors and Rules for Exam Day
Beyond just having the right model, there are other critical rules regarding calculator use on exam day. Understanding these is essential to avoid any issues.
- Bring a Backup: You are allowed to bring a second, approved calculator as a backup in case the primary one fails.
- Batteries: You can bring loose backup batteries and even a small screwdriver to change them.
- Memory Clearing: Proctors may inspect your calculator’s memory. It is your responsibility to know how to clear it and ensure it contains no stored formulas or text.
- No Sharing: Sharing calculators or batteries with another candidate is strictly forbidden.
- Keystroke Cards: The original keystroke cards that came with your calculator are permitted, but instruction manuals are not.
- Calculator Cover: You are allowed to have the calculator’s cover with you.
Mastering your chosen calculator is crucial. The CFA exams are time-pressured, and being proficient with functions for Time Value of Money (TVM), Net Present Value (NPV), and statistical calculations can save valuable time and prevent errors.
Frequently Asked Questions (FAQ)
1. Can you use a calculator during CFA Level 1, 2, and 3?
Yes, the calculator policy is the same for all three levels of the CFA exam. You must use one of the approved models.
2. What happens if I bring a non-approved calculator to the exam?
The proctors will confiscate the calculator, and you will not be allowed to use it. This may also lead to a formal investigation and potential sanctions from the CFA Institute.
3. Is the Texas Instruments BA II Plus Professional version allowed?
Yes, both the standard BA II Plus and the BA II Plus Professional are explicitly permitted.
4. Is the HP 12C Platinum allowed?
Yes, the HP 12C Platinum, along with several other anniversary editions, is fully approved for the exam.
5. Why are graphing calculators like the TI-84 not allowed?
Graphing and programmable calculators are banned because their advanced functions (like storing text, formulas, or graphical capabilities) could provide an unfair advantage.
6. Should I bring a spare calculator?
It is highly recommended. You are permitted to have a second approved calculator at your desk, which can be a lifesaver if your primary one malfunctions.
7. Where is the official policy on the CFA Institute website?
You can find the definitive policy on the CFA Institute’s official website. It’s wise to check it before your exam for any updates. You can find more details at CFA Institute Calculator Policy.
8. Which calculator is better: TI BA II Plus or HP 12C?
The TI BA II Plus is generally considered more user-friendly and has a lower learning curve, making it the more popular choice. The HP 12C is preferred by some professionals accustomed to its Reverse Polish Notation (RPN) entry system, which can be faster for complex keystroke sequences once mastered.
Related Tools and Internal Resources
For more information on preparing for the CFA exam, check out our other resources:
- CFA Study Planner Tool: Organize your study schedule effectively.
- Ethics Mock Exam Simulator: Test your knowledge of the crucial ethics section.
- Financial Ratio Calculator: Practice common financial calculations.
- Time Value of Money Solver: A deep-dive tool for TVM problems.
- CFA Level 1 Topic Weights: Understand the structure of the exam.
- CFA Exam Passing Score Estimator: Estimate your chances based on mock exam scores.