CFA Exam Calculator Eligibility Checker

Determine if you can use a calculator on the CFA exam based on the official policy.

Is Your Calculator Approved for the CFA® Exam?

Policy Breakdown

• Primary Approved Brands: Texas Instruments (TI) and Hewlett Packard (HP).
• Key TI Models: BA II Plus, BA II Plus Professional.
• Key HP Models: 12C, 12C Platinum, and special editions.

What Does “Can You Use a Calculator on CFA” Mean?

The question “can you use a calculator on CFA” is a fundamental query for every candidate preparing for the Chartered Financial Analyst (CFA) exams. The answer is a definitive **yes**, but it comes with a critical condition: you must use one of the models explicitly permitted by the CFA Institute. The policy is not flexible. Using an unauthorized calculator can lead to your exam being voided. This policy ensures a level playing field, where no candidate has an unfair advantage through superior calculator functionality, like graphing or programming capabilities.

This strict rule makes understanding the CFA calculator policy a crucial part of your exam preparation. It’s not just about having a calculator; it’s about having the *right* one and mastering its functions to be efficient on exam day. The exams are time-intensive, and proficiency with an approved calculator is essential for success.

CFA Calculator Policy: The Approved Models

The CFA Institute’s calculator policy is straightforward and strict to ensure fairness. Only two models, with their specific variations, are authorized for use. Any other calculator, regardless of its features, is prohibited. Bringing a non-approved device into the exam room can result in disqualification.

Official List of Approved Calculators for the CFA Exam

Brand	Approved Models and Variations	Typical Use Case
Texas Instruments	BA II Plus (including BA II Plus Professional)	Most popular choice due to its user-friendly interface. Covers all necessary financial functions like TVM, NPV, and IRR.
Hewlett Packard	12C (including HP 12C Platinum, 12C Platinum 25th anniversary edition, 12C 30th anniversary edition, and HP 12C Prestige)	Favored by some finance professionals for its efficient Reverse Polish Notation (RPN) entry system.

Practical Examples of Approved & Denied Calculators

Example 1: A Permitted Calculator

• Input Model: “TI BA II Plus Professional”
• Analysis: This model is explicitly listed as an approved variation of the Texas Instruments BA II Plus.
• Result: ✅ APPROVED for use on the CFA exam.

Example 2: A Prohibited Calculator

• Input Model: “Texas Instruments TI-84 Plus”
• Analysis: This is a graphing calculator. The CFA Institute policy strictly prohibits calculators with graphing or programming capabilities.
• Result: ❌ NOT APPROVED for use on the CFA exam.

How to Use This CFA Calculator Eligibility Checker

Using this tool is simple and gives you an instant answer regarding your calculator’s status for the CFA exam.

1. Enter Model Name: Type your calculator’s model name into the input field above. Be as specific as possible (e.g., “HP 12C Platinum” instead of just “HP”).
2. Check Eligibility: Click the “Check Eligibility” button.
3. Review the Result: The result box will immediately display a clear “APPROVED” or “NOT APPROVED” message based on the CFA Institute’s official policy.
4. Reset: Click the “Reset” button to clear the inputs and results for a new search.

Key Factors That Affect Calculator Approval

Understanding why certain calculators are allowed while others are not helps clarify the CFA Institute’s policy. Here are the key determining factors:

• No Graphing Capabilities: The calculator must not be able to display graphs. Models like the TI-83/84 are banned for this reason.
• No Programming Functions: You cannot use a calculator that allows you to store custom programs or formulas.
• No Alphabetic (QWERTY) Keyboard: Calculators with typewriter-style keyboards are not permitted.
• No Wireless Communication: Any device with wireless capabilities (e.g., Wi-Fi, Bluetooth) is strictly forbidden.
• Non-Noisy Operation: The calculator must operate silently.
• Limited Data Storage: The device cannot store extensive text or notes. You are expected to clear the calculator’s memory before the exam.

Frequently Asked Questions (FAQ)

1. Can you use a calculator on CFA Level 1?

Yes, you can and absolutely should. A high percentage of Level 1 questions require calculations. The policy is the same for all three levels of the CFA exam.

2. Which calculator is better: TI BA II Plus or HP 12C?

The TI BA II Plus is generally considered more user-friendly and is the more popular choice among candidates. The HP 12C, with its RPN logic, can be faster for those who master it but has a steeper learning curve.

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

Yes, you are allowed to bring a backup calculator, as long as it is also an approved model. You can even bring one of each approved type (e.g., one TI and one HP).

4. Do I need to clear my calculator’s memory?

Yes, the proctors may check your calculator, and you are required to show them that the memory has been cleared before the exam begins.

5. What else can I bring for my calculator?

You may bring a calculator cover, keystroke cards, and loose backup batteries. A small screwdriver for the battery compartment is also allowed. Instruction manuals are not permitted.

6. Are online calculators or calculator apps allowed?

No, any online tools or apps on a phone or tablet are strictly prohibited during the examination.

7. Where can I buy an approved CFA calculator?

Approved models are widely available online on sites like Amazon and at major office supply stores.

8. What happens if I bring the wrong calculator?

If you are found with an unauthorized calculator in the exam room, you will be in violation of the policy, which could lead to the voiding of your exam results and possible suspension from the CFA Program.