Can You Use a Calculator on the CFA Exam?
An Expert Guide and Approved Model Checker
CFA Approved Calculator Checker
Select your calculator’s brand and enter the model to see if it’s permitted for the CFA exam.
Enter the model name as written on your calculator.
What is the CFA Institute Calculator Policy?
The CFA Institute enforces a very strict policy regarding calculators to ensure fairness and integrity during the exam. The primary goal is to create a level playing field, where no candidate has an unfair advantage due to superior technology. This is why only two specific models of business calculators are authorized. Using or even possessing an unauthorized calculator in the exam room can lead to severe penalties, including having your exam results voided. Therefore, understanding can you use calculator on cfa exam is not just a suggestion—it’s a critical requirement for every candidate.
Approved CFA Calculator Models
Only two calculator models, including their specific variations, are authorized for use during the CFA exams. No other calculator, regardless of its functionality, is permitted. The proctors will inspect your calculator before the exam begins. Here is the complete, official list:
| Brand | Approved Models |
|---|---|
| Texas Instruments | BA II Plus (including 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) |
It’s highly recommended to visit our CFA Level 1 Study Guide for more essential preparation tips.
Practical Examples of Allowed and Prohibited Calculators
Example 1: Approved Calculator
A candidate brings a Texas Instruments BA II Plus Professional. During the pre-exam inspection, the proctor checks the model. Since this is an explicitly approved model, the candidate is instructed to clear the calculator’s memory and is allowed to proceed. This is a perfect example of following the approved calculators for CFA exam policy.
Example 2: Prohibited Calculator
Another candidate arrives with a Casio fx-991EX, a powerful scientific calculator. Even though it can perform many of the same functions, it is not on the approved list. The proctor will not allow this calculator into the exam room. The candidate must take the exam without a calculator, which is a significant disadvantage. This scenario underscores why checking if you can use calculator on cfa exam beforehand is crucial.
How to Use This CFA Calculator Checker
This tool is designed for simplicity and speed. Follow these steps:
- Select the Brand: Choose either Texas Instruments or Hewlett Packard from the dropdown menu.
- Enter the Model: Type the model name or number exactly as it appears on your device (e.g., “BA II Plus”, “12C Platinum”).
- Click “Check My Calculator”: The tool will instantly analyze your input and display the result.
- Review the Result: The box will show “Approved” in green if your calculator is on the list, or “Not Approved” in red if it is not recognized or not on the permitted list.
Key Factors That Affect Your Calculator on Exam Day
- Battery Life: Always install fresh batteries a few days before the exam. You are allowed to bring spare batteries and a small screwdriver for replacement.
- Memory Reset: You will be required to clear your calculator’s memory before the exam starts. Practice doing this so you are familiar with the process.
- Backup Calculator: You are permitted to bring a second, approved calculator as a backup. This is a wise insurance policy against malfunction or battery failure.
- Familiarity: The best calculator is the one you know how to use. Do not switch models right before the exam. Practice with your chosen CFA exam calculator throughout your studies.
- No Sharing: Sharing calculators with another candidate during the exam is strictly prohibited.
- Calculator Cover & Keystroke Cards: You may bring the calculator cover and any keystroke cards that came with it into the exam room. Instruction manuals are not allowed.
Frequently Asked Questions (FAQ) About Using a Calculator on the CFA Exam
1. Why is the CFA calculator policy so strict?
The policy exists to ensure fairness, uniformity, and exam security. By standardizing the tools, the CFA Institute prevents candidates from using devices with text-storage or communication capabilities, thus minimizing the risk of cheating.
2. What happens if I bring a non-approved calculator?
You will not be allowed to use it. If you are caught using one during the exam, your results will be voided, and you may face further disciplinary action.
3. Can I use a calculator app on my phone or tablet?
Absolutely not. Mobile phones and any other electronic devices are strictly forbidden in the exam room.
4. Which is better: the TI BA II Plus or the HP 12C?
This is a matter of personal preference. The Texas Instruments BA II Plus is more popular and generally considered easier to learn for beginners. The HP 12C uses Reverse Polish Notation (RPN), which is powerful but has a steeper learning curve.
5. Do I need to know how to use all the calculator’s functions?
You should master the key functions required for the curriculum, such as Time Value of Money (TVM), cash flow analysis (NPV, IRR), bond valuations, and statistical functions.
6. Can I bring two calculators to the exam?
Yes, you can bring two approved calculators. Many candidates bring a primary and a backup.
7. Is the TI BA II Plus “Business Analyst” model allowed?
Yes, the “BA II Plus” family, including the standard, Professional, and Business Analyst versions, are all acceptable.
8. Where should I buy my calculator?
You can purchase them from official distributors, online retailers, or electronics stores. The CFA Institute does not sell or endorse any specific retailer.
Related Tools and Internal Resources
To continue your preparation, explore these valuable resources:
- CFA Level 1 Study Guide: A comprehensive overview of the Level 1 curriculum and study strategies.
- CFA Exam Day Checklist: Everything you need to remember for a smooth exam day experience.
- Financial Ratio Calculator: A tool to practice key financial calculations.
- Our CFA Prep Courses: Discover our expert-led courses to help you pass.
- Understanding CFA Ethics: A deep dive into the most critical topic on the exam.
- Time Value of Money (TVM) Calculator: Practice one of the most fundamental concepts in finance.