Can You Use a Calculator on the CFA Exam?

An instant policy checker and complete guide to the official CFA Institute calculator rules.

CFA Approved Calculator Checker

What is the Official CFA Exam Calculator Policy?

The CFA Institute enforces a very strict policy regarding calculators permitted during the exam. This policy exists to ensure fairness and a level playing field for all candidates worldwide. Only two specific models of business analyst calculators are authorized. Bringing a non-approved calculator will result in it being confiscated, and you will have to take the exam without one, or your results may be voided.

Understanding and adhering to the can you use calculator on cfa exam policy is a critical part of exam preparation. Proctors will inspect all calculators before the exam begins.

Approved CFA Calculator Models

As of the latest update, only two calculator models are authorized for use during CFA Program exams. These are the Texas Instruments BA II Plus and the Hewlett Packard 12C, including their variations.

Comparison of CFA Institute Authorized Calculators.

Model Family	Approved Variations	Key Characteristics
Texas Instruments BA II Plus	Standard and Professional versions	Considered more user-friendly with an algebraic operating system, similar to standard calculators. The Professional version offers more functions like NPV and MIRR. It’s the most popular choice among candidates.
Hewlett Packard 12C	Includes HP 12C Platinum, 25th/30th anniversary editions, and HP 12C Prestige.	A classic in the finance industry, it uses Reverse Polish Notation (RPN), which can be faster for complex calculations once mastered but has a steeper learning curve.

For more details on specific functions, you might want to review resources like the UWorld Finance CFA Calculator Guide.

How to Use This CFA Calculator Policy Checker

This tool helps you quickly verify if your calculator is on the approved list. Here’s how to use it:

1. Enter Model Name: Type the name of your calculator (e.g., “BA II Plus Pro” or “HP 12C Platinum”) into the input field above.
2. Check Status: Click the “Check Status” button.
3. Review Result: The tool will instantly tell you if the model is “Approved” or “Not Approved” based on the official CFA Institute policy.
4. Reset: Click the “Reset” button to clear the field for a new search.

Key Factors and Rules for Exam Day

Beyond just having the right model, there are several rules to remember on exam day regarding your calculator:

• Bring a Backup: You are allowed to bring a second, approved calculator. This is highly recommended in case your primary one fails.
• Fresh Batteries: Make sure your calculator has fresh batteries. You can bring spare batteries and a small screwdriver for replacement.
• Clear Memory: Proctors may ask you to clear your calculator’s memory before the exam starts to ensure no unfair advantage.
• No Sharing: You are not allowed to share your calculator with another candidate under any circumstances.
• Keep It Visible: Your calculator must remain on your desk in full view of the proctors during the exam.
• Permitted Accessories: Calculator covers, keystroke cards, and loose batteries are allowed. Instruction manuals are strictly forbidden.

A good resource for exam day preparation is the Proschool guide on CFA calculators.

Frequently Asked Questions (FAQ)

1. Which calculator is considered best for the CFA exam?

Most candidates prefer the Texas Instruments BA II Plus, especially the Professional version, due to its user-friendly interface and extensive tutorials available.

2. Can I bring both a TI BA II Plus and an HP 12C to the exam?

Yes, you can bring two calculators to the exam, as long as both are approved models.

3. What happens if I bring a non-approved calculator like a Casio or a TI-84?

It will be confiscated by the proctors before the exam begins. You will not be allowed to use it.

4. Are calculator apps on a phone or smartwatch allowed?

No. All electronic devices other than the approved calculators are strictly forbidden.

5. Do I need to know how to clear my calculator’s memory?

Yes, it is a good practice, and proctors may inspect your calculator and ask you to clear it.

6. Why is the calculator policy so strict?

The policy ensures that all candidates have access to the same computational tools, maintaining fairness and exam integrity.

7. Where can I buy an approved calculator?

They are widely available online and in electronics stores. The CFA Institute provides links to distributors on its website but does not profit from sales.

8. Does the Professional version of the BA II Plus offer a significant advantage?

The Professional version includes additional functions such as Net Future Value (NFV), modified duration, and discounted payback, which can be useful. Many users also prefer its build quality.