CFA Exam Approved Calculator Checker
Instantly verify if your calculator model is one of the calculators permitted for use during CFA exams. Our tool and guide cover the official policy from the CFA Institute.
Check Your Calculator’s Status
What are the Approved CFA Exam Calculators?
The CFA Institute enforces a strict policy regarding calculators permitted for use during CFA exams to ensure fairness and integrity. This policy is not a suggestion; it’s a mandatory rule. Only two specific models of business analyst calculators are authorized. Bringing any other model, including scientific, graphing, or programmable calculators not on the approved list, will result in you being unable to use it during the exam.
The primary purpose of this policy is to create a level playing field for all candidates. By standardizing the tools, the Institute ensures that no candidate has an unfair advantage through superior calculator technology. This focus on specific, non-programmable financial calculators keeps the exam centered on a candidate’s understanding of financial concepts, not their ability to program a device. Understanding the rules for calculators permitted for use during cfa exams is a crucial part of exam preparation.
Who Should Use This Guide?
This guide is essential for all registered CFA Program candidates, from Level I to Level III. Whether you are purchasing your first financial calculator or verifying that your current one is compliant, this information is critical for a smooth exam day experience. Misunderstanding the calculator policy can lead to significant stress and disadvantage during the test.
Common Misconceptions
A frequent misconception is that any financial calculator is acceptable. This is false. Even advanced financial calculators from the approved brands (Texas Instruments and Hewlett Packard) are prohibited if they are not the exact authorized models. Another common error is assuming calculator apps on phones or smartwatches are allowed; they are strictly forbidden. You must have one of the physical, approved calculators permitted for use during cfa exams.
CFA Institute Calculator Policy Explained
The official CFA Institute policy explicitly states that only two calculator models are authorized for use during the exams. Candidates must bring their own calculator, and sharing is not permitted. The two approved base models are:
- Texas Instruments BA II Plus (including the BA II Plus Professional version)
- Hewlett Packard 12C (including the HP 12C Platinum, 25th/30th anniversary editions, and Prestige)
Proctors will inspect all calculators before the exam begins. You will be required to clear your calculator’s memory. While you can bring a backup calculator (if it’s also an approved model), spare batteries, and a small screwdriver for battery replacement, you cannot bring instruction manuals. This makes it vital to be proficient with your chosen device well before exam day. Using one of the official calculators permitted for use during cfa exams is non-negotiable.
Policy Checklist Table
| Item | Status | Reasoning |
|---|---|---|
| TI BA II Plus / HP 12C | Permitted | The only two authorized calculator models. |
| Spare Approved Calculator | Permitted | Highly recommended in case of malfunction. |
| Loose Batteries & Screwdriver | Permitted | Allowed for on-the-spot repairs. |
| Calculator Cover/Case | Permitted | Allowed for protection. |
| Calculator Instruction Manuals | Prohibited | Considered unauthorized material. |
| Any Other Calculator Model | Prohibited | Includes scientific, graphing, or other financial calculators. |
| Mobile Phones or Tablets | Prohibited | Calculator apps are strictly forbidden. |
Visual Comparison: TI BA II Plus vs. HP 12C
Practical Examples (Real-World Use Cases)
Understanding which calculators are permitted for use during CFA exams is best illustrated through scenarios.
Example 1: The Prepared Candidate
A candidate arrives at the test center with a Texas Instruments BA II Plus Professional and a spare HP 12C in their bag, along with extra batteries. During the proctor’s check, they present the TI calculator. The memory is cleared, and the exam proceeds smoothly. The candidate is confident, knowing they have a compliant primary calculator and a backup. This is the ideal situation.
Example 2: The Unprepared Candidate
Another candidate brings a TI-84, a powerful graphing calculator they used in college. At the proctor check, they are informed that it is not one of the approved calculators permitted for use during CFA exams. They are not allowed to use it and, having no backup, must take the quantitative-heavy exam without a calculator. This puts them at a severe, likely insurmountable, disadvantage.
How to Use This CFA Calculator Checker
This tool provides instant clarity on whether your calculator is compliant.
- Select Your Model: Choose your calculator from the dropdown list. The two approved models are listed first.
- Specify if ‘Other’: If your model is not listed, select ‘Other’ and type the model name (e.g., “Casio fx-115”) into the text field that appears.
- Review the Result: The tool will immediately display a large “Permitted” or “Not Permitted” banner.
- Check Key Details: The boxes below the main result provide context, such as the entry system (Algebraic vs. RPN) and key functions, to help you understand the calculator’s features in the context of the CFA exam curriculum.
Key Factors in Choosing Your CFA Calculator
Since both the TI BA II Plus and HP 12C are calculators permitted for use during CFA exams, the choice comes down to personal preference. Here are six factors to consider:
- Entry System (Algebraic vs. RPN): The TI BA II Plus uses the Algebraic Operating System (AOS), which is how most people learn math (e.g., 2 + 3 * 4 = 14). The HP 12C is famous for its Reverse Polish Notation (RPN), which is faster for complex calculations once mastered but requires a learning curve (e.g., 3 Enter 4 * 2 +).
- Learning Curve: The TI BA II Plus is widely considered more intuitive and easier to learn for beginners. Most third-party CFA prep materials use it for their examples. The HP 12C’s RPN system can be confusing initially.
- Price: The TI BA II Plus is generally more affordable than the HP 12C. The prestige and long history of the HP 12C in the finance industry often come with a higher price tag.
- Build Quality and Feel: The standard TI BA II Plus has a plastic construction. The “Professional” version has a better build. The HP 12C series is often praised for its robust build quality and responsive keys, which is why it has been a professional favorite for decades.
- Community and Support: As the more popular choice among candidates, there are far more tutorials, forum discussions, and study group members familiar with the TI BA II Plus. This can be a valuable resource when you’re stuck on a calculation.
- Extra Functions: The BA II Plus Professional has a few extra functions not found on the standard HP 12C, such as Net Future Value (NFV) and Discounted Payback Period (DPB), which can be useful in specific problems. Our guide on {related_keywords} has more details.
Frequently Asked Questions (FAQ)
Yes, you are allowed to bring a backup calculator, as long as it is also one of the approved models (either a second TI BA II Plus or an HP 12C). This is highly recommended.
The Professional version has a better build quality, a weighted feel, and a few extra worksheet functions like Net Future Value (NFV) and Modified IRR (MIRR). Both are calculators permitted for use during cfa exams. Learn more about {related_keywords}.
RPN (Reverse Polish Notation) is an input method used by the HP 12C that can reduce keystrokes. You do not need to learn it, as the TI BA II Plus uses a standard algebraic method. Many finance professionals swear by RPN’s efficiency, but it has a steep learning curve. For more info, see our page on {related_keywords}.
Yes, proctors will likely ask you to demonstrate that you have cleared the memory on your device before the exam begins to ensure no notes or formulas are stored.
You will not be allowed to use it. If you do not have an approved backup, you will have to take the exam without a calculator, which is a major disadvantage. There are no exceptions to the policy on calculators permitted for use during cfa exams.
No. Mobile phones, tablets, smartwatches, and any other electronic communication devices are strictly prohibited from being used in the testing room.
Yes, calculator covers, cases, and loose keystroke cards that sometimes come with the calculator are permitted. However, full instruction manuals are not. We have a {related_keywords} guide available.
The Texas Instruments BA II Plus is significantly more popular due to its lower cost, intuitive algebraic interface, and the widespread availability of learning resources that use it for examples.