CFA® Exam Calculator Policy Checker
The CFA Institute has a strict policy on which calculators are permitted during the exam. Wondering if your model is allowed, or if you can bring a backup? This tool helps you quickly verify the official **CFA calculator policy**. Select your calculator model to see if it’s approved for exam day.
Policy Compliance Calculator
What is the CFA Calculator Policy?
The **CFA calculator policy** is a set of strict rules established by the CFA Institute to ensure fairness and a level playing field for all candidates during the exam. The policy explicitly states that only two specific types of business calculators are authorized for use. Using any unapproved calculator will result in the voiding of your exam results. This policy is not just a suggestion; it is a mandatory requirement for every person taking the exam. The core reason for this stringent policy is to standardize the tools available to candidates, preventing anyone from gaining an unfair advantage through superior calculator functionality, such as graphing or programming capabilities.
Who is this Policy For?
This policy applies to every candidate registered for any level of the CFA Program (Level I, II, or III) and the CIPM Program. Proctors will inspect all calculators before the exam begins, and they must remain in full view on your desk throughout the test. Whether you are a first-time candidate or a seasoned professional, adherence to the **CFA calculator policy** is non-negotiable.
Common Misconceptions
A frequent question among candidates is, “**cfa can i use two calculators**?” The answer is yes, you are allowed to bring a second calculator, and it’s highly recommended as a backup in case of battery failure or malfunction. However, the critical rule is that both calculators must be approved models. Another misconception is that any financial calculator will suffice. This is incorrect; only the specific models and their approved variations are permitted. Forgetting your calculator is not an excuse, as you cannot borrow one from the testing center or another candidate.
Understanding the CFA Institute Calculator Policy Rules
There isn’t a mathematical formula for the **CFA calculator policy**, but rather a clear, rule-based decision process. The “calculation” is a simple check: Does your calculator model belong to the approved list? The policy exclusively authorizes two families of calculators: the Texas Instruments BA II Plus and the Hewlett Packard 12C.
The logic is binary:
- IF Model is “TI BA II Plus” OR “TI BA II Plus Professional” THEN Status = Approved.
- IF Model is “HP 12C” OR “HP 12C Platinum” (and its special editions) THEN Status = Approved.
- ELSE Status = Not Approved.
| Component | Meaning | Details & Permitted Items | Typical Range of Action |
|---|---|---|---|
| Approved Models | The specific calculator models allowed. | Texas Instruments BA II Plus (incl. Professional) and Hewlett Packard 12C (incl. Platinum and other editions). | Purchase one of these models. |
| Backup Calculator | Bringing a spare in case of failure. | Allowed, but must also be an approved model. Many test centers permit this. | Strongly recommended. |
| Calculator Accessories | Items related to the calculator’s operation. | Calculator covers, keystroke cards, loose batteries, and a small screwdriver are permitted. | Bring spare batteries. |
| Prohibited Items | Items not allowed in the exam room. | Instruction manuals, smartphones, and any non-approved calculator models. | Leave these at home or in a locker. |
Practical Examples (Real-World Use Cases)
Example 1: The Prepared Candidate
A candidate, let’s call her Jane, is preparing for the Level I exam. She asks, “**cfa can i use two calculators**?” After researching, she purchases a Texas Instruments BA II Plus Professional as her primary device and an older, standard TI BA II Plus as her backup. On exam day, she brings both calculators, fresh batteries, and a small screwdriver. The proctor inspects both calculators, confirms they are approved models, and allows her to keep both on her desk. Midway through the exam, her primary calculator’s screen dims. Without panicking, she switches to her backup and continues seamlessly. Jane’s preparation directly aligns with the **CFA calculator policy** and prevents a potential disaster.
Example 2: The Unprepared Candidate
John, another Level I candidate, assumes his advanced graphing calculator (a TI-84 Plus) is acceptable because it’s a Texas Instruments model. He doesn’t read the specific **CFA calculator policy**. At the testing center, the proctor inspects his calculator and informs him it is not an authorized model. He is not allowed to bring it into the exam room. Since he did not bring a backup and cannot borrow one, John must attempt the exam without a calculator, an almost impossible task. His failure to verify the policy puts his entire exam attempt in jeopardy.
How to Use This CFA Calculator Policy Checker
- Select Your Model: Choose your calculator model from the dropdown list. If you don’t see your exact model, select the closest category or “Other/Not Listed”.
- Review the Result: The tool will instantly display whether your chosen calculator is “Allowed” or “Not Allowed” based on the official **CFA calculator policy**.
- Check Intermediate Values: The results section provides more context, including a reminder of the approved models and the policy on bringing a backup.
- Use the ‘Reset’ and ‘Copy’ Buttons: Click ‘Reset’ to clear the selection. Click ‘Copy Results’ to save a summary of your policy check for your records.
This tool helps you avoid a critical exam-day mistake. Making sure you have an approved calculator is as important as studying the curriculum. For more details on calculator functions, consider a CFA calculator guide.
Key Factors That Affect the CFA Calculator Policy
Understanding the nuances of the **CFA calculator policy** can save you significant stress. Here are key factors to consider:
- Model Specificity: The policy is not about the brand but the exact model. Only the TI BA II Plus and HP 12C series are allowed. No other models, regardless of functionality, are accepted.
- Calculator Memory: Proctors may require you to clear your calculator’s memory before the exam starts to ensure no formulas or notes are stored. You should know how to do this quickly.
- Battery Life: Exam day is long and stressful. A dying battery is a common point of failure. The policy allows you to bring spare batteries and even a small screwdriver to change them. This is why many ask, “**cfa can i use two calculators**?”—a backup is the safest bet.
- Test Center Variations: While the CFA Institute sets the policy, some test center staff (e.g., at Prometric) have been reported to inconsistently enforce the “two calculator” rule. However, the official stance from the Institute is that two approved calculators are fine.
- No Sharing or Borrowing: The policy is absolute on this point. You must bring your own calculator. You cannot share with another candidate or borrow one from the test center under any circumstances.
- Physical Condition: While not an official rule, your calculator should be in good working order. Worn keypads or a faulty display can cost you precious time. Owning a reliable calculator is a small but crucial part of your overall investment in the CFA program. Explore a CFA candidate resources page for more study aids.
Frequently Asked Questions (FAQ)
Yes. You are permitted and even encouraged to bring two calculators to the exam, as long as both are models approved by the CFA Institute (i.e., a TI BA II Plus and/or an HP 12C).
The only two approved models are the Texas Instruments BA II Plus (including the Professional version) and the Hewlett Packard 12C (including its Platinum and other anniversary editions).
If you bring an unapproved calculator, it will be confiscated, and you will not be allowed to use it. If you use it without the proctors noticing, your exam results will be voided. For more on rules, see the CFA Institute policies.
The Professional version has a few extra functions (like Net Future Value), a sturdier build, and a slightly higher price. For most candidates, the standard version is perfectly sufficient. However, many prefer the feel and extra features of the Pro model.
The HP 12C is a classic in the finance industry and uses Reverse Polish Notation (RPN), which can be faster for complex calculations once mastered. Many seasoned finance professionals are accustomed to it. However, it has a steeper learning curve than the TI model.
It is highly recommended. A new calculator is a small investment compared to the overall cost of the CFA exam and ensures you have a reliable device with fresh batteries, avoiding risks associated with older, used models. A good CFA calculator recommendation can guide your purchase.
You cannot bring the full instruction manual. However, the small, original keystroke cards that come with the calculator are permitted, as are calculator covers.
The most important thing is to own at least one of the approved models well before the exam, practice with it extensively so you are proficient, and bring it (ideally with a backup) on exam day. Relying on an unfamiliar or unapproved device is a significant risk. Find an best CFA exam calculator review for more comparisons.