CFA Calculators Allowed

CFA Exam Calculator Policy Checker

Select your calculator model from the list below to instantly verify if it is one of the cfa calculators allowed by the CFA Institute for the exam. This tool helps ensure you are compliant with the strict cfa calculators allowed policy.

Logic Explanation

This checker cross-references your selection against the official CFA Institute list of cfa calculators allowed. The policy exclusively permits two models: the Texas Instruments BA II Plus and the Hewlett Packard 12C, including their specific variations.

Approved Calculator Comparison

While the list of cfa calculators allowed is short, the two approved models have key differences in operation and features. Understanding them is crucial for exam day efficiency.

Feature Comparison: TI BA II Plus vs. HP 12C

Feature	Texas Instruments BA II Plus	Hewlett Packard 12C
Input Method	Algebraic Operating System (AOS)	Reverse Polish Notation (RPN)
Learning Curve	Easier for beginners, more intuitive.	Steeper learning curve, but faster for experts.
Key Functions	Dedicated keys for TVM, NPV, IRR.	Fewer keystrokes for complex calculations once mastered.
Typical Cost	More affordable (~$30-55).	More expensive (~$60-70).
Build Quality	Generally plastic feel. Professional version is more solid.	Sturdy, “industrial strength” build.

In-Depth Guide to the CFA Calculator Policy

What are the CFA Calculators Allowed?

The term “cfa calculators allowed” refers to the very specific, limited list of calculator models that the CFA Institute permits candidates to use during the official CFA exams. This policy is strictly enforced to ensure fairness and prevent any candidate from having an unfair advantage through advanced calculator functionalities. Use or possession of an unauthorized calculator can lead to voiding of exam results. For all levels of the CFA exam, only two models are authorized: the Texas Instruments BA II Plus (including the Professional version) and the Hewlett Packard 12C (including its Platinum, Prestige, and anniversary editions).

This policy on cfa calculators allowed means that graphic calculators, programmable calculators, or any device with internet or communication capabilities are strictly forbidden. The primary users of this policy are CFA candidates, who must purchase and become proficient with one of the approved models long before their exam date. A common misconception is that any financial calculator will suffice, but the CFA Institute’s rules are absolute.

CFA Calculator Policy Explained

The core of the policy is standardization. By limiting the cfa calculators allowed, the Institute ensures every candidate works with a similar set of tools, making the exam a test of financial knowledge, not calculator-operating speed. The “formula” is a simple binary check: is the calculator on the approved list or not? Anything else is rejected.

Policy Variables: The Approved Models

Variable (Model Name)	Meaning	Key Characteristic	Typical User
Texas Instruments BA II Plus	An approved financial calculator.	Algebraic (standard) input method.	Beginners or those used to standard calculators.
Hewlett Packard 12C	An approved financial calculator.	Reverse Polish Notation (RPN) input.	Experienced finance professionals, RPN fans.
Unauthorized Calculator	Any model not explicitly on the list.	Varies (e.g., graphing, programmable).	Not permitted in the exam room.

Practical Examples (Real-World Scenarios)

Example 1: The Prepared Candidate
A candidate arrives with a TI BA II Plus Professional and a spare set of batteries. They have practiced with this model for months. During the exam, they efficiently calculate Net Present Value (NPV) and bond yields, saving valuable time. Their choice is compliant with the cfa calculators allowed policy, and they face no issues.

Example 2: The Unprepared Candidate
Another candidate brings a TI-84, a powerful graphing calculator they used in college. During the pre-exam inspection, the proctor identifies it as an unauthorized model. The calculator is confiscated, and the candidate must take the exam without one, severely jeopardizing their chance of passing. This illustrates the critical importance of adhering to the list of cfa calculators allowed.

How to Use This CFA Calculator Checker

Using this tool is a simple, crucial step in your exam preparation. Adhering to the cfa calculators allowed policy is non-negotiable.

1. Select Your Model: Choose your calculator model from the dropdown menu. The list includes both approved and common non-approved models for clarity.
2. Check Status: The result will instantly appear. “Approved” means you are safe for the exam. “Not Approved” means you must purchase a new, compliant calculator immediately.
3. Review Details: The results box provides context based on the official list of cfa calculators allowed, so you understand why a model is or isn’t permitted.

Key Factors That Affect Your Calculator Choice

When selecting from the short list of cfa calculators allowed, several factors come into play:

• Familiarity (Input Method): The biggest factor. The TI BA II Plus uses the AOS method (e.g., 2 + 2 = 4), which is familiar to most people. The HP 12C uses RPN (e.g., 2 Enter 2 +), which is faster for complex calculations but requires learning.
• Cost: The TI models are generally more affordable than the HP models. This can be a deciding factor for candidates on a tight budget.
• Keystroke Efficiency: For those who master RPN, the HP 12C can solve problems with fewer keystrokes, potentially saving crucial seconds during the exam.
• Build Quality: The HP 12C is often cited for its professional, durable build quality compared to the more plastic feel of the TI models.
• Guidance and Prep Materials: Most CFA prep providers, like Kaplan Schweser, base their calculator tutorials on the TI BA II Plus because of its popularity.
• Battery Replacement: Candidates are allowed to bring spare batteries and a small screwdriver. The ease of changing batteries could be a minor consideration.

Frequently Asked Questions (FAQ)

1. 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 from the list of cfa calculators allowed.

2. Are calculator instruction manuals or keystroke cards allowed?

Calculator covers and loose keystroke cards are permitted, but instruction manuals are strictly forbidden.

3. What happens if I bring the wrong calculator?

Your unauthorized calculator will be confiscated, and you may have to take the exam without one. In severe cases, your exam results could be voided.

4. Why are graphing calculators not on the list of cfa calculators allowed?

Graphing and programmable calculators are forbidden to prevent the storing of formulas or text, ensuring a level playing field for all candidates. The policy on cfa calculators allowed prioritizes fairness.

5. Is the TI BA II Plus Professional version approved?

Yes, both the standard TI BA II Plus and the BA II Plus Professional are on the list of cfa calculators allowed.

6. Do I need to clear my calculator’s memory before the exam?

Yes, the CFA Institute advises that you reset your calculator’s memory before the exam begins. Proctors may inspect your calculator.

7. Which calculator is better, TI or HP?

This is a personal preference. The TI is easier to learn for most people, while the HP is potentially faster for experts. Both are fully capable of performing all necessary exam calculations. Your choice should be from the official cfa calculators allowed list.

8. Can I borrow a calculator at the test center?

No, test centers do not provide calculators, and borrowing from another candidate is strictly prohibited. You must bring your own approved calculator.