CFA Permitted Calculators: Your Essential Guide & Checker
Quickly verify if your financial calculator is approved for the CFA exam.
CFA Permitted Calculator Checker
Use this tool to determine if your calculator model is permitted for the CFA exam. Select your calculator brand and enter the model number to get an instant verification.
Choose the manufacturer of your financial calculator.
Enter the specific model name or number (e.g., BA II Plus, 12C Platinum).
Select a feature to see its relevance in permitted calculators (for chart visualization).
Verification Results
Permitted Status:
N/A
Permitted Models for Selected Brand: N/A
Key Allowed Features: N/A
Disallowed Features (General): N/A
| Brand | Model | Notes |
|---|---|---|
| Texas Instruments | BA II Plus (including BA II Plus Professional) | The most commonly used financial calculator. Both standard and professional versions are permitted. |
| Hewlett Packard | 12C (including HP 12C Platinum) | A classic financial calculator, known for its Reverse Polish Notation (RPN). Both standard and platinum versions are permitted. |
| Any Other | N/A | No other brands or models are permitted for the CFA exam. |
What are CFA Permitted Calculators?
The CFA Institute maintains a strict policy regarding the use of calculators during the Chartered Financial Analyst (CFA) exams. This policy is in place to ensure fairness and prevent any candidate from having an unfair advantage due to advanced calculator functionalities. Essentially, CFA permitted calculators are a very specific, limited set of financial calculators that candidates are allowed to bring into the exam hall. Understanding which calculators are permitted is crucial for every CFA candidate.
Who Should Use This CFA Permitted Calculators Checker?
- All CFA Candidates: Before registering for or sitting for any level of the CFA exam, every candidate should verify their calculator.
- New Students: Those just beginning their CFA journey and looking to purchase a calculator.
- Experienced Professionals: Even if you’ve used a financial calculator for years, it’s vital to ensure it aligns with the specific CFA permitted calculators list.
- Anyone with Doubts: If you’re unsure about your calculator’s model or brand, this tool provides clarity.
Common Misconceptions about CFA Permitted Calculators
Many candidates hold misconceptions that can lead to issues on exam day:
- “Any financial calculator is fine.” This is false. Only two specific brands and their designated models are allowed.
- “My calculator has a financial mode, so it’s permitted.” Not necessarily. The allowance is based on the exact model, not just its capabilities.
- “I can use a scientific calculator.” No, only approved financial calculators are permitted. Scientific calculators, even if they have some financial functions, are generally not allowed unless they are one of the two specific models.
- “Programmable calculators are okay if I clear the memory.” Absolutely not. Programmable calculators, or those with text storage capabilities, are strictly prohibited, regardless of whether their memory is cleared.
CFA Permitted Calculators Rules and Criteria Explanation
Unlike a typical mathematical formula, the “formula” for CFA permitted calculators is a set of stringent rules and criteria established by the CFA Institute. These rules dictate which calculator models are acceptable for use during the exam. The primary goal is to prevent any calculator from providing an unfair advantage through advanced features like text storage, programming capabilities, or excessive memory.
Step-by-Step Criteria for Permitted Calculators:
- Brand Restriction: The calculator must be manufactured by either Texas Instruments or Hewlett Packard.
- Model Restriction:
- For Texas Instruments: Only the BA II Plus (including the BA II Plus Professional) is permitted.
- For Hewlett Packard: Only the HP 12C (including the HP 12C Platinum) is permitted.
- Feature Limitations: Calculators with the following features are strictly prohibited:
- Programmability (the ability to store and execute user-defined programs).
- Text storage capabilities (the ability to store notes, formulas, or other text).
- QWERTY keyboard.
- Wireless communication capabilities.
- Camera or video recording functions.
- Any device that can access the internet or external data.
- Power Source: Calculators must be battery-powered and silent.
Variables Table: Key Criteria for CFA Permitted Calculators
| Criterion | Meaning | Unit/Type | Typical Range/Status |
|---|---|---|---|
| Brand | Manufacturer of the calculator. | Text | Texas Instruments, Hewlett Packard (only) |
| Model | Specific product name/number. | Text | BA II Plus (Pro/Std), HP 12C (Platinum/Std) (only) |
| Programmability | Ability to store and run user-defined programs. | Boolean | NOT Permitted (False) |
| Text Storage | Ability to store text/notes. | Boolean | NOT Permitted (False) |
| QWERTY Keyboard | Presence of a full alphanumeric keyboard. | Boolean | NOT Permitted (False) |
| Wireless/Internet | Connectivity features. | Boolean | NOT Permitted (False) |
Practical Examples of CFA Permitted Calculators Use Cases
Understanding the rules for CFA permitted calculators is best illustrated with practical scenarios. Here are a couple of examples:
Example 1: Checking a Texas Instruments BA II Plus Professional
A candidate, Sarah, owns a Texas Instruments BA II Plus Professional. She wants to confirm it’s permitted.
- Input:
- Calculator Brand: Texas Instruments
- Calculator Model: BA II Plus Professional
- Output:
- Permitted Status: PERMITTED
- Permitted Models for Selected Brand: BA II Plus (Standard & Professional)
- Key Allowed Features: Time Value of Money (TVM), Cash Flow (CF), Net Present Value (NPV), Internal Rate of Return (IRR), statistical functions.
- Disallowed Features: Programmability, text storage, QWERTY keyboard.
- Interpretation: Sarah’s calculator is fully compliant with the CFA Institute’s policy on CFA permitted calculators. She can confidently bring it to her exam.
Example 2: Checking a Casio FX-991EX Scientific Calculator
Another candidate, David, primarily uses a Casio FX-991EX scientific calculator for his university courses, which has some financial functions. He wonders if it’s allowed.
- Input:
- Calculator Brand: Other
- Calculator Model: Casio FX-991EX
- Output:
- Permitted Status: NOT PERMITTED
- Permitted Models for Selected Brand: N/A (Casio is not a permitted brand)
- Key Allowed Features: N/A (as it’s not a permitted calculator)
- Disallowed Features: Any brand other than TI or HP, regardless of specific model features.
- Interpretation: Despite having some financial capabilities, David’s Casio calculator is not on the list of CFA permitted calculators. He must acquire either a Texas Instruments BA II Plus or an HP 12C before his exam.
How to Use This CFA Permitted Calculators Calculator
Our CFA Permitted Calculator Checker is designed for ease of use, providing quick and accurate verification of your calculator’s eligibility for the CFA exam.
Step-by-Step Instructions:
- Select Calculator Brand: From the “Calculator Brand” dropdown menu, choose the manufacturer of your calculator. Your options are “Texas Instruments,” “Hewlett Packard,” or “Other Brand.”
- Enter Calculator Model: In the “Calculator Model” text field, type the exact model name or number of your calculator. For example, if you selected “Texas Instruments,” you might type “BA II Plus Professional.”
- (Optional) Select Feature Focus: Use the “Feature Focus” dropdown to highlight certain features in the accompanying chart. This doesn’t affect the calculator’s permitted status but provides a visual aid.
- Check Status: The calculator will automatically update the “Permitted Status” as you type or select. You can also click the “Check Status” button to manually trigger the calculation.
- Reset: To clear all inputs and start over, click the “Reset” button.
- Copy Results: If you wish to save or share the verification results, click the “Copy Results” button. This will copy the main status and intermediate values to your clipboard.
How to Read Results:
- Permitted Status: This is the primary result, displayed prominently. It will clearly state “PERMITTED” (in green) or “NOT PERMITTED” (in red).
- Permitted Models for Selected Brand: This section will list the specific models from your chosen brand that are allowed. If your brand is “Other,” it will state “N/A.”
- Key Allowed Features: This provides a general overview of the types of functions permitted calculators typically offer (e.g., TVM, cash flow analysis).
- Disallowed Features (General): This lists common features that are strictly prohibited across all calculators for the CFA exam.
Decision-Making Guidance:
If your calculator is “NOT PERMITTED,” you must acquire one of the approved CFA permitted calculators (Texas Instruments BA II Plus or HP 12C) before your exam. Familiarize yourself with its functions well in advance. If your calculator is “PERMITTED,” ensure it is in good working order, has fresh batteries, and you know how to use its core financial functions efficiently.
Key Factors That Affect CFA Permitted Calculators Results
While the list of CFA permitted calculators is definitive, several factors influence a candidate’s choice and usage of these tools. Understanding these can help in making an informed decision beyond just compliance.
- CFA Institute Policy Updates: The most critical factor is the official policy. While historically stable, candidates should always check the latest CFA Institute guidelines for any changes to the list of CFA permitted calculators.
- Ease of Use and Learning Curve: Both the BA II Plus and HP 12C have distinct input methods (algebraic vs. RPN). A candidate’s comfort level and willingness to learn a new input style significantly affect their choice and efficiency during the exam.
- Cost and Availability: The price of CFA permitted calculators can vary. Availability in local markets or online can also be a factor, especially for international candidates.
- Battery Life and Reliability: A calculator failing during the exam is a nightmare. Candidates often consider battery life, the ease of changing batteries, and the overall robustness of the device. Always bring spare batteries!
- Specific Functionality Needs: While both permitted calculators handle core financial functions, some candidates might prefer one over the other for specific operations (e.g., bond calculations, statistical analysis) based on their study habits or professional background.
- Personal Preference and Familiarity: Ultimately, many candidates stick with the calculator they are most familiar with, provided it is one of the CFA permitted calculators. Prior experience with either TI or HP models can heavily influence the decision.
- Exam Day Stress: Under exam conditions, even simple operations can become challenging. Using a calculator you are intimately familiar with, and which is definitively a CFA permitted calculator, reduces one source of stress.
Frequently Asked Questions (FAQ) about CFA Permitted Calculators
A: Yes, the CFA Institute allows candidates to bring two of the approved CFA permitted calculators to the exam. This is highly recommended as a backup in case one malfunctions or runs out of battery.
A: You are responsible for ensuring your calculator is in working order. It is strongly advised to bring fresh batteries or a second permitted calculator as a backup. Exam proctors cannot provide batteries or calculators.
A: No. Only the specific models from Texas Instruments (BA II Plus series) and Hewlett Packard (HP 12C series) are considered CFA permitted calculators. Generic scientific calculators, even with some financial capabilities, are not allowed.
A: Absolutely not. Electronic devices such as phones, tablets, smartwatches, or any device capable of communication or text storage are strictly prohibited in the exam room.
A: While the permitted calculators do not have advanced programmable or text storage features, it’s good practice to clear any previous calculations or data. Proctors may ask you to clear it, and it ensures no residual data from practice sessions could be misinterpreted.
A: Both the standard HP 12C and the HP 12C Platinum are on the list of CFA permitted calculators. The Platinum version typically offers faster processing and more memory but adheres to the same core functionality rules.
A: CFA permitted calculators are widely available at electronics stores, office supply stores, and online retailers like Amazon. Ensure you purchase the exact model specified by the CFA Institute.
A: Bringing a non-permitted calculator can lead to immediate dismissal from the exam, invalidation of your exam results, and potential sanctions from the CFA Institute. Always double-check your calculator against the list of CFA permitted calculators.
Related Tools and Internal Resources
To further assist you in your CFA journey, explore these related resources: