Cfa Allowed Calculators

Are you prepared for the CFA exam? Ensure your success by using one of the official CFA allowed calculators. Use our simple checker tool below to instantly verify if your model is compliant with the strict CFA calculator policy. Read on for a detailed breakdown of the rules, approved models, and tips for exam day.

CFA Calculator Policy Checker

Policy Basis: The CFA Institute authorizes only two specific calculator models to ensure fairness and prevent the use of devices with programming or communication capabilities. The check is based on whether your input matches the approved models: the Texas Instruments BA II Plus family or the Hewlett Packard 12C family.

What Are CFA Allowed Calculators?

CFA allowed calculators are specific models of financial calculators that the CFA Institute has officially approved for use during the Chartered Financial Analyst (CFA) exams. The policy is incredibly strict: only two base models are permitted. This rule ensures a level playing field for all candidates, preventing any unfair advantage that might come from using more advanced, programmable, or communicating calculators. For anyone sitting for the exam, using an approved calculator is not just a recommendation; it is a mandatory requirement.

This policy is for everyone, from Level I candidates to those sitting for Level III. The proctors inspect all calculators before the exam begins, and possession of a non-authorized model can lead to severe penalties, including the voiding of your exam results. Common misconceptions include thinking that any financial calculator is fine, or that a calculator app on a phone or tablet is a permissible backup. Both are strictly forbidden.

CFA Calculator Policy: The “Formula” Explained

The “formula” for determining if a calculator is allowed isn’t a mathematical equation, but a strict set of rules defined by the CFA Institute. The core principle is that the device must be one of two specific models or their approved variations. This policy on CFA allowed calculators ensures exam integrity.

Below is a breakdown of the policy’s components.

CFA Calculator Policy Components

Policy Component	Meaning	Permitted Models	Typical Range of Application
Base Model 1	The device must be a Texas Instruments BA II Plus.	BA II Plus, BA II Plus Professional	All CFA Exam Levels (I, II, III)
Base Model 2	The device must be a Hewlett Packard 12C.	HP 12C, HP 12C Platinum, anniversary editions	All CFA Exam Levels (I, II, III)
Non-Programmability	Calculators with extensive programming or text/formula storage capabilities are forbidden.	TI-83, TI-84, and similar are NOT allowed.	Applies to all graphing and scientific calculators.
No Communication	The device must not have any wireless or communication features (e.g., Wi-Fi, Bluetooth).	Calculator apps on phones/watches are NOT allowed.	Applies to all personal electronic devices.

This table outlines the core rules governing the use of CFA allowed calculators during the exam.

Practical Examples (Real-World Use Cases)

Example 1: Candidate with a non-approved calculator

A candidate, Alex, arrives at the test center with a TI-84 Plus, a powerful graphing calculator used in many college courses. During the pre-exam inspection, the proctor identifies the calculator as a non-approved model because of its graphing and programmability features.

Input: TI-84 Plus

Output: Not Approved

Interpretation: Alex is not permitted to use the calculator. Since Alex did not bring a backup from the list of CFA allowed calculators, they must take the exam without one, severely jeopardizing their chances of passing.

Example 2: Candidate with an approved calculator

Another candidate, Brenda, brings her Texas Instruments BA II Plus Professional. She also has a spare HP 12C Platinum in her bag, just in case. The proctor inspects her BA II Plus.

Input: Texas Instruments BA II Plus Professional

Output: Approved

Interpretation: Brenda’s calculator is compliant with the CFA calculator policy. She is permitted to use it for the exam. Her decision to bring a second approved model is a wise backup strategy.

How to Use This CFA Allowed Calculators Checker

Using our calculator is straightforward and designed to give you an instant, clear answer.

1. Enter Model Name: Type the name of your calculator (e.g., “HP 12C”) into the input field.
2. Check Status: Click the “Check Status” button. The tool will immediately process the input.
3. Read Results: The result box will change color and text to show “Approved” (green) or “Not Approved” (red).
4. Review Details: For approved models, additional information about the model family and input system will appear below the main result.
5. Decision-Making: If your calculator is not approved, you must purchase one of the CFA allowed calculators before your exam day. Consider our internal guide on choosing a financial calculator for more help.

Key Factors That Affect Your Choice of Calculator

Even within the limited list of CFA allowed calculators, there are factors to consider when choosing between the TI BA II Plus and the HP 12C.

• Entry System (AOS vs. RPN): This is the biggest difference. The TI BA II Plus uses an Algebraic Operating System (AOS), where you enter equations as you write them (e.g., 2 + 3 * 4). The HP 12C uses Reverse Polish Notation (RPN), which is more efficient for complex, multi-step calculations but has a steeper learning curve (e.g., 3 Enter 4 * 2 +).
• Familiarity and Learning Curve: Most students find the TI BA II Plus more intuitive and easier to learn, as it operates like most standard calculators. The HP 12C can feel alien to new users but is often preferred by seasoned finance professionals.
• Keystroke Efficiency: Once mastered, RPN on the HP 12C can solve problems with fewer keystrokes than AOS, which can save valuable seconds during the exam.
• Specific Functions: While both perform all necessary functions for the exam, the keystrokes to access them differ. For instance, the BA II Plus has dedicated worksheets for functions like depreciation and bond valuation, which many find user-friendly.
• Cost and Availability: The TI BA II Plus is generally less expensive and more widely available than the HP 12C.
• Build Quality and Feel: The HP 12C, particularly the Platinum edition, is often praised for its professional feel and robust build quality. The BA II Plus Professional is a step up from the standard version in this regard.

Frequently Asked Questions (FAQ)

1. Can I bring two calculators to the CFA exam?

Yes, you are allowed to bring more than one calculator, as long as each one is an approved model. This is a highly recommended strategy in case of a battery failure or malfunction.

2. What happens if my calculator’s battery dies during the exam?

Proctors and test centers will not provide spare batteries or calculators. If you do not have a backup, you will have to complete the exam without one. You are allowed to bring spare batteries and a small screwdriver to change them if needed.

3. Is the “Professional” or “Platinum” version of the CFA allowed calculators required?

No, the standard versions (TI BA II Plus and HP 12C) are perfectly sufficient. The professional/platinum versions offer some extra functions (like MIRR and NFV on the BA II Plus Pro) and often better build quality, but are not necessary to pass.

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

Yes, proctors will likely ask you to show them that you have cleared the memory of your calculator before the exam starts to ensure no formulas or notes are stored.

5. Are calculator covers or keystroke cards allowed?

Yes, calculator covers and keystroke cards that come with the calculator are generally permitted in the testing room. However, instruction manuals are strictly forbidden.

6. Can I use a calculator app on my phone?

No. Use of any mobile phone, tablet, or smart device as a calculator is strictly prohibited and would violate the exam calculator rules.

7. Why are these specific CFA allowed calculators chosen?

They are chosen because they have the necessary financial functions without the advanced programming or communication features that could compromise exam integrity.

8. What is the difference between RPN and Algebraic entry?

Algebraic (TI BA II Plus) follows the standard order of operations. RPN (HP 12C) requires you to enter numbers first, then the operation, which can be faster for complex calculations once you learn it.