Cfa Authorized Calculators

Instantly verify if your calculator is permitted for the CFA exam. This tool and guide covers the official CFA Institute calculator policy for all exam levels.

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Decision Flowchart

Authorized Calculator Comparison

Feature	Texas Instruments BA II Plus	Hewlett Packard 12C
Entry Logic	Algebraic (like a standard calculator)	Reverse Polish Notation (RPN)
Learning Curve	Lower; intuitive for new users	Steeper; requires practice to master RPN
Calculation Speed	Fast, uses worksheets for cash flows (NPV/IRR)	Potentially faster for complex multi-step problems once RPN is mastered
Key Functions	TVM, Amortization, Cash Flow Analysis (NPV, IRR), Bond Valuation, Depreciation	TVM, Amortization, Cash Flow Analysis (NPV, IRR), Bond Valuation, Depreciation
Common User	Widely popular among students and candidates due to ease of use	A long-time favorite of finance professionals and RPN enthusiasts
Price Point	Generally more affordable	Typically more expensive

A comparison of the two families of cfa authorized calculators.

What are CFA Authorized Calculators?

CFA authorized calculators are the only electronic calculating devices permitted by the CFA Institute for use during the Chartered Financial Analyst (CFA) exams. The policy is extremely strict to ensure fairness and prevent any candidate from having an unfair advantage through devices with text-storage or programming capabilities. Understanding the list of cfa authorized calculators is a critical step in exam preparation. Failing to bring an approved calculator, or bringing a non-approved one, can lead to disqualification.

This policy simplifies the exam process by standardizing the tools available. All candidates, regardless of their background, use one of two models, ensuring a level playing field. The primary users of this policy are, of course, CFA candidates at all three levels. A common misconception is that the “Professional” version of the TI BA II Plus has more functions that are necessary for the exam; in reality, both the standard and professional versions are sufficient. The choice between the approved cfa authorized calculators often comes down to personal preference and familiarity.

The CFA Calculator Policy: Rules and Logic

Instead of a mathematical formula, the evaluation of cfa authorized calculators is based on a logical rule-set defined by the CFA Institute. The core rule is that only two families of calculators are permitted. Any calculator not on this specific list is, by default, prohibited.

The logic is a simple check: Does the calculator model belong to the ‘Texas Instruments BA II Plus’ family OR the ‘Hewlett Packard 12C’ family? If yes, it is authorized. If no, it is not. This binary check prevents the use of more advanced calculators with features like graphing, internet connectivity, or symbolic equation solving. Our CFA exam calculator checker automates this logical process for you.

Variable	Meaning	Unit	Permitted Values / Models
Brand	The manufacturer of the calculator.	Text	Texas Instruments, Hewlett Packard
Model Family	The specific series of the calculator.	Text	BA II Plus, 12C
Authorization Status	The final decision on whether the calculator is allowed.	Boolean (Yes/No)	Authorized, Not Authorized

Practical Examples of Using the Checker

Understanding how the policy applies in practice is crucial. Here are two real-world examples using our cfa authorized calculators verification tool.

Example 1: A Common Approved Calculator

• Input: A candidate types “Texas Instruments BA II Plus” into the checker.
• Logic: The tool recognizes the keywords “Texas Instruments” and “BA II Plus”.
• Output: The result is “Authorized”. The explanation confirms this is one of the two approved models for the CFA exam.

Example 2: A Common Unapproved Calculator

• Input: A student preparing for the exam enters their high school calculator, “Casio FX-9750GII”.
• Logic: The tool does not find “BA II Plus” or “12C” in the input string. It determines the model is outside the approved list.
• Output: The result is “Not Authorized”. The tool explains that only specific TI and HP models are permitted, and graphing calculators like this Casio are strictly forbidden. This gives the candidate essential information to purchase one of the required cfa authorized calculators.

How to Use This CFA Authorized Calculators Calculator

Using this tool is straightforward and designed to give you an instant, clear answer. Follow these steps:

1. Enter the Model: Type the full model name of your calculator into the input field. For best results, include the brand (e.g., “HP 12C Platinum”).
2. Check the Status: As you type, the tool will automatically update the status. You can also click the “Check Status” button for a manual check.
3. Review the Result: The primary result box will turn green for “Authorized” or red for “Not Authorized”.
4. Read the Details: The section below the result provides a clear explanation and always lists the specific models that are part of the official CFA calculator policy.
5. Plan Accordingly: If your calculator is not authorized, use the information and comparison table on this page to decide which of the cfa authorized calculators to purchase for your studies. A tool like our investment analysis calculators can help you practice.

Key Factors in the CFA Calculator Policy

The CFA Institute’s policy on cfa authorized calculators is based on several key principles designed to maintain the integrity of the exam.

• Fairness: The most important factor. By limiting the choice to two models, the Institute ensures no candidate has a technological edge.
• No Alphanumeric Text Storage: The approved calculators cannot store notes or formulas, preventing cheating.
• No Programming Capabilities: Models that allow users to write and save custom programs are forbidden. The functions must be built-in.
• No Graphing Capabilities: To keep the focus on analytical skill rather than visual interpretation from a machine, graphing calculators are banned.
• Sufficient Functionality: Both the TI BA II Plus and HP 12C have all the necessary functions for time value of money, cash flow analysis, and statistical calculations required by the curriculum. You can learn more with our financial modeling courses.
• Longevity and Reliability: The HP 12C, in particular, has been a financial industry standard for decades, proving its reliability. The policy favors established, well-understood tools. Knowing your tool is a key part of the exam day checklist.

Frequently Asked Questions (FAQ)

1. Can I bring two calculators to the exam?

Yes, the CFA Institute allows you to bring a second approved calculator as a backup.

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

Yes, proctors may inspect your calculator, and you should clear its memory to be safe.

3. Is the TI BA II Plus Professional version better than the standard one?

The Professional version has a few extra features (like NFV and modified duration) and a slightly better build, but the standard version is 100% sufficient for passing the exam.

4. Why is the HP 12C so popular with professionals?

Its use of RPN (Reverse Polish Notation) allows for very fast calculations once mastered, making it efficient for complex, multi-step problems.

5. I have an older HP 12C model. Is it still allowed?

Yes, the policy includes the original HP 12C as well as newer editions like the Platinum and anniversary editions, making them valid cfa authorized calculators.

6. Can I share my calculator with another candidate?

No. Sharing calculators is strictly prohibited during the exam.

7. Are calculator covers or extra batteries allowed in the testing room?

Yes, you are permitted to bring calculator covers, keystroke cards, and loose batteries. However, instruction manuals are not allowed.

8. What happens if I’m caught with a non-approved calculator?

Using or even possessing an unauthorized calculator during the exam can result in the voiding of your exam results.

Related Tools and Internal Resources

Continue your CFA preparation with these helpful resources:

• Level 1 Study Prep Guide: A comprehensive overview of the Level 1 curriculum and study strategies.
• Portfolio Management Simulators: Practice portfolio allocation and risk management concepts.
• CFA Ethics and Professional Standards Guide: An essential resource for mastering the ethics portion of the exam.
• Investment Analysis Calculators: A suite of tools for practicing various financial calculations beyond just the cfa authorized calculators themselves.