Cfa Calculators Allowed

The CFA Institute enforces a strict policy on which calculator models are permitted during the exam. Using a non-approved calculator will result in your exam results being voided. Use our simple tool to instantly check if your model is one of the cfa calculators allowed.

CFA Calculator Compliance Checker

Understanding the CFA Exam Calculator Policy

Table 1: Officially Approved CFA Calculator Models

Manufacturer	Approved Model Family	Accepted Variants
Texas Instruments	BA II Plus	Standard and Professional
Hewlett Packard	12C	Classic, Platinum, 25th/30th Anniversary, Prestige

What is the “CFA Calculators Allowed” Policy?

The “CFA calculators allowed” policy refers to the strict regulation by the CFA Institute that dictates which specific calculator models candidates are permitted to use during the CFA exams. This policy is not a suggestion; it’s a mandatory rule. The primary goal is to ensure fairness and a level playing field for all candidates by standardizing the tools available. By limiting the choice to two specific families of financial calculators, the Institute prevents any candidate from gaining an unfair advantage through a device with advanced programming, graphing, or communication capabilities.

This policy should be used by every single CFA candidate, from Level I through Level III. Misunderstanding or ignoring the rules regarding cfa calculators allowed can lead to severe consequences, including the voiding of your exam. A common misconception is that any financial calculator is acceptable. This is false. Even advanced financial calculators from the same brands (like the TI-84) are strictly prohibited.

CFA Institute Calculator Policy Explained

The CFA Institute’s decision to authorize only the Texas Instruments BA II Plus and Hewlett Packard 12C models is based on a few core principles: functionality, non-programmability, and historical precedent. The policy ensures that the calculators are sophisticated enough to handle the required financial calculations (like NPV, IRR, and TVM) but lack features that could compromise exam integrity, such as text storage or advanced programming. The derivation of this rule is less mathematical and more logistical, aimed at creating a standardized, fair testing environment.

Table 2: Policy Criteria Variables

Variable	Meaning	Unit	Typical Range/Value
Approved Models	The specific calculator families permitted.	Model Name	TI BA II Plus, HP 12C
Key Functions	Essential calculation capabilities required for the exam.	Function Type	TVM, NPV, IRR, Stats, Bond Valuation
Prohibited Features	Capabilities that are not allowed.	Feature Type	Graphing, Text Storage, Wi-Fi
Inspection	Proctors will physically check the calculators.	Yes/No	Yes

Practical Examples (Real-World Use Cases)

Example 1: The Prepared Candidate

Sarah is preparing for the CFA Level I exam. Early in her studies, she purchases a Texas Instruments BA II Plus Professional. She uses our compliance checker, which confirms her model is one of the cfa calculators allowed. She spends months practicing with it, mastering the TVM, NPV, and bond functions. On exam day, the proctor inspects her calculator and waves her through. She is confident and efficient, saving valuable time on quantitative questions because she knows her tool inside and out. For more details on using your calculator, see our TI BA II Plus guide.

Example 2: The Unprepared Candidate

Mark arrives at the test center with his trusty university calculator, a TI-84 Plus. He assumes that since it’s a Texas Instruments calculator, it must be fine. The proctor inspects it, identifies it as a prohibited graphing calculator, and informs Mark he cannot take it into the exam room. Mark is left with two choices: attempt the exam without a calculator or forfeit his exam fee. This scenario highlights the critical importance of verifying your model against the list of cfa calculators allowed well before exam day.

How to Use This CFA Calculator Compliance Checker

Using our calculator is simple and designed to give you an immediate, clear answer.

1. Enter Model Name: Type the full name of your calculator into the input field. Be specific (e.g., “HP 12C Platinum” instead of just “HP”).
2. Click “Check Compliance”: Our tool will instantly compare your input against the CFA Institute’s approved list.
3. Read the Result: The result box will clearly state “Approved,” “Not Approved,” or “Model not recognized.”
   • Approved: You are safe for the exam.
   • Not Approved: You must purchase a different, compliant calculator.
   • Model not recognized: Check for typos or try a more standard name. The policy is very specific.
4. Decision-Making: If your calculator is not approved, you must acquire one of the two cfa calculators allowed. The most popular choice for new candidates is the TI BA II Plus Professional due to its ease of use. You can explore a detailed comparison of the approved calculators to make an informed choice.

Key Factors That Affect CFA Calculator Policy Results

The outcome of a calculator check is binary, but understanding the underlying factors of the policy is crucial. The list of cfa calculators allowed is not arbitrary.

• Programmability: The single biggest factor. Calculators with extensive programming or formula storage capabilities are banned to prevent cheating.
• Graphing Capabilities: Graphing calculators are forbidden as they can be used to visualize functions and potentially store information in ways that are difficult for proctors to detect.
• Alphanumeric Keypads: Devices with QWERTY-style keyboards are not allowed.
• Communication Features: Any calculator with infrared, Wi-Fi, or Bluetooth capabilities is strictly prohibited.
• Noise: Calculators must not make any audible noise. Printer-enabled calculators are not permitted.
• Power Source: Calculators must be battery-powered. Those requiring an electrical outlet are not allowed. Knowing the best calculator for the CFA exam involves understanding these limitations.

Frequently Asked Questions (FAQ)

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

Yes, you are allowed and even encouraged to bring a second, backup calculator. However, the backup must also be an approved model from the official list of cfa calculators allowed.

2. What happens if my calculator’s batteries die during the exam?

You are responsible for your equipment. Proctors will not provide batteries. You are permitted to bring loose spare batteries and a small screwdriver to change them if necessary. This is a key reason to bring a backup calculator. The CFA exam calculator policy is clear on candidate responsibility.

3. Is the TI BA II Plus Professional better than the regular BA II Plus?

The Professional version has a few extra functions (like NFV and Modified IRR), a slightly faster processor, and a more solid build quality. For most candidates, the standard version is sufficient, but the Professional is a popular upgrade.

4. I’ve used the HP 12C for years. Should I switch to the TI for the exam?

No. If you are already proficient with the HP 12C and its Reverse Polish Notation (RPN), stick with it. The learning curve for a new calculator system during exam prep is an unnecessary burden. Both models are equally capable of solving all exam questions.

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

Yes. Proctors will likely ask you to demonstrate that you have cleared the memory of your calculator before the exam begins. It’s a standard procedure to ensure no formulas or notes are stored.

6. Why are scientific or graphing calculators not on the list of cfa calculators allowed?

Because they have features that could provide an unfair advantage, such as extensive formula storage, graphing, or programmability, which violate the principles of a standardized testing environment.

7. Where can I buy one of the approved CFA calculators?

They are widely available online through retailers like Amazon, as well as directly from the Texas Instruments and HP websites. Many office supply stores also carry them. You can learn more about the approved models here.

8. Are calculator covers and keystroke cards allowed?

Yes, according to the official policy, calculator covers, keystroke cards, and loose batteries are permitted in the testing room. Instruction manuals, however, are not allowed. Mastering your calculator is part of the preparation for the exam.

Related Tools and Internal Resources

For more information on preparing for the CFA exam and using your financial calculator, explore these resources: