Cfa Approved Calculators

Instantly verify if your financial calculator is permitted for use on the CFA® exam.

Calculator Approval Tool

Approved Calculator Models Overview

Manufacturer	Base Model	Permitted Variations
Texas Instruments	BA II Plus	BA II Plus Professional
Hewlett Packard	12C	12C Platinum, 12C Platinum 25th Anniversary, 12C 30th Anniversary, 12C Prestige

Table: Official List of All CFA Institute Approved Calculators.

What are CFA Approved Calculators?

CFA approved calculators are the only electronic calculator models that the CFA Institute permits candidates to 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 communication capabilities. Possessing or using a non-approved calculator during the exam will lead to the voiding of your exam results. Therefore, understanding which cfa approved calculators are allowed is a critical part of exam preparation.

The primary users of this policy are, of course, CFA candidates at all three levels. A common misconception is that any professional financial calculator is acceptable. This is false. The CFA Institute specifies only two base models from two manufacturers, though certain variations of those models are also permitted. Familiarity with one of the cfa approved calculators is essential for efficiently tackling the quantitative problems on the exam.

CFA Approved Calculators Policy and Explanation

The “formula” for determining if a calculator is approved is not a mathematical equation, but a policy-based rule set. The CFA Institute explicitly lists the only models allowed. Our checker tool automates this policy check. The core logic involves comparing the user-entered model name against a database of keywords associated with the approved models. Many candidates ask about the policy for cfa approved calculators, and it is vital to know it well.

The policy for cfa approved calculators is straightforward. Below is a breakdown of the criteria:

Variable	Meaning	Unit	Typical Range
Manufacturer	The brand of the calculator.	Text	Texas Instruments OR Hewlett Packard
Base Model	The core model name.	Text	BA II Plus OR 12C
Permitted Variations	Specific sub-models that are also allowed.	Text	Professional, Platinum, Anniversary Editions, etc.
Prohibited Features	Any feature that disqualifies a calculator.	N/A	Communication, text storage, programming beyond keystrokes.

Table: Criteria for evaluating CFA approved calculators.

Practical Examples (Real-World Use Cases)

Example 1: A Permitted Calculator

A CFA Level I candidate owns a “Texas Instruments BA II Plus Professional”. They are unsure if the “Professional” version is allowed.

• Input: They type “TI BA II Plus Pro” into the calculator checker.
• Logic: The tool normalizes the input to “tiba2pluspro” and finds matches for “ti”, “ba2plus”, and “pro”.
• Output: The result is “Approved”. The tool confirms that the BA II Plus Professional is a permitted variation. This gives the candidate confidence to continue practicing with their device. Mastering one of the cfa approved calculators is key to success.

Example 2: A Non-Permitted Calculator

Another candidate has a “Casio fx-991EX”, a popular scientific calculator. They wonder if its financial functions are sufficient.

• Input: They type “Casio fx-991EX” into the checker.
• Logic: The tool normalizes the input and finds no matches for “texas instruments,” “hewlett packard,” “ba ii plus,” or “12c.”
• Output: The result is “Not Approved”. The candidate now knows they must purchase one of the official cfa approved calculators and start practicing with it immediately to be ready for exam day.

How to Use This CFA Approved Calculators Calculator

Using this tool is a simple process designed to give you an instant and clear answer. Follow these steps:

1. Enter Model Name: In the input field labeled “Calculator Model Name,” type the name of your calculator. You can be general (e.g., “HP 12C”) or specific (e.g., “HP 12C Platinum 25th anniversary”).
2. Review Real-Time Results: As you type, the results will update automatically. The primary result box will show “Approved” in green or “Not Approved” in red.
3. Check Intermediate Values: Below the main result, you can see how the tool interpreted your input (Normalized Input) and which model it matched (if any). This helps clarify why a decision was made. Checking your model against the list of cfa approved calculators is a crucial first step.
4. Reset or Copy: Use the “Reset” button to clear the field for a new search. Use the “Copy Results” button to copy a summary of the findings to your clipboard.

Key Factors That Affect CFA Approved Calculators Choice

Once you know which models are allowed, choosing between the two families of cfa approved calculators comes down to personal preference and study style. Here are six factors to consider:

1. Operating System (RPN vs. Algebraic): The HP 12C uses Reverse Polish Notation (RPN), which is faster for complex calculations once mastered but has a steep learning curve. The TI BA II Plus uses a standard algebraic system, similar to what’s taught in school, making it more intuitive for most users.
2. Functionality & Keystrokes: Both calculators cover all necessary functions for the exam (TVM, NPV, IRR). However, the keystrokes to access these functions differ significantly. The TI is often considered more straightforward for functions like cash flow worksheets.
3. Price: The TI BA II Plus models are generally less expensive than the HP 12C models. For many candidates, this makes the TI the default choice among the cfa approved calculators.
4. Build Quality and Feel: The HP 12C Platinum and the TI BA II Plus Professional are known for having better build quality and more responsive keys than their standard counterparts. This can make a difference during a long and stressful exam.
5. Battery and Reliability: Ensure your chosen calculator has fresh batteries before exam day. The TI models have a plastic build, while the HP often has a more robust feel. Both are reliable when properly maintained.
6. Familiarity and Practice: The single most important factor is how well you know your calculator. Whichever of the cfa approved calculators you choose, you must practice with it extensively until its operation becomes second nature.

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 both are cfa approved calculators. Many candidates do this for peace of mind in case of a battery failure. You cannot, however, share them.

2. What happens if I bring a non-approved calculator?

Your calculator will be inspected by proctors. If you are found with an unauthorized calculator before or during the exam, it will be confiscated, and your exam results will be voided.

3. Do I need the “Professional” or “Platinum” version?

No, the standard versions (TI BA II Plus and HP 12C) are sufficient. The advanced models offer a few extra functions (like Net Future Value or more cash flow entries) and better build quality, which some candidates find helpful, but they are not required.

4. Should I choose the TI BA II Plus or the HP 12C?

The vast majority of candidates use the TI BA II Plus because its algebraic entry is easier to learn. The HP 12C is preferred by some finance professionals accustomed to RPN. If you’re unsure, the TI BA II Plus is the safer and more popular choice among cfa approved calculators.

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

Yes, proctors will likely ask you to demonstrate that your calculator’s memory has been cleared before the exam begins to ensure no notes or formulas are stored.

6. Are calculator covers or manuals allowed in the testing room?

Calculator covers, keystroke cards, and loose batteries are permitted. Instruction manuals are strictly forbidden.

7. Where can I buy CFA approved calculators?

They are widely available online and in office supply stores. The CFA Institute provides links to distributors on its website but does not endorse any specific seller. It is one of the most important purchases for your exam. The choice of cfa approved calculators is limited but crucial.

8. Is a financial calculator really necessary for the CFA exam?

Absolutely. The exams are heavily quantitative, covering topics from time value of money to bond valuation and statistical analysis. Attempting the exam without one of the official cfa approved calculators would be nearly impossible.

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