Preparing for the CFA exam is already stressful enough you don’t want to be caught off guard by something as simple as calculator rules on exam day. If you’re wondering, “Can I use a calculator on the CFA exam?”, the short answer is YES.
However, not all calculators are allowed. The CFA Institute has strict rules about which calculators you can use, and failing to follow them could result in unnecessary stress or even disqualification from the exam.
In this guide, we’ll cover:
Which calculators are allowed
Why the CFA Institute restricts calculator models
Best CFA-approved calculator to use
Calculator tips & tricks to save time during the exam
Frequently asked questions
By the end of this article, you’ll be fully prepared to tackle your CFA exam without any calculator-related surprises!
Which Calculators Are Allowed on the CFA Exam?
The CFA Institute strictly limits calculator use to just two approved models:
-
Texas Instruments BA II Plus (including BA II Plus Professional)
-
Hewlett Packard 12C (including the HP 12C Platinum, Anniversary Edition, and Prestige models)
These are the ONLY calculators you can bring into the exam room. Any other model no matter how similar will not be allowed.
Why Are Only These Calculators Allowed?
The CFA Institute wants to:
✅ Ensure fairness everyone has access to the same functions.
✅ Prevent cheating some advanced calculators can store text and formulas.
✅ Keep things simple so candidates focus on finance concepts, not learning a new calculator.
If you show up with an unapproved calculator, you won’t be allowed to use it, and that could seriously hurt your chances of passing.
Which CFA-Approved Calculator Should You Use?
If you’re unsure which calculator to choose, here’s a quick comparison:
|
Feature |
Texas Instruments BA II Plus |
Hewlett Packard 12C |
|---|---|---|
|
Ease of Use |
Beginner-friendly |
More complex, uses RPN notation |
|
Functions |
Covers all CFA-required functions |
Also covers all required functions |
|
Price |
More affordable ($30-$50) |
More expensive ($60-$120) |
|
Popularity |
Most CFA candidates use this |
Preferred by professionals in finance |
Our Recommendation?
If you’re new to financial calculators, go for the Texas Instruments BA II Plus. It’s easier to use and widely recommended by CFA candidates.
However, if you’re already familiar with the HP 12C or work in a finance role that requires it, then stick with what you know!
Pro Tips for Using Your CFA Calculator
Now that you know which calculator to use, let’s talk about how to use it effectively for the exam.
1. Learn Your Calculator Inside Out
The CFA exam is time-pressured, and you can’t afford to waste time figuring out how to enter calculations. Make sure you:
Know how to perform TVM (Time Value of Money) calculations
Understand how to use cash flow & statistical functions
Are comfortable with bond pricing and depreciation functions
2. Use a Backup Calculator
Since you can bring up to two calculators, it’s a smart move to bring a backup in case your primary one malfunctions.
3. Reset Your Calculator Before the Exam
Before the exam starts, make sure to reset your calculator to clear out any saved settings. This ensures you don’t run into unexpected errors while calculating.
4. Practice, Practice, Practice!
Don’t just use your calculator a few days before the exam integrate it into your study routine. The more comfortable you are with it, the faster you’ll be on exam day.
Frequently Asked Questions (FAQs)
1. Can I bring two calculators to the CFA exam?
Yes! You’re allowed to bring two approved calculators in case one fails.
2. What happens if I bring an unapproved calculator?
If you bring a non-approved calculator, you won’t be able to use it, and the exam proctors won’t provide a replacement. This could severely impact your ability to complete the exam.
3. Can I write formulas or notes on my calculator?
No. Writing formulas or notes on your calculator is considered a violation of CFA exam rules, and you could be disqualified.
4. Do I need to remove the calculator’s cover?
No, you’re allowed to keep the calculator’s protective cover, as long as it’s not being used to store notes.
5. Are solar-powered calculators allowed?
Yes, the HP 12C Platinum is solar powered, and it's CFA approved. However, it’s always good to bring a battery-powered backup.
Final Thoughts – Be Prepared!
Your CFA calculator is your best friend during the exam make sure you choose the right one, learn how to use it efficiently, and bring a backup just in case.
At TakeMyCFAExam.com, we’re here to help you succeed with expert tips, study resources, and guidance on everything CFA-related.
Got any more CFA exam questions? Drop them in the comments below we’d love to help.
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