CFA Approved Calculators Checker
An instant tool and comprehensive guide to the official calculator policy for the CFA® exam.
Is Your Calculator Approved?
What Are CFA Approved Calculators?
CFA approved calculators are the only electronic devices you are permitted to bring into the CFA exam room. The CFA Institute maintains a very strict policy to ensure fairness and prevent any possibility of candidates using devices with text-storage or communication capabilities. If you bring a calculator that is not on the approved list, it will be confiscated, and you will have to take the exam without one, which is a significant disadvantage given the calculation-intensive nature of the questions.
There are only two authorized models, each with several accepted versions. Understanding which ones are allowed is the first step in your exam preparation. This guide and our checker tool are designed to eliminate any confusion about cfa approved calculators.
The Official List & “Formula” for Approval
There is no complex formula for approval. A calculator is either on the official list or it is not. The policy is binary. The two “families” of calculators approved are the Texas Instruments BA II Plus and the Hewlett Packard 12C.
Below is the complete list of all currently accepted models. No other models are permitted.
| Brand | Base Model | Accepted Variations |
|---|---|---|
| Texas Instruments | BA II Plus | BA II Plus Professional |
| Hewlett Packard | 12C | HP 12C Platinum, 12C Platinum 25th Anniversary Edition, 12C 30th Anniversary Edition, HP 12C Prestige |
Practical Examples of Using the Checker
Here are a few examples to show how the approval checker works:
- Input: “TI BA II Plus” → Result: APPROVED. This is the most common model.
- Input: “hp 12c platinum” → Result: APPROVED. The checker is not case-sensitive.
- Input: “Casio fx-991” → Result: NOT APPROVED. Although a capable scientific calculator, it is not on the CFA Institute’s list.
- Input: “BA2 Pro” → Result: APPROVED. The checker recognizes common abbreviations for the professional model.
How to Use This CFA Approved Calculator Checker
Using this tool is straightforward. Follow these simple steps:
- Locate the model name: Look at the front of your calculator. The model name is usually printed clearly at the top.
- Enter the model name: Type the full model name into the input field above. You don’t need to worry about capitalization.
- Check the result: Click the “Check Approval” button. The result box will instantly tell you if your calculator is on the approved list.
- Interpret the results: The tool will give a clear “APPROVED” or “NOT APPROVED” message. For approved models, it will specify which one it matched.
Key Factors That Affect Your Calculator Choice
Choosing between the two approved models, the Texas Instruments BA II Plus and the HP 12C, is a common dilemma for candidates. Here are six key factors to consider:
- Entry Mode (Algebraic vs. RPN): This is the biggest difference. The BA II Plus uses the standard algebraic operating system (like a normal calculator: 2 + 3 = 5). The HP 12C uses Reverse Polish Notation (RPN), which involves entering numbers first, then the operation (2 ENTER 3 +). RPN is faster for complex, multi-step calculations once mastered but has a steep learning curve.
- Learning Curve: The BA II Plus is far more intuitive for beginners. Its worksheets for TVM, Cash Flow, and Stats are straightforward. The HP 12C and RPN require significant practice to become proficient.
- Keystroke Count: For multi-step problems, RPN on the HP 12C often requires fewer keystrokes than the BA II Plus, which can save precious seconds during the exam.
- Build Quality: The BA II Plus Professional and the HP 12C models generally have a more premium feel and more responsive keys than the standard BA II Plus.
- Specific Functions: While both perform all necessary functions, the BA II Plus Professional has built-in functions for Net Future Value (NFV) and Modified Internal Rate of Return (MIRR), which can be useful.
- Popularity and Support: The BA II Plus is more popular among candidates, meaning there are more third-party tutorials and online resources available for it. Check out our guide to financial modeling courses for more resources.
Frequently Asked Questions (FAQ)
1. Can I use the Texas Instruments BA II Plus Professional?
Yes, the BA II Plus Professional is explicitly listed as an approved variation. Our checker tool will confirm this.
2. What happens if I bring a non-approved calculator to the exam?
Proctors will confiscate it before you enter the testing room. You will have to take the exam without a calculator or not at all.
3. Is the HP 12C better than the BA II Plus?
Neither is objectively “better”; it’s a matter of personal preference. The BA II Plus is easier to learn, while the HP 12C can be more efficient for experienced users due to RPN.
4. Do I need to clear my calculator’s memory before the exam?
Yes, proctors will check to ensure your calculator’s memory is cleared. You should know how to do this quickly for your specific model.
5. Where is the best place to buy cfa approved calculators?
They are widely available online on sites like Amazon, in office supply stores, and from the official Texas Instruments or HP websites. You can find more information in our investment portfolio tracker guide.
6. Does the calculator policy ever change?
Changes are rare, but the CFA Institute can update the policy. It’s always best to check the official CFA Institute website for the most current rules before your exam date.
7. Can I bring two approved calculators?
Yes, you are allowed to bring a spare, but it must also be an approved model. You may also bring spare batteries.
8. Is my smartphone’s calculator app allowed?
Absolutely not. All phones and smart devices are strictly prohibited in the exam room.
Related Tools and Internal Resources
Mastering your financial calculator is a key step. Continue building your skills with these related tools and resources:
- ROI Calculator: Understand the return on your investments.
- Bond Yield Calculator: Practice fixed-income calculations.
- NPV Calculator: A crucial tool for corporate finance and equity valuation.
- Time Value of Money Guide: Deepen your understanding of the core concepts.
- Retirement Savings Planner: Apply your financial knowledge to personal goals.
- Exam Readiness Checklist: Ensure you are prepared for every aspect of exam day.