CFA Program Main

CFA Exam Calculator Policy

 

Approved Calculators

 

Only two models of business calculator are authorized for use during the exams:

 

 

Both authorized models are widely available through retail stores or online. Buy an approved calculator early so you can practice using it as you study.

 

Find a calculator distributor.

 

Read the full calculator policy below to ensure you are properly prepared for the exam.

 

 Full Calculator Policy

Two models of business calculator are authorized for use on the CFA exams: the Texas Instruments BA II Plus (including the BA II Plus Professional) and the Hewlett Packard 12C (including the HP 12C Platinum). CFA Institute strictly enforces all policies with regard to calculator usage during the exams and candidates are required to abide by the policies of CFA Institute.


Your calculator will be inspected prior to the start of the exam. Your calculator must then remain on your desk in full view and proctors will continue to inspect calculators throughout the administration of the exam. Possession or use of an unauthorized calculator at the test center will result in the voiding of your exam results and may lead to the suspension or termination of your candidacy in the CFA Program. Failure by the proctors to detect an unauthorized calculator prior to the start of the exam, or your use of an unauthorized calculator at any time during the exam, does not imply that the calculator is an approved model or that your scores will ultimately be reported.


Calculator covers are permitted in the testing room. The Texas Instruments BAII Plus cover contains a keystroke card; the Hewlett Packard 12C has keystrokes printed on the back of the calculator. Candidates may refer to these keystroke instructions during the exam. Loose batteries (no packaging) are permitted in the testing room; however, CFA Institute advises you to place fresh batteries in your calculator on the day before the exam. You may keep a small screwdriver with you if necessary to replace batteries in the BAII Plus. Instruction manuals are not permitted in the testing room.


Both authorized models of calculators are widely available. If you are unable to purchase one through retail or online, you can purchase by mail, phone or fax from the distributors listed on the CFA Institute website. You can obtain a copy of this list by mail or fax by calling us at +1 (434) 951-5499 or +1 (800) 247-8132. You are encouraged to practice with one of these models as you study, and you may bring more than one of these calculators to the exam. Do not wait until the weeks before the exam to order your calculator or you may not be able to obtain one in time for the exam. Prior to entering the exam room, remember that all programmable calculator memory must be cleared.


Please note that CFA Institute does not profit from the sales of these calculators. While we have asked distributors to make calculators available for sale to candidates, the distributors are solely responsible for the availability, quality and operation of any calculator ordered from them by candidates. CFA Institute does not endorse, warrant, or guarantee the calculators or any other products or services provided by these distributors.