Best Calculators for Finance Exams (2026)
There are really only two calculators worth knowing about for finance exams: the Texas Instruments BA II Plus and the HP 12C. Between them, they cover the CFA, FRM, CFP, CAIA, CMA, and the actuarial exams. If you already own one, you are almost certainly set.
I built FreeFellow after sitting a stack of these exams myself, and the calculator question comes up before every one of them. This is the single reference I wish I had: which exams make you bring your own, which hand you one on screen, and which model to buy if you plan to sit more than one credential.
The two workhorses
Texas Instruments BA II Plus. The default for most candidates. Clear labeling, simple time value of money and cash flow functions, and it is permitted on nearly every bring-your-own exam. Under 40 dollars. The BA II Plus Professional adds a few functions and is allowed everywhere the standard model is, with one exception noted below for the CMA.
HP 12C. The classic. It uses RPN (reverse Polish notation) entry, which is faster once it clicks but has a learning curve. Favored by candidates who already think in RPN. Permitted on the CFA, FRM, CAIA, CFP, and CMA exams.
If you have no history with either, buy the BA II Plus. It is cheaper, easier to learn, and works on more exams.
Bring-your-own exams
These exams make you bring a calculator from their permitted list. Using an off-list model can void your result, so check your model against the current policy before exam day.
| Exam | What you can bring |
|---|---|
| CFA (Levels I, II, III) | Only two model families: BA II Plus (and BA II Plus Professional), or HP 12C (and its Platinum, Prestige, and anniversary editions). CFA Institute permits nothing else. |
| CAIA (Levels I, II) | The same two families CFA allows: BA II Plus (and Professional), or HP 12C (and its Platinum, Prestige, and anniversary editions). CAIA does not allow a spare, cover, or keystroke card in the room. |
| FRM (Parts I, II) | GARP permits a slightly wider list: the HP 12C family, HP 10B II, HP 10BII+, HP 20B, plus the BA II Plus and BA II Plus Professional. |
| CFP | A battery-powered, non-programmable, dedicated financial calculator. CFP Board bans anything programmable or with an alphabetic keyboard. Common legal picks: HP 10bII+, HP 12C, BA II Plus. |
| CMA (Parts 1, 2) | A non-programmable model, six functions maximum: BA II Plus (Financial version, not the Professional), HP 10bII, HP 10bII+, HP 12c, or HP 12c Platinum. |
| Actuarial (SOA and CAS: P, FM, FAM, SRM, ALTAM, ASTAM, MAS-I, MAS-II) | A short SOA and CAS list: BA-35, BA II Plus, BA II Plus Professional, TI-30Xa, TI-30X II (IIS or IIB), and the TI-30X MultiView (XS or XB). |
The one calculator that spans the most exams is the BA II Plus. It is on every row above except that the CMA bars its Professional variant. Buy the standard BA II Plus and you can reuse it across the CFA, FRM, CFP, CAIA, CMA, and actuarial exams.
Exams that give you a calculator
Not every exam wants you to buy anything. Three of the biggest ban personal calculators outright and provide one inside the testing software:
- CPA. No personal calculator. You get an on-screen calculator during every section, plus a spreadsheet tool in the task-based simulations. One quirk: the on-screen calculator works left to right and does not follow order of operations, so 2 + 3 x 4 returns 20, not 14.
- FINRA Series exams (SIE, Series 6, 7, 63, 65, 66, 79). No personal calculator. The test center provides a basic non-programmable unit, and the online version gives you a four-function calculator on screen.
- Enrolled Agent (EA). No personal calculator. An on-screen calculator that works like the standard Windows calculator is available on every question.
For these, the move is to practice with an on-screen or basic four-function calculator during your prep so exam day feels familiar. The full breakdown is in the companion post on exams that give you a calculator.
If you sit more than one credential
Many candidates stack credentials (CFA then CAIA, or the actuarial exams then FRM). One purchase decision covers most paths:
- CFA, CAIA, FRM, CFP, or CMA path: buy the BA II Plus. One model, five credentials.
- Actuarial path: carry two. The TI-30X MultiView is the better fit for Exam P, and the BA II Plus is the better fit for Exam FM. Both are on the SOA and CAS list, and bringing both is common.
- RPN devotee: the HP 12C covers CFA, CAIA, FRM, CFP, and CMA, but not the actuarial exams (the TI-30X and BA-series models are the ones on that list).
FreeFellow's practice questions are free for every one of these exams, so you can drill the actual calculator keystrokes (TVM, cash flows, amortization) on real problems before you sit. Pick your model, learn it cold, and the calculator stops being something you think about on exam day.