Best Financial Calculators for the CFA and CFP Exams (2026): HP 12C vs TI BA II Plus and the Approved Lists

Choosing a calculator for a finance exam is less about features than about rules. Bring a model that isn’t on the list and you can’t use it. For the CFA exam, CFA Institute says using an unauthorized calculator voids your results. So the first job is to check the official lists. Only then does it make sense to compare keystrokes.

Step 1: The official approved lists (checked November 9, 2026)

*CFP Board’s policy says “newer and older versions of these calculators will be allowed.” It names the HP 12C and 12C Platinum but not the anniversary or Prestige editions individually. If you plan to bring one of those editions to the CFP exam, confirm with CFP Board first.

Sources: CFA Institute, “CFA® Exam Calculator Policy” (updated January 12, 2026); CFP Board, “Calculator Policy” and “What to Bring to the Exam.”

The key takeaway: if you might sit both exams, or move from one to the other, buy a TI BA II Plus (or Professional) or an HP 12C (or 12C Platinum). Those are the only families on both lists.

Exam-day rules worth knowing before you buy

CFA Program

• Only the two families above are allowed. You can’t borrow a calculator from the test center or share one with another candidate.
• Calculators are inspected before the exam.
• Calculator covers, keystroke cards and loose batteries are allowed; instruction manuals are not. You may keep a small screwdriver to change the BA II Plus battery.

CFP exam

• Bring a dedicated financial calculator from the list. Newer and older versions of listed models are allowed, and proctors inspect calculators before the exam.
• You must clear your calculator’s memory before each section yourself. Prometric staff won’t do it for you.
• Notes, formulas or pull-out cards printed on or attached to the calculator must be removed or masked with solid-colour tape.
• CFP Board advises fitting and testing fresh batteries before the exam. Loose batteries without packaging are allowed.

Step 2: How the leading models compare

Sources: Texas Instruments Knowledge Base Solution 18069 and BA II Plus product pages; HP 12C owner’s handbook; HP 12c Platinum data sheet; HP 10bII+ user guide. Prices change often, so check the current price on each link below.

TI BA II Plus: the default choice for most candidates

Texas Instruments BA II Plus Financial Calculator (check current price)

CFA Institute’s own calculator guide calls the BA II Plus “the most popular calculator among CFA candidates due to its intuitive interface and lower learning curve.” It works like an ordinary calculator (algebraic entry), so there is no new input logic to learn. It covers everything both exams need: time value of money, NPV and IRR, amortization, depreciation, bond price and yield, interest conversion and statistics.

Choose it if: you want the shortest learning curve. It also helps that many prep providers write their worked solutions around it. For example, Fitch Learning’s CFA support page says all of its solutions use the Texas calculator.

TI BA II Plus Professional: same keystrokes, a few extra functions

Texas Instruments BA II Plus Professional (check current price)

Texas Instruments says the two BA II Plus models are “nearly identical.” The Professional adds net future value (NFV), payback, discounted payback, a reinvestment-rate input and modified IRR in the cash-flow worksheet, plus modified duration in the bond worksheet. CFA Institute’s guide also mentions better build quality. You can solve exam problems without these extras, but they save keystrokes on some cash-flow and bond questions.

Choose it if: you want the TI layout and expect to use MIRR or duration often, on the exam or later at work.

HP 12C: the classic for finance professionals

HP 12C Financial Calculator (check current price)

The HP 12C uses Reverse Polish Notation (RPN): you enter numbers first, then the operation, with no equals key and no parentheses. CFA Institute’s guide describes it as “durable, long-lasting” and efficient once you master RPN. Per HP’s handbook, it stores 20 uneven cash flows in addition to the initial cash flow and offers 99 program steps. Programming won’t help on exam day: CFP candidates must clear memory before each section.

Choose it if: you already think in RPN, or you work somewhere the 12C is the house standard. Expect a learning curve if you have only used algebraic calculators.

HP 12C Platinum: RPN or algebraic, more memory

HP 12C Platinum Financial Calculator (check current price)

The Platinum keeps the 12C layout but lets you switch between RPN and algebraic entry. HP’s data sheet lists capacity for up to 80 cash flows and a single CR2032 battery. It is approved for both exams.

Choose it if: you like the 12C’s form factor but want the option of algebraic entry while you learn.

HP 10bII+: CFP only

HP 10bII+ Financial Calculator (check current price)

The 10bII+ is an algebraic HP model that is on the CFP list but not on the CFA list. It is a reasonable choice if you are certain you will only take the CFP exam. If there is any chance you will sit the CFA exam, buy a BA II Plus or 12C instead so you only learn one calculator.

Which one should you buy?

Practical tips

1. Consider a second, identical calculator. CFP Board explicitly allows “one or more” approved calculators. For the CFA exam, check CFA Institute’s exam-day guide for current rules on spares. A same-model backup avoids switching layouts if a battery dies.
2. Practise clearing memory and resetting settings. CFP candidates must do this themselves before each section, and the defaults (for example, payments per year on the BA II Plus) can trip you up.
3. Fit fresh batteries before exam day and bring loose spares. Both bodies allow loose batteries.
4. Mask anything printed on the back for the CFP exam, as the policy requires.
5. Re-check the lists close to your exam date. CFA Institute updated its policy page on January 12, 2026. Policies can change.

Bottom line

For almost everyone, the TI BA II Plus is the safest buy: approved for both exams, easy to learn, and the one most prep materials assume. Choose the Professional if you want the extra cash-flow and duration functions, or the HP 12C / 12C Platinum if you prefer RPN. Buy the HP 10bII+ only if you are certain you’ll never sit the CFA exam.

Sources: CFA Institute, “CFA® Exam Calculator Policy” (updated January 12, 2026) and “Mastering Your Calculator for the CFA Exam” guide; CFP Board, “Calculator Policy” (PDF), CFP Exam Candidate Handbook and “What to Bring to the Exam”; Texas Instruments Knowledge Base Solution 18069 and BA II Plus / BA II Plus Professional product pages; HP 12C owner’s handbook; HP 12c Platinum data sheet; HP 10bII+ user guide; Fitch Learning support page “Which calculator can I use for CFA?”. Checked November 9, 2026.