If you haven’t gotten one yet, the TI BA II Plus is really the best calculator for the CFA exam. It is much easier to use and more affordable. In the above example, if you wished to find the IRR, you would key [f] IRRinstead of [f] NPVafter entering all cash flows. Remember to use correct cash flow sign conventions be used (use opposing signs when cash is flowing in vs out), otherwise your answer will not make sense! Your calculator will be inspected prior to the start of the exam. Your calculator must remain on your desk in full view and proctors will continue to inspect calculators throughout the administration of the exam. Failure by the proctors to detect an unauthorized calculator prior to the start of the exam, or your possession and/or use of an unauthorized calculator at any time during the exam, does not imply you are in compliance with the calculator policy.” CFA Calculator Guide 1. Don’t Buy Second-Hand CFA Calculators

The HP-12C is HP's longest and best-selling product, in continual production since its introduction in 1981. Due to its simple operation for key financial calculations, the calculator long ago became the de facto standard among financial professionals. [4] Its popularity has endured despite a relatively simple but iterative process such as amortizing the interest over the life of a loan, a calculation that modern spreadsheets can complete almost instantly, can take over a minute with the HP-12C. The 1977 October edition of the HP Journal contains an article by Roy Martin, the inventor of the simple method of operation used in HP financial calculators, which describes, in detail, the mathematics and functionality built by William Kahan and Roy Martin that is still used today. [5] Models [ edit ] HP-12C [ edit ] Decidedon BA II Plus calculator? Remember to refer to our BA II Plus Calculator Guide for CFA, FRM and CAIA Exams→

Peterson, Kristina (2011-05-04). "Wall Street's Cult Calculator Turns 30". WSJ. Archived from the original on 2011-05-05. This is a remarkable success for what was considered to be a stopgap product - the 11C, 12C and other members of the "Voyager" series (or series 10) were intended to fill the gap between the older Series 30 models with LED displays, and the newer models with dot matrix displays which followed them. Yet this time gap was sufficiently long that customers came to know the HP-12C well, and to continue buying it even after new models with more features became available. It has just the right combination of HP's TVM (Time Value of Money) functions, date calculations, programmability - and yet looks not too complicated - and elegant looks. Its elegance has probably kept it on business users' desks as much as its functionality. R0… R9/ CF0… CF9, R.0… R.9/ CF10… CF19) + 5 ( n, i, PV, PMT, FV/ CF20) + 5 ( X, Y, Z, T, LAST X) [3] By default, the HP12C will show only two decimals places. To modify the number of places displayed, hit the yellow [f]prefix key followed by the number of places you wish to display. For example, to display five decimal places, you would key: The HP-16C is a computer programmer's calculator, designed to assist in debugging. It can display numbers in hexadecimal, decimal, octal and binary, and convert numbers from one base to another. A number of specialized functions are provided to assist the programmer, including left- and right-shifting, masking, and bitwise logical operations. HP has (as of 2015) never made another programmer's calculator, but has incorporated the 16C's functions in later calculator models.

HP didn’t content themselves with owning the minds and fingers of the top 5% of the banking profession.” Quantitative Analysis For Business: The Time Value of Money and Basic Business Statistics Using a Business Calculator, 3rd Edition by Gene Wright In February 2016, SwissMicros introduced the DM12L, a version of the calculator about the same size as the original HP-12C. The technology of the HP-12C is old enough that HP have several times wished to stop making it - by increasing the price and by introducing alternatives. Sales actually went up following one price rise, and the OmniGo 100 and 120, with a full HP-12C built into them, have been discontinued while the HP-12C continues to sell well. It is now made for HP by a subcontractor, with all the circuitry reduced to a single chip - but it is still made. The HP-12C is so popular that emulators are available on many platforms including the HP48 series, PC and iOS. Windows HP-12C EmulatorEasy fix, HP. Make us happy to show off that we have this app, and let us inspire others to buy it from you when they see us use it. Once you’ve developed basic knowledge of RPN, you may find its format more practical particularly for TVM problems on the exams. Research has also shown that the HP 12C could be faster and more accurate for candidates to use. Reverse Polish Notation requires that when performing arithmetic functions, you separate the first two numbers by hitting the [Enter]key. For example, to sum 5 and 5, you would key: The first release of the 12c Platinum used a faster processor than the revision of the original HP-12C which was available at that time. (However, the subsequent revisions of the original 12C which switched to ARM-based processors have reversed that speed gap.) It was equipped with a Sunplus SPLB20D2 [1] [18] with a 6502 core, larger memory (for up to 30 CFj registers [17] and 400 program steps) and more built-in functions. It allows input to be entered in algebraic mode as well as in 4-level classical RPN. The calculator's particular implementation of RPN exhibits an unusual behaviour of the CHS key different from that of the 12C and other classical RPN calculators. [19]

It may make sense to buy a used calculator to save a few dollars, but in this instance, the calculator may not function properly, and you won’t have a warranty to get it fixed. Even if it works fine, you can’t be certain that the battery will be operational, and this could end up costing you even more.Note: Hitting [f] REGwill clear the storage registers. You may also overwrite a single stored register by storing a new value in the register. To calculate and store the interest rate with monthly compounding, key in the annual interest rate followed by [g] 12÷. Note that the HP12C automatically converts the interest rate to a decimal. In 2011, the continued popularity of the Voyager series among users prompted SwissMicros (originally called RPN-Calc) to produce a series of credit-card-sized calculators looking like miniature versions of their HP equivalents and running the original HP firmware in an emulator on a modern calculator hardware. The series consisted of the DM10, DM11, DM12, DM15 and DM16. [9] All calculators used the same hardware, but differ in keyboard and firmware (which can be changed with an upgrade port). After the introduction of the larger DM15L, DM41L and DM16L in 2015, the DM11L was added in January 2016 with the DM12L following in February. A limited production run for a DM10L was planned for 2019. [10] [11] See also [ edit ] While the TI BA II plus may require more keystrokes to perform calculations like the NPV, the extra 0.5 seconds longer it takes to complete the computation will not make any difference in your exam.

You can see this as a relatively inexpensive financial calculator that performs all basic financial calculations (e.g., IRR and NPV). This calculator is good enough for any financial course and the CFA exam. Pros Always ensure that you’ve correctly set your calculator to either beginning or end of period based on when cash flows occur. Beginning will be identified on the screen, end will not. To switch to beginning mode, use the following keystrokes [g] BEG It’s cool. The HP12C is a legendary calculator, so some candidates do like to use and appreciate it beyond its use for the CFA exams. If a problem uses annual compounding, all that is necessary is to key in the number of years or annual interest rate followed by [n] or [i], respectively.The HP-12C is one of only four calculators permissible in the Chartered Financial Analyst exams, the others being its sister, the HP12c Platinum, and the Texas Instruments BA II Plus and BA II Plus Professional. Based on the same processor, a limited HP12c 30th Anniversary Edition (NW258AA) was introduced in 2011. [14] Only 40,000 of this model were made. No, and the CFA Institute is very strict about this. Here is their exact wording on unapproved calculators: