Yes, you must use an approved calculator for the CFA Level 1 exam. Only the Texas Instruments BA II Plus (including Pro) and Hewlett Packard 12C (including Platinum/other editions) are allowed. Using any other model will lead to disqualification.
The CFA Institute permits only two calculators during the exam: the Texas Instruments BA II Plus (including the BA II Plus Professional) and the Hewlett Packard 12C (including the Platinum edition).
The CFA exam calculator policy allows only two calculator models for the exam: Texas Instruments (TI) BA II Plus (including BA II Plus Professional) Hewlett Packard (HP) 12C (including the HP 12C Platinum, 12C Platinum 25th anniversary edition, 12C 30th-anniversary edition, and HP 12C Prestige)
Items to bring
You can manually do the math and get away with it (time permitting). If you were very well prepared, you'd have enough time to do the math manually. Obviously, There are some CF/Bond problems you cannot manually solve for but you can still pass the exam if that's your point.
The CFA Level 1 passing score is not fixed every year, but it usually stays between 65% and 70%. CFA Institute does not publish an official cut-off, but this range is considered the minimum benchmark to pass.
However, let's put things into perspective: the CFA Level 1 exam is not a math test. The CFA Institute has made it clear that calculations will account for no more than 30% of the questions on the exam. To put it in numbers, that's a maximum of 54 out of the 180 questions.
Is CFA tougher than CA? A: The CFA and CA (Chartered Accountant) qualifications have different focuses and challenges. While both are demanding, many find CA to be more rigorous due to its extensive practical training and exams.
Water in a clear glass is allowed during testing; however, eating, smoking (including electronic cigarettes,) and chewing gum are prohibited.
Here are the hardest CFA Level 1 topics to watch out for:
✅ Only 2 calculators are allowed: 1️⃣ Texas Instruments BA II Plus (including BA II Plus Professional) 2️⃣ HP 12C (including Platinum models) ⚠️ No other calculators — not even your phone or smartwatch — are permitted during the exam!
Q2: Do I need to memorize all formulas for CFA Level 1? A: Yes. The CFA exam does not provide formula sheets during the test, so candidates must memorize key formulas, especially in Quantitative Methods, Fixed Income, and Financial Reporting.
Only two calculator models are authorized for use during CFA® Program exams: Texas Instruments BA II Plus (including BA II Plus Professional) Hewlett Packard 12C (including the HP 12C Platinum, 12C Platinum 25th anniversary edition, 12C 30th anniversary edition, and HP 12C Prestige)
On average, allocate 15-20 hours per week for CFA Level 1 preparation. Plan for a longer overall preparation period, ideally around 5-6 months.
The CFA Calculator is a helpful online tool that can be used to predict your CFA score and identify which of the 6 events you need to focus on in order to improve your score.
Listing CFA Level One in the education section of the resume
Write "Chartered Financial Analyst." Include a hyphen and "Passed Level 1" next to it with the year you earned the qualification.
CFA Level I Pass Rate Stays at 43% for November Test
Candidates who put off taking the test have a smaller likelihood of success. Those who took the Level I exam in November with at least one deferral saw a 29% pass rate, compared with 49% for first-time candidates, the CFA Institute said.
CFA Exams Pass Rates
The CFA exams are perhaps the most challenging exams out there. They are often referred to as “bar none” the toughest exams—even harder than medical school or law school exams—with pass rates that hover around 50% and were much lower during the recent pandemic.
Three months can be enough time, but typically it takes a candidate at least six months to prepare for the CFA Level 2 exam.
Having said that Fixed Income, Derivatives, and FSA are the hardest level 1 CFA exam topics, it's time to rank all of the 10 level 1 topics by difficulty. Difficulty is a subjective criterion but this hard-to-easy topic hierarchy is meant as a guideline to help you approach CFA exam topics sensibly.