CMA Exam Calculators: Policy and Recommended Brands
Candidates are allowed to bring their own CMA exam calculators in the prometric center, but there are rules that you have to follow. Let’s take a look.
CMA Exam Calculator Policy
- Simple six-function calculators that is not programmable (except for the financial calculators listed below). The six functions are addition, subtraction, multiplication, division, square root, and percent.
- The calculator must not use any type of tape.
- Small, quiet, and battery- or solar-powered.
- The calculator’s memory must be temporary, and it must erase when the memory is cleared or the calculator is turned off.
- Can’t bring along instruction books
CMA Exam Calculator Comparison
The following financial calculators are allowed:
- Texas Instruments BA II Plus*
- Hewlett-Packard HP 10BI
- Hewlett-Packard HP 12c**
- Hewlet-Packard HP 12c Platinum**
* Texas Instruments BA II Plus “Professional” is not allowed.
**Since January 1, 2013, candidates can use HP 12c / HP 12c Platinum which are very popular among finance professionals and are approved for the CFA and CFP exam.
1. Texas Instrument BA II Plus
If you are looking for a calculator with basic features that satisfy your CMA exam requirements, such as calculating NPV and IRR, then the Texas Instrument model works well for you.
What’s Great about this CMA calculator
- More affordable
- More user-friendly
Limitations
-
May need more keystrokes to accomplish the same tasks
- Keyboard slightly less sensitive than the HP models
2. HP 12C and HP 12CP
If you are looking for a more advanced model that could be useful for your profession, then you may want to take a look at the HP models. This calculator has been around for 20+ years and have been popular among bankers.
What’s Great
- Fewer keystrokes for frequently used calculations e.g. NPV
- Very sturdy keypads
- Good size (3″x5″) for your suit pocket
Limitations
- The way you key in the formula is not user friendly, e.g. you need to enter the “=” before the numbers. Technically it’s known as the Reverse Polish Notation (RPN) and it’s quite hard to use.
- It’s more expensive
For more details on these CMA exam calculators, check out our discussion on CFA calculators (which also use TI BA II Plus and HP 12C). Disclosure: The I Pass Team may be earn a small amount of compensation if you purchase from our links; our team uses these revenues to maintain the site and produce awesome free content just for you!
| TI BA II Plus | HP 12C | HP 12C Platinum |
Other Notes to Candidates
1. Before The Exam
I encourage that you get any of the above financial calculators for Part 2 of the CMA exam. Although the NPV and IRR calculations can be done using NPV/IRR tables supplied by the CMA examiners, it takes a longer time to complete each computation.
Since you need to get one for your exam anyway, it is a good idea to practice using the calculators during your study session.
2. A Few Days Before Your Exam Day
Make sure your calculator has fresh batteries.
3. On Exam Day
The Prometric center may have calculators available, but they are not required to do so (i.e. can’t blame them if they can’t supply one) and they only carry the most basic version.
The proctor in some Prometric center may not be familiar with the latest CMA exam calculator policy, especially if you plan to use the newly approved HP 12C. It is best if you can print out the calculator policy in the CMA Candidate Handbook (p.11) and bring it with you.
| TI BA II Plus | HP 12C | HP 12C Platinum |
For Your Further Reading
About the Author Stephanie Ng
I am the author of How to Pass The CPA Exam (published by Wiley) and the publisher of this and several accounting professional exam prep sites.
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What about the HP 10bII+ ?
The IMA recently confirmed with me that the HP 10B II+ is disallowed because it automates some particular functions that the Exam Developers want to test.
Thanks Michael. Yes I checked the rule and it does not mention HP 10bII “+” as an approved version. Stephanie
Is the ban on the BA II Plus Professional still valid ? The Canadian CMA site
shows that the Professional Version is also ok.
Could you please advise? Thanks
Hi Karthik, the Canadian CMA is a different qualification from the US CMA administered by IMA. This may explain the reason, but it is possible that the rule is changed too. I’ll read the latest handbook again later to double check. Stephanie
how about a 12 digit display calculators? how many digits are alloeable?
is tax tabs not allowable?
Not too sure Rafsal. If you have an existing calculator that you want to use, it is best to double check with IMA directly. I only include the ones that IMA lists out in the handbook. Stephanie
so how can i directly contact them?
through mail ID? if so please give me one
They can be reached at ima@imanet.org
Cheers, Stephanie
For part 1of the exam. do i really need to use a financial calculator for that exam or can i use Ti 84 plus by Texas instruments
Hi D,
Technically you don’t need a financial calculator; a “normal” one for simple calculations is fine. The issue I see with Ti84 is that it has storage and operational memory. I don’t think IMA will allow this but you can double check with them.
Hi ,
Currently I am playing to enter the CMA part 1 next May and was wondering how vital is it ( to have a financial calculator ) for part 2 and if it is vital and i will be getting one any way do you recommend to use it in part 1 and is there any benefit for it in part 1
Also I am so panning to buy the (TI BA II plus ) or do you recommend any other one , this is my first time with a financial calculator
Thanks in advance for any feed back
Hi Mohammad, in Part 2, in theory you can use the tables to look up the data but I don’t think anyone does it these days. So for part 2 I would definitely get one myself. For part 1 it’s likely ok to use a normal calculator.
In terms of which one to pick, I would recommend Texas Instrument in your case because it works like the normal calculator while the HP still uses the reverse polish notion, ie you press the + – keys after the numbers. If you don’t know what I mea, it’s basically a very confusing way to use the calculator.
Also TI is more affordable. For detailed pros and cons please click on the link above. Cheers, Stephanie
Hi,
I know it’s not in the list of approved calculators but is “Casio fx-991MS” allowed? it’s non-programmable.
thank you.
Hi Raquel, it’s likely ok if the calculator is not programmable. How about memory? It is best to check directly with IMA. Good luck! Stephanie
Has the CFP exam policy changed? It seems to show that the HP18bii+ and TIBAii Plus Professional are approved.
Will either of those calculators give any additional benefits for the CFP exam?
http://www.cfp.net/docs/default-source/cfp-certification—cfp-exam-requirement/2015-calculator-policy.pdf?sfvrsn=4
Sorry Jerry, this site is for CMA exam only. Please check with the CFP board directly.
Hi Stephanie,
I will be taking the CMA Part 1 Exam this coming May 2016. Is calculator Casio DM-1400B allowed?
Hi Lance, is this a “simple” calculator, that is, without memory and formula functions? Looks like it is, and if so you should be ok. If I were you I would double heck with IMA by sending them an email: ima@imanet.org. Regards, Stephanie
Hi,
I have a slight difference between Gleim’s answer & the calculator result. IT is for any calculation involving the Present value or future value
Does anyone face the same problem ?
Thanks,
Sorry, forgot to mention that I am using Texas Instrument BA 2 Plus
Hi Sultan, it is best if you check with your Gleim personal counselor. I am sure he/she faces questions similar to yours and will be able to help you out. Regards, Stephanie
I have not taken Part 2 yet, but for Part 1, I found that I was much faster using the computer calculator that was available on the exam. It was because I was used to it, but also because I could easily copy and paste calculated values. The computer calculator had 1/x and other functions you’d find on the simple 2007 windows calculator. I also found it much easier to use than the Gleim calculator.
Hi A, thanks for sharing! Agree the calculator on screen is good enough for Part 1. Not sure for Part 2 though…
Hi,
I’ve just started studying for the CMA through the MEGA Test Bank. I want to confirm if the calculator that I’m using is allowed or not. It’s “Casio fx-991ES Plus Scientific Calculator, 10 + 2 (10 Mantissa + 2 Exponential) Digit, Full Dot Matrix.”
I’ve read the IMA policy but not sure if this is allowed or not.
Regards,
Abdullah
Hello!
Is a normal (non-financial) calculator for part 1 is sufficient?
I wouldn’t recommend it, no.