Making the decision to become a Certified Financial Planner is a big step. And, one of the most important tools you will need on your journey to certification is a good calculator.
There are many different calculators on the market, so how do you know which one is best for you? In this article, we will provide comprehensive product reviews, a buying guide, and FAQs to help you make the best purchase possible!
Contents
- Calculator for CFP Exam of 2023
- 1. Texas Instruments BA II Plus Professional Financial Calculator
- 2. Texas Instruments TI-83 Plus Graphing Calculator
- 3. HP 10bII+ Financial Calculator (NW239AA)
- 4. HP 12C Platinum Financial Calculator, Energy Star Certified
- 5. Casio FC-200V Financial Calculator with 4-Line Display
- 6. HP 17BII+ Financial Calculator, Silver
- 7. Calculated Industries 3405 Real Estate Master IIIx Residential Real Estate Finance Calculator
- 8. TEXBAIIPLUS – BAIIPlus Financial Calculator, 10-Digit LCD
- 9. Victor 6500 12-Digit Desktop Financial Calculator
- 10. Calculated Industries 43430 Qualifier Plus IIIfx Desktop PRO Real Estate Mortgage Finance Calculator
- What Calculators Are Allowed on The CFP Exam?
- How To Choosing The Right Financial Calculator for The CFP Exam?
- Frequently Asked Questions
- Q: How many questions are on the CFP calculator?
- Q: What is the best way to prepare for the CFP exam?
- Q: What is the best type of calculator to use on the CFP exam?
- Q: How much time do I have to complete the CFP exam?
- Q: What happens if I fail the CFP exam?
- Q: How often is the CFP exam offered?
- Q: How much does the CFP Exam cost?
- Conclusion
Calculator for CFP Exam of 2023
1. Texas Instruments BA II Plus Professional Financial Calculator
The Texas Instruments BA II Plus Professional Financial Calculator is a great option for those looking for a reliable and affordable calculator for the CFP exam. This calculator is packed with features that will come in handy during the exam, such as profitability calculations, cash flow function, time-value-of-money, and amortization keys.
Additionally, the built-in functionality of this calculator makes it ideal for students, managers, and statisticians alike. And, with four regression options (linear, logarithmic, exponential, and power), you’ll be able to solve a variety of problems on the exam.
It’s the best financial calculator for CFP exam. So, if you’re looking for a top-rated calculator for the CFP exam, the Texas Instruments BA II Plus Financial Calculator is a great option to consider.
Pros:
- Packed with features that will come in handy during the exam, such as profitability calculations, cash flow function, time-value-of-money, and amortization keys.
- Built-in functionality makes it ideal for students, managers, and statisticians alike.
Cons:
- Some users have reported issues with the battery life of this calculator.
2. Texas Instruments TI-83 Plus Graphing Calculator
The Texas Instruments TI-83 Plus Graphing Calculator is a great choice for students taking the CFP exam. It is permitted for use on SAT, PSAT/NMSQT, ACT, AP, IB, and Praxis exams.
The calculator offers a large 64 x 96 pixel, eight by 16 display; 24KB of RAM; and 160KB Flash ROM memory. Additionally, it can graph three recursively-defined sequences; TVM, cash flows, amortization, and complex numbers.
The data analysis features have also been enhanced (logistic and sine regressions), and the calculator offers an I/O port with a unit-to-unit link cable. Lastly, it is powered by four AAA batteries (included) and a lithium battery backup to protect RAM memory.
Overall, the Texas Instruments TI-83 Plus Graphing Calculator is a great choice for students taking the CFP exam. It has many features that will be helpful during the exam, and it is very easy to use. If you are looking for a graphing calculator that will help you succeed on the CFP exam, then this is the one for you.
Pros:
- Permitted for use on SAT, PSAT/NMSQT, ACT, AP, IB, and Praxis exams
- Offers large 64 x 96 pixel, eight by 16 display; 24KB of RAM; and 160KB Flash ROM memory
- Graphs three recursively-defined sequences; TVM, cash flows, amortization, and complex numbers
- Enhanced data analysis (logistic and sine regressions); offers I/O port with unit-to-unit link cable
- Powered by four AAA batteries (included) and a lithium battery backup to protect RAM memory.
Cons:
- None! This calculator is a great choice for students taking the CFP exam.
3. HP 10bII+ Financial Calculator (NW239AA)
The HP-11C was one of the best scientific and engineering calculators ever made. It had great build quality, a fantastic keyboard, and an easy-to-read display, and it could do just about anything you could want a calculator to do. The only downside was that it cost a fortune.
The HP-12C is the successor to the HP-11C and it doesn’t disappoint. It’s just as well built, has an improved keyboard, and adds some features that make it even more useful for financial calculations. The best part is that it’s now much more affordable.
If you need a top-quality financial calculator, the HP-12C should be at the top of your list. The TI-89 is a great choice for students and professionals who need a powerful, yet easy-to-use calculator. It has a large display for easy viewing of equations and results.
The keyboard is well-designed and easy to use. The TI-89 also comes with a huge library of pre-loaded software applications (APPS) that expand its capabilities even further. Permitted for use on the CFP Certification Exam.
Pros:
- Over 100 time-saving, easily-accessible business functions.
- Easily calculate loan payments, interest rates and conversions, standard deviation, percent, TVM, NPV, IRR, cash flows, and more.
- Affordable price
Cons:
- Some users find the calculator difficult to use.
- There is no backlight feature making it difficult to use in low light conditions.
4. HP 12C Platinum Financial Calculator, Energy Star Certified
The HP 12C Platinum Financial Calculator is a high-quality and durable calculator that is perfect for the CFP exam. It is Energy Star certified and features over 120 built-in functions for business, finance, mathematics, and statistics.
The small size and long battery life make it perfect for taking on the go, and the efficient data entry using RPN makes it easy to use.
If you are looking for a robust and versatile financial calculator that is also energy efficient, then the HP 12C Platinum Financial Calculator is the best choice for you. With its wide range of features and long battery life, it will help you ace the CFP exam with ease.
Pros:
- High quality and durable
- Energy Star certified
- Over 120 built-in functions
- Small size and long battery life
Cons:
- Some users find the data entry using RPN to be confusing or difficult to use
5. Casio FC-200V Financial Calculator with 4-Line Display
The Casio FC-200V is a great choice for those taking the CFP exam. It has a four-line display and can easily convert between a percentage interest rate and an effective interest rate.
Additionally, it can perform simple and compound interest calculations, as well as depreciation. It comes with a slide-on hard case and is powered by solar energy with battery backup.
If you’re looking for a reliable calculator to help you ace the CFP exam, the Casio FC-200V should be at the top of your list!
Pros:
- Four-line display
- Converts between percentage interest rate and effective interest rate
- Simple and compound interest calculations
- Depreciation
- Slide-on hard case
- Solar power with battery back-up
Cons:
- N/A
6. HP 17BII+ Financial Calculator, Silver
The HP 17BII+ financial calculator is a great choice for students and professionals in real estate, finance, accounting, and business. It is both powerful and easy to use, with a quick calculation of loan payments, interest rates and conversions, standard deviation, percent, TVM, NPV, IRR, cash flows, bonds, and more.
This calculator also features 28KB of user memory, over 250 functions, RPN and Algebraic data entry options, as well as a clock/appointment/calendar function.
The HP solve application makes it easy to use this calculator for complex calculations. menus prompts and messages make it even easier to use this powerful tool.
If you are looking for a good financial calculator, the HP 17BII+ is a great choice. It is easy to use and has a lot of features that will be helpful in your studies or work. This calculator is a great investment for anyone in the business or finance field.
Pros:
- A quick calculation of loan payments, interest rates and conversions, standard deviation, percent, TVM, NPV, IRR, cash flows, bonds, and more
- 28KB of user memory
- Over 250 functions
- RPN and Algebraic data entry options
- Clock/appointment/calendar function
Cons:
- None found! This calculator seems to have it all!
7. Calculated Industries 3405 Real Estate Master IIIx Residential Real Estate Finance Calculator
The Calculated Industries Real Estate Master IIIx calculator is one of the best calculators for the CFP exam. It is simple to use with clearly labeled function keys and provides instant solutions to real estate finance problems.
It is perfect for analysts who need to quickly find the right loan for their clients. The Real Estate Master IIIx calculator speaks your language with keys labeled in residential real estate finance terms like Loan Amt, Int, Term, Pmt. It also calculates 80:15:05 combo loans, ARMs and bi-weekly loans, quarterly payments, and interest-only payments.
This calculator is a must-have for anyone taking the CFP exam. If you are looking for a top-quality calculator for the CFP exam, the Calculated Industries Real Estate Master IIIx is the best choice.
Pros:
- Simple to use with clearly labeled function keys
- Provides instant solutions to real estate finance problems
- Perfect for analysts who need to quickly find the right loan for their clients
- Calculates 80:15:05 combo loans, ARMs and bi-weekly loans, quarterly payments, and interest-only payments
Cons:
- None! This calculator is a great choice for the CFP exam.
8. TEXBAIIPLUS – BAIIPlus Financial Calculator, 10-Digit LCD
The TEXBAIIPLUS – BAIIPlus Financial Calculator is a great choice for those studying for the CFP Exam. This calculator has all of the features you need to make quick and accurate calculations. The large, easy-to-read LCD display is perfect for working through problems.
And, the built-in memory allows you to save your work and come back to it later. This calculator is also lightweight and portable, so you can take it with you wherever you go.
If you are looking for a top-quality financial calculator, the TEXBAIIPLUS – BAIIPlus Financial Calculator is a great option. It has everything you need to ace the CFP Exam. So, don’t hesitate to add it to your study arsenal. It could be the key to your success.
Pros:
- Large, easy-to-read LCD display
- Built-in memory
- Lightweight and portable
- Affordable
Cons:
- None!
9. Victor 6500 12-Digit Desktop Financial Calculator
Making the decision to become a certified financial planner is a big step. And, one of the most important tools you will need on your journey to certification is a good calculator. The Victor 6000 is a great option for those studying for the CFP exam.
This calculator is extra-large with a 21mm LCD angled display that makes it easy to view. It also has loan wizard capabilities that make calculating payments and interest simple.
Additionally, the decimal placement can be easily changed for different currency calculations. Finally, this calculator has three key independent memory and runs on solar power with battery backup – making it a great option for those who want an eco-friendly and reliable product.
Pros:
- Large, easy-to-read LCD display
- Loan wizard capabilities
- Changeable decimal placement
- Three key independent memory
- Solar powered with battery backup
Cons:
- Some users may find the loan wizard feature difficult to use
10. Calculated Industries 43430 Qualifier Plus IIIfx Desktop PRO Real Estate Mortgage Finance Calculator
The Calculated Industries Qualifier Plus IIIfx Desktop PRO is a great calculator for those in the real estate field. This industry-standard calculator is easy to use and includes keys that are clearly labeled in residential mortgage finance terms.
With this calculator, you’ll be able to easily solve your clients’ financial questions with confidence. The best part? The dedicated buyer qualifying keys let you enter your client’s income, debt, and expenses to pre-qualify them for a loan. This way, you can show them only properties they can afford – increasing your perceived professionalism as an agent in the process.
Other great features of this calculator include the ability to figure out the right loan for your client at the press of a button (for jumbo, conventional, FHA/VA, or even 80: 15: 05 combo loans), and the ability to perform “what if” loan or TVM calculations.
This calculator really is an invaluable resource for anyone in the real estate field – helping to reduce their clients’ confusion and uncertainty while ensuring they are able to make a purchase offer.
Pros:
- Easy to use
- Includes keys that are clearly labeled in residential mortgage finance terms
- Can be used to pre-qualify buyers for loans
- Figure out the right loan for your client at the press of a button
- Perform “what if” loan or TVM calculations
Cons:
- Some users may find the calculator difficult to understand at first glance
What Calculators Are Allowed on The CFP Exam?
While you are permitted to use any type of calculator on the CFP exam, financial calculators are recommended. This is because they are designed to help with the types of calculations you will be expected to do on the exam.
Additionally, using a financial calculator will help you to save time and avoid making mistakes.
How To Choosing The Right Financial Calculator for The CFP Exam?
When choosing a financial calculator for the CFP exam, it is important to consider its features and whether or not it will suit your needs. Some things you may want to look for include:
- A large, easy-to-read display
- Built-in memory
- The ability to perform “what if” scenarios
- Solar power with battery backup
- An affordable price tag
Frequently Asked Questions
Q: How many questions are on the CFP calculator?
A: There are 50 questions on the CFP calculator section of the exam. These questions will test your knowledge of financial planning concepts and your ability to use a financial calculator to solve problems. You will have 90 minutes to complete this section of the exam.
Q: What is the best way to prepare for the CFP exam?
Q: While there is no one-size-fits-all answer to this question, there are some things you can do to help ensure you are prepared for the CFP exam. First, it is important that you understand the content covered in the exam and how best to study for it.
Additionally, using practice exams and becoming familiar with your financial calculator will help you feel more confident on test day. Finally, be sure to give yourself plenty of time to study, and don’t wait until the last minute!
Q: What is the best type of calculator to use on the CFP exam?
A: While you are permitted to use any type of calculator on the exam, financial calculators are recommended. This is because they are designed to help with the types of calculations you will be expected to do. Additionally, using a financial calculator will help you save time and avoid making mistakes.
Q: How much time do I have to complete the CFP exam?
A: You will have 90 minutes to complete the 50 questions in the CFP calculator section of the exam.
Q: What happens if I fail the CFP exam?
A: If you fail the CFP exam, you will be allowed to retake it. However, you will need to wait at least 45 days before doing so. Additionally, you may be required to take a review course or complete additional self-study before retaking the exam.
Q: How often is the CFP exam offered?
A: The CFP exam is offered three times per year, in March, July, and November. You can register for the exam up to six months in advance of your desired testing date.
Q: How much does the CFP Exam cost?
A: The cost of the CFP Exam is $695. However, if you need to retake the exam, the fee is reduced to $450. Additionally, there may be additional costs associated with taking a review course or self-study program.
Conclusion
In conclusion, using a financial calculator on the CFP exam can help you save time and avoid making mistakes. When choosing a calculator, it is important to consider its features and whether or not it will suit your needs. Additionally, be sure to give yourself plenty of time to study for the exam, and don’t wait until the last minute!
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