I was wondering when you sit the exam do you get a formula sheet or not? At the moment I do not have a financial calculator - still using my Scientific calculator and Excel - and remembering all the formulas.
Of course you can, they cannot expect you to remember all formulas. That would be ridiculous.
So anyone who has sat the Level1 exam can confirm that you get a formula sheet?
Yes you get a formula sheet and I believe from 2009 you can take book 1 (ethics) in as a reference.
Oh and no need to worry about a financial calculator as its not really required for level I. In any case you’ll be given one to borrow at the exam centre.
read the website cfainstitute.org for testing policies. mcpass and NoSurrender are definitely providing you with the wrong information. No formula sheet is allowed. Learn to use your financial calculator as early as possible. Do not depend on excel and your scientific calculator. No extra paper is allowed either for solving / working out your solutions in the exam. whitespace between questions and the margin on the question booklet is all that is available to you.
I am getting conflicting messages here. I think I will email the CFA institute.
Aghhhhhhh I have begun studying for the Level I exam and discovered that there are many formulas presented. Are candidates expected to memorize all these formulas? Candidates are expected to be able to perform the actions specified in the learning outcome statements (LOS). If a formula is required, then it should be committed to memory. Looks like I need to get a calculator - now which one is best?
CPK123 is right. NoSurrender is providign you with false information. You can only take the financial computer either TI or HP (as mentioned on the CFAinstitute.org page). NO notes, no books, no formulate sheets otherwise you will be suspended fromt he exam!!! So try to learn using the Financial calculator as early as possible and study all the formulas by heart!!! Vital to pass teh exam!
commadus they are all joking! you can only bring an HB pencil and a calculator.
As long as the formulas are on the calculators - now I will go and buy one - which one do you use?
Sigh…
I know been to the website - I might end up buying both of them - its that I prefer knocking out the sums on my trusty Casio!!! Though with a lot of scribbling!!
okay, well if your choosing between calculators, i’d go with the TI BA II pro unless you know reverse polish notation, which is what the HP uses. that takes a little while to get used to and time is of the essence at this point (assuming your sitting in December) and to be clear - the formulas are NOT on the calculator, you need to memorize, and more importantly understand all of them. the only thing the calculator will do for you is TVM, NPV payback period, discounted payback period, duration and depreciation methods - but garbage in garbage out, you need to understand the inputs.
Yeah I just looked at RPN - looks useful as you dont need to add into memory part calculations. But then ease of use is the TI.
this was an entertaining thread. in all seriousness buy a TI BA 11 calc. Its the easiest to use. No - they do not provide you with a formula sheet. you have to be able to interpret the formula also
Um… i laughed. But no. you memorize everything. you need a calculator.
Dude don’t worry about it, if you get stumped in the exam just ask one of the proctors to help you, that’s what they’re there for.
You’ve got to be kidding me…