I was wondering do we need to remember formulae for those quant problems which can be easity be done in Calculator. For example Annuity due etc ? Because LOS only asks to calculate and interpret.

My understanding is that for the TVM formulas (e.g. Annuity Due, IRR, NPV, etc.) needed to calculate certain basic problems we do not need to memorize these formulas. This is probably also true for factorial formulas. However with respect to a better comprehension of the priniciples, I will add that it has been very helpful for me so far to understand what the formulas are doing whether you remember them or not. The other QUANT formulas that require application I think are an entirely different story though (e.g. HPR, BDY, EAY, SD, Mean, Variance, etc.). Again I add that this is my first attempt so I defer to any veterans out there. Best to you.

If you understand most of those concepts, you will automatically be able to recite the formulas.

Like this guy said ^ Be sure that you understand the concepts behind the formula and why the formula is calculated the way that it is. You will have both quantitative and qualitative questions related to the subject on the test. Many people are actually surprised at how little calculation is required when they take the test.