Is this calculator acceptable?
According to the criteria on the Institute's website the following calculator is permitted in the exams, surely this can't be right, can it!?
CASIO FC-200V
It is capable of the following functions:
(Casio)Financial Consultant Calculator FC-200V.Mode settings,parameters and many more settings can be regitered as a shorcut for recall, with the touch of a key.This provides you with an instant access to your setups and repeat calculations.Features;- Simple Interest- Compound Interest.- Cash Flow(Investment Appraisal)- 1.net present value- 2.net future value- 3.interest rate of return.- 4.pay back period.- Amorization- Depreciation- 1.straight-line method.- 2.fixed percentage method.- 3.sum of years.- 4.declining balance method.- Bond Calculation.- Break Even Point Calculation.- Day/Date Calculations- Cost,Selling Price Margin.
This sounds like a very handy calculator to own, especially when studying CT1, but I can't see where in the Institute's criteria it prevents us from using it in the exams. If that's the case, think I'll treat myself to one for xmas!
http://www.actuaries.org.uk/Display_Page.cgi?url=/students/examregs.html
7. For examinations copies of actuarial tables including a list of standard formulae will be available to candidates in the examination room. Candidates may use electronic calculators in all the examinations subject to the following conditions:
(i) Candidates must provide their own calculators.
(ii) Under no circumstances should hand-held personal computers, of any description, be taken into the examination room.
(iii) Calculators must be silent, have visual display only and be battery or solar operated.
(iv) Calculators with the following functions and facilities are not permitted data banks, dictionaries, language translators, retrieval or manipulation of text, graphics display or external communications.
(v) Any stored data and /or stored program facilities must be cleared before the calculator is taken into the examination room.
(vi) No extra time will be allowed for candidates who do not use calculators or whose calculators break down in the course of the examination.