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Knowing the formulas is very helpful and you’ll likely continue using them into Levels II and III. But of course, its most important to understand the underlying concepts and how to apply it.
We have a calculator guide video that can help you learn the primary functions you need to know:
https://www.youtube.com/watch?v=Ehchb6Zvag0
Also if you want an easy to reference quicksheet/formula sheet, we have one free with a free trial of AdaptPrep CFA:
https://www.adaptprep.com/CFA/Level-1/Trial