Closed book, no notes exam, no calculator - the exam is made in such a way that at most mental calculations are used. The rest is qualitative reasoning or calculus problems that are nice puzzles.
Actually. with calculator you may need to calculate some stuff, we can handle floating point numbers, still not a problem.
Closed book, with notes - You think you are well equipped. Turns out, all the formulas you need are either in the appendix, or were so vital to the course you should have remembered them.
And then you screw up one identity function. RIP.
Open book exams, usually no notes - The absolute worst. The book is there so you can look up 1 or 2 things, which you must know where they are in the book and how to use. In my experience, these exams are packed with difficult questions that require deep understanding of the material, that it is hard work to finish in time.
So this calculator is an impressive bit of kit, but I've hardly had the opportunity to use even a basic calculator in my undergrad and grad exams.
I also wouldn't sit in the front few rows with this device, though.