This is exactly as it appears, and works well in the field. The clipboard gives you more flexibility than the type where you have to insert the back of your pad in the slot, which is essential for me. I need a calculator so purchased the little solar Casio calculator in its own little folio and gorilla glued it over the card holder closest to the pad - I was worried but it works perfectly for me. The snap-close container easily holds two comb-bound presentations of approximately 20 pages each. I wouldn't fold this back to use it as a clipboard the way I have modified it but you could because everything is buttoned down tightly.
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