A cutting tool for turning and/or boring operations can include a holder, a replaceable insert supported by the holder in a cutting position, and a clamp releasably coupled to the holder and configured to bear against the insert to retain the insert in the cutting position. The clamp can be releasably coupled to the holder without a threaded fastener. The cutting tool can include a retention mechanism for releasably connecting the holder and the clamp, the retention mechanism having alternate locked and unlocked states.