[jeff]

Welcome to the Q1 2016 CPA Exam Study Group for BEC.

Some BLITZ videos to help your exams: https://www.another71.com/ninja-blitz

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[FAR_WARS]

Answer (b) is correct because this describes the modeling phase. Answer (a) is incorrect because the design phase involves design of the new proces

also, I posted this a while back:

The five principles of COBIT 5.
(1) Meeting stakeholder needs
(2) Covering the enterprise end-to-end
(3) Applying a single integrated framework
(4) Enabling a holistic approach
(5) Separating governance from management.

Business Objectives
-Decision Support, Transaction Processing, Compliance

Governance Objectives
Strategic Alignment, Value Delivery, Resource Management, Performance Measurement

Information Criteria
-Integrity, Confidentiality, Efficiency, Reliability, Availability, Compliance, Effectiveness

IT Resources
-Applications, info (input/output), Infrastructure, People

Domains and Processes
-Plan & Organize, Acquire & Implement, Deliver & Support, Monitor & Evaluate

FAR- 80
BEC- 75
AUD- 78
REG- ?

[payaza2000]

Troy Toys is a retailer operating in several cities. The individual store managers deposit daily collections at a local bank in a non-interest bearing checking account. Twice per week, the local bank issues a depository transfer check (DTC) to the central bank at headquarters. The controller of the company is considering using a wire transfer instead. The additional cost of each transfer would be $25; collections would be accelerated by two days; and the annual interest rate paid by the central bank is 7.2% (0.02% per day). At what amount of dollars transferred would it be economically feasible to use a wire transfer instead of DTC? Assume a 360-day year.

A.
$125,000 or above

B.
Any amount greater than $173

C.
Any amount greater than $62,500

D.
Any amount; it would always be economically feasible

Can someone explain this one for me. FY I hate these type of questions.

FAR 5/6/2015- 84
REG 8/3/2015 - 87
AUD 10/25/2015- 69 1/20/2016 -75
BEC 2/26/2016- 80

Thank you God

[NYaccountingstudent]

I just bombed Practice Exam 2 on Becker

Testlet 1 16/24 correct
Testlet 2 12/24
Testlet 3 12/24

Averaged out to a 56%

My test is Thursday so my confidence is really low

[monikernc]

Payaza, for Q above. The question is asking what is the minimum wire transfer amount that justifies the $25 cost for the transfer to get the money into the account that pays 7.2% annual interest 2 days faster, given that they earn no interest on the account where money sits until the check they are issuing now, clears.
7.2%/360 = .0002. This is the daily rate of interest they will earn. .0002*2 = .0004 for the 2 extra days. $25/.0004 = $62,500. That is the minimum amount they will want to transfer because the interest earned on $62,500*.0004 = $25, meaning they will breakeven on the cost of the wire transfer. Any amount below $62,500 won't justify the cost of the wire transfer. Any amount over will pay interest in excess of the cost.

FAR 7/25/15 76!
AUD 10/30/15 93
BEC 2/27/16 82
REG 5/23/16 88!
Ninja Book and MCQ and the forum - all the way!!!
and a little thing i like to call, time and effort!
if you want things to change, you have to do something different

[Anonymous]

@NYaccountingstudent, I feel you: I got a 60 on the second exam. After my review I realized I lost quite a few points to not reading the question – so frustrating. However there were several questions that I had no idea how to solve. I am trying to not let it get to me.

Hang in there…we are all in the same boat and remember misery loves company. 🙂

[Anonymous]

@ MaLoTu, IT is heavily tested. I got tested on the COSO Framework applied to cloud systems. Make sure you look at that! I think that was the main reason why I took the exam 3 times because areas that I did not focus that much on got heavily tested

REG:77
BEC:73/74/81
AUD:58/76
FAR:74/84 and done for ever!!! Time to apply for my license!! YAYYYY

[NYaccountingstudent]

3 Questions. My test is tomorrow and i have not really reviewed the writing portion at all, ive been putting all my time into MCQs

1. Should i just read various answers to the simulations in NINJA MCQ tonight?
2. What format should my answers be written in?
3. What are buzz words?

[MaLoTu]

@NY – I posted a link a couple pages ago where I wrote a pretty basic sample that would be good enough to get you the credit on WC, IMO.
Buzz words are words that they really focus on through the lectures/book. For example, If the question is related to economics you would probably want to include words like GDP, curve shifts, monetary policy, fiscal policy, inflation, etc. When I read the question I would jot down a few words that came to mind then try to include them in there.
You can read a few examples from each chapter, but the MCQ is enough to get you through the WC.

[MaLoTu]

@Agus – where is that information found? I know Becker talks a bit about internal controls in the IT section, but it isn't in depth.

[monikernc]

COSO ERM FOR CLOUD
https://www.coso.org/documents/Cloud%20Computing%20Thought%20Paper.pdf

posting from my phone so you may have to google it

FAR 7/25/15 76!
AUD 10/30/15 93
BEC 2/27/16 82
REG 5/23/16 88!
Ninja Book and MCQ and the forum - all the way!!!
and a little thing i like to call, time and effort!
if you want things to change, you have to do something different

[MaLoTu]

It worked, moniker! Thanks so much … I will look that over.

[FAR_WARS]

If an investor's certainty equivalent is greater than the expected value of an investment alternative, the investor is said to be:

a. Risk indifferent.
b. Risk seeking.
c. Cautious.
d. Risk adverse.

FAR- 80
BEC- 75
AUD- 78
REG- ?

[MaLoTu]

D?

I haven't seen any questions like that in Becker … I wonder why? Nothing about Foreign currency either … so weird because I know it is in there.

[NYaccountingstudent]

D? Because he needs to be more then certain he will get more then the expected value?

[FAR_WARS]

Check B6, they threw a bunch of random stuff in at the end.

Choice “b” is correct. If an investor's certainty equivalent, the point at which the investor is indifferent to risk, exceeds the expected return on an investment, then the investor is actually seeking lower return for higher risk. This behavior represents risk seeking behavior.

FAR- 80
BEC- 75
AUD- 78
REG- ?

[Author]

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