REG Study Group – Q1 2018 - Page 23

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  • January 29, 2018 at 5:07 pm #1703194
    C Dubs
    Participant

    I just came from taking REG. It was harder than I thought it would be. If I had to guess I would guess that I passed, but it really depends. There was one page of a sim that I had no idea what to do with. I know I got 0 credit for that page. Hopefully that sim is the one that will be thrown out. The other two were easier.

    The first MCQ testlet was surprisingly easy but the second I had to guess about 6 of them I would say. I am going to move on to FAR now but I'm definitely not feeling cocky. All I need is a 75.

    January 30, 2018 at 10:42 am #1704990
    hawk77
    Participant

    I also use the Gleim program. I do understand repeated questions have an effect on the scores, they seem pretty set on max study time needed and limiting the repeats. I think the ninja notes or something similar might help with the dense info in REG. Myself, I write notecards, we will see..

    FAR - April 5, 2016
    AUD - May 28, 2016
    REG - TBD
    BEC - TBD

    January 30, 2018 at 11:26 pm #1705242
    terence
    Participant

    Hi,

    May i ask if anyone could explain to me for the R5 SIM 2 question in Becky? I get really confused the answer it provided.

    This question ask the amount of gross estate should be included for the life insurance Jack Peter owned when he died.

    Question:
    Life insurance

    Owner :Jack Peter Irrevocable Life Insurance Trust
    Insured : Jack Peter
    Beneficiary: Jack Peter Irrevocable Life Insurance Trust
    Face Amount : $ 5000,000
    Replacement Value :$120,000
    *Policy gifted by Mr Peter to Jack Peter Irrevocable life Insurance Trust on Feb 27, 1998.

    Answer : $5000000

    Question : 1. what is the meaning of Replacement value?
    2. This is a irrevocable life insurance Trust, why this count on Jack Peter's Gross estate?

    Thank you.

    Terence

    January 31, 2018 at 5:28 am #1705278
    Jeni
    Participant

    Actually the exam was hard and needs much dedication towards preparation!

    January 31, 2018 at 5:32 am #1705281
    Jeni
    Participant

    Hope would clear it next time with perfect preparation frds….

    January 31, 2018 at 11:34 am #1705432
    candidate2017
    Participant

    Can someone please explain the below. it's from the AICPA new sample test. thanks

    On May 1 of the prior year, Baker purchased equipment with a five-year useful life for a cost of $10,000. Baker adopted the MACRS depreciation system and did not utilize any special depreciation deductions. On March 1 of the current year, Baker sold the equipment. The MACRS depreciation schedule for five-year property is listed below:

    First year – 20.00%
    Second year – 32.00%
    Third year – 19.20%

    What amount of depreciation can Baker deduct in the current year?

    $ 533

    $1,600 correct

    $2,000

    $3,200

    January 31, 2018 at 12:19 pm #1705443
    Katie
    Participant

    @candidate2017

    You get 1/2 year depreciation in the year of purchase and sale. 1/2 year is already built into year 1.

    Since the equipment was sold in year 2, you can only take 1/2 year depreciation for year 2. Therefore 10,000 x 32% x 0.5 = 1,600

    January 31, 2018 at 12:23 pm #1705446
    candidate2017
    Participant

    I believe I got it.
    10,000 x.32 =3,200 /2 Half-year convention = 1,600

    January 31, 2018 at 12:24 pm #1705450
    candidate2017
    Participant

    thanks Katie

    January 31, 2018 at 5:52 pm #1705543
    Eric
    Participant

    Hi All, I scheduled REG for Feb 16, and I am just about to study. I can probably study 3 hours per day, 10 hours during weekends. about 70 total study hours. Hope this is gonna be enough for 75.

    February 1, 2018 at 9:53 am #1705728
    Apii
    Participant

    Hi

    I am appearing for exam on Feb 3, Wish me luck guys and send me positive vibes. I am becoming CPA soon..
    Keep up the spirit !!

    February 1, 2018 at 1:36 pm #1705855
    Katie
    Participant

    @Eric

    I studied ~150 hours and am no where near confident I got a 75 (we'll see on 2/6). Maybe you've taken the exam before or have some experience, but I'd say that 70 isn't enough for most people.

    February 1, 2018 at 2:00 pm #1705866
    Defo
    Participant

    Did anyone listen to the free REG lecture from Wiley? They said it would be available to download for those who registered, and I am just trying to figure out how to access it.

    February 1, 2018 at 6:59 pm #1705963
    Jmac645
    Participant

    Hey guys, so I’m studying for REG..I took it twice now. I got a 67 about a year & a half ago. I took & passed a few other sections, then retook REG in December 2017. I felt better coming out this time, actually felt pretty decent..only to end up with 2 points worse than the first time i took it. The first time i took it i knew i failed immediately, so it makes absolutely no sense to me. Anyway, I immediately signed up again & scheduled it for Feb 17. I work full time, but I figured I could manage because I just took it in December. Ive been studying 1-2 hours a day during the week & more on the weekend (although I work Saturday’s).

    Anyway, I come to you guys looking for a little advice. Anyone who’s taken it recently or just wants to help, do you have any advice on areas to study more? I’m closing in on the exam, with 2.5 weeks left to study. The past month i studied strictly tax, doing MC testlets of 5 over & over. I feel pretty good so far, nothing too crazy that I dont know. I’m trying to nail down the smaller details. Now I’m studying the b law & other stuff, giving that a solid week of dedication before reviewing all together for the last 2 weeks. Does anyone know the stuff thats changed between December & now? My understanding is not much, i know the securities stuff changed in that rule 505 was eliminated & now its only rule 504 & rule 506 under regulation D in the 1934 act. To my knowledge, thats really it on what’s changed material wise. Anyone know anything else?

    Anyone have any tips too? Any help is appreciated, ive beenstudying for almost 2 years in total & need to finish these damn exams. FAR retake in the spring is all I’d have left if i can pass this one. Thanks!!

    February 1, 2018 at 9:47 pm #1706058
    gguzman
    Participant

    @jmac

    I also work full time. I used to get up early and study for an hour before work, and then 3 hours when I get home. I realized I am not really retaining anything in the morning, so now I get 4 hours in at night. There are times when I get to 3 hours and my mind goes blank and I am no longer retaining anything, so I try to take a break; if that doesn't work I go to bed. I studied REG and took it last NOV and failed, I studied for FAR and failed. I erased my progress in Becker and am doing everything all over again. Not sure if I will pass, but I am realizing exactly what I need to work on and what I need to fine tune.

    I suggest checking out the AICPA blueprints. Whenever I see a form referenced in my study material I will pull it up and look at it 1040, 1041, 1120, 1065, schedule K-1 etc…. I am realizing that the answers are all right there on the forms. I am also doing the Becker Final Review, which includes more lecture and more MCQ. My goal 2 weeks out is to get at least 100 MCQ's in and a few TBS's a day. Whenever I get a minute I play accounting for empires. I have not quantified how many MCQ's accounting for empires gets me per day, but its something quick I can do.

    When we get cut we need to bleed CPA exam knowledge.

    the only difference I can think of is the one you stated.

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