70% on REG… HELP! - Page 2

@ posty: Taxation is a major component in Regulation. When I was preparing for REG I considered about 70% as taxation and 30% business laws. Number of hours studied is not the criteria, how much we have understood the concept is important. They will test very basic concepts / fundamentals and one should be familiar with. At times they will twist the question or they will through just half of the question from the previous exam question or they will double or slice the figures of the previous exam question. Each and every word is important in Schedule A & C (individual tax) and it looks very easy and they will torture you in the exam. I literally cried in the exam, because I know the concept and i am unable to apply to a particular question or simulation. Another important area is partnership taxation and take my word you will see atleast 6 MCQs and you must know the basis, gain or loss. You should know in and out of 1933 and 1934 laws. There are 72 MCQs in REG of which 12 are pretest questions which are not assessed for grading. There are 6 simulations and in which 1 is pretest.