[emichelle2321]

I have 5 days until my exam and I have not even touched business law and still have a lot of review to do on partnerships and S corp.

For those of you that have taken REG since the exam changes in Q2 – can you please recommend the specific areas of BLAW that I should allocate study time to time to?? Starting to freak out.

Thank you!!!

[Anonymous]

There aren't any specific areas to focus on in my opinion. There is so much material to cover and only so much they can test you on, so it is really luck of the draw when it comes to what you see on the exam.

5 days out means there is still time to cover a lot of ground. What you need to do is put in 5+ hours a day (10+ if you can handle it) and what I would do is go through all the practice application questions in the NINJA book from each chapter. That will give you a nice overview of what to expect. Anything that you feel you need to cover in more detail then you can just scan over the rest of the text for that topic. Then do the same for Partnerships and S-Corps.

I am retaking this section and if I were to guess have put in over 300+ hours of study time. Still wish I had more time.

If you get through those topics, be sure to practice the SIMs as much as possible. Particularly knowing how to prepare individual and corporate tax returns (each line item in detail) and also knowing the property transactions and basis inside out. SIMs make up 50% of your score, so you don't want to come up short and miss easy points here. Plus when you practice SIMs, they tend to be more comprehensive than MCQs, so you get to cover more ground when you practice them.

Cram as much as possible, even if you don't get a pass this time around, intensive studying for the next 5 days will help if you have to go in for a retake.

[Peter]

Ha, I came to this site to ask the same question. My exam is tomorrow afternoon and I should be through the first chapter of business law (agency, contracts, suretyship, secured transactions), but not the other (bankruptcy , federal securities regulation, “other,” business structures). Wondering if I should even bother with that last chapter at all, or try to get an overview on any of those topics. I thought agency & contracts had a lot of good information in it that wasn't super difficult to understand, but we'll see how many questions I actually get on them…

Feeling pretty confident otherwise from working in tax, but will need to review certain sections tonight/tomorrow morning. Hoping to see some other responses!

And good luck!! Hope you are able to pass the last one 🙂 This is my third, with FAR left to go.

[Cards18]

You definitely want to go over contracts, common law requirements for a contract vs the UCC and when each applies (UCC applies only to sale of goods), know what's needed for a modification to a contract, what's needed for acceptance of a contract to occur under each, know that revocations are generally effective when received, and acceptances are effective when dispatched (the mailbox rule). You'll probably see one or two questions on the parol evidence rule, which basically disallows any verbal statements made prior to or contemporaneously with the contract signing from being used at future hearings, but does not effect future verbal arguments subsequent to the contract being signed from being administered. Know the security regulations (especially criteria necessary under the 1933 act vs the 1934 act to recover due to fraud/misrepresentation), and know the basics of bankruptcy, which chapters of bankruptcy are available, criteria to be involuntarily petitioned into bankruptcy…

Understand sureties, what happened if one is released as a surety and what effect that has, etc. Understand requirements to attach and perfect, and have an idea of the order of preference for secured transactions.

I always found agency to be pretty straightforward, but basically know who's liable for contracts entered into with a disclosed principal, and then an undisclosed one. Otherwise, there's plenty of nuances to blaw, but if you know these key elements for each section I highlighted, you'll have 90% of blaw covered.

And yes, you need to study blaw before taking the exam! You don't have enough cushion to go into the exam without studying blaw a bit.

[emichelle2321]

@Cards18 – THANK YOU!!!!!

[Author]

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