[futureCPA12]

Hey everyone,

So I just passed FAR and I’m really ecstatic about it. My next exam is REG in a little less than 4 weeks. Does anyone have any tips in studying for REG? I’ve already completed my Becker FastPass course and now I’m just reviewing the online videos and doing homeworks. They say that the exam is 80% Tax and Ethics and 20% Business Law. Is that pretty accurate? Also, what should I expect with the Sims and what is the best way to prepare for them (if any)? Thanks for any help you guys can provide.

Happy studying!

Jeff

[peetree]

While it is true that the exam has more tax content, it is more than likely for that tax content to show up in the sims leaving a lot of room for business law in the multiple choice. If I were you, I wouldn't completely ignore the business law chapters. Make sure you have a firm grasp on the major concepts as well as a thorough understanding of the tax topics.

FAR 02/21/13 - 95
REG 07/02/13 - 87
AUD 08/02/13 - 94
BEC 08/30/13 - 85
Ethics Exam - 90

Illinois candidate awaiting his license

Used Becker Self Study | Ninja Audio | Becker Flash Cards | Ninja Notes | Wiley Test Bank

[Anonymous]

I'd recommend memorizing the formulas to solve the tax MCQ, not exactly the tiny individual amounts (except the big ones). I'd also recommend going to the Wiley test bank and hammering out Law MCQ, to get an idea of how they ask the questions.

If you learn how to use the AL well you can also help yourself with “impossible” looking sims.

Best of luck.

[WestonM]

“I'd recommend memorizing the formulas to solve the tax MCQ, not exactly the tiny individual amounts (except the big ones”

Could you clarify what is tiny and what is big? For example, is it expected for me to know the numbers for the exemption formula for AMT?

BEC: 93 4/18/13
FAR: 89 7/3/13
REG: 90 8/30/13
AUD: 95 11/29/13

DONE!

[futureCPA12]

Yeah, AMT really worries me. My dad is a Tax Partner so he's going to help me with that stuff, but for some reason it just doesn't click with me…

[Anonymous]

Like the 10% casualty, 50/30% contributions, 10% Medical, etc.

AMT I would just know the overall formula of adjustments, preferences, etc.

[NC CPA]

I would say go for the concepts especially estate taxation. Business law will be there but the stuff is not hard to grasp. May be its just me but I did not receive a lot of computational problems. The problems focused more on concepts. I was really scared as I did not have a clue in 2 sims and the research question was also tricky. However, I managed to pull off a 84 which more than decent for me

FAR: 90 MAY 6 2013
AUD: 99 MAY 29 2013
REG: 84 July 1 2013
BEC: 85 July 31 2013

[WestonM]

@abbzolute and @NC

Thanks. Did the AL help on the sims all? On far I had one sim that had an example of my exact problem in the AL! Other than that AL wasn't of much help to me.

BEC: 93 4/18/13
FAR: 89 7/3/13
REG: 90 8/30/13
AUD: 95 11/29/13

DONE!

[NC CPA]

I found AL for one of the sim as I had no idea how to approach it. But AL of tax is no way simpler and easier to understand than AUD AL. Nonetheless, as they something is better than nothing. The AL helped me out to a certain extent though. In a nut shell, I would advise you to prepare as hard as you can for tax section because the sims will surely be brutal as it is normally witnessed by everyone.

FAR: 90 MAY 6 2013
AUD: 99 MAY 29 2013
REG: 84 July 1 2013
BEC: 85 July 31 2013

[smp73]

Endless MC. Making sure you know the reasons why the answer is right and why the other answers are wrong.

Make sure you are familiar with the AL. It will help with those beastly sims. Like some other posters said remember the “big” formulas….(ex. casualty (with the floor)) but I wouldnt spend your time on the tiny tiny formulas although as you probably know anything is fair game.

I did a few practice sims for my last go around with REG just to work on my AL skills and then went back to endless MC!

NYS CPA License # 113563
CIA: Done as of 2/15/14

Training for a half marathon post studying!

[CPA Exam]

Unless you are a genius, be prepared to be overwhelmed by the simulations. I honestly didn't know how to do a single one of my simulations and the authoritative literature is probably the most poorly written thing that I have had the displeasure to read. Business Law is not really covered too much on the exam, but definitely know perfection, attachment, contract law, and the different corporate formations that can exist.

Seriously though, know your tax. If you truly know your tax concepts well and understand them, you should be able to pass the exam.

Audit: 97
BEC: 92
REG: 89
FAR: (8/30/2013)

[Anonymous]

As others have said, do a lot of multiple choice and TAKE NOTES on every single question you get wrong, and even on questions where you were correct but feel like you should reinforce the rule. Make sure to do new multiples choice questions – don't just repeat the same ones over and over which is, in my experience, entirely unproductive.

Also, do NOT neglect federal tax procedures and ethics and responsibilities in tax. Becker basically provides a wall of text that seems to go on for 20-30 pages on this stuff, so it is easy to bypass it because it is sort of overwhelming.

[Author]

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