[jeff]

NINJA Study Notes, Flashcards, and Audio: https://www.another71.com/products-page/

Wiley Software: https://www.another71.com/wiley-cpa-software/

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

[yankeeaccountant]

Thanks Jomarie!

[yankeeaccountant]

Hey Reg'ers…question for you.

I am sure I am being picky here, but I just did well on some mcq's (finally) but got one wrong that I am just not getting:

Under the REvised Secured Transaction Article of the UCC, what would be the order of priority for the following security interest in consumer goods?

I. Financing agreement filed on April 1

II. Possession of the collateral by a creditor on April 10

III. Financing agreement perfected on April `15.

a. I,II,III

b. II, I, III

c. II,III,I

d.III,II,I

The answer is A. I chose D. I chose D because perfection wins over filing right? In my mind perfection is the completion of the filing. isn't it? Maybe I am not understanding what filing is?

Any help with the wording would be great.

Thanks!!

[kb24]

@yankee

Sounds like you're really struggling right now. Email me at kbeckner24@gmail.com if you need a sympathetic shoulder.

FAR 4/1/11 - 89
AUD 4/15/11 - 85
REG 4/29/11 - 80
BEC 5/13/11 - 85

[jomarie]

yankee – you can never have enough shoulders to cry on. E-mail me at jomarieclarke@hotmail.com. We are all here for you!!

Started sitting in May 2002, on and off. But since 2008 I've been nonstop and my scores are....
AUD - 39, 48, 56, 65, 68, 73, 76!!! (Finally passed in Oct 2011!!!) Becker, NINJA, & Wiley
REG - 75 (Lost Credit) 72, 68, 73, 75 (Passed again in Aug 2011) Becker, NINJA, & Wiley
FAR - 65, 68, 75 (Lost Credit) 68, 73, 73, 80 (Passed again in May 2012) Roger, NINJA, & Wiley
BEC - 65, 68, 71, 72, 72, 71, 76 (Lost Credit)- 70, 76!!!! I AM DONE!!! - Roger, NINJA, & Wiley
After 10 long years of studying, I AM DONE!!!! Finally a Licensed CPA in the State of New York!!

[jomarie]

Ok I've moved passed Commercial Paper & Bankruptcy, I'm not to happy with my performance on them, but I'm moving on. Now I'm on Employment & Environment and I have a question. In 2011, Social Security tax for employees went down to 4.2% from 6.2%, but employers are still paying in 6.2%, and medicare stayed the same as 2010, which most of you know. Do you think they will test on the 2010 rates or 2011? I'm guessing on the MCQ, if they give you both options, I would answer with the most current law. I'm just wondering what everyone else thinks.

Started sitting in May 2002, on and off. But since 2008 I've been nonstop and my scores are....
AUD - 39, 48, 56, 65, 68, 73, 76!!! (Finally passed in Oct 2011!!!) Becker, NINJA, & Wiley
REG - 75 (Lost Credit) 72, 68, 73, 75 (Passed again in Aug 2011) Becker, NINJA, & Wiley
FAR - 65, 68, 75 (Lost Credit) 68, 73, 73, 80 (Passed again in May 2012) Roger, NINJA, & Wiley
BEC - 65, 68, 71, 72, 72, 71, 76 (Lost Credit)- 70, 76!!!! I AM DONE!!! - Roger, NINJA, & Wiley
After 10 long years of studying, I AM DONE!!!! Finally a Licensed CPA in the State of New York!!

[yankeeaccountant]

Allyson,KB, and Jomarie

Sincere thanks for your thoughts! Life is nutty.

[Anonymous]

I think they will not test the rates. If they do, they will probably supply them.

[jomarie]

@Allyson – That's what I was thinking. Since I work with that everyday, it was just something I was thinking about.

Started sitting in May 2002, on and off. But since 2008 I've been nonstop and my scores are....
AUD - 39, 48, 56, 65, 68, 73, 76!!! (Finally passed in Oct 2011!!!) Becker, NINJA, & Wiley
REG - 75 (Lost Credit) 72, 68, 73, 75 (Passed again in Aug 2011) Becker, NINJA, & Wiley
FAR - 65, 68, 75 (Lost Credit) 68, 73, 73, 80 (Passed again in May 2012) Roger, NINJA, & Wiley
BEC - 65, 68, 71, 72, 72, 71, 76 (Lost Credit)- 70, 76!!!! I AM DONE!!! - Roger, NINJA, & Wiley
After 10 long years of studying, I AM DONE!!!! Finally a Licensed CPA in the State of New York!!

[IwannaBaCPA]

Reading everyone's posts is helping me today…I am just beginning to get into my REG studying and am losing motivation fast! This is my last section and I am exhausted from this rollercoaster! I don't know how some of you have stayed on for so long…goodness I am about to puke if I don't get off soon!

good luck…I am pulling for all of you guys!

BEC: 79 - April 2011
FAR: 78 - May 2011
AUD: 81 - May 2012
REG: 79 - October 2012
Ethics: Passed - March 2013
I am finally DONE!

[yankeeaccountant]

Jomarie,

I agree with Allyson. I have read more posts about how the questions are more theory based, and that they provide the parameters. Seems like they are not testing the 2010 or 2011 specifics. Just my ..02……

Iwanna,

Welcome to the rat race….congrats on getting Audit behind you.

[Anonymous]

Just got in from work and read some of the posts here…sounds like it's been a rough study day! Yankeeaccountant – do you still have a question regarding that mcq above?

Could you perhaps be confusing the word “filing” with the word “attaching”? Attaching gives the secured party the rights to the collateral, but in order to have priority over 3rd parties, the the secured party needs to “perfect”, as well. –

There are 5 methods to perfect: filing, taking possession of the collateral, control, automatic perfection and temporary perfection. So the 3 ways in the example (filing, possession of collateral, and “perfected”) caused 3 perfected security interests – now all you need is to see which came first chronologically – I,II,III.

[Peanut]

I just got my @$$ handed to me by the Wiley Online Test Bank… I put capital letters for the entire name to show respect for the program that just “showed me what's up.” This is my third time around for REG, wish I had purchased Wiley for the second time around, then I might not be studying for a third time. I knew the Becker questions all tooo easy/familiar. Now I just need to master these Wiley ones..

AUD 81 (X4) Previous scores 59, 72, 72
REG 80 (X3) Previous scores 59, 60
FAR 75 (X2) Previous score 67
BEC 79 (X2) Previous score 58

[Whenindoubt]

I finally took REG all the way through today! I took it twice already and it blew up each time at the beginning of the sims. It feels great to have at least taken the exam in total now.

I agree with other people on this board in regards to some of the questions being off the wall. I studied using Becker, Ninja notes and Wiley test bank and put in 200+ hours on this exam. There were definitely things I had never seen in any of the material i covered.

Can I just say WTH is up with the sims? I'm thankful i follow this board otherwise I would have been completely blindsided them. I mentally prepared myself for it before the exam so I was able to skip the shock and move right into trying to figure out what to do.

Now I just have to sit and pray I did enough to get a 75.

Good luck to everyone still studying!

BEC: 75 11/8/10
AUD: 89 2/22/11
FAR: 78 5/17/11
REG: 72, 83 10/17/11
DONE!!!!

[yankeeaccountant]

hey guys,

a bit tired but no worse for the wear. spent the afternoon at my swanky study room at the library. our library lets us reserve rooms for study. they are great because you can drink and eat snacks in them. I even read the questions out loud….sooo awesome.

I digress..

Ok..my first Wiley trial test…not the greatest: 69.44. BUT, have to look at the bright side, it could be worse. I scored well in some areas…and that darn blaw….not so much. Commercial paper seemed to allude me today. Now onto reviewing weak areas and then some sims.

How often are you guys practicing sims? I did all the sims in Becker as well as the ones that Phil recommended. Did ok only. Let me know your thoughts.

@Thanks ACCT on the info on my mcq that was regarding attachment. I think I am getting mixed up on the semantics. I will go back and review.

To all the reg'ers who helped boost me today: Yo, thanks so much. I feel a ton better. Cue the “Rocky” music, I am going the distance!

Good luck this week.

[Whenindoubt]

@yankeeaccountant,

The Becker sims are a very simplistic approach to the actual sims (or at least the ones I got). It's still good to practice them though. I did the same just to make sure I was familiar with the tax forms in the event that any of those showed up on my exam.

Best of luck!

BEC: 75 11/8/10
AUD: 89 2/22/11
FAR: 78 5/17/11
REG: 72, 83 10/17/11
DONE!!!!

[Author]

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