[jeff]

This is for people taking their exams in the January/February 2010 testing window.

Recommended prep time for REG is 5-6 weeks @ 20 hours a week.

CPA Exam Score Release Predictions:

https://www.another71.com/cpa-exam-scores-results-january-february-2010-wave-1.html

[smrivera1]

My REG exam is on 1/31/10…I finished the Yaeger Home Study lectures a few days ago and am almost through the “recommended” multiple choice questions for the business law section. I hope to complete all of the recommended multiple choice questions at least 3 times over the next 12 days and leave myself a few days for final review (re-reading/writing my notes, practicing simulations, etc.). For those of you who have taken the Yaeger course for REG and passed the exam, have the “recommended” multiple choice questions been sufficient or have you practiced additional multiple choice questions above and beyond those recommended by Phil Yaeger? I was told by the Yaeger instructor hotline that the recommended questions are all I need…let me know your thoughts. Thanks!

Steve

FAR: 84, AUD: 82, BEC: 76, REG: 78

[Walt_Land]

Hello all,

Thank you for all your insight on exam prep… I am sitting for my first exam (REG) one week from today! The plan is to be finshed with the whole thing when I get scores in June (we'll see what happnens). I've had a long journey to even get to the point of taking the exam. I first took the in class Becker Review in 2007. I found out that I needed to take another class because I moved states after I graduated and my 150 wasn't good enough so I had to take another financial accounting course. Then I had some other hurdlss that I had to jump through to even be able to sit, so I'm looking at this as a blessing to even be at this point. I'm really more excited then nervous at this point, but I've read all the horror stories and am cautiously optimistic about next Tuesday (I've put in the time since December) but if anyone has any advice to a first time candidate, I'm all ears (eyes).

-Walt

REG 1/26 (78) FAR (this spring/summer)
AUD 3/2 (praying)
BEC 4/2? (Studying for now)

[77mgb]

Question from cpareviewforfree.com:

On October 3, Morton filed for relief under the rehabilitation provisions of Chapter 13. Morton’s primary goal was to use the provisions available in Chapter 13 to catch up a four month arrearage on his home mortgage. Six months after filing, Morton was unable to make the payments proposed in his plan and Morton’s case was converted to chapter 7. Which is correct?

A – Morton will be denied a discharge if he has received a chapter 7 discharge within the past 6 years.

B – If Morton has not previously filed for bankruptcy protection, his mortgage debt will be completely discharged.

C – Morton will be denied a chapter 7 discharge due to his failure to comply with his own chapter 13 plan.

D – If Morton was married at the time he filed his chapter 13 petition, his petition would be dismissed unless his wife joined the filing.

It says the correct answer is B. But does anyone know why A is not correct? They both look correct to me…

BEC-84 AUD-82 FAR-86 REG-82 Ethics-98

[TSword7]

77mgb: You can only file for Chapter 7 once every 8 years. 6 years is too short of a time frame that's why it would be denied.

BEC - 83 (7/09),FAR - 80 (11/09), AUD - 84 (1/10), REG -82 (3/10)

[AARON]

Hey everyone,

I am helping a buddy of mine with some CPA review (REG) and we came across a couple of topics/items we weren't really sure on… could anyone help:

1. Is Section 1231 gain part of ‘Net Profit'. I guess what I am asking here is… when looking at a Schedule C for a Business is Section 1231 ordinary income assumed to be part of the ‘Net Profit'? OR do you take ‘Net Profit' + 1231 Ordinary Income?

2. Are country club dues considered ‘entertainment' for a business and thus deductible 50%? OR do they not qualify as ‘entertainment' expenses for a business?

Thanks for your help!

? AUD - 87 (8/12/09)
? REG - 77 (1/15/10
? BEC - 77 (1/6/09 - Expired) / 79 (11/18/10)
? FAR - 75 (2/11/11)

[AARON]

Was able to answer one of our own questions: I guess country club dues are generally not-deductible… didn't know that… now I do.

? AUD - 87 (8/12/09)
? REG - 77 (1/15/10
? BEC - 77 (1/6/09 - Expired) / 79 (11/18/10)
? FAR - 75 (2/11/11)

[MAC75]

To everyone who has taken the exam this month….should we know the 2008 or 2009 tax rates?

[AARON]

I took the exam, without disclosing information, I would say know 2008 at minimum… know any major changes in case you see anything (exemption amount perhaps? gift exlusion amount?) my experiences so far suggest that knowing rates isn't as important as knowing how to apply rules.

? AUD - 87 (8/12/09)
? REG - 77 (1/15/10
? BEC - 77 (1/6/09 - Expired) / 79 (11/18/10)
? FAR - 75 (2/11/11)

[zena]

glogo2384, regarding #1, I believe it skips Schedule C and is reported in form 1040 (ordinary income/loss) and Schedule D (capital gain) from form 4797 (where you figure if the gain is ordinary or capital)

FAR 86 | BEC 94 | AUD 90 | REG 85
All done! used Becker

[AARON]

Thanks!

? AUD - 87 (8/12/09)
? REG - 77 (1/15/10
? BEC - 77 (1/6/09 - Expired) / 79 (11/18/10)
? FAR - 75 (2/11/11)

[MAC75]

Thanks glogo!

[Anonymous]

Go Yaeger! I finally understand AMT!!!!!

[Anonymous]

Wondering if I have a false sense of confidence.

This is my last section and I have worked through the entire Becker program. Nothing was shocking or too difficult with some of it coming rather easy. I'm now in my final study mode. This section seems by far the least difficult of all the sections I have studied. I guess I'm wondering is it just what happens to be a section I actually understand going into or does this section come off easier to most people than it actually is on the exam? What are your thoughts in comparison to other parts of the exam?

[Puerto Rico Romo]

This Saturday would be my third time taking Reg, when I took it the first time I was overconfident and didn't study hard enough, I also split my time with FARE which I did pass. The second time I took it completely botched the simulations and the written communications because I freaked out on them.

My best advice is practice your MCQ's don't panic, finish the reasearch and the memo's well and do your best on the sims and you'll do fine!

[Puerto Rico Romo]

Less than 15 hours for me here. Hopefully I studied enough to get me over the 74 hump!

[Author]

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