[jeff]

Resources:

REG 10 Point Combo: https://www.another71.com/products-page/ten-point-combo

REG Exam Experience: https://www.another71.com/cpa-exam-forum/topic/reg-exam-experience-official-thread

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

[LSNYC]

@InfernoOmni both, i hate them both…..I am going to try a few right now using these tips and see how it goes

@ Mel4CPA I hope you feel better, relax today don't stress yourself out to much that is never good for an injury.

I am getting in so MCQ on all the topics i have covered today. A review and a way to fit some stuff in while cooking and cleaning. Depending on how much wine i drink today I may do a few more questions tonight.

Hope everyone has a great holiday if they celebrate and if not go to the movies and Fridays!

A - 61, 91!!
B - 78!
F - 76!!!
R - 71, 73, 74, 69, 77!!!!

Finally done!

This is my 2nd attempt at the exam, I had two parts passed (failed many) and I stupidly quit, big mistake. Now I'm back and with a vengeance!

[Anonymous]

Hi all, checking in! R-3 is slow going. 🙁

Mel, I hurt my back this morning, too. Hubby was kind enough to help me get socks on, phew. I've been doing the Insanity workout since last July and it really does work, just need to be careful when you're in your 40s (apparently). I took an Aleve but it didn't help, considering something stronger, but I know that affects my studying. Grumble.

I feel like I missed a class in my MSA. I did not take corporate taxation, in fact, I intentionally put off tax until I was disallowed from graduating until I got enough tax credits. So, I took Individual, Tax Research, Taxation of Tax Exempt Entities, and a miscellaneous tax issues class. It seems like they've helped for the exam overall, but I have no corporate taxation experience and no education to back me up. Needless to say, I'm floundering!

Someone around here has “Pray, Pray, Pray” in their signature. I'm thinking there's gonna have to be a lot of that going on here. Dear God…

[smp73]

@Mel4CPA Hope you feel better!

I woke up rather sick. Not sure if studying will happen. 🙁 I took a half day off tomorrow for some extra study time so hopefully I won't fall behind. If I do I may have to reschedule the exam. Typing this made me tired…back to bed. Hope everyone gets some good studying done today!

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

Training for a half marathon post studying!

[Zaq]

Can anyone provide any assistance on this Wiley Question?

“Which of the following are exempt from the registration requirements of the Securities Act of 1933?

A. Participation interests in money market funds that consists wholly of short-term commercial paper.

B. Bankers' acceptances with maturities at the issue ranging from 1 to 2 years

C. All industrial development bonds issued by municipalities

D. Corporate stock offered and sold only to residents of the state in which the issuer was incorporated and is doing all his business”

The correct answer was D.

I understand that securities offered and sold intrastate are exempt from registration. However, I recall Becker referring to the BRINGS mnemonic that suggests that Banks, Railroads, Insurance, N4P's Governments, and Short-Term Commercial Paper also being exempt from registering.

The only thing I can think of is that the items listed from A through C aren't actually securities? From my understanding, securities are defined generally as any investment item that works to make a profit for the user over a period of time.

Is there something obvious that I'm overlooking?

FAR: 50, 76!
REG: 74... (ouch baby, very ouch), 76!
AUD: 65, 91!?
BEC: 80! Aaaand doneskies!

May 2012 to August 2013. Can't believe it's over.

[Anonymous]

Inferno-

The reason the correct answer is D is due to the fact that the securites are being sold INTRAstate only. Therefore, no federal law would be able to require registration (i.e. Sec Act 1933) so they would be exempt. The first two are definitely securities, the municipal bonds don't qualify because they are not for “Governmental” purposes therefore, the only applicable choice would be D.

[Zaq]

Yeah, I understand why D is correct.

What I'm failing to understand is why the BRINGS mnemonic does not apply to options A, B, and C. Your explanation of C makes sense, but I don't quite understand why the first two options weren't ALSO exempt.

FAR: 50, 76!
REG: 74... (ouch baby, very ouch), 76!
AUD: 65, 91!?
BEC: 80! Aaaand doneskies!

May 2012 to August 2013. Can't believe it's over.

[hecubus330]

@ smp & LSYNC

Thank you for the birthday wishes!!

Yesterday I wore a gold crown while studying to celebrate my birthday.

A little over 24 hours til test time.

I'm camping out at coffee bean and doing MCQs all day.

I went through all the Becker and AICPA tax sims once to get familiar with the format.

I hope it's enough!

BEC -69, 69
REG -77 (expired), 79
FAR - ?
AUD - 65, 67

[wendywhite]

I was kidnapped by my family the past 2 nights. We had a nice dinner out – japanese hibachi – and then last night we went for 3 rounds of laser tag. My username was “thtoldlady” – – HA! I kicked butt! and got 3rd place in my last round. It was so awesome to take a break and not drag through tax.

My goal is to finish the tax chapter 1 – (i already worked through 5-8) – I've got my bucket of coffee and am ready to go.

FAR 11/2012: 80
AUD 2/19/2013: 90
REG 5/14/2013: 76
BEC 11/2013: 85
Ethics: 100
Waiting on the packet....

[smp73]

@hecubus330 You got this! Good luck tomorrow. 🙂 Get a good night sleep tonight.

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

Training for a half marathon post studying!

[Anonymous]

Man i hate AMT and memorizing all this tax business..really hurts i do strictly audits at work. wish i had some tax experience just to relate to the topics..

[Anonymous]

By the way can anyone try and give me a summary of the M-1 Reconciliation to help me understand it a little better. im struggling with the questions and just wanted to get a better grasp on it. appreciate it!

[Anonymous]

Hi this maybe a crazy question but on wiley test bank when I review and hit “explanation” where does that show up?

[Michael_Chicago]

Just come back from REG (April 1, 8 AM) … . This is my first try of the CPA exam. i decided to start from REG. the exam is different than i thought… dont feel good about it.. i feel like all three testlets are the same diffcult . maybe the third testlet is even easier? is that mean i failed for sure if my questions get easier as it goes………. The SIM is all right, i had 30 minutes left for the research question but still didnt find it….

[Anonymous]

Any tips on REG exam? I have passed BEC and FAR, although they both seemed very overwhelming at the time, REG just seems like nothing is sticking! So many exceptions, do they test on the phase out amounts or we just need to know for calculating ourselves?

[koalialoalo]

@Michael_Chicago

REG is my second exam and i felt the same – it seemed like all 3 testlets were around the same difficulty which makes me scared as well since on FAR i KNEW i reached a difficult testlet and it didn't seem like the case here…super nervous

time wasn't quite an issue with me – i had lots of time to do everything and no sims gave me a lot of trouble besides one where i didn't quite understand the directions – i hate that the directions are never quite as detailed as i want them to be..

FAR (02/2013) - 85
REG (04/2013) - 77 (phew!)
AUD (04/2013) - 86
BEC (05/2013) - 82 done!

TEXAS!!

[Author]

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