[jeff]

Welcome to the Q3 2017 CPA Exam Study Group for REG. 🙂

Introduce yourselves and let your fellow NINJAs know when you plan to take your REG exam.

The Five Steps (NINJA Framework): https://www.another71.com/pass-the-cpa-exam/

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

[CPA so close, so far away]

I would read Corporate to get the main points. I feel like you can pick up depreciation rather easily by doing MCQs.

[CPAIN2K17]

This is potentially my last weekend studying for this exam. I have been studying every weekend since January. It is super rainy and dreary in Oklahoma today, and its taking all I have not to lay down and be lazy lol. Going to do a Wiley practice exam this afternoon I think.

[pharaoh]

According to the Securities Act of 1933, which of the following statements is correct regarding an issuer of securities?

A.All securities issuers must provide potential investors with a prospectus containing specified information.

B.An issuer is permitted to advertise an initial offering of securities only through distribution of the prospectus.

C.All securities issuers must register the securities offering with the Securities and Exchange Commission (SEC).

D.If an issuer sells a security and fails to meet certain disclosure requirements, the purchaser may sell it back to the issuer and recover the price paid.

FAR 8/2016
AUD 1/2017
REG TBD
BEC TBD

[rwglapalma]

@CPA so close, so far away Thank you, I think I will do just that

[CPA so close, so far away]

@Pharaoh is it C? Banks, Railroads/Transit Co., Insurance Polices, Charities, Governments, and Short Term commercial paper are exempt from registering?

[GinjaNinja]

@Pharaoh I believe the answer is “D.” Under the 1933 Act, a purchaser has a right to rescind if the
issuer doesn't meet the disclosure requirements.

[CPATY]

I want to add supplemental studying material to Becker to gain more of an understanding. I've used Wiley before, and thought it was great. However, I've read that Gleim has definitely improved since their latest upgrade. However, Gleim is $150 more than Wiley, I wanted to see if anyone on here has had a chance to compare both?

[CPA so close, so far away]

@Ginja Isn't rescission not available under 1933 section 11?

[BBHYX]

@Pharaoh I would pick D but only through process of elimination as I think the others are all false….that is a hard one

[CPA so close, so far away]

You guys are right…I read the question WRONG. Good way to give away easy points.

[EastCoastGirl22]

Can anyone give feedback PLEASE on adequacy of Becker materials for 2017 test? I have studied over 160 hours already, but am VERY nervous about SIMS…….should I be investing in additional study materials? 4 weeks left to test 🙁 Still struggling with information retention? How did Becker folks fare on exam in Q2/Q3? Any advice would be greatly appreciated (without you having to give too much details ofcourse)

[CPA so close, so far away]

@EastCoast use Wileys free trial to get additional exposure to sims. They have a lot and will help you. That's what I am doing, and it's free.

[GinjaNinja]

@CPA so close so far away
Rescission is available under Section 12 if the issuer doesn't meet disclosure requirements.

[pharaoh]

It is D

FAR 8/2016
AUD 1/2017
REG TBD
BEC TBD

[pharaoh]

I guessed this one right of what looked as making sense but this is not something covered in the materials

An attorney representing a debtor under Chapter 7 has the following (non-inclusive) obligations under the Bankruptcy Code:

I.The attorney must reasonably attempt to guide the debtor to a reorganization style of bankruptcy (Chapter 11 or 13).
II.The attorney must file an affidavit noting the attorney has informed the debtor/client of the different forms of bankruptcy relief available under the Bankruptcy Code.
III.The attorney must agree to reduced legal rates for Chapter 7 versus Chapter 11 bankruptcy filings.
IV.The attorney must attempt to reasonably verify the accuracy of an individual debtor's supporting schedules (including debts and resources) and bankruptcy petition.

A.I and III

B.II, III, and IV

C.I, II, and IV

D.II and IV

FAR 8/2016
AUD 1/2017
REG TBD
BEC TBD

[Author]

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