[jeff]

Welcome to the Q4 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/

[CoachEmUp]

Boom! I may have been right on our physical duress discussion from a few pages ago in this thread:

Johns leased an apartment from Olsen. Shortly before the lease expired, Olsen threatened Johns with eviction and physical harm if Johns did not sign a new lease for twice the old rent. Johns, unable to afford the expense to fight eviction, and in fear of physical harm, signed the new lease. Three months later, Johns moved and sued to void the lease claiming duress. The lease will be held

A Void because of the unreasonable increase in rent.
B Voidable because of Olsen’s threat to bring eviction proceedings.
C Void because of Johns’ financial condition.
D Voidable because of Olsen’s threat of physical harm.

Answer is D.

[Tipofga80]

I saw the duress post and in my google for clarity searches, I read somewhere that Duress-actual physical harm (Olsen hit John) is void and Duress- threat of physical harm is voidable.

Seriously doubt the exam gets this detailed with b-law.

REG - 77 (will lose in Jan 2016)

BEC - 67 74, 75

AUD - 56, 70, Will try again 🙁

FAR - ??

Save the beast for last.

[Earla Riopel (NYCARE)]

Hi @pharoah,
As to,
“What a horrible marriage that is 🙂

I would say answer B”

You're correct. And yes, it's horrible. The first time I heard this from one of my former REG Becker CPA review professors, I don't know what to think about the example given. But for sure, the whole class laughed! That was a long-time ago, but your previous “John and Mary gifts scenario”, reminded me of that day, that a related gift example was given to all us, in a UBC classroom instruction by Becker CPA exam review, many years ago.

Anyway, thanks for the reply. It actually makes you think when giving gifts. Definitely timing, and to whom you're giving to is so important.

[Andria – Another71]

Test Your Might: AUD – NINJA MCQ
Post your answer in the Facebook thread for a chance to win a NINJA Sniper Package of your choice (Book, Notes, Audio, Videos, MCQ/SIMS, Audio, & Flashcards – $197 Value).
One winner will be randomly chosen on Friday. HIYA!

[CoachEmUp]

Last call, can anyone help with the following:

Can someone explain on the AICPA practice test why on the SIM Question #2 the Remaining basis is $14,600? Can someone walk through that calculation? I don't see in way how the basis is that high.

I was able to figure out the other questions I had about the AICPA sims.

Taking the test tomorrow afternoon, ready to be done with this stuff!

[Tipofga80]

@Coachemup The only thing I can think of is we are recapturing deprecation in some way which is why the basis is high. I would just understand the MACRS portion of the problem for your exam and not stress out over this tomorrow.

REG - 77 (will lose in Jan 2016)

BEC - 67 74, 75

AUD - 56, 70, Will try again 🙁

FAR - ??

Save the beast for last.

[ayusdream]

i took my exam today, but the sims are very different from the ones i practiced. each sim only does not have long supporting documentations like i had in FAR, and i didnt get any sims for me to prepare any tax return which i was expecting it would come up, instead, i got questions that i did not get prepared like foreign income, pension, gifts, charities, etc and in the mcq, and i got like at least 15% of the laws terminologies. i think i needa prepare for a re-take

[pharaoh]

@ayusdream – as much as I appreciate the feedback, this might be disclosing more than we should.

What study material are you using?

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

[ayusdream]

oops, how do i edit my post? I used roger. i have a quick question, for the 2nd testlet of the mcq, does it tend to appear more questions that i answer incorrectly in testlet 1? how come i feel like i didnt get much questions that required calculations in mcq or even in sims. is that normal?

[Tipofga80]

@ayusdream if your are on a computer the edit button should be in the upper right corner of your post.

Do you feel like the questions were easier? I didn’t have very many calculations in the Q3 test. There’s no set rule when it comes to the type of questions you’ll get.

REG - 77 (will lose in Jan 2016)

BEC - 67 74, 75

AUD - 56, 70, Will try again 🙁

FAR - ??

Save the beast for last.

[Tipofga80]

If anyone is having trouble with Partnerships and Corporations, I found this CCH website helpful. https://tax.cchgroup.com/downloads/files/contemporary-tax-practice/M1-Partnership-Taxation/T1-Partnerships-General-Formation-Issues/A-Legal-Formalities.asp

REG - 77 (will lose in Jan 2016)

BEC - 67 74, 75

AUD - 56, 70, Will try again 🙁

FAR - ??

Save the beast for last.

[pharaoh]

Love it. Thank you @Tipofga80. is there anything similar for trusts?

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

[CoachEmUp]

About to leave for the testing center. Will try to post tonight with some general tips and hints. Ugh… this is the most unprepared I've felt, but will do my best to grind for 4 hours!

God speed.

[pharaoh]

Good luck @Coachemup

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

[Tipofga80]

@pharaoh Trust just started clicking for me a week ago. Which part is a little fuzzy? DNI would be the thing I would know for sure for MCQ's. I could see them putting a trust/estate tax return for SIMs.

REG - 77 (will lose in Jan 2016)

BEC - 67 74, 75

AUD - 56, 70, Will try again 🙁

FAR - ??

Save the beast for last.

[Author]

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