[jeff]

Welcome to the Q1 2017 CPA Exam Study Group for REG. 🙂

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

[aatoural]

@dtat – I just did the SIM you were talking about. Lets just say I guessed better this time. Got 5 items correct. But yeaH. That one was brutal!! And I did worst this time around on that SIM now I'm freaking out!!

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[HoosierCPA]

@aa yeah that one is ridiculous. I somehow managed to get 9 out of 11 but it was because I spent the entire time on that one alone lol. When you go back to the explanations its all fairly straight forward its just so much data to go through its almost impossible to do it timely. Some of my correct answers I would say were memorized from when I did it a few weeks ago. I still don't understand the bad debt part. I thought you expense bad debt based on the direct write off method and I swear the problem states it writes off debt (I think 2k without looking) but yet that isn't an option.

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[aatoural]

I had the same issue with the bad debt. Maybe is that they give the information in a very inefficient way (on purpose I imagine) but I looked for what was closest but of course it was wrong. I had not memorized anything at all.

is it me or the research questions in almost all of GLEIM SIMS are also harder to find?

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[HoosierCPA]

@aa my Gleim research is glitchy. I have emailed Gleim about it and they just tell me to clear my cache and cookies and it should fix it (it didn't). Basically I can make 1 search and after that the search field stops working. If I don't' make the correct search first try I might as well mark it wrong. I've occasionally been able to manually search for the right answer — in some ways its beneficial learning to manually search to get used to the structure of the IRC.

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[aatoural]

I might have had that issue too. I have never been able to use advanced search with them either.

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[aatoural]

For like-kind exchanges, the depreciation taken is the accelerated or the straight line?

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[RE2PECT]

@ dtatham10- I just looked up that sim you mentioned. I didn't do great on that one either. First time I got 4/11 and the second time was 6/11 lol. Not sure why, but I left almost half of it blank on the first try. Maybe I got frustrated and just wanted to see the answers lol. I brought my overall score up to an 80% for that SU on the second try so I guess that's encouraging.

I also had the same issues with the search on the AL. What I did was go onto a different sim and use it for the other problem. So if I was doing sim #2 I'd just switch to sim #3 and use the AL in there. Kind of annoying, but it still served its purpose.

Does anyone know if you can get partial credit for a research sim? I'd get the whole thing marked wrong in Gleim if I had the correct section, but the wrong subsection. I know with FAR and AUD you can get partial credit, but not sure with REG.

FAR: 75 Roger & Ninja (notes/flashcards/audio/MCQ)
AUD: 73, 81
BEC: 71, retake 8/29
REG:

[HoosierCPA]

@re2pect there is a becker video that specifically says there is no partial credit on the research.

@aa I'm not sure…I would think if they are using accelerated depreciation they would specifically mention it.

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[aatoural]

@dtat – they mention both accelerated and straight line. It is property unit 6 SIM 1.

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[aatoural]

Nevermind – I dot the answer from GLEIM that I did partially correct. When they give you both accelerated and straight line is because there is going t be a question with Section 1250/1245 recapture which is the lesser of of the excess of accelerated depreciation taken over straight-line depreciation taken or gain recognized.

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[HoosierCPA]

ah yeah I remember which sim you are talking about now.

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[aatoural]

The entire unit 6 SIMS boosted my self esteem from the unit 5 SIMS. I got 84% and the first time I had gotten 65%.

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[HoosierCPA]

I'm bombing this section bad…

Under the Bank Secrecy Act of 1970, as amended, if a bank’s customer engages in a transaction that is not the type of transaction that the bank would normally expect the customer to engage in, which of the following is not a duty of the bank?
a.Inform its board of directors if it files a suspicious activity report.
b.Inform the customer of the unusual transaction.
c.File a suspicious transaction report.
d.None of the answer choices are correct.

Explanation
Choice “b” is correct. If a customer engages in a transaction that is not the type of transaction that the bank would normally expect the customer to engage in, the

Rather then lean on the material I used real life experience. Typically a bank would notify you of unusual activity. This question specifically says they aren't supposed to?

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[aatoural]

WTH?!! I am guessing GLEIM. What unit is that? Hand't seen it. It all depends on the definitions they have under the Secrecy Act.

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[HoosierCPA]

haha @aa you aren't going to see me posting any Gleim mcq's on here. I avoid those things at all costs! It's Chapter 8 Becker “Monday Laundering” Question 8 CPA-06099.

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[Author]

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