[Anonymous]

now time and time again i see post on here saying how unimportant biz law is to the REG exam. many people say they passed REG without fully studying biz law. is this true?

i find it VERY WEIRD that biz law takes up 3/8 sections in the Becker book even tho its only 20%of the exam. it takes up almost half the book! wow! i feel like that becker telling me to focus on biz law more lol.

can somebody give me a cliffnotes version of the important biz law points? my exam is within 2 weeks and i havent even started MCQ. i assume contracts are huge. warranties? i have no idea

thx

[shmogma]

biz law is essentially 4/8s and I think its about 35% to 40% of the exam. feel free to correct me if I'm wrong.

I'm taking it next Saturday and am 50% through the material w becker. I noticed that I wasn't as prepared for 1-4 as I thought I was, but it's slowly starting to all stick now.

FAR - 80
REG - PENDING
AUD- PENDING
BUS - PENDING

[denivathar]

So in R5, The first 35 pages or so basically cover Ethics, not business law. The ethics can be 17-20% of the actual exam. The rest of R5 through R8 are business law.

I am taking REG a week from today and am already through all of the material. From the way Olinto explains things, the business sections are tested but not heavily. Its a good idea to have at least seen the material before, but it isn't necessary to memorize every detail and exception like the tax side of things.

My strategy so far has been to focus most of my energy on the tax things, then make sure that I know all of the ethics and then glance over the business law stuff to make sure I have at least seen it.

The cliffnotes version of blaw:

1. 1933 and 1934 acts
2. Know elements of a contract
3. Contracts under common law vs UCC
4. Statute of Frauds
5. Commercial Paper: Holders in Due Course and negotiability
6. Secured Transactions: Attachment vs perfection
7. Agency
8. Business Structures

REG - 94 (2/1/2016)
BEC - 88 (2/27/2016)
FAR - 86 (5/7/2016)
AUD - 89 (5/31/2016)

Using Becker Live Classes plus Ninja Audio

[shmogma]

is anyone taking time off this week to prep?

FAR - 80
REG - PENDING
AUD- PENDING
BUS - PENDING

[denivathar]

This whole week is gonna be heavy review for me. Not taking time off but I am working from home Friday so that I can review. I have only been sleep 3-5 hours per night for the past month (working full time and studying sucks to do on top of other responsibilities) but am making it a point to get decent sleep for 3 nights prior to the exam.

Good news is I just took the Becker Final Review #1 and scored:

Testlet 1 – 16/24 67%
Testlet 2 – 22/24 91%
Testlet 3 – 17/24 71%
Sims – 100%

So I'm feeling pretty good. Just need to review the things I missed on the MCQs and slow down so I don't make stupid mistakes.

REG - 94 (2/1/2016)
BEC - 88 (2/27/2016)
FAR - 86 (5/7/2016)
AUD - 89 (5/31/2016)

Using Becker Live Classes plus Ninja Audio

[Anonymous]

100% for SIM? You're a genius.
I scored only 43% on my SIM (Final Exam 2)
SMH!

[shmogma]

since we're on topic of reg, I noticed relating to S Corporations that some questions dismiss applying short term capital loss as part of the calculation for an individuals tax basis.

Any clue what the actual absolute rule is on this?

FAR - 80
REG - PENDING
AUD- PENDING
BUS - PENDING

[Anonymous]

https://www.aicpa.org/becomeacpa/cpaexam/examinationcontent/contentandskills/downloadabledocuments/csos-ssos-effective-jan-2015.pdf

@shmogma
the business law section section is 17-21% of the exam as per pg.21 of the Content Spec. Outline document. per AICPA. please, kind sir, do NOT devote 4/8th (50%?) studying to that topic. please focus on tax.

conversely, @denivathat you were right (thx for your cliffnotes btw!)

ethics and professional responsibility is 20% of the exam just as much as biz law, but it only gets devoted a meager R5 (one chapter!) in Becker vs 3 chapters for biz law. this leads me to conclude people, not all becker chapters are created equal! biz law is voluminous by nature- do not focus anything but 20% of your time on in, probably;y even less (it is unlikely to show up in Sims I assume)

[shmogma]

@eesti

i do believe the that 20% may not be worth the study time, but i also went against the suggestions of many that stated not too worry about the gov and not for profit sections for FAR. wow were there sooooo many questions from that area. Ive been traumatized into overstudying(although prob not a good idea) for the minority portions bc of that

FAR - 80
REG - PENDING
AUD- PENDING
BUS - PENDING

[Author]

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