passed REG with an 81
couldn't be happier
REG 5/30/12 81 expired :/ Retake April or May 2014
AUD 5/24/13 85 i like it.. aha aha. thats the way
BEC 10/07/13 80 ya boii
passed REG with an 81
couldn't be happier
Just got back from REG, pretty sure I failed it. The sims were confusing and I hadn't done anything similar to them in Becker before. The multiple-choice were ok, but there were a decent number I wasn't sure on.
@nfs480, I took REG earlier today and had a similar experience and sentiment. MC's were challenging but do-able. SIM's really killed my confidence. I've got my fingers crossed for a 75...it's so hard to have any sense of scoring based on exam experience (at least for me). August 6 can't come soon enough!
Were the MCQ's similar to Beckers MCQs difficulty level or would you say harder?
OK, so I've never posted in this forum before, but I really need some advice. I took REG this morning, and am really wondering whether I should prepare to re-take this exam or not. I just wanted to get opinions on whether there's any hope for me. This is my exam breakdown:
Testlet 1- not bad at all, marked 2 questions
Testlet 2- definitely harder than testlet 1, marked about 3-4
Testlet 3- hard again. this time i marked about 7
1- had ABSOLUTELY no idea what I was doing or what it was really even asking me. predicting a 0-15%
2- not bad. probably an 85%
3- not horrible, about an 80%
4- 100%, this was the research question
5- not really sure. maybe got 50-60%
6- again really not sure, maybe 50%
For the first SIM it literally came out of NOWHERE. and the last 2 were barely covered and I definitely wouldn't have done any better had a studied another month. I passed AUD (92), BEC(81), and FAR(78) all on my first try, but this is really getting me worried!
@VACPAhopeful, I think you did just fine! I wouldn't worry too much, usually if you feel good about the MCQ's, I think you'll pass for sure.
For those of you who took REG today, I feel the opposite of you. I think I did pretty well on the SIMS, but some of MCQ's were out of left field. I had to guess on like 6 of them because I hadn't even seen the material before! I am totally freaking out. This is my last exam, so I'm going to try my best and pretend like I passed today so I can enjoy the next month in case I fail and have to start studying again. I might have guessed half of them right, so that would help. But seriously, who knows. Praying for an earlier score release?! Ha ya right. Good luck everybody!
Took REG this afternoon - my 1st ever CPA exam. Felt like I was hit by a train after submitting the test. The MC was not bad but there were a few questions that I have never seen on Becker practice tests/exams. Sims were much harder than I expected and I am sure that I messed up at least one of them completely. Praying for 75%!!!
I'm with ya @taxthreat. Maybe we got the same exam? I still couldnt find the answers to some of those questions in my Becker materials. That's never happened before :(
I took REG today and I agree. Some topics I don't ever remember seeing in the study materials. Does anyone actually believe in the "curve" that is rumored to exist?
Actually the curve goes down on the MCQ because the more people have gotten that question right is the less it counts. If you miss the hard questions you are costing yourself alot of points.
Reg was hell! They got progressively harder, and I had to look some up on the internet when I got home. It was a lot harder since the last quarter. SIms wasn't bad but I had four that took up a bunch of time. I basically ran out of time on the last sim. Hopefully that was the test question.
Well. That was not what I was expecting. The MCQs were fairly easy/normal the first set, super hard/bizarre the second set, medium the third. Overall harder than I expected. The SIMs.... I got the research one very quickly, pretty sure I got all or almost everything right on two other sims. However. The remaining three SIMs... two were on basically the same topic, in one of my weaker areas, but not totally out of left field. The last sim was something that becker specifically said would almost certainly not be tested on. I'm hoping it's the one that gets booted, since I pretty much had to guess on all of it. I worked through the MCQs fairly quickly, so I had a ton of time to use the authoritative lit. That definitely helped a lot.
I don't really know if anything I have to say is at all helpful, but I strongly urge everyone to leave enough time to use the authoritative lit.
We'll see how it turns out.
At any rate, I have a 5 day break before my becker BEC class starts, so I am going to rest my brain and drink some gin and tonics. Mmmmm...
Hi Everyone! Thanks for posting your experiences with Reg. I just took it this morning and never felt as bad as I did leaving the exam center. I just felt like I wasted one month of my life studying for this joke.
My fist testlet was medium. I finished it feeling ok and when I saw my second testlet, I knew I did well in the first one because telstlet 2 was incredibly hard with questions that I did not come accross from both Becker and Wiley. 90% of the questions were long and required calculation. I flagged so many questions that I dare not say the number. In summary, I probably guessed more than 50% and this it how hard it was for me!
Testlet 3 came to confirm that I screwed up royally in testlet 2. In fact, it was much much easier with 90% of the question being short and requiring very little calculation and many law questions. I did well in that one too, probably anyone else would have done well too.
My nightmare begun once I got to the sims. They gave me 2 research questions!!!! Why in the world did they do that??? It's surprisingly my weakess part and I did not found any of them.
In the 4 remaining sims, I completly guessed 2 of the and the other 2 I can hope to get some credits for some answers ): . I have no reason to hope and I'm 100% sure I failed it. Yet, I don't want to be studying for a retake without knowing the results although I'm convince I failed. Maybe I'm secretly hoping for a miracle (I need to wake up because that won't happen). Last year I prepared Reg for 2 weeks and scored 68. So I probably assumed that in one month of studying I can pass it. Wrong!!!!
Here is my exam performance on my perspective. Please take a look at it and tell me if I should hope or if you ever felt the same after an exam:
T#1 (Medium) = 85 - 90%
T#2 (Hard) = 40 - 60%
T#3 (Easy) = 85 - 90%
Sim1 = 0% (research)
Sim2 = 0% (research)
Sim3 = 75 - 80%
Sim4 = 50 - 70%
Sim5 = 0 - 50% (guessed 100%)
Sim6 = 0 - 50% (guessed 100%)
I'm so frustrated right now ) : . Any comment will help.
@khum2011 I am just hoping that the ones that I guessed on will get thrown out! I had more bus law than tax MCQs which was a bummer since I got my masters in tax and felt well-prepared going into the exam. Cant believe we all have to wait for over a month to get our scores! I dont have that much patience
@taxthreat, I hope so too! I looked it up today and 12 MCQ's get thrown out and so does one sim. I'm sure you passed! Don't let it get it you, as I can see you're studying for BEC already. You usually do better than you think you did. But from what I'm reading on this thread, everybody feels like they failed and pretty much all of them passed. I'm definitely not as worried now after reading all those posts. Good luck with BEC :)
I took my REG exam on 7/2. Two questions into testlet two and Zap! – The power goes out (the area was affected by storms the day before). After about three hours, everyone was given a ticket number and told Prometric would contact them. I did not wait for the call. I immediately called to reschedule because fly out for ten days on 7/4. Luckily, I got into another testing center on 7/3. My test was similar to most here, but what gets me is testlet 1 from 7/2 felt easy. Testlet 1 from 7/3 felt considerably more difficult. I don’t know what to make of it, but it just goes to show how unpredictable these exams are.
I would be so stressed out if that happened to me!!! Good thing you were able to reschedule right away! Good luck to all of us!
Took reg this morning I am pretty sure I passed, my first testlet was easy prob got them all correct, second was hard, and then I was hoping for another hard one and I got it, a lot of calculations and niche rules.
So I would say I got an 85 on MC questions.
I went over the sims with 1.5 hours left, I got 2 research which I know for sure I got right. Missed on Simulation completely which i dont think I had ever saw in Becker, but I did see in Yaeger after the test, another I would say I got 50% right and two I got totally correct. I would say my score is an 80, but you never know, if one or 2 of the sims were pre test could have easily gotten a 73.
You lucky people who got two research sims. I got one, then the other five sims were on a topic that I was somewhat weak on. I was strong on most taxation issues, but this one area I was always weak in my practice no matter how much I studied.
Funny enough, the one tax area where I was strongest, I got not a single question on. Not even a MCQ. Lots of other calculations that I think I got right, but nothing on this one specific topic. Oh well. I'm pretty sure I failed, but I think I failed with a higher percentage than I failed the other two sections I attempted, so...that's something, I guess!
Could anyone tell me what are the most important topics to review for simulations..... I am pretty ok on MCQ's but little worried about Simulations... any suggestions would help on how to study for simulations
I need some help from the people that have passed any or all of the sections. I am attempting my last section this Sunday but so far I have not passed any of the sections. I need some advice on what I am doing wrong...I am studying with Becker and honestly, at this point, I am ready to throw in the towel b/c I don't know what else do....I read the chapters and listen to the lectures and homework. Any advice or suggestions are GREATLY appreciated.
Please don't give up. I know you are frustrated. You have to remain focused and determined and surely, you will pass. As you can see from my signature, I only have REG left and I took the first section in February. I did not pass those 3 sections because I am smart, I passed those sections because I am really determined and also believe in God. If I can pass, you can also pass! I have been using Becker 2011 edition because I cannot afford the 2012 edition. What I usually do is to cover each chapter, solve all the questions on each section of each chapter. I attempt every question as if I am in real time exam environment. If I score less than 80% on a topic, that is a RED light (even if I score 79%). I go back to that topic, read it over and attempt the quiz for that question again. I only move on when I am above 80% on a topic. After finishing the entire chapters.(all the chapters for a section of the exam). I start all over again for the second time. This time, I set a higher standard for myself and the standard is to score above 90% on each topic. Any score below 90% is considered a failure. I do that for all the chapters. At this point, my confidence level is always very high. I also do the third and the final revision. At this point, I use the quiz and I usually do a maximum of 30 questions for topics that have more than 60 MCQ. For other topics, I do half of the MCQ. Note that at each stage, I make sure i master all the SIMS. I try to get more SIMS from other authors. The higher the number of SIMS you attempt, the better. For FAR, I only used the SIMS provided by Becker study review and the final review. For AUD, I added the SIMS from "cpareviewforfree.com" to the ones provided by Becker. I bought those SIMS for $10. However, you may already know that becker did not do a good job for BEC. So, combined the Becker with Wiley and I spent between 5 to 6 weeks to prepare for BEC. For REG that is left, I am using the Becker but I also bought the SIMS from the source mentioned above for $10. Above all, I study every day for 5 hours on average. I do hope these hints will help you. You really need to continue pushing yourself and you will make it. Good luck.
Tiredmom, if you post to the general forum, you will get a lot more responses. This is the reg exam experience one so I'm not sure that a lot of people will check here....
I failed the exam 2 times before I got really serious and started taking it last year. It's a lot of hard work, but if you stay focused, and learn from your failing scores, you will pass. What are your study habits? How much time are you putting in?
Thank you guys for the information. I guess I need to get way more focused!!
I study as much as I can but honestly (no excuses) I don't have much time in the day between work, child, drop off / pick up, etc. I guess I need to find more time and get more focused :)
Thank you for your feedback. This is my first go around so I guess I will learn from this.
Tiredmom, please feel free to email me at firstname.lastname@example.org. I can give you some tips to help you pass this exam without killing yourself. I am also a mom (2 young kids) and I work so I maybe I can offer some suggestions. Please put tiredmom in the subject so I don't delete the message. :-)
Best of luck to you tomorrow!
Tired Mom, I would focus on one exam at a time take it once fail take it again study the day after you take the test, its difficult because there is so much info to cover. The test is hard there is no doubt it took me 3 times to pass FAR, just keep testing you will pass.
One big thing i noticed is that tests range in difficulty, if you keep taking it yo will get an easier one evenually.
I just wanted to drop few encouraging words to inspire perseverance:
- Always keep your eyes on the final prize - CPA
- Transform your failures into success by learning from them and improving continuously.
- Remember that CPA exam is like a race and some of us will reach the finish line faster, some slower but at the end of the day it's reaching that line that matters the most.
- Do not be too envious and compare yourself to the people passing the exam with flying colors otherwise you'll lose your self-esteem and confidence. Keep in mind that each person has his/her own day and time to shine and be patient.
- Avoid finding excuse and blaming lack of time for your failures. Just stand up, scream very loud and say that you'll create or even invent time if you must.
Always remember that with CPA it's : "Fool me once, shame on CPA - fool me twice, shame on CPA - fool me for the third, fourth, fifth to the twentieth time, shame on CPA - I give up or I quit, shame on me"
Guys do never give up.
I took REG two days ago and I felt horrible when I left. The first testlet was OK, the 2nd harder and the 3rd I guess about the same or in between. But when I got to the sims I felt blind-sided! I looked at the first one and couldn't believe I somehow missed this topic or only skimmed it. So I decided to take a quick look at the others and got really upset and started doubting my ability to get the CPA - How could I ever go back and study more and remember all the possible things they could throw at me? How could I pass all the exams in 18 months? If I have to retake FAR I'll go nuts! I just wanted to give up and leave! So I had to calm down and start with the first Sim which I basically had to guess at, same with the 2nd which was a similar topic as the 1st. The 3rd I got partially. The 4th and 5th I have a chance at getting them all correct, and the research one seemed easy but who knows?
I had an hour and half to do the Sims. After I made my first attempt at each, I started to try to look up the rules for the answers but I saved myself on only one small part of one of them. I couldn't find any info with that amount of detail. ARGH!
I studied my butt off and my brain was crammed full! All my notes, notecards, mnemonics, memorizing, Wiley MCQs, Sims, tax forms, etc. and they threw stuff at me that I would never have thought was that important! It's not a fair assessment of my knowledge!
OK, I'm done whining. I don't feel so bad after hearing a lot of the same comments. I just pray the worst ones were the pre-tests. And another hopeful note is that I was sure I failed FAR, and I was totally shocked when I saw that I had passed - so that's keeping me from being too bummed for the next month until I find out.
@gailxadri My experience was almost exactly the same as yours. M/C seemed ok with me, no real surprises other than a few questions on totally random and unimportant topics (at least I believed to be unimportant. The sims I had the same issues. I had one hour and forty minutes to do the sims and I left the test with only five minutes on the clock. It seems like everyone is in the same boat which is a little comforting, but not so much.
I usually feel the same way whenever I am taking a section of the exam. But I end up passing every section I have taken so far. My point is, focus your attention on your last section (BEC) and keep your finger crossed on the REG (since it is out of your hand now). There is every possibility that you have passed REG. Just move on.
I just took the exam yesterday and here are my REG takeaways:
The MCQs were by far the easier for me than the previous two exams I have taken (AUD, BEC) and I only flagged 2-3 max in the last section. Like another poster mentioned, the simulations were a complete blindside! I recognized all of the materials but it was all things that I felt were weak areas for me. I got two research questions and while I feel like one of them will be thrown out my last simulation was on a topic that Becker EXPLICITLY put in their notes that the CPA does not test on this particular topic anymore. That makes me believe that they will throw out that question but to count two research questions? Highly unlikely in my opinion.
Either way I am hoping that my work on the MCQs will be enough to give me a passing mark. August can't come soon enough! I got REG and BEC scores to dwell upon.
I think we got the same SIM, because mine was something that Becker also said they didn't test on, but went over for like five seconds "just in case." I literally did a double take when I saw it as a topic.
On the other hand, I had another SIM that was so in depth on a particular topic that I couldn't find anything about it in the Auth Lit that would have helped me solve it better than my best guess. (It wasn't in becker either to that level of detail)... that made me think that SIM was pre-test, rather than the one Becker said wouldn't be tested. Who knows! Ugh.
Do you have 2011 becker material? Shall i read ancillary materials in becker notes? I have 2011 Becker material. I am wondering if I should give equal weight and time to every topic? I got exactly 3 weeks left for my exam . Any suggestion would be really helpful.
Also what is the good approach to prepare for Sims ?
Good Luck to all
I take REG Saturday. Becker says that Circular 230 and ethics are ancillary. But Should I do a crash course in studying this with pounding the MC questions or should I focus on refining what I know.
My friend also gave me the Wiley Test Bank for Reg. I have to say that the questions for the law sections are vastly harder than Becker. Should I be worried
@joe35y - When I took REG a week and a half ago, the MC on ethics for me where fine. I did read the Becker 40-50 pages on ethics, but found myself very bored and losing concentration. Just focus on the main points.
@Nam - Nothing is ancillary. Read EVERYTHING.
gailxadri - Don't worry. I'm sure you did much better then I did. I studied for 7 weeks everyday all day. I memorized the MCQ's in Becker & Wiley even, and all the mnemonics, notes everything.. I did the MCQ's in maybe 45 minutes... ALL THREE TESTL like ETS. Im pretty sure I failed since I did not get progressively harder questions with multiple step calculations/lines some people have said they received. I only had simple easy worded/easy calc questions. The SIMS? HAHAHA.. Wow.. I had 2 hours for the SIMS. I finished them all in about 1 hour. Research - Easy, One other sim - Easy, 3 other sims? Pure guesses. I used the lit tab, but they where so detailed I found nothing.
@sarah210 - Dont feel too bad. I got the research question, and 90% of another SIM. The 3 others pure 100% guesses.
I was thinking about it. Becker says that the Law Section constitutes about 18-20% of the Exam and the Ethics constitutes another 10-19%. Now the Sims are focused on tax. So that would mean that the Ethics + Law Section would weight to almost half the MC questions.....
I took Reg on 7/3/12 and it was just brutal. I think the sim was done on purpose to discourage candidates. I don't think anyone can come out of Reg feeling good or confident. I almost screamed when I stepped out of the testing center. Testlet 1 was fine, Testlet 2 was very hard and Testlet 3 became medium again. That simply means that I will be graded based on Medium - Hard - Medium. Sim was a killer. I got 2 reseach questions and one of them was out of this world (most likely will not be graded). 4 remaining sims were all different from what I saw before. I'm hoping for partial credit here and there but I don't think it will be enough to get me through.
One thing that I'm certain about is that they will curve this exam. So many people complained about how hard the sim was.
Enough lamenting, I take full responsibility for what I did. Here I come BEC, you better start running but I'm still going to catch you!
Good luck to those who are getting ready to take Reg.
I took REG on 7/5/12 and at this point I don't know what to think. First testlet wasn't bad. Second testlet was extremely difficult; by far the toughest testlet I have ever taken. Third one was easier than the second (looks like I totally screwed up on testlet #2). SIMS were OK this time around but as I have come to realize with this exam, you really never know. I have never been so frustrated with an exam before. I truly hope I am done with this come August because I don't know what else I will need to do to beat this exam.
are the SIMS mostly on tax or does it include BLAW stuff?
From my exam experience I think I have about a 50-50 shot of passing.
The test-lets got harder with information that I have never seen before in my Becker course.
I left about an hour and 30 minutes for my simulations ( finished with 3 minutes left.)
The sims were on things that you wouldn't be able to prepare for even if you tried. I think the sims are starting to make you utilize the research tab more because the information was never presented or touched upon in Becker at all! My best advice is give yourself enough time to make good use of the research tab. Without it those Sims would have rocked me.
Well for this testing window we find out august third. So at least I have a good amount of time to study if I need to take it again.
Does anyone know how to look up the tax form in the Authoritative Lit? I am having trouble remembering what schedule to use (Sch A, C , K etc.) If I get a sim asking that information do you know How I can find a tax form in the Auth. Lit? I have tried looking for it but cant find it.
I took mine yesterday. Have the same feeling as almost everyone mentioned above. Massive tough questions in 3rd block mostly consisted of "theoretical" (non-math) part. I don't feel any good about that section at all. Had an hour and 15 minutes for simulations. Thanks Wiley online test bank I believe I've got 2 of those somewhat close... but(!) three sims caught me off-guard.
Now have to wait more than 2 weeks!!!
Well.. thankfully have things to do - need to prepare for AUD and BEC. Do you think it is possible to prepare for these two tests at the same time and sit for both just in two days (back-to-back)?
Btw, I've tried to look up some things from Auth.Lit tab - I'd recommend you not to rely on it.
@LetsGoCPAs I haven't taken REG. But I'm sure you don't have to know which form to fill, you just have to know how to... If question related to self-employed person, it will give you Sch C to fill out.
I've always lurked around on here but never posted.....
I take REG in a few hours. This seems to be the place a lot of people come to read at. Just wanted to throw my 2 cents pre test in here. If you are using Yaeger, he does taxes first then business law. I've come to realize after reviewing the last few days that this is backwards, especially considering it's 70/30 taxes. I do not feel like I retained enough going in to today. Needless to say, I'm not going into this test overly confident (not that I ever have been). I'm sure I'll post a follow up tomorrow at some point, I may go on a bender tonight afterwards. I've got until the end of February, and my BEC expires (I do not want to retake that). I'll have FAR in early October depending on how this one goes. If I pass, I'll schedule it later. I am not sure the best way to tackle REG, but I do think doing taxes last is a good start.
I made my 2nd attempt at REG today. I have to say, I feel no better about it this time than I did the last. The MCQ were ok going from Medium - Difficult - Medium. The SIMS were very hard for me. I had 2 research questions and had extreme difficulty with one of those. The other 4 SIMS I probably guessed on 50% or more. I tried to used the authoritative lit to research some of the SIMS but found that difficult to do. On my first attempt, I was able to use the auth. lit a great deal and felt more comfortable with those than I did with today's SIMS. SIMS were my downfall last time...maybe this time too. Come on August 3rd!
Took REG today........ hmmmm I wish I could say that I felt confident. I really don't think I did well, I'm hoping that its one of those cases where the exam is hard and the person thinks they fail but comes out with a passing grade. :-/ I'm really praying on that 75. August 3rd cant come soon enough.
My SIMS were terrible, and I couldn't find ANYTHING in the Auth Lit tab....whats with that?!
During liquidation in partnership , Cash> adjusted basis of partnership = is it capital gain or ordinary gain ??
Retirement and sales are considered as capital gain/loss.
I think that would be a capital gain, though not 100% sure.
I took the exam recently. The multiple choice didn't go as smoothly as I would have liked. The testlets seemed to go medium-medium-medium, though the 2nd one could have been hard since it was a bit more detailed. Some of the questions that should have been easy were hard to solve. There seemed to be a lot of questions where I was picking two answers. I had a lot of time left for sims. Research question was pretty straightforward it seemed. I wasn't 100% confident on any of the other sims. Some of them were looking for much more detail than Becker covered. I used the research tab, but it didn't help much. Overall, it wasn't terrible but it was pretty terrible. The other 2 exams I walked out 99.7% sure I passed. The score release can't come soon enough.
After reading this thread, I got scared. I was planning to take REG beginning of July but haven't scheduled yet. I was doing 100 MCQs of Becker progress test everyday but I'm still getting 80s. I haven't spent time much on simulations. I felt form ones in R3/R4 are difficult.
Many said simulations were harder than Becker. If so, maybe I shouldn't redo simulation but focus on reading thru the textbook before exam? I want to take the exam at least by 7/20.
I took what will hopefully be my last exam yesterday. I have left all three exams feeling uncertain, but I've scored in the 90's on all three exams, so I was confident heading into REG yesterday.
I counted 5 multiple choice questions that I felt Becker had not prepared me for in terms of the subject matter. However, I flagged around 25 additional questions (out of 72!) where I was unsure of the answer between two or three options. The multiple choice sections seemed to go Med - Med - Med/Hard. The questions were not complex or lengthy (I had only a handful of questions that involved two-step calculations), but they were definitely tricky. I was frustrated by the number of one sentence questions (which are generally the easy ones) that I could not answer confidently. Almost all of the material here was covered in Becker, but just not prominentely enough for me to recall the specifics on test day :/. Lots of the information I reviewed and crammed for in the last 48 hours really went unused.
After a rough time on the MCQ, I was prepared for the worst in the SIMS area based on comments I've read on this thread. However, I felt the SIMS were fairly basic. I had one research question, and the four of the other five sims seemed reasonable. Only one of them involved complex calculations, and it was a calculation that was well covered in Becker. I'm really hoping that my lucky draw in the SIMS will help compensate for what I may have missed in the MCQ sections.
@out a state: You sound like you would pass!!
I'm so nervous about my sims that I dont feel confident at all. I did fine on MCQ but the sims were just a major throw off for me that i'm so desperate now :(. I hope they wont throw away one of my research questions. ARGHH
Took REG today, first time taking it. I thought it was very tough, but that is what I expected. I flagged around 20 to 25 questions and the testlets were medium to hard to hard I thought. I felt like there were so many questions that required a detailed answer and that threw me off a bit. The Sims were tough, but I feel like I did OK on them. I really hope I pass because this would be my first pass out of four exam so far and it would motivate me even more to pass BEC in a few weeks, which I got a 74 on last try.
Just got done with the REG exam. Pretty sure I failed. The majority of the questions didn't pertain to anything i had studied using Becker and te Ninja Notes. The simulations weren't too bad but the MCQs killed me. They didn't seem to get more wordy or lenghty in each testlet. They all stayed about the same in that aspect. I guess I will find out in 2.5 weeks. I hope i pulled it off but won't be at all surprised if I completely bombed it. Oh well. On to the next section FAR.
@Nam, during a partnership liquidation the gain is treated as a capital gain unless there are "hot assets" like accounts receivable. In that case you would treat the gain as ordinary income (up to the amount of hot assets times the partners ratio) and any excess would be a capital gain.
Made a profile on here to vent and help me deal with the stress of waiting.
REG is my last section and failed it once before as per my sig. The first time I took it, I felt horrible after the exam because I knew that I had completely tanked the simulations even though MC did not seem too bad. I ended up getting comparable on MC and weaker on sims for a score of 68, pretty much as expected.
Since then I reread the book (I'm using Gleim self study) espessially the tax portion, several times and did like 15 online simulations. Felt like I was much better prepared even though I did not know all of the nitty gritty details. Walking out of the exam I thought that I was in the clear score-wise, but after I got home I checked the book and realized I missed a few important rules in the simulations. It's not the end of the world, but makes me feel like I am now in the danger zone of not passing, if for example the curve is harsh and some other factors don't go my way. And now this wait is killing me... why do they have to take so long with a computer administered test?
Also, I did not think to look up the pertinent rules in the authoritative literature, except for one of them. Not sure why I did not think to do it for the others. How helpful is the authoritative literature during simulation for you guys?
I really trried to use the tab but not much help so lots of them I had to end up guessing :(. How bad were your sims when you first took it? You couldn't answer anything at all? I'm just wondering coz I didn't do too well on my sims either :(!
Here is the breakdown of my performances from the two times I took REG:
Both time on MC I doubted around 24 out of 72 questions and both times i felt that I had medium-hard-hard.
First time - 68:
1: 0-20% Was not sure about what method to use, ended up using the wrong one.
2: 0% used the wrong AGI cutoff on every question.
3. 40-90% did not seem too bad, but then again I could have been wrong about it since I was not too familiar with that topic.
4: ?? Don't remember exactly, but I do remember that I did not feel super confidant about any of it.
5: ?? Don't remember exactly, but I do remember that I did not feel super confidant about any of it.
6. 0/100? Research- did not feel confidant at all about this one, in fact it more likely that I missed it.
1: 33% Did not know what the rule was and did not think to look it up. Ended up using the wrong one, but still got a few cells correct.
2. 100% knew the topic really well.
3. 70% missed a rule but still got the majority of it correct.
4. 66-100% similar SIM to what I got the first time I took but now I knew the rule so probably got most of it correct.
5: 100% Research
6. 100% Research
Thinking that one of the researchs was experimental.
I hope that I did enough to get the extra 7 points to pass but there are too many other variables for me to be sure.
In any case, I think REG was by far the hardest section. I studied for it almost as much as I studied for the other three combined and still not sure if I passed.
I envy all of you for your time management skills. It's one thing that bothers me and that you guys don't have to worry about. I'm always impressed when someone claims to have finished all 3 testlets in an hour and half or sometimes just and hour. You wouldn't believe but I only had 54 minutes for the Reg sims. In addition to the test not being easy, time management was another problem I had to deal with. Even for Audit that I passed first try, I only had 58 minutes for sims. With such little time, I always have to speed up my answers and I know that not reading the questions carefully can lead to wrong answers.
I wasted most of my time on testlet 2, trying to do well in questions that might be experimental. Next time I'll convince myself that all I need is 75. Well, I shouldn't really complain because back in college I was 99% of the time the last person to hand in his midterms or final papers (but most of the time I had the best grades). I guess I'm like an old car that takes a long time to start but once it starts, it attempts to race againts the new cars : )
I'll be shocked if I pass Reg, but if I do, I'll never try to guess the outcome of an exam based on the way I felt after taking it. As it stands right now, I'm convinced I failed. But keep cheking for an update after Aug 6.
I think for all of my sections I had around an hour left for SIMS (except BEC where I only left myself 30 minutes for all three essays).
I did not finish one SIM in FAR. AUD I barely finished. The first time I took REG I ran out of time because I spent like 40 minutes on the first tab which I ended up getting wrong anyway. And the last time I took REG I had 30 minutes left because I had two Research tabs and they did not take long.
In any case I think 1 hour for SIMs actually puts you in a pretty good shape as long as you don't start dwelling on answers (which I know is hard). Although I'm a pretty slow test taker as well so take that with a grain of salt haha.
I took Reg a couple of weeks back for the second time. I thought that exam went ok this time around but I am concerned because my last testlet seemed very very easy. Has anyone ever heard of someone passing with this happening? I am worried because I have yet to pass a section of this exam yet and Im beginning to get discouraged.
Are you sure you didn't just know all the material and it seemed easy? I think you can still pass with medium-hard-medium as long as you do really well on the last medium.
It just seemed much easier compared to what I experienced in my second testlet. I hope that I can still pass under that system because I think I did do really well on the final testlet, but you never know with these exams. Im just praying for a 75.
How much time do you guys recommend that one should spend on simulations ?Is it a wise idea to look into authoritative literature or it would be a waste of time?. Because last time I missed one whole simulation due to time management . I don't know whether that simulation was pretest one. I literary spent 3 minutes on that simulation.
I wish you guys all the best for your result.
I would spend 1:00-1:15 on SIMs and def. recommend looking through the Autho lit, especially for the topics you aren't aware of.
Thanks for sharing your experience of time management during your exams. It's good to know that I'm not the only slow test taker : ) . Based on your experience, it's safe to conclude that it's definitely possible to pass the exam even if you did not finish the sims, as long as you did well or OK with the MCQs.
If you can do so without neglecting any of the 3 testlets, give yourself at least 1:15 to 1:30 minutes for the sims. It's where you'll need the time the most. From my experience taking the exam twice, the sims always contained tabs where you have to calculate and fill in numbers. It's more complicated and time consuming than the "double-click and choose the best option" type, which I rarely had in my exams. If you have enough time, use the authoritative literature to figure out how to deal with a certain concept that you forgot. Obviously, if you are comfortable with how to solve/answer all sims, you don't need to waste your time searching for things you already know. For instance (not from actual exam, just from becker material), if you forgot the rule about the treatment of capital loss for individual ($3000 max to offset ordinary income) or the $100 that can be deducted for casualty loss, using Auth Lit can be your best option to find it. I never had enough time to use it otherwise I would have. When you find a tab that you're not feeling good about, skip it and do the others and then come back to try it using Auth Lit. Don't forget to let us know how your exam was. Good luck!
I just took REG last Friday and I have no idea how I did. The first testlet seemed pretty easy. But then the 2nd one felt like it came from out of left field as far as the material it covered and the depth of knowledge it was testing. Ditto on the 3rd testlet. By the time I got to the SIMs I only had an hour left. Clearly not enough time. I raced through and tried to answer everything I could, but the time crunch surely hurt my performance there. I think I did pretty well on the MCQs and I'm hoping they will help buoy my SIM score.
I took REG. MCQs were really difficult from testlet #1. I didn't see it was getting harder or easier. I hope all testlets were medium.
And the simulations. Researches were easy as I could finish within a minute. Two were from popular topics. Other two were like from other section. I think one of them was pretest.
When I took FAR, MCQs were really easy. All testlets were easy. I was worried cuz it didn't get harder but I got stronger fro all. But simulations of FAR were super hard ones I'd never seen. I was expecting like that for REG. difficult MCQs were not good for me. I think it's unfair.
i took reg today as well. My test was very similar to what you described. The first MCQ testlet was fairly difficult mark 5-7 question. 2nd testlet was much easier only mark 3-5. 3rd testlet got insanely harder probably end up marking 10-12 question.
Sims were not that bad. They felt very basic some had a few twist to it but overall not too difficult.
Took REG earlier.
Feel really bad about my MCQ performance, and okay about my SIMS. Hopefully it'll be enought to push me over the top, but I doubt it.
Took REG on 7/20 and I'm not sure how to think yet.
The first testlet was medium difficulty (obviously) and while the questions seemed to get longer, I never felt like they more difficult. This could mean I was doing awful the whole way through or that I understood the material too well (doubtful!). I was prepared for the worst with SIMS because of horror stories on this thread but I honestly felt like MCQs were more difficult. I nailed the research question and at least one other SIM. I am fairly confident that I got a majority of the remaining SIMs and was able to use the lit for quite a bit of my questions.
My advice for those taking it soon, give yourself 1:15-1:30 to finish the SIMs. You will need it!
Crossing my fingers and waiting for 8/3 to roll around.
why is everybody so quiet here?!?1 :-s
cuz everyone hates TAX.. :'(
It’s because this exam is very depressing. I have yet to read a post of a candidate who claims to have done extremely well with REG and have no doubt of passing it.
In my opinion, REG is the worst of all 4 exams. I bombed it once again. Now I'm hoping for a curve and a miracle to pass. How silly is that?
Now do you understand why it's very quiet in this thread? It's just not a fun one.
So, took REG yesterday & it wasn't very fun.
I think from reading on here, there are 2 versions of exam - 1 with harder mcqs/easier SIMs and vice versa. I got the 2nd.
My complaint about the SIMs is that they were on very specific/obscure topics. I was well prepped - somewhere in the vicinity of 250 hours. I had gone over all the mcqs/sims in my Wiley book about 3x and done all the sims, diagnostic exams & some simulated cpa exams out of CPAExcel.
2 of the sims were on topics I had not encountered 1 question on before. Another was on a more common topic but asking for different types of info than Wiley/CPA Excel had.
I was able to use the research tabs for the non-research qs, but when you're trying to grasp a topic the IRC isn't the easiest way.
For those of you who don't know - the Advanced Search feature is fairly helpful. The Search button searches the entire codification whereas Search Within will do just that subsection/document. You can search for an exact phrase, words near each other, or a document containing all the words. Still definitely important to know something about the overall organization though.
I think I got the research qs, maybe <=50% on 2 of the sims, and <=25% on the other two. Hopefully pulled it through on mcqs.
Thanks for the tip wmalvino. How much time do you think I should give for the sims? I'm quite worried about the sims because they are so random.
Dualmatrix - if you get the test I got (easier mcqs across the board / harder SIMs) leave 1.25-1.5 hrs for the sims.
I really don't think you'll need more than 1/2 hr per testlet for that version. You'll know if it's that one by the time you hit 2nd testlet which is traditionally hardest (because it still won't be hard lol). I'm pretty sure it's not that I was bombing the mcqs & thus didn't get increasingly harder testlets. I did very well on the mcqs.
You'll want about 1.5 hrs for the sims because the research qs did still take some time to find. And you can pick up an extra point or few on the obscure sims by searching the codification. Good luck!
1testlet – was pretty simple and straightforward! ( no surprises)
2nd testlet – was wordier and lots of calculation ( but again no surprises) except one or two which were not covered in becker material .
3rd testlet – was again wordier and lengthy with calculation but no surprise elements in regards to material cover.
PS: I did flag 7-8 approx in 2nd and 3rd testlet .
SIMULATION : I was like What the “WHAT” ! I MEAN! I did horrible on those sims , It was tricky , few simulation were like 60% guess.
I am sure I would fail regulation because of simulations. Oh lord this wait is gona kill me .
Just got back from testing center. My experience:
1st testlet: straightforward
2nd testet: a little bit tougher and lengthier
3rd testlet: easier than 1st testlet
There were 2 topics (had a few questions on) that Becker didn't cover because I didn't recall seeing it in the materials. I'm hoping they are the pretest questions.
Sims: At first glance they seemed pretty brutal, but I keep my composure and chugged along. Nailed the research sim under 1 minute, 2 of the sims were on weak areas (the CPA gods would do that to me), and the other 3 of very doable (hoping I got at least 65% correct).
Overall, no big surprises. I had like 8 minutes to spare when I finished so I decided to let the time run out. I pray that I got enough points on the sims. Good luck to those who are going to take it soon!
I'll be praying for all of us!!!!! GOD HELP US!!!!!!!!!!!!!!!!! HELP US!!!!
Took REG yesterday morning and here is a quick rundown of my experience:
1st Testlet: Challenging, but not completely impossible
2nd Testlet: Better than the first, but only because i was stronger on the material
3rd Testlet: About the same as the 2nd
Simulations: Completely blindsided!
Left the exam almost in a rage, just because the material in half of my simulations was material that was never really touched on in the Becker materials. After dropping the ball on the exam back in February, I really focused on trying to be diligent in studying and covered all the MCQ's and simulations I could, but it still didn't feel like I did enough in the little nagging details in the BLAW area, because i still struggled through it. All I need is 9 more points to get through this exam. Begging for prayers that I won't have to put wife and two young children (3 y.o. and 5 month old) through any more of this!
@cpaski : wow! if you nailed those SIMS - you are in good shape !:D :D lol
@ Sgt_ Bilbo - Dont worry those sims were brutal and tricky! & You are almost there!
Cpa lord - Show Us Your Mercy & love .....
Just got out of exam... I'm 100% sure I failed. My test went medium, hard, easy. Believe me - the third section was definitely intended to be easy, only problem is I couldn't remember even basic things, so I'm reasonably certain I bombed that section in addition to obviously bombing the second.
The Sims... Same as everyone else - absolutely retarded. To say I guessed implies that I was even cognizant of what I was doing by the time I got to them. I was pretty much numb by the time I got to the Sims, having already resigned myself to the fact that I absolutely bombed this test.
Summary: Study tax. Don't bother looking at the other 4-lectures. I was too fed-up with Tax to really go back and review it, but my test was about 90% tax. I had maybe 1-2 questions in each section that didn't relate to tax. I absolutely hate Becker right now for having Tax first, as well as for having 4 additional lectures on things not Tax, as if it is at all relevant.
This exam should be called "TAX" not "REG." Absolute waste of time - my time and money would have been better spent had I literally not taken the exam today. I've spent the last hour trying to think of a word or phrase to describe just how much I loathe tax, and I can't think of anything. I thought I was losing motivation before the exam - now I'm starting to question whether or not I really want to be a CPA. I honestly don't think think its worth it.
I feel your pain, regulation is the new monster and people are having a tough time passing it. I passed it after 3 attempts....
Let me tell you, my last exam had 50%law, 20% Ethics and may be 10-20 %tax that also one liners theory questions. Very few tax questions which involved math, for eg DRD or M-1 recon etc.
Every test is different...One should study all of the CSO and than its upto your luck and what kind of test you get....
Guys, let's keep our heads up!!!
@Napkinthief- Don't worry , you are not alone! I am still in pain, where did I do wrong? I put so much time and effort in regulation and still my sims went horrible! there was only 10-15% exam on BL , that was easy points though!
I am preparing my self mentally to retake this exam. I know its frustrating and annoying! But don't GIVE UP!!
just to cheer u up , see this link http://www.youtube.com/watch?v=yxurvsjFDMg : this makes me laugh .....
Good luck to all of us. I believe in miracles . CPA lord show your MERCY!
It's a normal feeling. I was 99% convinced I had bombed FAR and BEC and passed both. Let's hope for the best :)
Took REG a few weekends ago, first exam ever, and like everyone else, it was difficult to gauge. Couldn't really tell if the multiple choice was getting more difficult as it went along, but i felt pretty good (75-80%). The, all my dreams were dashed as soon as I opened the sims. 2 out of the 7 sims completely came out of left field, and the remaining 5 I kind of just went with. Just really frustrated cause I honestly believed I knew enough to pass, I just happened to get so lucky with my exam. That's the way things work though, I'll know in a few days if I'll have to catch up with my old friend REG again.
@YoullNeverWalkAlone...you'll never walk alone..Go Liverpool!
Ha, are you a scouser? This transfer window and the preseason games have been the only real distraction I've allowed myself while studying.
Not really....I'm more of a citizen...I have not followed football in such a long time due to work and now the CPA exam, but hopefully that will end in 1.5 weeks....I'm missing the Olympics too...Suarez and Kuyt are great players though..
You haven't missed much, the past 3 seasons have been an absolute train wreck. Kuyt, unfortunately, left for Fenerbahce though but Suarez is still there and is in top form. I got a gut feeling Rodgers is going to be able to get Liverpool out of this slump and back to contending for trophies.
Wow, I studied alot using Becker and felt pretty prepared going into the exam.... However, the actual exam seemed to ask a lot of questions that Becker didn't cover, or if they did cover it only briefly. I was hoping for more computational questions, I found myself having to guess (incorrectly) on multiple theoritcal/situational type questions. Also, I got asked the same question like 3 times... and I didnt really feel it was a relevant question at all.
The sims... were awful. One was not covered by Becker at all and the others that were covered were very detailed and had situations I had never seen before. Also, one of the sims was very vague to the point to where I did not 100% know what they were asking (I had to make an assumption, if I made the wrong one the entire SIM would be wrong).
Overall I don't feel good about the exam and would be extremely surprised if I pass. I just don't believe it was designed as well as the other exams I have taken.
@YoullNeverWalkAlone & CPATerminator
Glad to see other Reds on this forum! I hope we sign Joe Allen and Dempsey before season starts!
Dempsey is too old and not a good fit for Liverpool in my opinion..I do not know why they let Kuyt go. They need to find someone like Luis Garcia....that was an epic player...too bad he got injured...
@ CPA Terminator & MIA2CPA
Joe Allen I wouldn't ming seeing come over, he has a history with Rodgers at Swansea and we could use some more creativity in the midfield. I'm still hoping Gaston Ramirez finds his way over, then maybe Suarez Coates and Ramirez could convince Cavani to become a red. I'll take Dempsey in a swap with Adam, other than that, I'm not sure he's the quality Liverpool needs.
Carroll didn't make the trip for the first of Europa. He just might become a hammer....
WOAH other Liverpool fans?!?! I finally got to see them live when they came to baltimore. Was withing 10 feet of stevie G and lucas and the rest of the boys.
On the topic of it, what would be your guys starting 11 with the current squad (not including carroll cause i am assuming we are gonna let him go for sure)
Johnson Skrtl Agger Enrique
Gerrard Lucas Shelvey
Suarez Borini Bellamy
@edfeldLFC..with that lineup Liverpool is guaranteed to failure once again...I don't know why they sold the team to someone who knows nothing about football...ManU is headed that way too...City and Chelsea have the best players imo..
Signing Dempsey can be beneficial to us for several reasons.
1) He is for the most part, an upgrade to Maxi and Kuyt. He has shown success both as a wide man and a forward, two positions we badly need improvement in. His goalscoring record speaks for itself.
2) He is somewhere between a good to great passer and should adapt to tiki-taka fairly smoothly.
3) Marketing. Let's face it. All the big teams do it. I'm not knocking on the likes of Chicharito and Kagawa because they are excellent footballers, but their ability to sell shirts in their home countries were definitely a consideration when they were signed. In order for LFC to rebrand itself as a top club, we really need to build our international fan base. The veteran fans will always be loyal, but prospective fans may need a familiar name to sway them. FSG made a great decision to send the squad over here for the Summer tour, signing Dempsey will only build upon that momentum. He may only have 2-3 seasons left in his current form, but Dempsey's name could cement a huge US fanbase for years to come.
4) It's about time American talent played for the right side of Merseyside.
I'd like to see us play something similar to this:
Johnson Skrtel Agger Enrique
Dempsey Suarez Ramirez
Borini, Shelvey, Henderson, Sterling, Bellamy, Suso, Kelly, Coates, Doni
I'm not a fan of Adam, J. Cole, and Aquaman. They need to go. A/C and Downing don't seem to fit and should go as well(though Downing can probably redeem himself).
Phew, what a long-winded post. It's back to studying REG for me. YNWA!
They may have sold the club to someone who "knows nothing about football" but that someone and his backing, FSG, are experts at running sports teams. Fortunately for us, they have made a good decision in signings Rodgers to manage the actual footballing. It's unrealistic to compare us to the likes of City or Chelsea because they have unlimited spending power and are, imo, one level above us.
In order for us to compete, Liverpool will have to build a team based on young emerging talents rather than established superstars. It will not be something that happens overnight but rather a process that may take 3-4 seasons before it really bears fruit.
The way I rank the top 8 clubs in EPL:
Tier 1: Manchester City, Manchester United, Chelsea
Tier 2: Arsenal, Tottenham, Liverpool
Tier 3: Newcastle, Everton/Fulham
I completely agree with Dempsey, he's been solid at Fulham and I think a part of the reason he's possibly coming over is cause of the owners, I'm sure they would love to have an American on the team for PR reasons. I like the way Dempsey plays, he's got an incredible work rate and he doesn't take a play off. I just don't think he's going to be what pushes Liverpool over the edge and back into the top 4. I was gutted when Kuyt left, he's been one of the few consistencies on the team for the past two seasons. I hate that Maxi left too, it seemed like every time he came into the game he scored, he was still a solid player, not sure why he left.
Defensively I think Liverpool is actually in really good shape. This past season was probably Reina's worst at Liverpool but I have no doubt that he'll bounce back; I still think he's a top 5 keeper in the world. Centerback wise Liverpool is stacked. Agger (hopefully he doesn't leave for City) and Skrtel are world class, and Coates and Wilson are still young and will get plenty of experience playing in Europa and the Carling and FA Cup. Plus Carragher, old reliable, is still in the squad which is always a positive. Enrqiue was probably the best transfer we had last summer and will probably flourish in Rodger's system, and the same can be said about Johnson. Flanagan, Kelly, and Robinson will probably make their way into the starting line up at some point in the season too.
The midfield is a completely different story though. Last season was an absolute mess. Lucas getting injured was probably the worst thing that could happen. I like Spearing, but I don't think he can handle the duties of a DM. Gerrard had injuries that plagued him all last season which really hurt the team as well. Downing probably had the worst season imaginable, but I think that it was just a matter of bad luck and not necessarily a lack of quality. I could see him redeeming himself this season. Adam was a defensive liability and his corner kicks and free kicks weren't nearly as impressive as they were at Blackpool. Henderson was played out of position the majority of the season, so I'll let his poor play slide for that reason alone. I like Shelvey a lot and I think he's a player for the future. Joe Cole is, eh, a bench player. I actually real like Aquliani, but his timing for the club was absolutely terrible. He's constantly between managers and never got a real shot to play. I'd love to see Rodgers give him a go, and if he isn't a fit, sell him during the January transfer window. I think Liverpool is just missing a Zidane, Modric, Kaka, Ozil type of player that has creativity and and distribute the ball. Gerrard usually plays that role, but if last season was any indication, a quality replacement needs to be found.
Attacking wise, the only real bright spot last season was Suarez. I love Suarez, his jersey is hanging in my closet right now. I think that if we managed to hold onto Torres they could have been an unstoppable partnership. Carroll and Suarez just can't play together; Carroll is too slow and doesn't have the same prowess that successful strikers need. I'd love to see Liverpool bring in a true finisher to play with Suarez, I think it could really pay dividends. Honestly I don't know too much about Borini so I can't judge him, hopefully he is as good as they make him out to be. I like Sterling a lot, but he's only 17. It's a make or break time for Pacheco, I could see him going either way.
I could see the staring line up being:
Johnson Skrtel Agger Enrique
Downining Suarez Borini/Bellamy
Bench: Sterling, Shelvey, Coates, Jones, Henderson, Suso, Pacheco, Aquilani, Spearing
Players Sold: Carroll and Adam
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