CapitalGains
offlineMember
Here's what the current Internal Revenue Code states, pulled from a CCH database:
"165(h)(1) $100 limitation per casualty.— Any loss of an individual described in subsection (c)(3) shall be allowed only to the extent that the amount of the loss to such individual arising from each casualty, or from each theft, exceeds $500 ($100 for taxable years beginning after December 31, 2009)."
Another source I have states the following:
"However, for 2009 only, this floor will temporarily increase to $500 (Code Sec. 165(h)(1), as amended by the Emergency Economic Stabilization Act of 2008 (P.L. 100-343); Reg. Sec. 1.165-7)."
So it's $500 for 2009 which is what will be tested on the current 2010 REG exams.
MPoni123
offlineMember
hey CVACPA...that happened to me with REG. i had an extremely difficult exam! i use Becker and think it is really good, but was blindsided by most of the questions. My SIMS were also a nightmare. I guess I can thank AICPA grading techniques, because somehow I passed with a 90.
I don't think memorizing the questions and answers is the problem, because you SHOULD know the answer after a few times. As long as you understand WHY the answer is what it is. Someone mentioned this before, but Becker gives really good descriptions of the answers so as long as you are choosing the answer and can actually explain to yourself why that one is the answer, I don't see the problem.
glogo2384
offlineMember
Anna,
I feel your 74 pain! I have to re-take REG 1/15. How did you feel about FAR compared to REG?
My weakest areas were always Tax and GAAP... Audit and Finance/Business my strongest, hence I passed those...
Puerto Rico Romo
offlineMember
I'm taking my exam on the 23rd and I've been studying real hard the last couple of days after taking the last week 2 weeks off the december to blow some steam. My results showed up in the mail and o and behold the 4 was due to simulation bombing and a rushed written comm. After reading on Facebook that I was the only bum from my graduating class who was taking the exam that hasn't passed it yet im doubly detrmined to get this done now and hopefully be at the state ceremony come march!
Is anyone else having trouble figuring out the commercial paper and/or secured transactions section of the Reg exam?
Honestly, I believe these two topics are the hardest of the law section to understand. Are they heavily tested on the law portion of actual exam?
Just wondering if I was the only one who thought this.
rsanchez
offlineMember
I am having a terrible time on the R-6 as well and haven't even gotten to R-7!! I am scheduled to take the exam Feb 1st since I wanted to get into the first wave of scoring, but now I am getting nervous and am wondering if I should put it off to the end of Feb??? I work for a publicly traded corp and it is YE right now and pretty busy!!! REG is my last part to pass and I just want to be done!!!
I went through the tax portions twice but that was before the holidays. Oh well. Would anyone recommend that I put the exam off til the end of Feb and guarantee passing? I am pretty nervous and having a tough time with the law section.
CapitalGains
offlineMember
The business law section was the most confusing to learn for me but it's not that bad on the real exam. All of these sections combine to total 20-25% of the aggregate score, which isn't much when you further break that down between the topics. I used Bisk and had chapters on Contracts, Sales, Negotiable Instruments & Documents of Title, Secured Transactions, Debtor & Creditor Relationships, Agency, Federal Securities Regulation, Other Regulations, and Property & Insurance. So that's about one-fifth or one-fourth of the exam split between ALL of that material. You don't need to know every little detail in each but have a general overview.
ILoveCPA
offlineMember
Does Anyone think its possible to pass REG first shot if study full time over a 4 week period. I am trying to reassess my study plan. I have already passed FAR-11/09. I take AUD on Jan 12...feel fairly confident but we'll see. I was planning on taking REG Feb 27 and BEC early April. But since I have lost my job I have free time and am wondering if it is realistic to squeeze REG and BEC over a 6 week span with more time spent on REG....Any feedback is greatly appreciated. Thanks
Anna
offlineMember
I don't know about REG, but I I studied 10 business days for each AUD and BEC after listening to FastPass course in June. (FastPass is a condensed Becker course that just runs live lectures for you everyday for a week).
I took BEC Aug 11 and AUD Aug 28.
I was studying approximately 4-5 hours a day with 8-10 hours for the last two days before exam itself; (those last two days I used Final Review).
My point is - if cramming is your style, and you're good at concentrating - it's possible.
(I wish i did the same for FARE and REG - but I prolonged and procrastinated instead.)
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