1. 

   Wendy
   

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   Hello Everyone!! Okay, so I took REG on Friday and OMG, not what I had expected for the simulations. I used Becker and found that for the MC questions I had studied a whole lot more information than I needed!! There were maybe 4-5 that I had never seen before. But both of the simulations to me felt horrible!! I just hope that I scored a few of the blocks right and the written part and that will be enough to get me through!! Best of luck to all those studying now. I start on FIN tonight!! Yikes.

   Wendy

   Posted 1 year ago #
2. 

   Jason
   

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   Jeff, you are right I do not understand section 1250 gains. I had a bad teacher in college and the becker book gives zero examples. I did some searching online and looked at your notes, and this is what I came up with. Please let me know if I am understanding this correctly.

   1250 building pre-1986

   sold $210,000 Accelerated dep $50,000 SL dep $40,000 Basis $200,000 Adjusted basis based on accelerated dep (200-50)=$150,000.

   -Total gain (210-150)=$60,000 -1250 recaptured gain [accelerated-SL]: (50-40)=$10,000 taxed as ordinary.

   -Remaining gain $60,000-$10,000=$50,000 1231 gain.
   -Of which $40,000 (SL DEP) is unrecaptured 1250 taxed at 25% unless low income bracket;
   -And remaining $10,000 is taxed as a 1231 gain 15%

   -Any post 1986 property is 1231 gain, and if straight line is used NO 1250 it's all 1231.

   Then for corporations section 291:

   =recaptured 1250 gain $10,000 + 20% of $40,000 SL (8,000)= $18,000

   Is that at all correct?

   FAR 81, BEC 75, AUDIT 92 ,Reg 88

   Posted 1 year ago #
3. 

   Patrick
   

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   Just got done with my REG exam..... I used Becker and the MC were fairly straight forward, as was one of the simulations, but the second simulation kicked my a$$. Now for the waiting game. Good luck everyone.

   AUD - PASSED
   REG - PASSED
   BEC - PASSED
   FAR - WAITING!!!

   Posted 1 year ago #
4. 

   DocHalladay
   

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   @Patrick-- glad to hear that. Wish I could have said the same about my exam, but I digress. I'm hoping for a score release around the second week of August at the latest (very wishful thinking, I know).

   Posted 1 year ago #
5. 

   Jeff - another71.com
   

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   Jason - that looks right, but it made my head spin :)

   If your current course doesn't cover it - get the Yaeger REG cram at a minimum because they for sure cover it.

   http://www.another71.com/cpa-review-discounts-2/

   Become a NINJA:
   NINJA ASSASSIN Notes
   NINJA ASSASSIN Audio
   Wiley Online Test Bank

   Posted 1 year ago #
6. 

   Patrick
   

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   Doc, I am hoping the scores come out about that time as well. I think there is a good chance they will, but who knows with these guys.

   AUD - PASSED
   REG - PASSED
   BEC - PASSED
   FAR - WAITING!!!

   Posted 1 year ago #
7. 

   NK19
   

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   Since reading everyone else's posts, I thought I'd put my two cents in. I also recently took the REG exam (7/1) and had the same experience that everyone else is describing. I found that the MC questions that were nothing like what I'd seen before in the Becker software. Although all of the topics were familiar, they were tested in new ways. The ones that I distinctly remember being difficult required you to apply of 2 or 3 different concepts covered in various areas of Becker that would be in seemingly unrelated areas to come up with the correct answer. However, being a tax professional, I'm hoping that my work experience helped out with those. As for the simulations, I have to imagine that mine were not "new" simulations in that they mirrored the Becker software simulations formats.

   I don't know if Jeff or anyone else knows this answer, but how IS the test graded? I know the break-out of points between MC & Simulations, but I'm more curious about the break-out within each part. Is there a bell curve or is it a simple get a MC correct, get a 1/2 point type of thing? Finally, does anyone know what happens with these new test questions? Are they graded differently based upon percentage correct?

   The reason I'm so curious is because the first exam that I took was FAR. When I left, I thought I had really failed. Turns out I got a 74. Next exam was AUD & I left feeling like I was in the 90s. I got a 83.

   Posted 1 year ago #
8. 

   Zakath
   

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   Wendy, myself and two coworkers all took REG this weekend and had the same experience with the simulations. We actually only had a total of 3 different simulations between all of us so we were definitely experiencing similar difficulties. Anyway, hopefully the curve will reflect the difficulty level lol

   Posted 1 year ago #
9. 

   cpa journey
   

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   Zakath

   Here is something put out by AICPA on scoring the CPA exam.

   http://www.aicpa.org/BecomeACPA/CPAExam/PsychometricsandScoring/ScoringInformation/DownloadableDocuments/How_the_CPA_Exam_is_Scored.pdf

   Posted 1 year ago #
10. 

    Jason
    

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    alright thanks Jeff, but I'm not concerned enough to buy a whole new book. I think I know enough to answer it if I'm asked.

    Patrick, was there a certain chapter of becker that they asked more than others for the business law?

    FAR 81, BEC 75, AUDIT 92 ,Reg 88

    Posted 1 year ago #
11. 

    bmw.cpa
    

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    For anyone who has already taken REG -

    Are we supposed to memorize the phase-out amounts for each adjustment/itemized deduction? (i.e. the phase out for interest on student loans, the phase out for each type of IRA, etc.) All of the amounts are different, so just wondering!

    Thanks!

    FAR 75 AUD 73,87 BEC 72,75 REG 80
    DONE!!!!!!!

    Posted 1 year ago #
12. 

    DocHalladay
    

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    @bmw-- I didn't have to know any of those amounts for my exam, but I would recommend knowing the $166,800 for itemized deductions limitation and the AMT exemption limitation formula.

    Posted 1 year ago #
13. 

    magster
    

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    Took REG yesterday and had the same experience as many of you...the MCQ's were weird, nothing like Becker had, but ok. As far as the simulations went, unreal and out of this world; not sure what they were thinking. Once again, REG kicked my "you know what" and since this was my 2nd attempt, it looks like I will be doing this all over AGAIN.

    I really think this entire process is like playing black jack - you may get a great hand or you get a lousy hand, you're skills and knowledge of the game have little to do with it...a bad hand and you could be an expert and still lose.

    So we study and study and know lots of the material, but then we get these off the wall simulations and, just like a bad hand in a card game, there is not much we can do despite of how much we may know. Just saying....

    *** One day I will get my life back.... one day ***

    Posted 1 year ago #
14. 

    Patrick
    

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    Jason - I honestly didn't get tested on much business law at all. There were maybe 2-3 questions in total and they were all from the 5th chapter.

    Someone else mentioned whether or not you need to know phase-out limitations... I had one on my exam. I would guess that they are not tested often, but it might be worth brushing up on them. Remember, if you get stuck on a question in the simulations, you can often find the answer fairly quickly by using the research tab if you are good at it.

    AUD - PASSED
    REG - PASSED
    BEC - PASSED
    FAR - WAITING!!!

    Posted 1 year ago #
15. 

    Patrick
    

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    Jeff - any statistics on when wave one scores were released last year? I know for the audit portion last window, they were pretty close.

    Thanks!

    AUD - PASSED
    REG - PASSED
    BEC - PASSED
    FAR - WAITING!!!

    Posted 1 year ago #
16. 

    Jason
    

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    Patrick,

    that is exactly what a different guy i know said. 3 to 4 questions on business law. I went through all the note cards, I believe I'm set there just going to study tax till my exam on the 3rd. A different friend of mine said to go back through chapter 1 of Bec where it talks about LLCs, LLPs, LP, and GP because it is on reg. any truth to this?

    Also, Jeff posted the predictions for Reg already it's august 24th for us.

    FAR 81, BEC 75, AUDIT 92 ,Reg 88

    Posted 1 year ago #
17. 

    DocHalladay
    

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    @Jason-- I had very, very few business law questions. Parts that were "sure to be on the exam" per the lectures, etc. etc., were not even covered. As long as you're familiar with the basics, I think you'll be just fine on the law portion of the exam.

    Posted 1 year ago #
18. 

    MJP
    

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    and I thought I was the only one who was blown off by the REG exam! I took it last July 8. First testlest was a breeze but the 2nd one blew my mind off! Questions were really tricky and hard! The 3rd one went ok but not as easy as the 1st. With the sims, I had topics which I wouldn't have imagined to be tested! These were things which were not even discussed thoroughly in review books. At the least, they were mentioned in a very short sentence or side/footnote. whew!

    BEC - 85 | AUD - 92 | FAR - 95 | REG - 87 | Done with the Exams! :)

    Posted 1 year ago #
19. 

    DocHalladay
    

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    @mjp- That was my test-taking experience to a"t." I cannot wait until we see the scores, considering the majority of us feel that way. Could be a good thing, could be a bad thing; I guess we'll find out.

    Posted 1 year ago #
20. 

    whitesoxfancpa
    

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    I'm hoping the questions you guys are talking about turn out to be pretest questions!

    AUD 96 FAR 95 REG 94 BEC 88

    Posted 1 year ago #
21. 

    Patrick
    

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    Jason - I have never heard of having ot know the different business entity types on REG, except for the obvious differences that are discussed in relation to s-corps, c-corps and partnerships as far as taxation goes. Haven't heard anyone talk about LLP's, LLC's or LP's much on REG, but then again, who knows, they could throw you a change-up.

    August 24th, thats crazy, I take BEC on the 23rd....

    AUD - PASSED
    REG - PASSED
    BEC - PASSED
    FAR - WAITING!!!

    Posted 1 year ago #
22. 

    DocHalladay
    

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    @Patrick- I would say as long as one knows which are "pass through" entities for taxation purposes, that would be sufficient. I don't recall a single question on REG that required me to differentiate between the LLP/LLC/LP/etc. And yeah, the wait is going to be killer.

    Posted 1 year ago #
23. 

    Patrick
    

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    I agree, I think you need to be able to differentiate between pass through entities, but you also need to know the tax consequences of changing from c-corp to s-corp and the effect of transferring assets and accumulated earnings. LLP/LLC/LP not covered on my exam or anyone else I have talked with.

    AUD - PASSED
    REG - PASSED
    BEC - PASSED
    FAR - WAITING!!!

    Posted 1 year ago #
24. 

    MJP
    

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    @Doc, yeah i agree! Btw what would it mean if we got new sim?

    BEC - 85 | AUD - 92 | FAR - 95 | REG - 87 | Done with the Exams! :)

    Posted 1 year ago #
25. 

    DocHalladay
    

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    It would mean that you would be in "Wave 2" of the score releases. And that would mean waiting a few weeks longer for your scores. Worse yet, if you took the exam July 1st/2nd and had a new sim, you could possibly wait a tad over two months for a score release.

    Posted 1 year ago #
26. 

    rash
    

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    Wow. reading all these posts are making me nervous. 12 days to go for my exam....

    Aud- Pass, BEC- Pass, FAR- Pass, REG- Pass.... Done!

    Posted 1 year ago #
27. 

    baseball21
    

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    Hey everyone. i have my test next friday and i have some questions for the Becker users out there who have taken the exam. I have passed far and did use the flashcards much because they are all in accounting language and not regular english, would you recommend them for REG?

    Also, how much Blaw is on the exam because the book makes it seam to be 30-40% but i see posts of people saying they only had a few questions? Should i basically stop studying business law since i have most of the major topics down pretty well and focus only on tax for the res of my time?

    Also, has anyone ever heard of or had a business law section in the simulation?

    Are the questions on the actual exam a lot harder than the HW questions in becker? because i seem to get somewhere between 75-90 on all the progress quizzed ive been taking but did horrible on the practice exam because it asked questions about stuff i have never seen a question on like the hope scholarship calculation and another on section 179 assets. Should I maybe focus more on the supplemental questions since they seem to be more involved, because with FAR it seemed the the questions were even more straight forward than the regular hw and way easier than the supplementals but based on this preactice exam it appears it might be the opposite for reg. am i right about this?

    Lastly how important is the AMT, I know the examption formula but the adjustments and preference mnemonics are just insane?

    Any insight would truly help. Goodluck to anyone and thank you for any response.

    And sorry for the long read but please help me with any of these questions you can.

    REG 7/23 90!!
    FAR 4/30 83!!
    BEC 8/31 87!!
    AUD 11/23 87!!

    Posted 1 year ago #
28. 

    baseball21
    

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    i meant to say DIDNT use the flashcards much for FAR by the way

    REG 7/23 90!!
    FAR 4/30 83!!
    BEC 8/31 87!!
    AUD 11/23 87!!

    Posted 1 year ago #
29. 

    DocHalladay
    

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    In my experience with REG, Becker's questions were much more detailed/difficult than the calculations I saw on the actual exam. I would definitely be familiar with the AMT mnemonic and the exemption formula, and it sure wouldn't hurt to know the Section 179 stuff. If you're good with business law, I would recommend looking at the tax stuff that you're weak on or don't know as well; that is not to say to blow off the business law completely, but just concentrate on what you are weak on right now. Before the exam, I would skim your law notes/book one last time to make sure you've got it all.

    Posted 1 year ago #
30. 

    Patrick
    

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    Haven't ever had any experience with the flashcards, so I won't comment on that. As for B-Law, it has been discussed in this forum as you mentioned. Doesn't seem to be heavily tested in most people's case. My instructor mentioned that he has never heard of any student getting a B-Law simulation, though there are a few practice ones on your Becker CD. As for AMT, I would certainly know the preferences and adjustments. There really aren't that many to memorize when you look at the list. A few of my co-workers have had AMT simulations and knowing these items if you got one would be crucial. As for homework difficulty vs practice exam difficulty on Becker, I scored pretty evenly on both when I did them, but felt that the practice exams went into more detail. I went through all the homework until I had gotten all questions right, then moved on to supplemental questions and did the same, and then took progress tests and then the final exams, so I was pretty built up by the time I did the final exams.

    AUD - PASSED
    REG - PASSED
    BEC - PASSED
    FAR - WAITING!!!

    Posted 1 year ago #

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