FREAKING out over Cares act testable 10/1/2020

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  • #3099365
    FranciscoG43
    Participant

    Hi everyone,

    This is my first post and it’s one of panic. Becker released its Cares Act updates today that are testable 10/1/2020. My exam is 10/ 10/2020. I finished Ch1 and Ch2 earlier this week and saw the updates this morning. In the updated PDF a bunch of stuff has changed in the things I already learned and I am freaking out. I am worried it will mess me up, and how will I be able to practice the new rules if the MCQs are from old exams using old rules? Will my reg exam questions specify pre or post cares act?? HELP.

    Thank you,

    Francisco

    #3099914
    Sam
    Participant

    First step is to take a deep breath and not panic 🙂

    Becker should have updated the software for that already, i.e. lectures, sims, MCQs, etc. Your approach depends on how much you had done already and what you have left to go.

    I took REG in July and was overwhelmed with the content update from June. I pretty much ended up listening to the lectures (the ones affected) in full again and jotting the differences down in my notes. I did that before moving on to new material so I had a chance to come back to the updates later as part of review to reinforce it (rather than learn it for the first time).

    A HUGE part of new updates is that the question(s) you get asked will have to specify the dates if that changes the answer (i.e. before or after the rules were in affect). They have to give you relevant information so you know how to answer the question. That always comforted me; they always give you what you need in order to answer the question correctly.

    Obviously the more time you have, the better. What I would do to reinforce is take practice tests after each unit or two (i.e. on units 1 and 2 after finishing 2, on units 1-6 after finishing 6). The more times you look at the material, including content updates, the better your chances to remember. Good luck!!

    AUD - 75
    BEC - 90
    FAR - 78
    REG - 90
    You can and you WILL do this!
    #3100049
    FranciscoG43
    Participant

    Thank you for your response!!

    I have read the material that has changed and been able to somewhat grasp it. Unfortunately the lectures will not be updated until October 1st, they only put out the updated pdf. So I sort of have to learn the new stuff on my own (most importantly NOL stuff) which is a bit scary. Maybe I can look for some stuff on youtube?

    I have already come across a couple questions on Becker practice exams that would be different, mostly just individual charity contribution stuff. Hopefully they update MCQs by the time I start finishing later chapters.

    Almost contemplated taking it 2 weeks earlier to avoid this but would have to drive 6 hours to get to the nearest testing center available on 9/30. So I time to buckle down!

    #3100607
    Sam
    Participant

    Wow that's really frustrating! Yeah you kinda got an awkward in between date, through no fault of your own. Earlier, and you wouldn't have to worry about the updates, and later, and you would have more time to build in for the updates. There is a chance that a seat would open up closer to you for the 9/30 date, but then planning and studying becomes more complicated.

    In any case, yeah, probably best to buckle down now. You got this!

    AUD - 75
    BEC - 90
    FAR - 78
    REG - 90
    You can and you WILL do this!
    #3102902

    The big change is NOLs…it's not a huge deal.

     
    Jeff Elliott, CPA (KS)
    NINJA CPA Review
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