Q: Jeff, I took Regulation this past week and did not complete my 2nd simulation. I didn't do the research tab and only completed two of the three main tabs. I completed my first simulation and felt pretty good about it, as well as all the MCQs.
Will I be heavily penalized for not completing that second simulation?
-Quentin on Facebook
A: Quentin – you should be fine. Of all the tabs to leave blank, you did the right thing in skipping research. I didn't finish my 2nd simulation on most of my passing CPA Exam sections.
For Financial Accounting and Reporting, I left 3 tabs plus the research blank for simulation #2 and I still passed.
Honestly, I couldn't figure out what they wanted me to do on the simulation. I sat there for 15 minutes puzzled because – let's just put it this way – the instructions on the questions left a lot to be desired.
I flat out knew the material, but the simulation was poorly written and I had no idea what they wanted me to enter into the blanks.
I botched Simulation #2 and I still passed.
You should be fine!
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Jeff Elliott is a Licensed CPA and Active Member of the American Institute of Certified Public Accountants, The Kansas Society of CPAs, and Founder of Another71.com and Club 75.