Posted: 10 Oct 2009 at 23:47 | IP Logged
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Roshini -- my REG tips in response to your post on the BEC forum:
Well I did not have any REG-specific study plan, but I used Bisk as my main materials, supplementing with Becker and Wiley software. I started with and focused the accountants responsibilities and business law chapters because I was weak in those and had a strong tax background. Still, I did have to spend maybe 30-40% of my time studying the tax.
Not sure what your background is, but if you do not have a tax background, I would recommend the opposite, focus on tax instead because tax is more heavily tested. Probably pay special attention to Becker chapters 1-4. Traditionally, the MCQs are about 50% tax and 50% business law + accountants responsibility, but it varies with the exam.
Simulations will very likely be in tax. In theory, they could have business law simulations, but they traditionally have been in tax, and I have not heard of anyone getting a business law simulation. And the tax is focused more on individual tax (chapters 1-2) than corp/partnership.
Difficulty of sims depends on which version of the test you get. My sims were pretty straightforward, except the 1st tab of the 1st sim was on a topic I had only a very general knowledge of and that was very lightly covered in review materials. My REG sims were easier than FAR or AUD. Instead, my 2nd MCQ testlet was a killer. However, if you read through earlier posts on the REG forum, you'll see that many others got a version that had sims as bad as FAR sims.
As for time management, I would recommend no more than 30 minutes per MCQ testlet, preferably closer to 20 for the 1st testlet. I ended up with more time than I needed for my sims, but you never know if you will get the killer sims. The REG MCQs are only 24 per testlet, unlike the other 3 exams' MCQ testlets that have 30. Don't worry about time when you first start studying. You will speed up after practicing with hundreds of MCQs.
FYI you can read about my REG experience, including timings, that I posted after taking it on Aug 5 in this thread: http://www.cpanet.com/cpa_forum/forum_posts.asp?TID=24483&am p;PN=1&TPN=3
I've also copied and pasted below as follows:
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Well, I had my REG exam this afternoon. First testlet was OK. Finished in 21 minutes, was targeting 20 minutes per MC section with 30 minutes the maximum I would allow myself, in order to leave enough time for the simulations given what many people have posted about the difficulty of the REG and FAR sims, as well as my own bad experience with FAR sims last month. Second MC testlet was noticeably more difficult, probably the most difficult MC testlet of the 3 exams (AUD, FAR, REG) I have taken so far. A few questions really stumped me. I just gave them my best shot and forced myself to move on after 26 minutes. 3rd testlet was less difficult (oh no, did I bomb the 2nd testlet???), although still noticeably more difficult than the 1st testlet. Again, I gave the stumpers my best shot and made myself move on to the sims after 26 minutes.
First testlet consisted of a few questions on a topic that I was not very familiar with and was also covered very little in the review materials. Ugh. I just gave it my best shot. Well, at least it was not a topic I had never seen before, so not as bad as my FAR sims yet. Did the rest of the tabs and had adequate time for the written communication tab. Went on to the next sim, had plenty of time for the communication tab, and even had 5 minutes to spare at the end. Surprisingly, I thought the sims were fair. I struggled only with a few questions on the first tab of the first sim, better than I can say for the FAR sims last month (hellish!) or even the AUD sims in May.
Now I pray that I did not mess up the MCs too badly. I guess the good news is that I have a shot at Wave 1 since I did not get the hellish sims that some other people got. Time to cram as much as possible for BEC now, just as I start working tax season hours again as the 9/15 and 10/15 extension deadlines approach. :-( And darn it, I can't find the Becker BEC book! I rely mostly on Bisk because it's the current version and my Becker is the 2006 version from my former coworker, but I still find Becker useful because it explains some things better. Oh well, at least I still do have the Becker BEC problems, but just not the textbook.
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