Cracking regulation is not very easy task, as the whole subject is very new but when you understand each and every concept then it’s one of the most interesting subject.
- The strategy which works for me is as follows:
- I go through lecture of each module at a time then make notes on my own which helps me to understand it in a better way.
- I used to do MCQs, skill practice and Sims immediately after completing lectures of one particular module. It helps to understand the concepts fully from all aspects.
For MCQs, I marked the question where you go wrong read the explanation given and add it to my notes and also marked the question which I felt is important whether I have done it correctly or not.
For Sims, even if I have done that sim rightly on my own, I used to saw how instructor solve that question especially videos of Mike Potenza. It helps me understand how to tackle that question in exams.
- Revision:- I used to revise my notes and start doing unlimited practice test for each chapter and once done reviewing them I make a note of where I went wrong.
- Lastly I gave 2 mock test (scores:- 72 and 60) , AIPCA sample reg test and I regret that I had not given 3rd mock test due to the time constraint.
- Topic wise advice:-
- For individuals(Reg 1&2):- No need to memorize phase out limits because if they ask question on limits, they will anyways give these limits on exams.
- For property taxation(reg3):- For solving the question on involuntary conversion try to write the information on paper and then solve the question because solving in the head without writing ,sometimes give wrong answer(which I faced many a times in my preparations).
- For Corp, S Corp and Partnership(reg 4,5):-One of the most favourite topic for examiners and of huge weightage(40% approx.).Try to differentiate the basis calculation for each (whether C Corp ,S Corp and partnership). It is recommended to make a chart for these basis on one page so that you understand it in better way.
- For reg 6:– Weightage is same as business law (10-15%) so make sure you understand each and every topic. Don’t miss anything.
- For business law(reg 7&8):– Watch the Skills Practice videos of Peter Olinto from Becker for revision, it gives good review of the main points on each topic.
- Common advise on Unlimited practice test and mocks:-
- Best piece of advice I can offer is to take advantage of the unlimited practice tests and get familiar with all types of MCQs and SIMs. In my last days of exams, I used to solve daily 50 MCQs and 5 sims and work on the wrong answers.
- Don’t let the mock scores discourage you or make you overly confident. These are just random questions to give you guidance on some weak/strong areas. If you score low, use it as a motivator to power through. If you score on the higher end, don’t assume you are 100% prepared and begin to slack.
Hope this helps to many. Thank you..!!
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