Cracking regulation is not a 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 subjects.

  • The strategy which works for me is as follows:
  • I go through lectures 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 instructors 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 tests for each chapter and once done reviewing them I make a note of where I went wrong.
  • Lastly, I gave 2 mock tests (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:-
  1. For individuals(Reg 1&2):- No need to memorize phase-out limits because if they ask questions on limits, they will anyways give these limits on exams.
  2. For property taxation(reg3):- For solving the question on the involuntary conversion try to write the information on paper and then solve the question because solving in the head without writing, sometimes give a wrong answer(which I faced many times in my preparations).
  3. For Corp, S Corp and Partnership(reg 4,5):-One of the most favorite topics 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 this basis on one page so that you understand it in a better way.
  4. For reg 6:– Weightage is the same as business law (10-15%) so make sure you understand each and every topic. Don’t miss anything.
  5. For business law(reg 7&8):– Watch the Skills Practice videos of Peter Olinto from Becker for revision, it gives a good review of the main points on each topic.
  • Common advice on Unlimited practice tests and mocks:-
  1. The 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.
  2. 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 many. Thank you..!!

REGARDS,
PRIYAL AJMERA

SIMANDHAR EDUCATION

Simandhar Education is India’s No.1 training provider for US CPA, US CMA, CIA, Enrolled Agent, and IFRS  professional courses.

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