REG Task Based Simulations – What to Expect

Your success on the Uniform CPA Exam is highly tied to your confidence and your preparation. Today, we are going to help you maximize both. Are you ready? I’m ready. I’m ready. I’m ready.

Sounds like you have channeled your inner SpongeBob SquarePants with a side of AJR. Confidence exercise is complete 🙂 Now let’s focus on the preparation side. Specifically, let’s discuss the task based simulations of the Regulation (REG) portion of the CPA Exam. As a reminder, the task based simulations of REG make up 40 percent of the REG section and is comprised of six unique simulations.
 

REG Task Based Simulation Example

For each of the blanks in the table below, fill in the underlined cells and select from the list provided the appropriate MACRS Recovery Period based on the Type of Property to the left of the blank.

Type of Property MACRS Recovery Period
Office furniture and fixtures (1)
Racehorse more than two years old (2)
Residential rental property (3)
Automobiles (4)
Nonresidential real property (5)
Barges (6)

 

REG Task Based Simulation Example Fill in the Blank Options

(1)

  1. 3-year
  2. 5-year
  3. 7-year
  4. 10-year
  5. 15-year
  6. 20-year
  7. 27.5-year
  8. 39-year

(2)

  1. 3-year
  2. 5-year
  3. 7-year
  4. 10-year
  5. 15-year
  6. 20-year
  7. 27.5-year
  8. 39-year

(3)

  1. 3-year
  2. 5-year
  3. 7-year
  4. 10-year
  5. 15-year
  6. 20-year
  7. 27.5-year
  8. 39-year

(4)

  1. 3-year
  2. 5-year
  3. 7-year
  4. 10-year
  5. 15-year
  6. 20-year
  7. 27.5-year
  8. 39-year

(5)

  1. 3-year
  2. 5-year
  3. 7-year
  4. 10-year
  5. 15-year
  6. 20-year
  7. 27.5-year
  8. 39-year

(6)

  1. 3-year
  2. 5-year
  3. 7-year
  4. 10-year
  5. 15-year
  6. 20-year
  7. 27.5-year
  8. 39-year

 

REG Task Based Simulation Example Solution

Type of Property

MACRS Recovery Period

Office furniture and fixtures 3. 7-year
Racehorse more than two years old 1. 3-year
Residential rental property 7. 27.5-year
Automobiles 2. 5-year
Nonresidential real property 8. 39-year
Barges 4. 10-year

 

REG Task Based Simulation Suggestions

For the above example task based simulation, you could have tried a variety of approaches. First, you could have tried using blunt memorization. That is, you already knew the answer to a specific blank and you choose the right answer without considering the other options.

Second, if you are unsure of what is the right answer, you could have tried using the technique known as process of elimination for any given blank. However, it is important to note that the instructions did not specifically mention that answer choices would be used only once. If you had attempted to use process of elimination across the different types of property, you could have made mistakes by failing to consider all possible answer choices. For example, if you correctly selected 7-year for office furniture and fixtures and if there was another type of property that also has a 7-year MACRS Recovery Period, you could have missed the second 7-year MARCS Recovery Period item.

Although you may have been successful in the first approach or the second approach, there is an approach that can be more efficient and effective on the task based simulations. Referencing the Authoritative Literature tab can help you find appropriate guidance to help you succeed on the task based simulation that you are currently working on. Specifically, using appropriate search terms can help you improve your accuracy tremendously. However, it takes practice and resilience to become a search guru of the Authoritative Literature tab. To elevate your status from search novice to search guru, you need to practice, practice, practice with your test prep product. At first, it may feel awkward and may take more time to use the Authoritative Literature tab. After you practice time and time again with this technique, your accuracy will most likely improve substantially. As always, remember to breathe.

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