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AICPA REG Practice Tests & CPA Exam Test Prep - FAQ

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The best test prep involves studying both the subject matter and the exam itself! Read on for AICPA Regulation FAQs and other test information.

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Be sure to purchase our test bundles to get the special bonuses. Our Practice Tests, Digital Flash Cards, and Study Guides have been expertly crafted to prepare you for the AICPA REG exam. They are tailored to foster a deeper understanding and retention of key concepts. Using all three of these will ensure you master the skills you need to pass your certification exam.

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Why should I use Exam Edge to prepare for the AICPA Regulation Exam?

FAQ's for Exam Edge AICPA Regulation practice tests

We have ten great reasons why Exam Edge is the #1 source on the internet when it comes to preparing for AICPA Regulation test:

  • Comprehensive content: Exam Edge's AICPA Regulation practice tests are created specifically to prepare you for the real exam. All our AICPA REG practice test questions parallel the topics covered on the real test. The topics themselves are covered in the same proportions as the real test too, based on outlines provided by the American Institute of Certified Public Accountants in their AICPA REG test guidelines.

  • Realistic practice: Our AICPA REG practice exams are designed to help familiarize you with the real test. With the same time limits as the real exam, our practice tests enable you to practice your pacing and time management ahead of test day.

  • Detailed explanations: As you complete your practice tests, we show you which questions you answered correctly and which ones you answered incorrectly, in addition to providing you with detailed step-by-step explanations for every single AICPA Regulation practice exam question.

  • Performance insights: After you complete a practice test, we provide you with your raw score (how many you answered correctly) and our estimate of the AICPA REG score you would have received if you had taken the real test.

  • Ease of access: Because all our practice tests are web-based, there is no software to install. You can take AICPA REG practice exams on any device with access to the internet, at any time.

  • Flexible use: If you must pause while taking one of our practice tests, you can continue right where you left off. When you continue the test, you will start exactly where you were, and with the same amount of time you had remaining.

  • Thousands of unique questions: We offer 5 different online practice exams with 500 unique questions to help you prepare for your AICPA Regulation!

  • Low cost: The cost of ordering 5 practice tests is less than the cost of taking the real AICPA REG test. In other words, it would be less expensive to order 5 practice tests than to retake the real AICPA Regulation exam!

  • Our trusted reputation: As a fully accredited member of the Better Business Bureau, we uphold the highest level of business standards. You can rest assured that we maintain all of the BBB Standards for Trust.

  • Additional support: If you need additional help, we offer specialized tutoring. Our tutors are trained to help prepare you for success on the AICPA Regulation exam.

What score do I need to pass the AICPA REG Exam?

To pass the AICPA Regulation test you need a score of .

The range of possible scores is 0 to 100.

How do I know the practice tests are reflective of the actual AICPA Regulation?

At Exam Edge, we are proud to invest time and effort to make sure that our practice tests are as realistic as possible. Our practice tests help you prepare by replicating key qualities of the real test, including:

  • The topics covered
  • The level of difficulty
  • The maximum time-limit
  • The look and feel of navigating the exam
We have a team of professional writers that create our AICPA Regulation practice test questions based on the official test breakdown provided by the American Institute of Certified Public Accountants. We continually update our practice exams to keep them in sync with the most current version of the actual certification exam, so you can be certain that your preparations are both relevant and comprehensive.

Do you offer practice tests for other American Institute of Certified Public Accountants subjects?

Yes! We offer practice tests for 4 different exam subjects, and there are 20 unique exams utilizing 2000 practice exam questions. Every subject has a free sample practice test you can try too!
AICPA Auditing and Attestation (AUD ® ) Practice Tests
AICPA Business Environment and Concepts (BEC ® ) Practice Tests
AICPA Financial Accounting and Reporting (BEC ® ) Practice Tests
AICPA Regulation (REG ® ) Practice Tests

To order tests, or take a sample test, for a different subject: Click on ' Name on the Exam Name' You will be take to the orders page

How do I register for the real American Institute of Certified Public Accountants?

For up-to-date information about registration for the American Institute of Certified Public Accountants, refer to the American Institute of Certified Public Accountants website.

AICPA Regulation - FAQ Sample Questions

The taxable year of a partnership ordinarily will NOT close as a result of the death or entry of a partner, or the liquidation or sale of a partner's interest.  But the partnership's taxable year closes as to ________________________________.

Correct Answer:
the partner whose entire interest is sold or liquidated

in the context of partnership taxation, understanding when the taxable year closes is crucial for appropriate accounting and compliance with tax laws. the taxable year of a partnership generally does not end simply because of changes in the partnership's composition, such as the death of a partner, the addition (entry) of a new partner, or even the partial liquidation or sale of a partner’s interest. these events, while significant, do not trigger the closure of the partnership’s taxable year for all partners involved.

however, there are specific circumstances that do prompt the closure of the taxable year for particular members of the partnership. one such circumstance is when a partner's entire interest in the partnership is either sold or liquidated. when this occurs, the partnership's taxable year closes with respect to that specific partner. this closure means that all items of income, deduction, gain, loss, and credit to which that partner is entitled must be reported up to the date of the transaction that resulted in the sale or liquidation of their entire interest. this mechanism ensures that the departing partner settles their tax obligations up to the point of their exit from the partnership.

additionally, another crucial point to note is regarding the death of a partner. in the event of a partner’s death, the partnership's taxable year also closes for the deceased partner. this means that the decedent's final tax obligations regarding the partnership are calculated and reported as of the date of their death. this closure allows the partnership and the deceased partner’s estate to address and settle any tax considerations linked to the partnership income up until the date of death.

understanding these rules is important for both current and prospective partners in a partnership, as it affects how and when tax items are reported and obligations are settled. it ensures that all partners are treated fairly and equitably in the eyes of tax laws, particularly when significant changes occur in the structure or membership of the partnership.

A CPA will be liable to a tax client for damages resulting from all of the following actions except:

Correct Answer:
refusing to sign a client's request for a filing extension

a certified public accountant (cpa) holds significant responsibilities in managing the tax-related matters of their clients. ensuring compliance with tax laws, filing tax returns on time, and providing accurate financial advice are critical components of a cpa's role. however, there are specific scenarios where a cpa might not be held liable for damages to a client, and understanding these scenarios is crucial for both cpas and their clients.

one such scenario is when a cpa refuses to sign a client's request for a filing extension. typically, a filing extension is requested by a taxpayer to obtain additional time to file their tax return without incurring penalties for late filing. the decision to sign or not sign such a request is at the discretion of the cpa based on their professional judgment and understanding of the client's financial situation. if a cpa refuses to sign a filing extension request, it is usually because they believe that the extension is unnecessary or could lead to complications or potential misuse.

the reasons for a cpa not being liable in this situation include the lack of direct harm caused by the refusal. refusing to sign an extension request does not itself result in financial loss or introduce inaccuracies in the tax filings. instead, it places the responsibility back on the client to either file within the original deadline or to validate the necessity for more time to file accurately. this contrasts with other actions like failing to file a tax return on time, providing erroneous tax advice, or disclosing confidential information, all of which can lead to direct financial harm or legal repercussions for the client.

therefore, while cpas are liable for damages arising from negligence, misconduct, or failing to fulfill their contractual obligations, not signing a filing extension request does not typically meet these criteria for liability. it is viewed more as a professional judgment call rather than an act of negligence or omission that would result in damages or losses. this distinction is crucial in understanding the boundaries of cpa responsibilities and liabilities in tax practice.