(1) Ethics, Professional Responsibilities and Federal Tax Procedures.

Business Law.

(2) Federal Taxation of Property Transactions.
(3) Federal Taxation of Individuals.
(4) Federal Taxation of Entities.
(5) Business Law.

Like all CPA exam sections, a strategy should be in place when attacking regulation. Remember that although REG is a tax heavy exam, the conceptual components (e.g. ethics & business law) should not be disregarded. Often students find themselves disappointed with their 71% come score release day, and the first question I ask them is “how much did you study for business law?”

Studying for business law is an annoying task because although this section is not weighted very heavily compared to other sections (approximately 10-20% according to the AICPA), there is still a large volume of information that needs to be absorbed.

Yes, corporate and entity taxation is considered the “meat and potatoes” of this exam, but if you’re sitting in the 70-80% range, 10-12 points can go a long, long way. My plan of attack when studying for regulation is as follows:

(1) Individual Taxation – Go heavy on the mnemonics and create your own. Make sure to know the differences between adjustments and miscellaneous itemized deductions. In addition, make sure to know which individual credits are refundable and which are non-refundable.
(2) Entity and Corporate Taxation – Make sure to know the key differences between C-Corps, S-Corps and Partnerships. How to calculate basis, what are the differences between distributions and liquidations, and what are their respective taxable income items and deductions.
(3) Business Law – Read and do as many practice questions as possible.

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• Be well prepared

The best way to avoid negative marking is by solving the questions accurately. To be able to solve the questions efficiently, it is important to be thorough with all the CAT syllabus topics and be well acquainted with the different question variations. Also, take several mocks before the exam for self-analysis and develop problem-solving abilities in the exam.

• Read the questions thoroughly

Read questions properly

It is important that each question should be read properly before starting to solve. In many cases, candidates misread a value or a unit and end up solving the question incorrectly. So, it is suggested to read the questions effectively and then start solving.

• Avoid guessing

It is one of the most common practices that many individuals do in the competitive exams. As there is a -1 negative marking in CAT, even 1 incorrect guess can end up reducing the overall percentile to a great extent. It is always suggested to answer accurately and not guess in the CAT exam.

• Be calm and concentrated

There are several instances where candidates mark the incorrect option in a hurry without noticing. This mainly happens when candidates states of minds are not composed and they get distracted. This is one of the common mistakes which can be easily avoided by staying calm and composed.

• Avoid last-minute attempts

The duration of the CAT exam is 3 hours and the total questions are 100. So, it is really difficult for an individual to attempt all the questions in that time. But, CAT is all about getting the answers right and not solving all the questions. So, it is important to attempt the questions accurately and avoid last minute answers as it may lead to an incorrect attempt.

• Have proper test-taking strategies

In the exam, managing time and solving accurately is very important. To be able to confidently attempt the questions, one needs personal test-taking strategies. The problem-solving abilities differ from person to person and so, it is important to have individual strategies. It is advised to start attempting with the easy questions from the more confident topics (according to self-preference) and then move to the difficult and time-consuming ones.

These were a few tips that can help the CAT aspirants avoid getting negative marking in the exam. It is important to have proper preparation and be confident with the syllabus. Candidates are suggested to take mock tests which are provided by the IIMs on the official website. The mock tests are generally released after the CAT registration is over and are available for all the registered candidates.

CAT aspirants can also check out BYJU’S video lessons on different CAT exam topics to learn and prepare more effectively. Subscribe to BYJU’S YouTube channel to check out more video lessons and download the app to get complete assistance.

1. Read the newspaper daily

Newspaper editorials provide you with not only the updates on current affairs, but also an insight on writing style and flow. It is easy to observe how each writer has explained the happenings of the world in 250-300 words. You can also observe the correct application of Grammar rules. Slowly, and steadily, you’ll become so proficient, that you may be able to weed out mistakes in the newspaper itself, if any.

2. Practice speaking in English

Though spoken and written English are different in significant ways, it is always a confident boost to be able to fluently speak in a language that is not your mother tongue. Speaking in English will create nerve tracks in your brain, that will enable you to be more understanding of the language. Conscious efforts in this direction will force your brain to express thoughts in English, thereby improving your vocabulary, too.

3. Carry your flash cards everywhere.

Nowadays, due to digitization, we find mobile apps for everything. Similarly, there are apps for flash cards, too. If you’re more comfortable with the paper cards, then discretely sneak them to your cousin’s wedding, or else pretend to be clicking really great pictures while learning up as many words as humanly possible.

Pro Tip: ALWAYS learn the application as well. It helps to remember the word better than anything else. It is also beneficial to associate the words with things that you see in daily life.

4. Grammar isn’t just for convent school girls.

In school when we were forced to speak in English, it hadn’t been because the teachers hated us. It was so that we could grasp the language. Grammar rules if studied on their own, will definitely bore a person out. But when you study with a partner, or even if alone, you study the rules through a YouTube video, it gets easier. Always remember that knowing Grammar rules will fetch you ‘lazy’ marks i.e. the marks assigned to match the columns, complete the sentences, mark the wrong part of sentence, etc. Reading Comprehension also becomes much easier as you do not have to spend too much time on understanding a sentence.

5. Being patient.

Learning a new language is difficult. But relearning a language that you’ve spoken almost all your life is really tricky. You will be exasperated as the words will seem the same, or you’ll keep messing up the rules. But, keep going. Keep practicing. Because once you get the hang of this section, it’ll be a great time saver as well as the easiest way to score.

Rest assured, whatever you do, do not ignore this section as the 4/5 ‘lazy’ marks could be the ones that make all the difference in your score. English is sometimes confusing, and remembering the exception to the rules can sometimes muddle your head. But, it’s always a question of how badly do you want to achieve your dream. Keep believing. Keep working. All the best!

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Contrary to the multi-tasking lifestyle that we lead, studying demands focusing on one thing at a time. Constant devotion of time and attention to a singularly tracked study material, often gets difficult due to the existence of distracting electronics and the restlessness induced due to overuse of social media. Social media constantly distracts us by being so current and finicky. Though, the biggest boon of social media is the sheer accessibility of opportunities to succeed, to meet new people, and to stay updated, it is of utmost importance that we first learn to prioritize our time.

So, in order to help you stay focused and get the most out of your devoted study time, here are 5 fool-proof hacks:

1. Meditate your way to A+B=C

Not only is meditation a way to guarantee superhuman concentration levels, but it also calms the nervous system. It stimulates the brain to achieve better cognitive and intellectual performance. Studies have shown that meditation is responsible for changes in brain functions, increasing students’ practical intelligence and creative thinking. It is the sure shot way to sharpening your memory as well as keeping away restlessness and insomnia, which are very common symptoms of stress.

2. Eat to nourish your brain

We have been told that since walnuts look like miniature brains, they are good for the brains. Well, turns out, they really are excellent for maintaining optimum brain health. Foods containing essential fatty acids like Omega-3, copper, polyphenols are excellent for increased brain power. Wondering which foods contain these wonder components, look no further, here’s a list:

• Vegan Options – Nuts (walnuts, almonds), turmeric, blueberries, broccoli, avocado, spinach, pumpkin seeds, olive oil, coconut oil.
• Non-vegan Options – Salmon, eggs, dark chocolate.

3. Study with a partner

Studies show that humans function better in a group, or with a partner, in general. Due to our social nature, we tend to look for safety and a sense of team to be performing at our optimum level. More than that, studying with a partner ensures that we complete what we aimed to do. It encourages us to focus better, and in case we are stuck at a particular problem, our study partner can always help out. It is in fact, one of the most fruitful ways to ensure successful study sessions.

4. Exercise for a sharper memory

Exercise guarantees a healthy body, and an even healthier brain. It stimulates the production of endorphins (a chemical naturally released in the brain to reduce pain, that in large amounts can make you feel relaxed or full of energy). Endorphins lower cortisol levels (a hormone produced as response to stress), and increases energy levels. Studying gets easier as you feel motivated, confident, and happier.

5. Organization is key

Organize your study space, your time table, your exam day, and your life in general. The more ordered your timeline is, the easier it is to escape chaos and focus. The time tables that you set, should be a doable allocation of study material to the time in question. A clutter-free desk results in a clutter-free mind. You can easily find your required materials, and start studying without having to waste time searching for everything in a mess.

6. Originality is inspirational

Study in the way you find comfortable. You shouldn’t be bothered if it takes you a little while longer than your friend to study a particular topic. Set your own time table, and device your own study techniques like writing down pointers, making flashcards, or just plain highlighting the text. It is always best to trust your own gut when it comes to planning for your future.

Now, that you have a few pointers as guidelines, don’t just stick to them. Be innovative, and find ways to add your own twist to these hacks. It is after all your study sessions. And the most important of all is to always believe in yourself and the dream you want to achieve. All the best!

So far, out of all these exams, the CAT which is conducted by the All India Council of Technical Education (AICTE) is accepted by almost all universities for the Post Graduate Diploma in Management (PGDM). The Common Admission Test (CAT) is a computer based test that is held in the second half of the year. It tests the students in Verbal Ability, Quantitative Ability, Logical Reasoning/Data Interpretation.

Here are a couple of things you need to know before you go ahead with the test.

1. First impression is NOT the last impression.

The CAT test gives the candidate 1 hour for each session, i.e. it is a 3-hour test overall. You can only go to the next session once the allotted time has elapsed. There are a total of 100 questions in the test that are so designed that 1 question never fully focuses on just 1 topic. The question can be an artful mixture of multiple concepts. Hence, I’m CAT first impressions are usually deceptive.

1. It’s possible to score a negative integer

Contrary to what our school grading system teaches us, marks aren’t always positive integers. The CAT has negative marking. Each question carries 3 marks, and 1 mark is deducted for every incorrectly answered question. However, there’s another type of questions that exist and these can be your saviors. They’re the Type In The Answer (TITA) category. These questions are non-MCQ type and aren’t a part of the negative marking scheme. These can usually be your source of ‘lazy marks’ especially in Verbal as they usually contain para-jumbles and grammar questions.

1. Play to your strengths

We are often advised to step out of our comfort zones while prepping for success, but in the CAT, your safety zones will get you assured marks as opposed to risks that have a higher probability of incorrect answers. You should always go for the topics that you’re most confident in before you attempt anything else, in this way, you’ve secured those marks, and then if time permits, you solve everything else. But this is in no way an advice to just study a select few topics thoroughly. Prepare everything, but know your strengths.

1. Aim HIGH!

Of course, the best institutes that you can get into on the basis of the CAT are the IIMs. But apart from those, there will be institutes native to your city or state that hold great reputations, too. Research institutes based on their cut-off scores, stream centric placements, and course curriculum. A college reputed for one course may not necessarily be the same for another. So aim accordingly.

1. Work experience isn’t just resume accessory.

Candidates that have work experience have a good chance of getting accepted into their dream institutes. That is because once you’ve got the hang of the field, the understanding and application of business management concepts gets smoother. Worry not freshers, you also have a chance at your dream institutes. Just start connecting to people who’ve been in the corporate world, keep up to date on current affairs, and try your hand at a couple of internships during your undergraduate courses if possible.

1. Scores don’t determine your admit.

PGDM requires the candidates to prove themselves via an extra set of tests that are divided into rounds of Written Ability, Group Discussion/Case Discussion, and Personal Interview. It is essential to prep yourself well for each round. Speak to alumni or current students of the institutes to know what their experiences were. Scour the internet for people’s experiences and interview questions that you can prep yourself for.

This process will require dedication and meticulousness. Keeping track of all exam and institute related news will surely help you. The exam itself is easy to conquer once you focus on practicing as much as you can. Confidence and a smart demeanor will definitely impress the admission committee. You must and should have enough faith in yourself as you set about on your journey. All the best!

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So, with Facebook feeds clogging your phone and the twitter updates  running crazy; you wonder why to download yet another app on your phone. So, let us get this straight. This is NOT YET ANOTHER app. It is STUDYPAL.CO; the new name trending on app lists!

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The  Studypal.co app is  meant for finding you a study partner; and with search filters ranging from Location, Test, Target date, Study Choices and to even Colleges and Offices; we bring to you a full proof algorithm to find the correct one for you. You can chat, connect and then look up for some study spot to meet up and get the whole party going! Test prep is not an easy journey and if you are planning on taking one, we are here to help you find a companion.