I just got back from taking my second section of the CPA Exam (Regulation) and I realize now just how much strategy is needed to do well on the CPA Exam.
What worked for me:
Time it out
Utilize your resources
Take advantage of others experience
I barely was able to finish the REG section in time but the one thing that really helped me was making sure I really used my time wisely. I know you only have 3 hours for the REG section so I tried to make sure I finished each 24 question multiple choice section in 35-40 minutes so that I would have an hour to an hour and 15 minutes left for the simulations. Each exam is a little different but my simulations for this section required more time than when I took FAR so I am happy I had just enough time to finish it. Another thing that really worked well for me was simply talking to people before I went into the testing room. I was able to gather strategies from people who had previously taken my session and here what they struggled with and how they did overall on the exam.
The best piece taking this exam was utilizing the research tab on the simulations to help you answer any questions you may have. It may not answer every question or be the most efficent method but it saved me today. I wasn’t sure whether broker fees were deductable or usable in the computation for basis for stock and was able to search and find the rule. I always get to the exam center a little early so I can quick cram the vital formulas and facts one more time before the exam. Luckily everyone was in a chatty mood today and I was able to take some recommendations from them, do better on the exam and pass them on.