You can think of the regulation (REG) test as having two parts. One part covers business law issues, including rules on selecting a business structure. The second part of the test goes over taxation. This test is technically the most difficult. It requires you to know and apply many rules, facts and figures. You may find that the REG questions require more focus than other types of questions. Here are some tips for understanding the info on this test:
Considering your business law courses: A good portion of the REG test involves topics covered in a business law class. This includes agency and contract law as well as sales law. If you’ve had a business law class, you may have a leg up in learning this material. Some of the law topics may be familiar to you.
Pulling out tax forms: Some students see the taxation portion of the REG test as a long list of rules, with very little connection between the rules. These students can’t visualize how all the facts fit together. One great way to connect tax information is to print and review the tax forms themselves. To study for personal taxation, take a look at where the information is posted on Form 1040, the individual tax return.
