Question 1

Which of the following types of Regulations has the highest tax validity?

Accepted Answer

A)  Temporary.
B)  Legislative.
C)  Interpretive.
D)  Procedural.
E)  None of the above.F) A) and E)
G) All of the above

Question 2

A taxpayer can obtain a jury trial in the U.S.Tax Court.

Accepted Answer

A) True 
 B)False

Question 3

A taxpayer may not appeal a case from which court:

Accepted Answer

A)  U.S.District Court.
B)  U.S.Circuit Court of Appeals.
C)  U.S.Court of Federal Claims.
D)  Small Case Division of the U.S.Tax Court.
E)  None of the above.F) A) and B)
G) A) and D)

Question 4

Temporary Regulations are only published in the Internal Revenue Bulletin

Accepted Answer

A) True 
 B)False

Question 5

How do treaties fit within tax sources?

Accepted Answer

The U.S signs certain tax treaties (some...

Question 6

In § 212(1) ,the number (1) stands for the:

Accepted Answer

A)  Section number.
B)  Subsection number.
C)  Paragraph designation.
D)  Subparagraph designation.
E)  None of the above.F) B) and C)
G) A) and E)

Question 7

What statement is not true with respect to Temporary Regulations?

Accepted Answer

A)  May not be cited as precedent.
B)  Issued as Proposed Regulations.
C)  Automatically expire within three years after the date of issuance.
D)  Found in the Federal Register.
E)  All of the above statements are true.F) B) and D)
G) C) and D)

Question 8

Which statement is incorrect with respect to taxation on the CPA exam?

Accepted Answer

A)  The CPA exam now has only four parts.
B)  There are no longer case studies on the exam.
C)  A candidate may not go back after exiting a testlet.
D)  Simulations include a four-function pop-up calculator.
E)  None of the above are incorrect.F) None of the above
G) D) and E)

Question 9

Technical Advice Memoranda deal with completed transactions.

Accepted Answer

A) True 
 B)False

Question 10

Which items tell taxpayers the IRS's reaction to certain court decisions?

Accepted Answer

A)  Notices.
B)  Revenue Procedures.
C)  Revenue Rulings.
D)  Actions on Decisions.
E)  Legislative Regulations.F) A) and B)
G) D) and E)

Question 11

A U.S.District Court is the lowest trial court.

Accepted Answer

A) True 
 B)False

Question 12

A tax professional need not worry about the relative weight of authority within the various tax law sources.

Accepted Answer

A) True 
 B)False

Question 13

Texas is in the jurisdiction of the Second Circuit Court of Appeals.

Accepted Answer

A) True 
 B)False

Question 14

Which court decision would probably carry more weight?

Accepted Answer

A)  Regular U.S.Tax Court decision.
B)  Reviewed U.S.Tax Court decision.
C)  U.S.District Court decision.
D)  Memorandum Tax Court decision.
E)  U.S.Court of Federal Claims.F) A) and D)
G) B) and E)

Question 15

The Regulation section of the CPA exam is 60% Taxation and 40% Law & Professional Responsibilities.

Accepted Answer

A) True 
 B)False

Question 16

The Code section citation is incorrect: § 212(1).

Accepted Answer

A) True 
 B)False

Question 17

A letter ruling applies only to the taxpayer who asks for and obtains a letter ruling.

Accepted Answer

A) True 
 B)False

Question 18

A jury trial is available in the following trial court:

Accepted Answer

A)  U.S.Tax Court.
B)  U.S.Court of Federal Claims.
C)  U.S.District Court.
D)  U.S.Circuit Court of Appeals.
E)  None of the above.F) A) and E)
G) A) and C)

Question 19

Which Regulations have the force and effect of law?

Accepted Answer

A)  Procedural Regulations.
B)  Finalized Regulations.
C)  Legislative Regulations.
D)  Interpretive Regulations.
E)  All of the above.F) C) and E)
G) None of the above

Question 20

The Golsen rule has been overturned by the U.S.Supreme Court.

Accepted Answer

A) True 
 B)False

Exam 2: Working With the Tax Law

A letter ruling applies only to the taxpayer who asks for and obtains a letter ruling.

Correct AnswerverifiedShow Answer

The Code section citation is incorrect: § 212(1).

Correct AnswerverifiedShow Answer

Which Regulations have the force and effect of law?

Correct AnswerverifiedShow Answer

Which items tell taxpayers the IRS's reaction to certain court decisions?

Correct AnswerverifiedShow Answer

A taxpayer can obtain a jury trial in the U.S.Tax Court.

Correct AnswerverifiedShow Answer

The Golsen rule has been overturned by the U.S.Supreme Court.

Correct AnswerverifiedShow Answer

A jury trial is available in the following trial court:

Correct AnswerverifiedShow Answer

A tax professional need not worry about the relative weight of authority within the various tax law sources.

Correct AnswerverifiedShow Answer

Technical Advice Memoranda deal with completed transactions.

Correct AnswerverifiedShow Answer

The Regulation section of the CPA exam is 60% Taxation and 40% Law & Professional Responsibilities.

Correct AnswerverifiedShow Answer

Temporary Regulations are only published in the Internal Revenue Bulletin

Correct AnswerverifiedShow Answer

What statement is not true with respect to Temporary Regulations?

Correct AnswerverifiedShow Answer

In § 212(1) ,the number (1) stands for the:

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Which statement is incorrect with respect to taxation on the CPA exam?

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How do treaties fit within tax sources?

Correct AnswerverifiedThe U.S signs certain tax treaties (some...View AnswerShow Answer

Which court decision would probably carry more weight?

Correct AnswerverifiedShow Answer

A taxpayer may not appeal a case from which court:

Correct AnswerverifiedShow Answer

Which of the following types of Regulations has the highest tax validity?

Correct AnswerverifiedShow Answer

A U.S.District Court is the lowest trial court.

Correct AnswerverifiedShow Answer

Texas is in the jurisdiction of the Second Circuit Court of Appeals.

Correct AnswerverifiedShow Answer

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The U.S signs certain tax treaties (some...
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