.... Greetings!
This is in response to a post by, Myron Ledvina, an NSA member, who like me, is a non-licensed, non-credentialed, tax pro. I assured Myron I would provide him feedback regarding my experience from having taken the RTRP exam.
Without any preparation or review (strictly as I was), on August 30, at 7 PM, I arrived at the Sylvan Prometrics testing center to engage in the RTRP exam. Within 3 min. I was engaged in the RTRP exam process. I spent the first 10 min. reviewing how to use a mouse and other screen maneuvering techniques (I did not want to miss anything). For the next 75 min. I engaged in answering the 120 question battery. I "marked" 12 questions for review, as the instructions for Form 1040 and Pub 17 were available, as open-book. I changed two of the 12 answers I had originally logged for review. I then took 5 min. to respond to the survey, at the end.
The only real unknowns, for a tax pro of 25 years (unlicensed and uncredentialed), were the ones specific to the penalties exacted to RTRP's (however, I would assume they would apply to CPAs, EA's and attorneys, as well). For example: What is the penalty to an RTRP for failing to provide a signed copy of a taxpayer's tax return, prepared for pay, by the tax preparer, to the taxpayer - $25, $50, $100, $250?
I would encourage anyone required to take the RTRP exam, to review the new circular 230, or to take a free battery of questions, relative to that publication, ahead of the exam - such as those found at
www.fastforwardacademy.com .
My registration fee for taking the exam was $116, with the possibility of having to pay an additional $35 to retake the test. The total question bank is valued at 500 points and you need a 70% success ratio to pass. You get a certificate at the end, embossed with a seal, for having successfully completing the exam. It merely states that you passed, within the range of 350 to 500 points. Not something I care to frame and put on my wall, but I certainly intend to utilize the RTRP designation, as a professional, going forward.
Best success to you all - those wanting or needing to take the test...........
Jerry Gintz