Statue of Repose vs. Statue of Limitations

January 17, 2019 17:20

Please explain the difference between the Statue of Repose and Statue of Limitations.The reason I ask is because my study materials are giving me conflicting information. I would like one of the moderators from NCARB to explain how NCARB defines them and to give examples.

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13 comments

Hatefeh Raysan Ziaei January 17, 2019 19:44

This is from AHPP-15th edition-Page 176

Hope this helps.

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Joel Edwards February 01, 2019 04:16

Statute of Repose specifies a time period that a party is allowed to discover a problem with service received.

Statute of Limitation specifies a time period that a party is given to determine if a claim is to be made after the problem is discovered with a service received.

This lecture does a pretty good job explaining the difference between the two.

https://www.schiffhardin.com/Templates/media/files/Hanahan%20Lecture%20Notes/Hanahan%20Sound%20Clips/2nd%20Lecture%20-%20Contract%20Law%20%26%20Formation%20(2018).MP3

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Lemuel Guidos February 04, 2019 04:04

I’ve been confused in this before, I’ve been told that the Ballast book has it backwards and I’m not sure where I heard that AHPP had it backwards also. Joel, you are contradicting what AHPP if I’m not mistaken.

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Joel Edwards February 04, 2019 04:25

The photo Hatefeh posted in the comments is from the AHPP. It follows the same logic as my previous comment.

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Lemuel Guidos February 04, 2019 04:28

Oh you’re right. Sorry I’ve been reading contracts all day lol.

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Joel Edwards February 04, 2019 04:30

Me too! I'm going cross eyed. Taking my first test (PcM) on Tuesday....

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Archit Sawhney February 07, 2019 02:33

Joel, how did it go? I am taking it this weekend. Any last minute tips/advice?

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Joel Edwards February 07, 2019 03:29 (Edited February 07, 2019 03:35)

I have not received the official response yet, but the exam said I most likely passed after I finished.

I was thoroughly surprised how well the Schiff Hardin Professional Practice lectures explained many of the topics covered on the exam. Some of the comments and examples he gives actually helped answer a few questions for me (assuming they were the correct answer). I downloaded all of his 2018 lectures and queued them up on my iPhone podcast player and listened to them while traveling to and from work, walking the dog, or cleaning up around the house.
https://www.schiffhardin.com/professionals/attorneys/d-i/hanahan-michael-j/hanahan-lecture-notes-2018

Make sure you have a good understanding of the different business structure types and the pro's and cons of each one.
This website explains really well. https://joshkieb.com/are-5-0-business-organization/

The Designer Hacks premium mock exams helped get my confidence up on taking a test in under 2.5 hours. However, you will most definitely find yourself using the entire amount of time on the real exam. I also found the DH exam questions useful for learning PcM topics quickly.

The Architect's Handbook of Professional Practice provides a wealth of knowledge but it is hard to push yourself to read the whole book effectively and retain the information. I would suggest studying lighter material (like DH and Kaplan books) and then referring to the AHPP sections to read about the topic in more detail. Kevin Griendling's AHPP study guide outline is also helpful in pointing out sections to focus your reading.
https://drive.google.com/file/d/0B4BvCc3nt7PsNFVialI2WFJWNVU/view

I found the practice questions at the end of each Kaplan Brightwood PcM chapter to be the best representation of how the real questions are conveyed.

Quizlet has an over abundance of study material that everyone continues to compile on the website. It is very easy to search "PcM" and pick, choose, copy, the flash cards you want into your own personal study set to review on your phone or computer any time of the day.

I also took full advantage of the test's calculator feature. Don't forget it's available to you.

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Archit Sawhney February 07, 2019 14:20

Congrats Joel! Passing the first test is the best feeling. This will be by third test- took CE first, then PjM and now PcM. All of the two weeks apart. Have you checked in your MyNcarb exams tab yet? They usually post the score within a few hours if not by the next morning of the exam. Although the official email can take a few more days.

For some reason your comment is not showing up on the thread but thank you for taking the time to share your thoughts and recommendations- very helpful! A follow up question would be about the questions that you had to use the calculator on. What topics did those touch on? So to brush up on those relevant formulas before the test. I took the Brightwood chapter practice problems as well and the Ballast practice exam but neither of them had many math/calculating questions unfortunately. Were these questions a significant percentage of the exam?

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Joel Edwards February 07, 2019 15:25

Make sure you have a good understanding of everything provided in AHPP section 7.2 Financial Management Overview.

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Lemuel Guidos February 09, 2019 02:15

Ok so I know I wasn’t going crazy. See page 1091 in AHPP. It contradicts that page above. Also the link to this agrees that repose starts from substantial completion and limitations from when it was discovered.
https://are5community.ncarb.org/hc/en-us/community/posts/115000789908-Statute-of-Limitations-vs-Statute-of-Repose?mobile_site=true

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Archit Sawhney February 09, 2019 14:08

Here is a video explaining the concept https://www.youtube.com/watch?v=c0S_LHMAMMo

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Guillermo Perez July 05, 2019 17:04

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