Statue of Repose vs. Statue of Limitations

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12 comments

  • Avatar
    Hatefeh Raysan Ziaei

    This is from AHPP-15th edition-Page 176

    Hope this helps.

  • Avatar
    Joel Edwards

    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

  • Avatar
    Lemuel Guidos

    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.

  • Avatar
    Joel Edwards

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

  • Avatar
    Lemuel Guidos

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

  • Avatar
    Joel Edwards

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

  • Avatar
    Archit Sawhney

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

  • Avatar
    Joel Edwards (Edited )

    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.

  • Avatar
    Archit Sawhney

    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?

  • Avatar
    Joel Edwards

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

  • Avatar
    Lemuel Guidos

    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

  • Avatar
    Archit Sawhney

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

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