Test your basic knowledge |

MCAO: Michigan Certified Assessing Officer

Subject : certifications
Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. The three approaches to value






2. _ is used to adjust the cosst approach to market value for residential properties






3. The three categories of depreciation are _






4. Sections in a township start _






5. The Tuesday following the third Monday in _ is the _ meeting.






6. Monday December Board of Review begins






7. Michigan's Constitution uses _ to determine assessments






8. Enacted in 1893






9. _ do not include property taxes - depreciation - debt retirement - or interest earned on the funds invested in the property






10. Michigan's Constitution provides for _ of taxation






11. The _ determines the size for rates






12. The market rent times the number of units availabe to rent is _






13. Personal property statements (are/are not) available to the public under the Freedom of Information Act.






14. Notices of the decisions of the BOR must be mailed by the _






15. IFT certificates are granted for _ years with a possible 2-year construction period






16. Members of the Board of Review must be _ of the township






17. Approved by voters in 1978






18. Management costs in timber-cutover include _ which are usually the largest expense in this classification






19. It is necessary to have an evening meeting unless the residents...






20. The value property has in a specific use






21. 16 1/2 feet =






22. Inventory (is/is not) exempt






23. The CAMA system should be able to calculate the valuation of properties by direct capitalization in the _ approach






24. If the interest rate is 5% - the effective tax rate is 2% - the recapture rate is 2.5% - and the income attributed to the building is $40 -000. The value of the building is _






25. The formula for using a gross rent multiplier to determine market value is _






26. Cost to construct improvement with the same functional utility of the subject






27. The right to use - occupy - and control a property for the length of the lessee's life






28. There are _ in a section






29. Special assessments are not levied on all real and personal property that...






30. The Assessor or Equalization Director's Notice of Property Incorrectly Reported or Omitted from Assessment Roll; filed with STC when omitted property is discovered






31. 1 mile =






32. The physical land and any structure attached to it






33. When appraising a commercial building - you should remember that unlike building - land is...






34. Pole barns - silos - and large grain bins are considered _






35. The rights of ownership (bundle of rights) enjoyed by the owner of real estate






36. Compares the property beign appraised to similar properties that have recently sold






37. A report of Real and Personal Property totals prepared by the county equalization department; submitted to STC by the third Monday in April






38. It (is not necessary to use __________ when valuing agricultural property.






39. Property Transfer Affidavit; must be filed by purchaser within 45 days of transfer






40. Public rights-of-way are _






41. Convened to correct clerical errors - mutual mistakes of fact or qualified errors






42. The three principal steps in the cost approach are _






43. Methods used to describe property in Michigan






44. Special assessment districts are commonly used for _






45. Notice of special assessment public hearings must be given to _






46. The value of vacant land is estimated using _






47. The capitalization rate includes the _ - _ and the _






48. Leased property is...






49. _ are those expenses necessary for generating income. This includes reserves for replacements - accounting fees - advertising costs - maintenance costs such as lawn care - snow removal - repairs - trash removal - utilities - and a maintenance manager






50. The government is authorized to levy taxes in the _







Sorry!:) No result found.

Can you answer 50 questions in 15 minutes?


Let me suggest you:

Browse all subjects

Browse all tests

Most popular tests



Major Subjects

Tests & Exams


AP
CLEP
DSST
GRE
SAT
GMAT

Browse all subjects

Browse all tests

Most popular tests