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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. Monday December Board of Review begins






2. The middle of a ratio study where the ratios are ranked from lowest to highest or highest to lowest






3. Special assessment districts are commonly used for _






4. - The Building Residual - and the Direct Capitalization Capitalization techniques include the following:






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






6. May change assessment for current year






7. Cost to construct an exact duplicate of the subject






8. Effective gross income is the estimated _ less _ for _ and _ plus other _ or _






9. The CAMA system should be able to select comparable sales - make adjustments to the comps - and come up with an estimate of market value for the subject in the _ approach






10. A depth factor chart is used to adjust lots that are _






11. Tax day






12. Two types of maps that are used in valuing agricultural land are _ maps and _ maps






13. A platted subdivision is described by _






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






15. The Private Forest Reserve Act specifies that the property in the reserve be assessed on the ad valorem at _






16. Depreciation in the assessing process is expressed as a _






17. 1 mile =






18. The government retains the following powers






19. Deadline for filing personal property statements






20. Accurate _ and _ are necessary because assessments are only as accurate as the data used to calculate them






21. _ are expenses that may be part of the capitalization rate such as depreciation and property taxes or capital improvement expenses and the owner's costs and corporation costs; also not income taxes.






22. The formula for calculating tax bills is _






23. If the subject property has a fireplace and air-conditioning and the comp has only air-conditioning - what adjustment would be made to what property?






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






25. Special assessments must _ the properties in the district






26. In a cost approach program - the computer system should estimate _ less _






27. A consumer must be able to purchasee the property






28. Churches - schools - libraries and similar institutions are usually...






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






30. Net income is _ minus _






31. Capped value is _

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32. Applications for IFT districts must be received by the State Tax Commission by _ to be acted on for the following year






33. Half the base times the height






34. The physical land and any structure attached to it






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






36. There are _ in a section






37. 16 1/2 feet =






38. If a property owner has an agricultural use on 1/2 their property - they may designate a specific number of wooded acres as _






39. The four basic steps in the sales comparison approach is _






40. Inventory (is/is not) exempt






41. Public rights-of-way are _






42. The three approaches to value






43. True cash value is _






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






45. The March Board of Review may change assessments - exemptions - and classification property. What additional authority were they given by Proposal A?






46. The _ determines the size for rates






47. _ is the rent actually received for a property






48. You verify a sale _






49. A limits the maximum amount of ad valorem taxes that may be levied for school district operating purposes. The change this maximum requires a vote of _ of the legislature to approve.






50. Radius squared times Pi (3.1416)







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Can you answer 50 questions in 15 minutes?


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