Test your basic knowledge |

MCAO: Michigan Certified Assessing Officer

Subject : certifications
  • 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. Unknown dimension formula

2. You verify a sale _

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

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

5. Personal property may be _

6. The second meeting of the BOR is held to _

7. Analysis for Equalized Valuation prepared by the county equalization department; submitted to the STC by the third Monday in April

8. The formula for calculating tax bills is _

9. Tax day

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

11. _ is estimating the cost of an exact duplication of the building

12. The physical land and any structure attached to it

13. _ was designed to provide for the exemption from certain taxes; to levy and collect a specific tax from the owners of properties so exempted; and to provide for the transfer of the exemption certificates; also prescribes the power and dute of the STC

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

15. In a township - the _ is the secretary of the Board of Review

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

17. May change assessment for current year

18. Computer assisted mass appraisal

19. Sections in a township start _

20. Equity at the local level is the responsibility of the _

21. _ includes the discount rate - recapture rate - and the effective rate.

22. Leased property is...

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

24. 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

25. A platted subdivision is described by _

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

27. The cost approach is used to estimate _ of an _

28. In a residential neighborhood - the measurement usually used in developing cost is _

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

30. Length times the width

31. Used to value the income stream of a property

32. _ measures value in exchange; it is based on the principle of substitution

33. Deadline for filing personal property statements

34. The BOR _ and _ the roll

35. The formula for calculating value is _

36. Used to estimate the cost of constructing improvements to the land

37. Article 9 of the Michigan Constitution provides for uniform property taxation which may not exceed _ of true cash value which is defined as being the _

38. The three approaches to value

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

40. Michigan's Constitution uses _ to determine assessments

41. Economic condition factors (are/are not) applied to land and buildings

42. The formula for calculating rate is _

43. The government retains the following powers

44. Monday December Board of Review begins

45. Public rights-of-way are _

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

47. - restrictions (zoneing - etc.) - and improvements on the site When valuing property - the assessor should consider _

48. CAMA system should estimate replacement cost new less depreciation in the _ approach

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

50. Enacted in 1893