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. True cash value is _






2. Special assessments must _ the properties in the district






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






4. The most common types of ownership are _






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






6. Computer assisted mass appraisal






7. The income approach calculates the _ of a future income stream






8. Length times the width






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






10. Usually valuing farmland is done by the _ for the land values and the _ for the buildings.






11. The formula for calculating value is _






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






13. Enacted in 1893






14. 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






15. You verify a sale _






16. 1 acre =






17. To calculate a gross rent multiplier - _






18. March Board of Review begins






19. If a business fails to file a personal property statement - the assessor shall _






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






21. The difference between commercial and industrial property is _






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






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






24. Michigan's Constitution uses _ to determine assessments






25. _ 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.






26. Personal property may be _






27. Net income is _ minus _






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






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






30. All meetings of the BOR are governed by the _






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






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






33. The Board of Review was created by the _ of 1893






34. is the rent a property could command on the open market






35. Report of Taxable Valuations Including Additions - Losses and Totals as approved by BOR;






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






37. Initial survey point for Michigan at the intersection of two streets






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






39. Personal property statemetns are due on _






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






41. The value property has in a specific use






42. The usual reference source regarding assessment and taxes






43. Radius squared times Pi (3.1416)






44. Sections in a township start _






45. Value is determined by _






46. _ soil is considered the most productive






47. Michigan Tax Tribunal Appeals of special assessments are first appealed to the _ or _ and then to the _






48. The three approaches to value






49. The discount rate may be developed by the following:






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







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