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 definition of the economic principle of highest and best use is _






2. The _ determines the size for rates






3. The Commercial Forest Act permits an owner to put property into a program that permits payment of a _ in lieu of the ad valorem rates






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






5. Cost to construct an exact duplicate of the subject






6. _ is estimating the cost of a building of similar design and utility






7. A platted subdivision is described by _






8. The formula for calculating tax bills is _






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






10. Assessor Affidavit Regarding 'Uncapping' of Taxable Value; used when it is discovered that a property value should have been uncapped but wasn't






11. 16 1/2 feet =






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






13. A consumer must want the product for it to have value






14. Taxable personal property includes all property not expressly _






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






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






17. Report of Assessment Roll Changes and Classification; includes assessed values of all eleven classes of property






18. Sections in a township start _






19. 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 _






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






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






22. Equity within the county is the responsibility of the _






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






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






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






26. 1 mile =






27. 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






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






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






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






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






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






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






34. The value property has in a specific use






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






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






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






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






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






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






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






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






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






44. Approved by voters in 1978






45. Deadline for filing personal property statements






46. The formula for calculating value is _






47. Methods used to describe property in Michigan






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






49. The BOR _ and _ the roll






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