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






2. 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?






3. The amount of money or goods you can receive if you sell property






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






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






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






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






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






9. Taxable unless specifically exempted






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






11. _ are applied to the cost schedules in the manuals






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






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






14. Number of acres in the E 1/2 of the W 1/2 of hte NW 1/4






15. Deadline for filing personal property statements






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






17. In heavily wooded areas where property lines may be difficult to identify - it is important that the owners protect their property from being claimed under _






18. Buildings on leased lands _ personal property






19. Length times the width






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






21. The definition of the economic principle of highest and best use is _






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






23. The highest degree of ownership






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






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






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






27. Movable irrigation systems including pumps not an integral part of a well are _ and are _






28. When measuring a house - you use _ measurements






29. A private claim describes property that was occupied prior to the _






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






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






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






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






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






35. Potential income minus vacancy - bad debt - and operating expenses is the _






36. Enacted in 1893






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






38. Capped value is _

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






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






41. Tax day






42. Computer assisted mass appraisal






43. A consumer must be able to purchasee the property






44. Approved by voters in 1978






45. True cash value is _






46. 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






47. IFT's affect only the building value...






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






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






50. The definition of market value is _







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Can you answer 50 questions in 15 minutes?


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