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. A consumer must be able to purchasee the property






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






3. May change assessment for current year






4. March Board of Review begins






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






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






7. Cost to construct an exact duplicate of the subject






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






9. Personal property may be _






10. The highest degree of ownership






11. Taxable unless specifically exempted






12. The three approaches to value






13. _ are those expenses necessary for generating income. This includes reserves for replacements - accounting fees - advertising costs - maintenance costs such as lawn care - snow removal - repairs - trash removal - utilities - and a maintenance manager






14. The BOR _ and _ the roll






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






16. _ is a loss in value caused by factors outside the property






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






18. Monday December Board of Review begins






19. Most taxpayers must appeal to the local _ before appealing to the _






20. 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 _






21. The most common types of ownership are _






22. Proposal A had the immediate result of _ property taxes in the state






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






24. Unknown dimension formula






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






26. 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






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






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






29. You verify a sale _






30. Michigan's Constitution provides for _ of taxation






31. Market value of property is _






32. The formula for calculating income is _






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






34. _ is a loss of utility and therefore of value from any cause






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






36. A report of Real and Personal Property Taxable Valuations prepared by county equalization; submitted to STC by fourth Monday in April






37. The _ to value is best used for mass appraisals being done by the assessor.






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






39. There are _ in a geographical township






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






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






42. 16 1/2 feet =






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






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






45. In July and December - the BOR may meet to _






46. Inventory (is/is not) exempt






47. Ordinance established the laws that cover Michigan - Ohio - Indiana - Illinois - and Wisconsin






48. Deadline for filing Principal Residence Affidavits






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






50. Sections in a township start _