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. March Board of Review begins






2. True cash value is _






3. Used to value the income stream of a property






4. There are _ in a section






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






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






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






8. A report of Real and Personal Property totals prepared by the county equalization department; submitted to STC by the third Monday in April






9. Capped value is _

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






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






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






13. Value is determined by _






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






15. 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 _






16. Deadline for filing Principal Residence Affidavits






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






18. _ 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.






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






20. If the Board of Review or Michigan Tax Tribunal changes the assessed - equalized - or taxable value - that value is used as the _






21. The definition of market value is _






22. In a cost approach program - the computer system should estimate _ less _






23. Compares the property beign appraised to similar properties that have recently sold






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






25. Public rights-of-way are _






26. The formula for calculating income is _






27. The most common types of ownership are _






28. The _ must approve the application for an IFT before the State Tax Commission approves the application






29. Half the base times the height






30. A platted subdivision is described by _






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






32. July Board of Review begins






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






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






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






36. Michigan's Constitution uses _ to determine assessments






37. The formula for calculating value is _






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






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






40. Monday December Board of Review begins






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






42. Churches - schools - libraries and similar institutions are usually...






43. Tax day






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






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






46. When measuring a house - you use _ measurements






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






48. Unknown dimension formula






49. Computer assisted mass appraisal






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