Test your basic knowledge |

MCAO: Michigan Certified Assessing Officer

Subject : certifications
  • 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 Board of Review was created by the _ of 1893

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

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

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

5. A platted subdivision is described by _

6. The government retains the following powers

7. Unknown dimension formula

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

9. March Board of Review begins

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

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

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

13. There are _ in a section

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

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

16. The first meeting of the BOR is held on the _

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

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

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

20. Length times the width

21. A limits the maximum amount of ad valorem taxes that may be levied for school district operating purposes. The change this maximum requires a vote of _ of the legislature to approve.

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

23. If the interest rate is 5% - the effective tax rate is 2% - the recapture rate is 2.5% - and the income attributed to the building is $40 -000. The value of the building is _

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

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

26. The definition of market value is _

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

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

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

30. Computer assisted mass appraisal

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

32. To calculate a gross rent multiplier - _

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

34. Michigan's Constitution provides for _ of taxation

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

36. Methods used to describe property in Michigan

37. Used to value the income stream of a property

38. The cost approach is used to estimate _ of an _

39. _ includes the discount rate - recapture rate - and the effective rate.

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

41. The highest degree of ownership

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

43. The difference between commercial and industrial property is _

44. Capped value is _

45. There are _ in a geographical township

46. The formula for calculating tax bills is _

47. Special assessments must _ the properties in the district

48. Value is determined by _

49. Special assessment districts are commonly used for _

50. When measuring a house - you use _ measurements