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. _ soil is considered the most productive






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






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






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






5. There are _ in a section






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






7. 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?






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






10. Deadline for filing Principal Residence Affidavits






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






12. The formula for calculating value is _






13. March Board of Review begins






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






15. The estimated potential gross income less allowances for vacancy and rent loss plus other income or miscellaneous income is _






16. Notices of the decisions of the BOR must be mailed by the _






17. Personal property may be _






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






19. The most common types of ownership are _






20. The formula for calculating tax bills is _






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






22. A consumer must be able to purchasee the property






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






24. The _ determines the size for rates






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






26. Radius squared times Pi (3.1416)






27. Computer assisted mass appraisal






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






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






30. Formula used to calculate taxes is _






31. The three approaches to value






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






33. The Tuesday following the third Monday in _ is the _ meeting.






34. Sections in a township start _






35. 1 acre =






36. Inventory (is/is not) exempt






37. The formula for calculating rate is _






38. - restrictions (zoneing - etc.) - and improvements on the site When valuing property - the assessor should consider _






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






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






41. The value property has in a specific use






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






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






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






45. Unknown dimension formula






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






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






48. Analysis for Equalized Valuation prepared by the county equalization department; submitted to the STC by the third Monday in April






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






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