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






2. When measuring a house - you use _ measurements






3. The definition of market value is _






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






5. Not transfers of ownership






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






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






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






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






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






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






12. True cash value is _






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






14. A platted subdivision is described by _






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






16. You verify a sale _






17. Equity within the 83 counties of the state is the responsibility of the _






18. The Commercial Forest Act permits an owner to put property into a program that permits payment of a _ in lieu of the ad valorem rates






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






20. Half the base times the height






21. The value of vacant land is estimated using _






22. Market value of property is _






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






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






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






26. 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 _






27. The capitalization rate includes the _ - _ and the _






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






29. Net income is _ minus _






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






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






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






33. The rights of ownership removed by government are _






34. Buildings on leased lands _ personal property






35. Special assessments must _ the properties in the district






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






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






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






39. Michigan's Constitution uses _ to determine assessments






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






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






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






43. The most common types of ownership are _






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






45. A consumer must be able to purchasee the property






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






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






48. Monday December Board of Review begins






49. Methods used to describe property in Michigan






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







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