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. The value of vacant land is estimated using _






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






3. Cost to construct an exact duplicate of the subject






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






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






6. The BOR _ and _ the roll






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






8. Deadline for filing Principal Residence Affidavits






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






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






11. Michigan's Constitution provides for _ of taxation






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






13. Radius squared times Pi (3.1416)






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






15. There are _ in a geographical township






16. The rights of ownership removed by government are _






17. July Board of Review begins






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






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






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






21. The three approaches to value






22. A platted subdivision is described by _






23. The return on the investment called in the capitalization rate is _






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






25. Capped value is _


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






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






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






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






30. Taxable unless specifically exempted






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






32. In a residential neighborhood - the measurement usually used in developing cost is _






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






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






35. _ 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






36. Personal property may be _






37. The value property has in a specific use






38. The formula for calculating value is _






39. Methods used to describe property in Michigan






40. A depth factor chart is used to adjust lots that are _






41. One use of land value maps is to _






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






43. 16 1/2 feet =






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






45. The _ determines the size for rates






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






47. Economic condition factors (are/are not) applied to land and buildings






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






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






50. 1 mile =