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. _ is estimating the cost of an exact duplication of the building

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

3. Definition of ad valorem

4. The formula for calculating rate is _

5. Sections in a township start _

6. The usual reference source regarding assessment and taxes

7. You verify a sale _

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

9. IFT's affect only the building value...

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

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

12. CAMA system should estimate replacement cost new less depreciation in the _ approach

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

14. A consumer must be able to purchasee the property

15. _ is the rent actually received for a property

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

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

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

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

20. Leased property is...

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

22. If there is a 40-acre parcel and all but the land surrounding the house is wooded - this property should be classified by _

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

24. Value is determined by _

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

26. The most common types of ownership are _

27. Radius squared times Pi (3.1416)

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

29. The CAMA system should be able to select comparable sales - make adjustments to the comps - and come up with an estimate of market value for the subject in the _ approach

30. Not transfers of ownership

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

32. The three categories of depreciation are _

33. _ is estimating the cost of a building of similar design and utility

34. Length times the width

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

36. Tax day

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

38. Cost to construct an exact duplicate of the subject

39. 16 1/2 feet =

40. The value of vacant land is estimated using _

41. Michigan Tax Tribunal Appeals of special assessments are first appealed to the _ or _ and then to the _

42. 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?

43. 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 _

44. Market value of property is _

45. The formula for calculating tax bills is _

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

47. 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

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

49. Personal property may be _

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