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. Methods used to describe property in Michigan






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






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






4. In heavily wooded areas where property lines may be difficult to identify - it is important that the owners protect their property from being claimed under _






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






6. The highest degree of ownership






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






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






9. Vacant land adjustments have to be made for differences in _






10. 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






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






12. _ are expenses that may be part of the capitalization rate such as depreciation and property taxes or capital improvement expenses and the owner's costs and corporation costs; also not income taxes.






13. Capped value is _

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


14. Computer assisted mass appraisal






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






16. Cost to construct an exact duplicate of the subject






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






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






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






20. _ was designed to provide for the exemption from certain taxes; to levy and collect a specific tax from the owners of properties so exempted; and to provide for the transfer of the exemption certificates; also prescribes the power and dute of the STC






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






22. The physical land and any structure attached to it






23. _ are used to value income-producing residential property






24. Two types of maps that are used in valuing agricultural land are _ maps and _ maps






25. Taxable personal property includes all property not expressly _






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






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






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






29. Radius squared times Pi (3.1416)






30. One use of land value maps is to _






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






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






33. Personal property forms must be approved by the _






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






35. Length times the width






36. Leased property is...






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






38. 1 acre =






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






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






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






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






43. When measuring a house - you use _ measurements






44. Inventory (is/is not) exempt






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






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






47. Report of Taxable Valuations Including Additions - Losses and Totals as approved by BOR;






48. Sections in a township start _






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






50. A consumer must be able to purchasee the property







Sorry!:) No result found.

Can you answer 50 questions in 15 minutes?


Let me suggest you:

Browse all subjects

Browse all tests

Most popular tests



Major Subjects

Tests & Exams


AP
CLEP
DSST
GRE
SAT
GMAT

Browse all subjects

Browse all tests

Most popular tests