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






2. Inventory (is/is not) exempt






3. _ 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






4. The government is authorized to levy taxes in the _






5. _ 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






6. Computer assisted mass appraisal






7. The cost approach is used to estimate _ of an _






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






9. The formula for using a gross rent multiplier to determine market value is _






10. Enacted in 1893






11. Personal property statemetns are due on _






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






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






14. The formula for calculating value is _






15. It is necessary to have an evening meeting unless the residents...






16. 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 _






17. A limits the maximum amount of ad valorem taxes that may be levied for school district operating purposes. The change this maximum requires a vote of _ of the legislature to approve.






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






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






20. The value of vacant land is estimated using _






21. The _ determines the size for rates






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






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






24. Value is determined by _






25. Depreciation in the assessing process is expressed as a _






26. 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?






27. Who may ask for establishment of an industrial facility tax exemption district?






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






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






30. It (is not necessary to use __________ when valuing agricultural property.






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






32. _ 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.






33. Michigan's Constitution provides for _ of taxation






34. May change assessment for current year






35. The March Board of Review may change assessments - exemptions - and classification property. What additional authority were they given by Proposal A?






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






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






38. Formula used to calculate taxes is _






39. Buildings on leased lands _ personal property






40. The General Property Tax Law states that agricultural operations means farming in all its _






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






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






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






44. Deadline for filing Principal Residence Affidavits






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






46. The three approaches to value






47. Radius squared times Pi (3.1416)






48. A platted subdivision is described by _






49. The government retains the following powers






50. Sections in a township start _






Can you answer 50 questions in 15 minutes?



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