California Baptist University
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- NURS 222/NURS222MH Final Exam Study Guide NURS 222/NURS222MH Final Exam Study Guide 1
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- NURSING 255 Community Health Nursing Exam #1 1
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- NURSING 556 NURSING 556 3
Latest notes & summaries California Baptist University
The basic responsibilities of the assessor are to ___________________ all taxable property 
Discover, List, and Value 
 
One of the steps an assessor must take in the discovery of property is to Conduct periodic onsite inspections of properties 
 
The property tax is a/an _____________________ tax, meaning it is based on value. Ad 
Valorem
Anticipation Value is created by the expectation of benefits to be derived in the future 
 
Substitution the prices, rents, and rates of return of property tend to be set by the current 
prices, rents and rates of return for equally desire able substitute properties. 
 
Contribution the value of a component of real estate can be measured by the amount it 
contributes to net operating income because net operating income can be capitalized into value.
Surplus Produtivity Allows us to capitalize land income into an indication of value 
 
Return ON Overall Yield or Discount 
 
Return OF Wasting Asset or Recapture 
 
Leverage The borrowing of funds in hopes of earning a greater return than the cost of the 
borrowed funds
Land An immovable and indestructible three-dimensional area consisting of a portion of the 
earth's surface, the space above and below the surface, and everything growing on or 
permanently affixed to it. 
 
Five Attributes of Land "PUFFS" 
Permanent 
Unique 
Finite Supply 
Functional 
Stationary 
 
Four Value Characteristics of Land "DUST" 
Demand 
Utility 
Scarcity 
Transferability 
 
Raw Land is in its natural state, prior to grading, construction, and subdividing. It is 
UNDEVELOPED,...
Hybrid or generic models are reflective of which approach to value? Cost Approach 
 
What type of model is the following formula? MV=GQ x ((PL x SIZE)+(PB x SIZE)) 
Simple Hybrid (Generic) Cost Model 
 
What should a reappraisal start and end with? Ratio Report 
 
A "Yes/No" indicates what type of variable? Binary variable 
 
USPAP Standard 6 covers which type of appraisal? Mass Appraisal
What is a requirement of both single-property and mass appraisal? Uses three basic 
approaches to value 
 
What is the first step in the mass appraisal process? definition of the problem 
 
List the three types of data that must be collected in analyzing the market. General data 
Specific data 
Comparative data
A property assessment system organizes resources to carry out the primary assessment 
responsibilities of _______, _________, and __________ properties, in accordance with 
property tax laws and regulations. discovery 
listing 
valuing 
 
Standards of practice are necessary to ensure: Appraisal accuracy 
Work is finished on time 
Staff and resources are used wisely 
All of the above 
 
Ratio studies are often used for oversight purposes. However, they can also be used for internal 
________ _...
Monitoring activities (Quality assurance) 1. Reviews of progress and performance contribute 
to effective and efficient operations 
 
2. Procedures in place for monitoring the quality of assessment, editing data, reviewing 
appraisals, and reporting time and productivity 
Management from the past One of the first management theories was the classical theory of 
management. This ws promarily an authoritarian approach, with "top-down" decision making
What are the five recognized appraisal designations offered by the IAAO that represent the 
highest level of achievement in the field? CAE 
AAS 
CMS 
PPS 
RES 
 
Short of a general revaluation of all property, 
__________________________________________________________ and 
____________________________________________________ produce the single most 
impressive dollar return for time and money committed. systematic audit programs 
energetic personal property discovery efforts 
 
The theory t...
Tax Rate (def.) Percent of assessed value at which each property is taxed in a given district. 
 
Tax Rate (formula) Tax revenue (amount) / Assessed value 
 
Property Tax (formula) Subject assessed value / Tax rate 
 
Budget Revenue (formula) Total budget - Other taxes 
 
Effective Tax Rate (def.) Reflects the relationship between total property taxes on real 
property and the property's market value. 
 
Effective Tax Rate (formula) Assessment ratio (level) X Tax rate 
 
Jurisdictions tax rate...