As you go through the McKissock courses you will come across math formulas that you will need to use in the quizzes and exams, and will use in your appraisal practice. It will be helpful to have a quick reference list for those math formulas to assist in taking the tests and for use in your appraisal practice later.

My recommendation is that you * create your own quick reference list of math formulas as you go through the course*. I suggest that you do it in the following manner.

1) Make a PDF copy of each chapter as you start the chapter in the course using the print icon at the bottom of each page. Save the PDF copy to a folder for the course in your computer. That would then give you a permanent copy of the course material as part of your electronic library for future reference even after you complete the course and need to review in your appraisal career.

2) When you come across a math formula in the course, create/maintain a WORD file that you could name "Appraisal Math Formulas" or something similar. Prepare a topic heading of some sort identifying the formula so you can later search for it in the file. Copy enough of the course content under that heading and then replicate the example of the math calculations so you can review the procedures later.

When you come across a question in the quizzes or final exam requiring that formula, you could quickly open the WORD file and search for the formula, review the content and example, and answer the question.

Most word processing programs have a search feature that will let you quickly find a word or phrase. In Microsoft WORD, for example, using the "CTRL" key and "F" key (Hold down the CTRL key and click the F key), brings up a pop up window where you can enter a word, phrase, or string of characters and search through the document for that.

I think that would not only be an excellent reference tool for you but by copying the information to the WORD file you are reinforcing the course content helping to solidify the understanding in your mind so retention will be better.

**As an example**, in the Basic Appraisal Procedures course, the course presents the formula for property tax assessments. That formula often gives students problems. So the entry in your WORD file could be:

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PROPERTY TAX ASSESSMENT.

Basic Appraisal Procedures, Ch 3, Pg 7.

“The basis for real estate taxation is an assessed value that is placed on the tax roll for each property in the taxing jurisdiction. That assessed value bears a relationship to the value of that parcel of real property.

“In some jurisdictions the assessed value is purported to represent the full market value of the real property. In other taxing jurisdictions, the assessed value is applied as a ratio of full market value. As an example, all properties in a jurisdiction may be assessed at 50% of value or 90% of value.

“The bottom line amount of real estate taxes should be equal in either situation. The total taxes are the product of assessed value multiplied by a tax rate.

“Let's assume that a property is worth $100,000. If it is assessed at $100,000 and the rate per thousand is $5, the taxes would be $500. If it was to be assessed at 50% of value, or $50,000, then the rate would likely be $10 dollars per thousand of assessed value. Multiplying 50 (thousands of dollars) by $10 would equal the same $500 in property taxes.”

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Formula:

Assessed Value / Market Value rate / 1000 X Tax Rate = Property taxes

$50,000 / 0.50 = 100,000;

$100,000 / 1000 = 100;

100 X $5.00 = $500.

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If you create an entry like this each time you come across a math formula, you will have an excellent reference tool for future reference AND you will have reinforced your understanding of the course material as you create that entry.