TOPIC 5 – BASIS OF DUTIABLE VALUE (QUIZ)

A shipment of 2 x 40’ vans containing inflammable cargo arrived at South Harbor. The covering invoice shows total FOB value of $45,000.00 and freight charges of $3,200.00 and marine insurance of $1,500.00. The bill of lading shows ocean freight charges of $3,300.00. The rate of exchange was P48.50/$1.00. How much is the dutiable freight?

• $3,300.00

• $3,200.00

• $3,000.00

• $3,100.00

A shipment of 2 x 40’ vans containing inflammable cargo arrived at South Harbor. The covering invoice shows total FOB value of $45,000.00 and freight charges of $3,200.00 and marine insurance of $1,500.00. The bill of lading shows ocean freight charges of $3,300.00. The rate of exchange was P48.50/$1.00. How much is the dutiable insurance?

• $1,800.00

• $1,500.00

• $1,300.00

• $1,400.00

A shipment of 2 x 40’ vans containing inflammable cargo arrived at South Harbor. The covering invoice shows total FOB value of $45,000.00 and freight charges of $3,200.00 and marine insurance of $1,500.00. The bill of lading shows ocean freight charges of $3,300.00. The rate of exchange was P48.50/$1.00. How much is the dutiable value?

• P2,429,850.00

• P2,415,300.00

• P2,410,450.00

• P2,425,000.00

A shipment of refrigerator parts arrived at NAIA with total CPT value of $27,000.00. The covering invoice freight charges of $2,150.00 whereas the air waybill shows air freight charges of $2,200.00. The rate of exchange was P52.60/$1.00. How much is the dutiable freight?

• $2,150.00

• $2,200.00

• $2,100.00

• $2,020.00

A shipment of refrigerator parts arrived at NAIA with total CPT value of $27,000.00. The covering invoice freight charges of $2,150.00 whereas the air waybill shows air freight charges of $2,200.00. The rate of exchange was P52.60/$1.00. How much is the dutiable insurance?

• $496.00

• $497.00

• $992.00

• $994.00

A shipment of refrigerator parts arrived at NAIA with total CPT value of $27,000.00. The covering invoice freight charges of $2,150.00 whereas the air waybill shows air freight charges of $2,200.00. The rate of exchange was P52.60/$1.00. How much is the dutiable value?

• P1,446,289.60

• P1,448,972.20

• P1,472,379.20

• P1,475,114.40

A shipment of furniture arrived at MICP with total FOB value of $32,000.00. The SAD indicated freight charges of $2,500.00. The total gross weight was 5,000 kilograms subject to GCR rate of $0.70/kg. The importer secured a local insurance premium of P29,820.00 but no official receipt and certification were presented to BOC. The rate of exchange was P49.70/$1.00. How much is the dutiable freight?

• $2,450.00

• $3,500.00

• $2,500.00

• $3,300.00

A shipment of furniture arrived at MICP with total FOB value of $32,000.00. The SAD indicated freight charges of $2,500.00. The total gross weight was 5,000 kilograms subject to GCR rate of $0.70/kg. The importer secured a local insurance premium of P29,820.00 but no official receipt and certification were presented to BOC. The rate of exchange was P49.70/$1.00. How much is the dutiable insurance?

• $620.00

• $650.00

• $640.00

• $600.00

A shipment of furniture arrived at MICP with total FOB value of $32,000.00. The SAD indicated freight charges of $2,500.00. The total gross weight was 5,000 kilograms subject to GCR rate of $0.70/kg. The importer secured a local insurance premium of P29,820.00 but no official receipt and certification were presented to BOC. The rate of exchange was P49.70/$1.00. How much is the dutiable value?

• P1,744,470.00

• P1,796,158.00

• P1,746,458.00

• P1,778,266.00

A shipment of gold bracelets arrived at MCIA with total FCA value of $85,000.00. The invoice shows freight charges of $2,800.00 while the air waybill shows air freight charges of $2,500.00. The importer procured a domestic insurance of P104,000.00 with official receipt and certification presented to BOC. The rate of exchange was P41.60/$1.00. Determine the dutiable value.

• P3,793,920.00

• P3,781,440.00

• P3,744,000.00

• P3,756,480.00