TM212C Midterm Exam Monday Schedule

Under Section 1609 of the CMTA, who shall promulgate such reasonable procedures, rules and regulations as they may deem necessary to execute their respective functions?

• NEDA

• Commission

• NEDA and Commission

• Tariff Commission upon the recommendation of the NEDA

What phrase appears at the top of the Official Seal of the Tariff Commission?

• Progress Through Trade

• Wheel of Prosperity

• Wheel of Progress

• Tariff and Customs Unity

The Council, which meets annually, is the WCO’s highest decision-making body. It is composed of Directors-General of Customs from all member states and is assisted by subsidiary bodies. Which of the following is NOT one of the Council’s assisting bodies?

• Finance Committee

• Policy Commission

• Harmonized System Sub-working Party

• Secretariat

Which function is NOT listed in Section 1603?

• Adjudicating cases on trade remedies

• Issuing advance rulings on tariff classification

• Conducting financial audits of private enterprises

• Providing independent analysis to the President and Congress

Which agency is NOT mentioned as a recipient of information from the Commission?

• Department of Agriculture

• Department of Tourism

• Department of Trade and Industry

• Bangko Sentral ng Pilipinas

The ASEAN Flag is rich with symbolism. The stalks of rice in the center represent the dream of ASEAN’s founding fathers for regional unity, while the circle symbolizes ASEAN’s oneness. What does the color red on the flag signify?

• Prosperity

• Courage and dynamism

• Peace and stability

• Purity

What type of agreements does the Commission review according to Section 1603(g)?

• Labor agreements

• Trade agreements

• Environmental agreements

• Customs treaties and agreements

Which country joined ASEAN after Vietnam?

• Cambodia

• Thailand

• Myanmar

• Laos PDR

A local exporter of agricultural products wants to confirm the tariff classification of their goods before shipping them abroad. When is the proper time to file an Application for Advance Ruling on Tariff Classification?

• After the export declaration has been processed.

• Before the exportation of goods.

• While the shipment is already in transit.

• Anytime after the shipment has arrived at its destination.

Which body oversees the implementation of the AHTN Protocol?

• ASEAN Finance Ministers Meeting

• ASEAN Secretariat

• ASEAN Directors-General of Customs

• All of the above