TM111C - Midterm Exam

What does Admission mean in the context of customs free zones?

• Bringing goods out of the Philippine territory

• Bringing imported goods directly or through transit into a free zone

• Completion of customs formalities to allow goods to enter for consumption

• Reduction of duties and taxes

Which document is issued by airlines and international freight forwarders for airfreight and gives the holder or consignee the right to claim delivery at destination?

• Bill of Lading (B/L)

• Airway Bill (AWB)

• Export Declaration

• Goods Declaration

Which term refers to the remedy by which a person aggrieved by an action, decision, order, or omission of the Bureau seeks redress before the Bureau, the Secretary of Finance, or competent court?

• Assessment

• Appeal

• Clearance

• Flexible Clause

Assessment in customs primarily involves which activity?

• Issuing transport instructions to carriers

• Determining the amount of duties, taxes, and other charges due on imported and exported goods

• Consolidating shipments into a single lot

• Authorizing the operation of the Bureau of Customs

Who is an Authorized Economic Operator (AEO) under this Act?

• Only the importer accredited by the Tariff Commission

• Any entity duly accredited by the Bureau based on WCO standards to promote secure and seamless movement of goods

• Only airlines authorized to carry international cargo

• Any holder of a professional customs broker license

Which transport document is issued by shipping lines, carriers, and international freight forwarders for water-borne freight and gives the holder or consignee the right to claim delivery at the port of destination?

• Goods Declaration

• Airway Bill (AWB)

• Bill of Lading (B/L)

• Export Declaration

Which term simply refers to the Bureau of Customs?

• Commission

• Carrier

• Bureau

• Customs Office

Which body is meant when the term Commission is used in these definitions?

• Civil Service Commission

• Tariff Commission

• Securities and Exchange Commission

• National Economic and Development Authority

Conditional Importation under the RKC allows which scenario?

• Permanent duty-free admission of goods for domestic consumption

• Temporary admission with conditional relief from duties and taxes for specific-purpose goods intended for reexportation within a specified period

• Immediate destruction of perishable goods at the border

• Export of goods without any documentation

Customs Office refers to which of the following?

• Any private warehouse storing imported goods

• Any customs administrative unit authorized to perform functions under customs and tariff laws

• Only the head office of the Bureau of Customs

• The Tariff Commission