WorksheetsCustoms and Trade Compliance Quiz
Total questions: 21
Worksheet time: 11mins
The liability incurred by a warehouse bond remains active unless the goods entered into a bonded warehouse have been:
Exported or deemed exported
Withdrawn for supplies to a vessel or aircraft international traffic
Destroyed under Customs supervision
Withdrawn for consumption within the U.S. after payment of duty
All of the above
Which of the following is not included in the criteria for 'direct delivery' to an FTZ?
Goods are not restricted to a type which requires CBP examination or documentation review before or upon arrival at the FTZ, for example, quota/visa goods
Application is made using CBP Form 7501
Goods to be admitted to the FTZ and the operations to be conducted in the FTZ are known well in advance, are predictable and stable over the long term, and are relatively fixed in variety by the nature of the business conducted at the site
The operator is the owner or purchaser of the goods
What is the minimum TIB liability?
$50
$100
$1,000
Double the duties
Privileged Foreign Status is given to goods to determine the duty rate after goods have been manipulated or further manufactured.
True
False
Payment of duties to a customs broker relieves the importer of liability if the customs broker does not pay the duties to CBP.
True
False
Goods entered under Zone-Restricted Status may be manipulated, manufactured, processed, or assembled in an FTZ.
True
False
Goods brought into a Foreign Trade Zone are not subject to Customs entry procedures.
True
False
An "inverted tariff" is a situation where the tariffs on merchandise admitted to the zone in its condition at the time admitted to the zone products are lower than the tariffs on finished products themselves.
True
False
When must proof of export be submitted to Customs?
One year from the date of importation
Three years from the date of entry
No later than 30 days after the TIB expiration
10 days prior to export
When an importer chooses to have his FTZ goods classified for tariff purposes as what it is at the time it enters into the FTZ, rather than as what those goods can become after being manipulated or manufactured, this status is referred to as:
Privileged Foreign Status
Zone Restricted Status
Non-Privileged Foreign Status
Domestic Status
The operator of an FTZ is responsible for which of the following actions?
Allowing Customs access to the zone
Safekeeping of merchandise
Providing safeguards and security within the zone
Maintaining records of goods in the zone
All of the above
For which of the following are bonded warehouses not generally used?
Merchandise undergoing examination by CBP
Goods that have not been released by CBP
Automobiles that have cleared CBP
General order merchandise
Most Federal Laws do not apply to cargo stored in Foreign Trade Zones because these zones are considered outside of the customs territory of the United States.
True
False
U.S. quota restrictions apply to merchandise admitted to Foreign Trade Zones.
True
False
(a) is an electronic payment option that allows ABI filers to pay customs fees, duties, and taxes through an electronic transaction.
The HMF (Harbor Maintenance Fee) is an ad valorem fee assessed on the value of commercial cargo loaded on or unloaded from a commercial vessel at ports covered by the Water Resources Act of 1986. The HMF is (a) percent of the value of the cargo and is applied to imported goods as well as certain domestic movements of cargo.
Which of the following statements is not an advantage of using an FTZ?
No duties are paid on merchandise exported from an FTZ
Federal laws don’t apply within an FTZ
Entry under Temporary Importation Bond (TIB) is a customs procedure that allows, under specific terms and conditions, the duty-free entry of certain goods for a limited amount of time. Goods entered under a TIB must be either exported or destroyed, usually within:
30 days
60 days
90 days
One year
Which of the following is not a requirement for U.S. manufactured goods to enter the U.S. under the duty-free provisions for returning goods of U.S. origin under the tariff heading 9801.00.10?
The goods must not have been the subject of a drawback claim
The goods must be returned to the United States within six months from their date of export
The goods must not have advanced in value or improved in condition while abroad
For goods valued at over $2,500, a declaration by the foreign shipper that includes the date upon which the goods were exported from the United States
Where would you find a complete list of all the records required by law and regulation?
19 USC 1401
19 USC 1509
19 USC 1514
19 USC 1641
In accordance with the provisions of 9802.00.80, the valuation of the “fabricated U.S. components” is based upon the following cost:
DDB the port of foreign importation
FOB the U.S. port of exportation
CIF the U.S. port of exportation
Domestic value
