1)
The dividing line in dollars between informal and formal consumption
entries is currently $2,500. T F
2)
A formal entry must sometimes be used regardless of value.
T F
3)
The port director of U.S. Customs has no authority to make any exceptions
under the Customs Regulations of the United States. T
F
4)
Eo nomine is a possible classification method in the Harmonized
Tariff Schedule of the United States of America. T F
5)
The Caribbean Basin Initiative favored duty treatment applies for all
imports from the countries listed for CBI. T
F
6)
Products of 100% Mexican origin always take a Most-Favored-Nation rate. T
F
7)
“Essential character” can never be a consideration for classification
of imports. T F
8)
A given product with country of origin Canada always takes the same duty
rate as the same product with country of origin Mexico. T
F
9)
A Harbor Maintenance Fee may sometimes be collected
by Customs on an import shipment. T
F
10)
Department of Agriculture release may be needed to
import a food shipment into the United States. T
F
11)
In the interests of free trade, quotas are not
imposed by the United States on import shipments. T
F
12)
Anyone over 18 may become a customs broker in the
United States. T F
13)
A bond is needed to enter goods under the informal
entry process. T F
14)
If a duty rate is shown as follows:
5% for
the first 1,000,000 units imported this year.
12% thereafter
then the informal entry process may automatically be
used.
T F
15) A drawback is the same as a T&E Entry T F
16) Transaction value is officially defined as
"the price quoted for the merchandise on the pro forma invoice, regardless
of the term of sale or term of payment. T F
17)
The country of origin is always the same as the
country from which the goods are exported to the United Sates. T
F
18) Once duties have been deposited on a formal entry,
the duty rate can never be questioned again by Customs or the importer. T
F
19) An example of "other agency" requirements
is release of a pharmaceutical by the Food and Drug Administration T
F
20) All goods entering the United States must be marked
with the country of origin on the product itself.. T
F
21) If goods arrive in the United States after an
absolute quota has been filled, the goods may be placed in a Foreign Trade Zone
until the quota reopens. T F
22)
A buyer may stipulate in the letter of credit that
the seller provide a certificate that copies of documents have been faxed to the
buyer. T F
23) An importer may purchase bonds for formal entries on a shipment-by-shipment basis. T F
24) In searching sources of goods to import, we can contact a country's consulate in the U.S. and ask for names and locations of manufacturers in the home country. T F
25) Ocean freight on an import shipment is usually dutiable in the United States. T F