V
BAHAMAS CUSTOM BROKER'S MOCK EXAM 2025|26 ||
50 ACTUAL QUESTIONS WITH CORRECT DETAILED
ANSWERS |\ GRADED A+.
, 1. Advance Ruling can be made in three categories: Tariff Matters, Valuation of
Goods, Origin of Goods
2. Which General Rule Of Interpretation applies to incomplete , unassembled
or unfinished?: GRI 2a
3. What does TRIPS Agreement represent?: Trade Related Intellectual Property
Rights
4. Calculate the duty on 2 cases of Compari Bitters 57 proof(USP), 12/1 ltr,
valued @ $230: i) 1 Ltr
(ii) 12x1
(iii) 12x.22
(iv) 2.64x2
(v) 5.28 x 15
5. Six principles of the WTO Valuation Agreement: (1)Transactional Value of
Price Actually Paid or Payable
(2) Identical Goods
(3)Similar Goods
(4)Deductive Value
(5)Computed Value
(6)Fall Back Method
6. Rules that Govern the classification of the Harmonized Tariff Schedule are
called: General Rules of Interpretations
7. What are regimes?: Regimes are the processes that imports and exports use to
clear shipments in and out of the country.
8. Four Regimes are: Export, Temporary Export, Re-Export, Import
9. Name two Criteria for clearing Goods: (1)Goods originating in a country shall
be those wholly obtained, or produced in that country.
(2)If goods are produced in more than one country , it shall be the country where
the product underwent its last major undertaking, resulting in the manufacture of a
new product.
10. Goods shall remain in the Transit Shed for: Five (5) days excluding Sundays
and Public Holidays
11. How many General Rule for interpretations are there: Six
12. Name Three General Rules of Interpretations: (1)GRI 1 Prescribes how to
classify products at the 4 digit heading level, based on the wording of the headings
and relative HS Section/Chapter Notes
(2)GRI 2 Prescribes how to classify both incomplete, and unassembled goods.
13. GRI 1: GRI 1 prescribes how to classify products at the 4-digit Heading level,
based on the wording of the headings and the relative HS Section and Chapter
BAHAMAS CUSTOM BROKER'S MOCK EXAM 2025|26 ||
50 ACTUAL QUESTIONS WITH CORRECT DETAILED
ANSWERS |\ GRADED A+.
, 1. Advance Ruling can be made in three categories: Tariff Matters, Valuation of
Goods, Origin of Goods
2. Which General Rule Of Interpretation applies to incomplete , unassembled
or unfinished?: GRI 2a
3. What does TRIPS Agreement represent?: Trade Related Intellectual Property
Rights
4. Calculate the duty on 2 cases of Compari Bitters 57 proof(USP), 12/1 ltr,
valued @ $230: i) 1 Ltr
(ii) 12x1
(iii) 12x.22
(iv) 2.64x2
(v) 5.28 x 15
5. Six principles of the WTO Valuation Agreement: (1)Transactional Value of
Price Actually Paid or Payable
(2) Identical Goods
(3)Similar Goods
(4)Deductive Value
(5)Computed Value
(6)Fall Back Method
6. Rules that Govern the classification of the Harmonized Tariff Schedule are
called: General Rules of Interpretations
7. What are regimes?: Regimes are the processes that imports and exports use to
clear shipments in and out of the country.
8. Four Regimes are: Export, Temporary Export, Re-Export, Import
9. Name two Criteria for clearing Goods: (1)Goods originating in a country shall
be those wholly obtained, or produced in that country.
(2)If goods are produced in more than one country , it shall be the country where
the product underwent its last major undertaking, resulting in the manufacture of a
new product.
10. Goods shall remain in the Transit Shed for: Five (5) days excluding Sundays
and Public Holidays
11. How many General Rule for interpretations are there: Six
12. Name Three General Rules of Interpretations: (1)GRI 1 Prescribes how to
classify products at the 4 digit heading level, based on the wording of the headings
and relative HS Section/Chapter Notes
(2)GRI 2 Prescribes how to classify both incomplete, and unassembled goods.
13. GRI 1: GRI 1 prescribes how to classify products at the 4-digit Heading level,
based on the wording of the headings and the relative HS Section and Chapter
