April 2023 Customs Broker Exam Questions With Complete Solutions

C. The correct entry type code for a warehouse withdrawal for AD/CVD duties is 34. From the Instructions for Preparation of CBP Form 7501 (July 24, 2012): BLOCK 2) ENTRY TYPE Warehouse Withdrawal For Consumption - 31 Quota/Visa - 32 AD/CVD - 34 Quota/Visa and AD/CVD combinations - 38 correct answer: AD/CVD 1. What is the correct entry type code for a warehouse withdrawal for antidumping/countervailing duties (AD/CVD)? A. 03 B. 21 C. 34 D. 32 E. 31 C. You would report the AD/CVD CASE Number in Column 29. From the Instructions for Preparation of CBP Form 7501: COLUMN 29) A. HTS NUMBER B. AD/CVD CASE NUMBER Directly below the HTS number, indicate the appropriate AD/CVD case number(s), as assigned by the Department of Commerce, International Trade Administration. correct answer: AD/CVD 2. In which column on the CBP Form 7501 would you report the AD/CVD CASE Number? A. Column 27 B. Column 28 C. Column 29 D. Column 32 E. Column 34 C. $7,074.10 Duty 2.4% x $9875.00 = $237.00, MPF .3464% X $9875.00 = $34.21, ADD 68.89% x $9875.00 = $6,802.89, TOTAL $ 7,074.10 correct answer: AD/CVD 3. Top Dawg imported seven ball bearings with integral shafts from Germany, which are classified under subheading 8482.10.10, Harmonized Tariff Schedule of the United States, at a 2.4% ad valorem duty rate and subject to antidumping duties. The ball bearings are shipped by air and formally entered at John F. Kennedy International Airport. The total value of the shipment is $9,875.00. The applicable antidumping duty case deposit rate is 68.89%. What are the total amount of fees and estimated duties that should be reported on the CBP Form 7501? A. $237.00 B. $7,039.89 C. $7,074.10 D. $6,837.10 E. $6,802.89 B. 15 days per 19CFR113.13(c): PART 113—CBP BONDS Subpart B—Bond Application and Approval of Bond §113.13 Amount of bond. (c) Periodic review of bond sufficiency. CBP will periodically review each bond on file to determine whether the bond is adequate to protect the revenue and ensure compliance with applicable law and regulations. If CBP determines that a bond is inadequate, the principal and surety will be promptly notified in writing. The principal will have 15 days from the date of notification to remedy the deficiency. Notwithstanding the foregoing, where CBP determines that a bond is insufficient to adequately protect the revenue and ensure compliance with applicable law and regulations, CBP may provide written notice to the principal and surety that, upon receipt thereof, additional security in the form of cash deposit or single transaction bond may be required for any and all of the principal's transactions until the deficiency is remedied. correct answer: BONDS 4. CBP will periodically review each bond on file to determine whether the bond is adequate to protect the revenue and ensure compliance with applicable law and regulations. If CBP determines that a bond is inadequate, the principal and surety will be promptly notified in writing. The principal will have how many days from the date of notification to remedy the deficiency? A. 10 days B. 15 days C. 20 days D. 25 days E. 30 days A. The entire amount of the STB ($110,000) per 19CFR 142.15 PART 142—ENTRY PROCESS Subpart B—Entry Summary Documentation §142.15 Failure to file entry summary timely. If the entry summary documentation is not filed timely, the port director shall make an immediate demand for liquidated damages in the entire amount of the bond in the case of a single entry bond. When the transaction has been charged against a continuous bond, the demand shall be for the amount that would have been demanded if the merchandise had been released under a single entry bond. Any application to cancel liquidated damages incurred shall be made in accordance with part 172 of this chapter. correct answer: BONDS 5. Entry summary documentation was not filed timely for a shipment of $100,000.00 entered with Single Transaction Bond (STB) in the amount of $110,000.00. Liquidated damages will be assessed at: A. The entire amount of the STB ($110,000) B. $100,000 plus duties and fees