Practice Test Geeks(CBLE) Customs Broker License Exam Practice Test
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Import Compliance and Risk Management Flashcards

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  1. Under 19 CFR Part 111, a customs broker's power of attorney must be executed by which party?

    Answer: The importer of record or a legally authorized agent

    A power of attorney must be executed by the importer of record or someone legally authorized to act on their behalf, granting the broker authority to transact customs business.

  2. Which program allows low-risk importers expedited release of goods in exchange for greater self-governance and compliance commitments?

    Answer: Importer Self-Assessment (ISA)

    The Importer Self-Assessment program lets qualifying low-risk importers manage their own compliance in exchange for reduced CBP oversight and faster cargo release.

  3. A 'first sale' valuation methodology allows an importer to declare customs value based on which transaction?

    Answer: The sale between the foreign manufacturer and the middleman

    First sale valuation uses the earliest qualifying sale in a multi-tier supply chain — typically between the manufacturer and middleman — which is often lower than the last sale price.

  4. Under the Enforce and Protect Act (EAPA), CBP may conduct investigations into allegations of which violation?

    Answer: Evasion of antidumping or countervailing duty orders

    EAPA (19 U.S.C. § 1517) authorizes CBP to investigate allegations that importers are evading antidumping and countervailing duty orders through transshipment or other schemes.

  5. An importer receives a CBP Form 28 (Request for Information). What is the appropriate response timeframe?

    Answer: 30 days from the date of the CF-28

    CBP Form 28 requests a response within 30 days, though extensions may be granted; failure to respond can result in adverse action on the entry.

  6. Which type of bond is required for a continuous transaction where an importer brings in multiple shipments throughout the year?

    Answer: Continuous bond

    A continuous bond covers all entries filed within a 12-month period and is renewed annually, making it cost-effective for frequent importers.

  7. Under 19 CFR 163.4, an importer's recordkeeping obligation for entry records generally extends how long after the date of entry?

    Answer: 5 years

    Importers must retain entry-related records for five years from the date of entry, as required by 19 CFR 163.4.