CCS Broker and Importer Compliance 3

Question 1

Under 19 CFR 111.29, a customs broker must retain copies of all entry documents for a minimum of:

Accepted Answer

5 years from the date of the transaction

Answer

3 years from the date of entry

Answer

5 years from the date of entry

Answer

7 years from the date of the transaction

Question 2

An importer classified under the Importer Self-Assessment (ISA) program is primarily audited by whom?

Accepted Answer

The importer's own internal compliance team

Answer

CBP through mandatory annual audits

Answer

The customs broker on CBP's behalf

Answer

The Department of Commerce trade specialists

Question 3

A broker's triennial status report under 19 CFR 111.30 must be filed with CBP every three years during which period?

Accepted Answer

January 1–31

Answer

February 1–28

Answer

March 1–31

Answer

April 1–30

Question 4

Under 19 USC 1592, negligence penalties for material false statements are capped at what maximum amount per violation?

Accepted Answer

The lesser of 20% of the lawful duties or the domestic value of the merchandise

Answer

The lesser of the domestic value of the merchandise or $10,000

Answer

4 times the unpaid duties or $5,000, whichever is less

Answer

2 times the unpaid duties, with no ceiling

Question 5

Which of the following is NOT a requirement for a valid corporate Power of Attorney granted to a customs broker?

Accepted Answer

Notarization by a licensed notary public

Answer

Signature of an authorized officer of the corporation

Answer

Corporate seal or attestation by a second officer in lieu of seal

Answer

Identification of the grantor's importer number

Question 6

When CBP issues a Notice of Action (CF-29) to an importer proposing a duty rate increase, the importer has how many days to respond?

Accepted Answer

30 days

Answer

10 days

Answer

20 days

Answer

60 days

Question 7

A surety bond that covers a single customs transaction rather than ongoing import activity is classified as a:

Accepted Answer

Single-entry bond

Answer

Continuous bond

Answer

Term bond

Answer

Activity bond