CCS Customs Regulations & Compliance 3

Question 1

Under CBP's reasonable care standard, who bears primary responsibility for the accuracy of import entries?

Accepted Answer

The importer of record

Answer

The Customs Modernization Act places the responsibility on the importer of record to exercise reasonable care in the accuracy of their import declarations.

Question 2

What is the purpose of CBP's Importer Security Filing (ISF), commonly called '10+2'?

Accepted Answer

To provide advance cargo information for security risk assessment before loading

Answer

ISF requires importers to submit 10 data elements (and carriers 2) to CBP at least 24 hours before cargo is loaded on a vessel bound for the U.S. for security screening.

Question 3

Which type of customs bond is filed for a specific transaction rather than covering multiple entries over a period of time?

Accepted Answer

Single transaction bond

Answer

A single transaction bond (STB) covers only one specific import entry, as opposed to a continuous bond that covers all entries over a 12-month period.

Question 4

Under what circumstances may CBP extend the liquidation period of a customs entry beyond one year?

Accepted Answer

When the entry is under a trade remedy investigation, antidumping review, or by statute

Answer

CBP may extend liquidation up to three times (totaling 4 years) when an entry is subject to antidumping/countervailing duty investigations or other statutory reasons.

Question 5

What is the definition of 'dutiable value' for most imported goods under U.S. customs law?

Accepted Answer

The transaction value — the price actually paid or payable for the goods

Answer

The primary basis of appraisement under U.S. law (19 U.S.C. § 1401a) is transaction value — the price actually paid or payable for goods sold for export to the U.S.

(CCS) Certified Customs Specialist Practice Test

(CCS) Certified Customs Specialist Practice Test

CCS Customs Regulations & Compliance 3