CCS Import Entry Process 2

Question 1

Which CBP form is used to file a formal consumption entry for imported merchandise?

Accepted Answer

CBP Form 7501

Answer

CBP Form 3461

Answer

CBP Form 4811

Answer

CBP Form 3299

Question 2

What is the maximum value threshold for a de minimis shipment to enter the U.S. duty-free under Section 321?

Accepted Answer

$800

Answer

$100

Answer

$200

Answer

$1,000

Question 3

What is the standard bond requirement for a formal entry where merchandise is released before payment of estimated duties?

Accepted Answer

Three times the duties and fees

Answer

10% of duties

Answer

The importer's credit score determines it

Answer

The full CIF value of the goods

Question 4

An importer files a consumption entry. Within how many days after release must the Entry Summary (CBP Form 7501) be filed?

Accepted Answer

10 days

Answer

5 days

Answer

15 days

Answer

30 days

Question 5

Which type of entry is appropriate for goods imported temporarily that will be exported within one year?

Accepted Answer

Temporary Importation under Bond (TIB)

Answer

Informal entry

Answer

Consumption entry

Answer

Warehouse entry

Question 6

What document must an importer of record provide to establish the right to make entry for imported goods?

Accepted Answer

Evidence of right to make entry such as a bill of lading or air waybill

Answer

Commercial invoice only

Answer

A letter from the foreign exporter

Answer

An IRS tax ID number

Question 7

Under ACE (Automated Commercial Environment), what is the function of the 'importer of record' number?

Accepted Answer

It identifies the party responsible for duties and compliance

Answer

It identifies the foreign exporter

Answer

It is used solely for FDA tracking

Answer

It replaces the need for a customs bond