CCS Trade Agreements and Programs 2

Question 1

Under USMCA, what is the minimum Regional Value Content (RVC) required for most automotive parts using the Net Cost method?

Accepted Answer

65%

Answer

USMCA requires a minimum of 65% RVC for most automotive parts when using the Net Cost method, phasing up to 75% by 2023.

Question 2

Which of the following countries is NOT a member of CAFTA-DR?

Accepted Answer

Panama

Answer

Panama is not part of CAFTA-DR; the agreement covers Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, and Nicaragua.

Question 3

The US-Korea Free Trade Agreement (KORUS) was implemented in which year?

Accepted Answer

2012

Answer

KORUS entered into force on March 15, 2012, making it one of the largest US FTAs by trade volume at the time.

Question 4

Under the US-Australia FTA, importers claiming preferential tariff treatment must:

Accepted Answer

Maintain records supporting the claim but no formal certificate is required

Answer

The US-Australia FTA uses an importer-based system where no formal certificate is required, but importers must maintain supporting documentation for 5 years.

Question 5

Under the US-Colombia FTA, which document can serve as a certification of origin?

Accepted Answer

A certification by the exporter, producer, or importer on any document

Answer

The US-Colombia FTA allows the exporter, producer, or importer to certify origin on any document, including a commercial invoice, with required data elements.

(CCS) Certified Customs Specialist Practice Test

(CCS) Certified Customs Specialist Practice Test

CCS Trade Agreements and Programs 2