Practice Test Geeks(CFB) Certified Freight Broker Practice Test
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Roles and Responsibilities Flashcards

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  1. Under federal regulations, a freight broker must maintain a surety bond or trust fund in the amount of:

    Answer: $75,000

    FMCSA regulations require freight brokers to maintain a $75,000 surety bond (BMC-84) or trust fund (BMC-85) to protect shippers and carriers.

  2. Which broker responsibility is directly tied to maintaining accurate and accessible shipment records?

    Answer: Enabling dispute resolution and regulatory audits

    Accurate records allow brokers to resolve disputes with shippers or carriers and demonstrate compliance during FMCSA audits.

  3. A carrier tells a broker it will deliver a load for $1,200, but the broker quotes the shipper $1,500. The $300 difference represents the broker's:

    Answer: Margin or commission

    The spread between what the broker pays the carrier and charges the shipper is the broker's margin, which is its primary source of revenue.

  4. When a broker receives a freight claim from a carrier for detention charges, the broker's responsibility is to:

    Answer: Review the charges, verify against BOL and appointment records, and pass legitimate charges to the shipper

    The broker should verify detention claims against shipment records and, if valid, pass them through to the responsible shipper.

  5. A broker has a fiduciary-like duty to the shipper in which of the following scenarios?

    Answer: When the broker-shipper contract grants the broker power of attorney for freight claims

    A fiduciary-like duty arises when contractual language, such as a power of attorney for claims, elevates the broker's responsibility to act in the shipper's interest.

  6. What distinguishes a 'managed transportation' broker arrangement from a standard spot-market transaction?

    Answer: Managed transportation involves ongoing, contract-based logistics management for the shipper's entire freight program

    Managed transportation means the broker oversees the shipper's full logistics operation under a contract, not just individual one-off loads.

  7. A freight broker's 'duty to communicate' most directly requires the broker to:

    Answer: Provide shippers and carriers with timely, accurate updates about shipment status and issues

    Brokers must keep both shippers and carriers informed of relevant shipment developments, delays, and changes to fulfill their intermediary role effectively.