CBLE Import Compliance and Risk Management

Question 1

What is the primary objective of U.S. Customs and Border Protection's (CBP) audit programs?

Accepted Answer

To ensure compliance with import regulations and identify underpayments or overpayments of duties.

Answer

To determine the market value of imported goods.

Answer

To classify goods correctly under the Harmonized Tariff Schedule.

Answer

To establish tariff rates for specific goods.

Question 2

What does the term "anti-dumping" refer to in international trade?

Accepted Answer

A practice where imported goods are sold at a price lower than their fair market value in the exporting country.

Answer

A tariff imposed on imports to protect local industries.

Answer

The reduction of import duties on certain goods.

Answer

A mechanism to control the volume of imports entering a country.

Question 3

What is the purpose of a Customs-Trade Partnership Against Terrorism (C-TPAT) program?

Accepted Answer

To enhance security and prevent terrorism by improving the supply chain security practices of businesses.

Answer

To eliminate tariffs on imports from partner countries.

Answer

To provide a way for importers to avoid customs inspections.

Answer

To establish trade quotas for partner countries.

Question 4

What is the primary goal of the "Importer Security Filing" (ISF), also known as the "10+2" rule?

Accepted Answer

To collect a list of goods entering the U.S. before they arrive.

Answer

To provide U.S. Customs with detailed product information, including tariff classifications.

Answer

To track shipments in real-time during transit.

Answer

To identify potential violations of import laws before goods are shipped.

Question 5

Which of the following practices is considered a violation of U.S. Customs law?

Accepted Answer

Underreporting the value of goods to reduce duties.

Answer

Filing a correct entry summary after receiving goods.

Answer

Correctly classifying goods under the Harmonized Tariff Schedule.

Answer

Paying the correct duties and taxes on imported goods.