CFB Regulations and Compliance

Question 1

Which government agency is responsible for regulating freight brokers in the United States?

Accepted Answer

Federal Motor Carrier Safety Administration (FMCSA)

Answer

U.S. Department of Commerce

Answer

National Highway Traffic Safety Administration (NHTSA)

Answer

Occupational Safety and Health Administration (OSHA)

Question 2

What is the purpose of the $75,000 surety bond requirement for freight brokers?

Accepted Answer

To protect carriers and shippers in case of broker non-payment

Answer

To cover fuel costs for carriers

Answer

To ensure brokers adhere to ethical business practices

Answer

To fund federal safety inspections

Question 3

How often must a freight broker renew their operating authority with the FMCSA?

Accepted Answer

Every two years

Answer

Annually

Answer

Every three years

Answer

Every five years

Question 4

Which of the following documents must freight brokers maintain to comply with federal regulations?

Accepted Answer

Records of freight contracts and agreements

Answer

A customer satisfaction report

Answer

A log of personal expenses

Answer

Inventory lists of shipments

Question 5

What can happen if a freight broker fails to comply with FMCSA regulations?

Accepted Answer

They may lose their operating authority

Answer

They will be issued a general warning

Answer

They will automatically be issued a new license

Answer

They will be required to lower their surety bond amount