Valuation: practice questions · page 2

26.A foreign subsidiary sells ore to its U.S. parent company. The price of the ore charged by the subsidiary to its parent is the price of ore on the New York Mercantile Exchange on the date the ore arrives in the United States. Select the statement that is TRUE regarding this price.

27.Given that the good satisfies all other applicable requirements of 19 CFR Part 182, what is the percentage of De minimis allowance for non-originating fibers and yarns in Textile and Apparel goods classified under chapters 61 through 63 claiming United States- Mexico-Canada Free Trade Agreement?

28.Which QUOTA is the one which permits a limited number of specified merchandise to be entered or withdrawn for consumption during specified periods?

29.Which part of CBP's Office of Trade is responsible for conducting the investigation of alleged evasion of antidumping duties?

30.Based upon a request from the U.S. Department of Agriculture (USDA), a Federal agency, CBP is investigating Valley Garlic (an importer of garlic) for the evasion of antidumping duties under the Enforce and Protect Act of 2015 (EAPA). Another importer of garlic, The Garlic Stand, is following the case because they belong to the same trade association as Valley Garlic. According to CBP regulations, what below entity is included in the “parties to the investigation” for this case?

31.What is the Most Favored Nation rate of duty applicable to dried paprika?

32.An importer is withdrawing sugar-containing products defined in 15 CFR 2015.2(a), for which preferential treatment is claimed under the United States-Mexico-Canada Agreement (USMCA) from a warehouse for consumption. What must the importer possess in order to claim the in-quota tariff rate?

33.Acme Company in the United States paid $7,000 to a Brazilian factory for a shipment of hula hoops, CIF terms of sale. The $7,000 consists of $6,500 for the toys and $500 for ocean freight and insurance. The Brazilian factory charged Acme Company $8,250 for the toys; however, because the Brazilian factory owed Acme Company $1,750, the Brazilian factory charged only $6,500 for the hula hoops. What is the transaction value?

34.Which of the following relationships does not qualify as “related persons” for the purpose of determining value?

35.No later than once every five years, a __________ occurs when the Secretary of the Department of Commerce determines whether antidumping or countervailable subsidies would be likely to continue or resume if an order were revoked or a suspended investigation were terminated.

36.Within how many days must an importer respond in writing to the Center director, if the importer disagrees with the Center director's written notification of a proposed rate advance and increased duties?

37.Commerce initiates a/an _____ investigation when a proper and complete petition is filed on behalf of an affected United States industry, alleging that foreign merchandise is being sold in the United States at “less than fair value” and that such sales are materially injuring, or threatening to materially injure, a United States industry.

38.Which of the following is NOT an addition to the price actually paid or payable?

39.Gemma Jones purchases 10,000 glass vases from Sklyana Vasa Company (SVC). The wholesale price charged by SVC is $3.00 per vase with the following volume discounts: Quantity Range Discount 0 – 1,000 vases Full price 1,001 – 5,000 vases 5% discount 5,001 – 15,000 vases 10% discount 15,001 – 25,000 vases 15% discount Jones receives the shipment and finds that 100 of the vases are broken. She contacts SVC who agrees not to charge her for the broken vases. What is the transaction value for the vases?

40.Which of the following will NOT be included in the appraisement of merchandise under transaction value?

41.An Irish golf accessory manufacturer, acting as the importer of record, imports golf balls to give away as a promotion at a tournament it is sponsoring. Because there is no sale at the time of import, what value must be listed on the invoice?

42.Which regulation defines methodologies that may be accepted by CBP for the reasonable apportionment of the total value of an assist?

43.Which of the following costs should not be added to the price actually paid or payable to determine the transaction value for an entry of luxury watches?

44.What is the general rate of duty for barley seeds?

45.Which of the following is NOT an acceptable basis of appraisement for imported merchandise?

46.Seller S offers the following quantity discounts on the goods purchased by the importer prior to their importation. - 1 to 49 units - no discount - 50 to 99 units - 5% discount - Over 100 units - 10% discount In the first case, importer A purchases and imports 60 units in a single shipment. The invoice price reflects a 5% discount. In the second case, importer B purchases 60 units in a single transaction at a price which reflects a 5% discount but imports them in 3 separate shipments each comprising 20 units. What is the customs value of the imported merchandise in both cases?

47.A shipment of leather handbags manufactured in India and subject to absolute quota arrives in the U.S. You find that the quota for this merchandise from India is closed. Which of the following describes the suitable action for the importer?

48.CBP initiates an investigation of a claim that an importer of merchandise within the scope of antidumping or countervailing duty (AD/CVD) orders is evading those orders. Through its investigation, CBP decides there is reasonable suspicion that the importer has entered covered merchandise into the customs territory of the U.S. through evasion. Which of the following actions would CBP NOT take after deciding there is reasonable suspicion of evasion?

49.You are responsible for a shipment of goods that are subject to different rates of duty and are packed together or mingled such that the quantity or value of each class of goods cannot be readily ascertained by CBP officers (without physical segregation of the shipment or the contents of any entire package thereof) by verifying the packing lists at the time of entry. Which of the following is TRUE regarding the rate of duty unless the consignee or his agent segregates the goods?

50.Which of the following is TRUE with respect to imported merchandise after the U.S. International Trade Commission (ITC) finds a violation of section 337 of the Tariff Act of 1930 (19 USC 1337) and issues an exclusion order, as implemented by CBP under 19 CFR 12.39?