Here is an example of application of the computed value method in customs valuation as tested on a previous Customs Broker License Exam. April 2001 Test 41) Laminate Industries in Seattle, Washington, sells laminated plywood sheets to the building and home improvement industries. It purchases its large plywood sheets from its parent company, Canadian Laminates, [...]
Here is an example of the application of the deductive value method in customs valuation as tested on a previous Customs Broker License Exam. October 1999 Test Question 5 Wally’s Watermelons, a large agricultural market in Tucson, Arizona, imports, through the U.S. Customs port of Nogales, Arizona, 500 cartons of seedless watermelons on consignment from [...]
The references necessary to take the October 2020 Customs Broker License Exam were: - Harmonized Tariff Schedule of the United States (2019 Basic Edition, No Supplements) - Title 19, Code of Federal Regulations (2019 Revised as of April 1, 2019, Parts 1 to END) - Instructions for Preparation of CBP Form 7501 (December 2019) - [...]
According to CBP, exam topics typically include: Entry; Classification; Trade Agreements; Valuation; Broker Compliance; Power of Attorney; Marking; Drawback; Bonds; Foreign Trade Zones; Warehouse Entries; Intellectual Property Rights; and other subjects pertinent to a broker's duties. Further, the Customs Broker License Examination is a four and half hour long, open book test, consisting of 80 [...]
