CustomsBrokerLicenseExam

Home / Topics / Valuation

Valuation

Counts toward CBP's Valuation, Appraisement and Duty Assessment category. 40 of the 480 released past questions are on this topic.

Where to look: 19 CFR Part 152.

Drill this topic, 90 seconds a question

Practice questions

  1. Which section of 19 CFR is titled "Furnishing value information to importer"?

    1. § 152.101
    2. § 152.17
    3. § 152.23
    4. § 152.26
    Answer

    D. § 152.26 in Part 152 (classification and appraisement of merchandise) is titled "Furnishing value information to importer".

    19 CFR › Part 152 › § 152.26

  2. Which section of 19 CFR is titled "Basis of appraisement"?

    1. § 152.100
    2. § 152.101
    3. § 152.103
    4. § 152.104
    Answer

    B. § 152.101 in Part 152 (classification and appraisement of merchandise) is titled "Basis of appraisement".

    19 CFR › Part 152 › § 152.101

  3. A buyer pays for the packing of goods before shipment to the United States. How does 19 CFR 152.103(b) treat those costs?

    1. They are excluded as customs duties payable by reason of importation
    2. They are excluded as reasonable costs incurred after importation
    3. They are added to the price actually paid or payable as packing costs incurred by the buyer
    4. They are disregarded as a rebate made after the date of importation
    Answer

    C. Packing costs incurred by the buyer are the first listed addition to the price actually paid or payable.

    19 CFR 152.103(b)(1)(i)

  4. The buyer bought materials from an unrelated seller and supplied them to the producer as an assist. What is the value of the assist under 19 CFR 152.103(d)(1)?

    1. The price of the finished imported merchandise
    2. The cost of its acquisition, including transportation costs to the place of production
    3. Its resale value in the United States
    4. Zero, because the buyer supplied it free of charge
    Answer

    B. For materials acquired from an unrelated seller, the assist is valued at the cost of acquisition, plus transportation costs to the place of production.

    19 CFR 152.103(d)(1)

  5. A contract price for equipment includes technical help provided in the United States after importation, and the contract breaks out its cost. How is that help treated under 19 CFR 152.103(i)(1)?

    1. It is included because the buyer cannot purchase the equipment without that service
    2. It is included as an assist
    3. It is included as a selling commission
    4. It is excluded because it is a reasonable cost for technical assistance after importation that is identified separately
    Answer

    D. Reasonable charges for technical assistance after importation are excluded from transaction value if identified separately from the price.

    19 CFR 152.103(i)(1)(i)

  6. Under 19 CFR 152.103(j)(2)(i), when is the transaction value between a related buyer and seller acceptable?

    1. If the circumstances of sale show that the relationship did not influence the price actually paid or payable
    2. If the seller is a corporation rather than an individual
    3. If the buyer pays the seller within 30 days of importation
    4. If the importer files a protest within 90 days
    Answer

    A. A related-party transaction value is acceptable if the relationship did not influence the price, or if the value closely approximates a test value.

    19 CFR 152.103(j)(2)(i)

  7. Under 19 CFR 152.105(c)(2), if merchandise is sold in its imported condition but not at or about the date of importation, sales count only if they occur before the close of which day after importation?

    1. The 180th day
    2. The 90th day
    3. The 30th day
    4. The 60th day
    Answer

    B. Deductive value looks to sales after importation but before the close of the 90th day after importation.

    19 CFR 152.105(c)(2)

  8. Computed value is the sum of materials and fabrication, profit and general expenses, any assist not already included, and what other element under 19 CFR 152.106(a)?

    1. The customs duties payable on importation
    2. The packing costs
    3. International freight and insurance
    4. Selling commissions paid by the importer
    Answer

    B. Section 152.106(a) lists four elements: materials and fabrication, profit and general expenses, any assist, and the packing costs.

    19 CFR 152.106(a)(4)

Past exam questions on this topic