Raptolutions in Pole Garden, Hawaii, has sold 200 jars of petroleum jelly from their warehouse to Shadow

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Question:

Raptolutions in Pole Garden, Hawaii, has sold 200 jars of petroleum jelly from their warehouse to Shadow Works in Tofty, Quebec. The petroleum jelly is manufactured in Ireland and is flown to Canada from Raptolutions warehouse in Hawaii. Each jar has a unit value of US$7.63 and the US exchange rate for the date of direct shipment is 1.296. The total value of the shipment is $1,526.00 DAP (Shadow Works, Tofty Quebec). The transportation charges were US$150.00 from the place of direct shipment (Hawaii) to Canada. The current rate of duty which applies to this shipment is the MFN rate at 7%

Question 1

What is shown in field 27 of the B3?

Question 1 options:

	2712.90.00.10
	2712.10.00.00
	2007.10.00.00
	2007.91.00.12

Question 2

The transportation charge of US $150.00 can be deducted from the total shipment value when calculating the value for currency conversion?

Question 2 options:

	True
	False

Question 3

What amount is indicated in field 9 of the B3?

Question 3 options:

	1526.00
	150.50
	200.10
	1783.30

Question 4

What amount is indicated in field 38 of the B3?

Question 4 options:

	$124.83
	$231.79
	$142.66
	$267.50

Question 5

What amount is indicated in field 41 of the B3?

Question 5 options:

	$1,783.30
	$1676.00
	$1500.83
	$1,908.13

Question 6

What amount is indicated in field 42 of the B3?

Question 6 options:

	$1,908.13
	$95.41
	$1500.83
	$1,783.30

Question 7

Only a customs broker can post security so that goods can be released prior to the payment of duties and taxes.

Question 7 options:

	True
	False

Question 8

The maximum security amount that customs brokers must post to have goods released prior to the payment of duties and taxes is ______________________.

Question 8 options:

	10 million dollars
	1 million dollars
	5 million dollars
	20 million dollars
	15 million dollars

Question 9

A PARS release request may only be used for goods travelling by road.

Question 9 options:

	True
	False

Question 10

The maximum number of days before the goods arrive at the border a PARS release request can be submitted to CBSA is ____.

Question 10 options:

	30
	0
	40
	20
	15

Question 11

Final accounting must be submitted to CBSA within _______ days of the release of the goods.

Question 11 options:

	7
	12
	3
	9
	5

Question 12

What is the value for duty of goods that are sold to an importer in Canada for 93,000 euros with an exchange rate of 0.57?

Question 12 options:

	$163157.90
	$98,301.00
	$5,301.00
	$93,530.10
	$53,010.00

Question 13

Based on the information from question 12, how much duty will be applicable if the duty rate is 5.5%?

Question 13 options:

	$5,144.16
	$8,030.55
	$291.56
	$2,915.55
	$8973.68

Question 14

Based on the information from questions 12 and 13, how much GST will be applicable?

Question 14 options:

	$2,650.50
	$448.68
	$4,946.83
	$257.21
	$145.78

Question 15

When is Field 7 of Form B3, Mode of Transport, completed?

Question 15 options:

	Completed if the value of the shipment is greater than US$2,000 and the shipment is exported from the United States.
	Completed if the value of the shipment is greater than Cad$2,500 and the shipment is exported from the United States.
	Completed if the value of the shipment is greater than US$2,500 and the shipment is exported from the United States.
	Completed if the value of the shipment is greater than Cad$2,000 and the shipment is exported from the United States.

Question 16

What is the accelerated commercial release operations support system (ACROSS)?

Question 16 options:

	ACROSS is the CBSA system that allows importers and customs brokers to electronically transmit release and invoice data to the CBSA.
	ACROSS is the system that allows exporters to freeze invoice data to CBSA.
	CBSA system sends data to ACROSS for surveillance purposes.
	CBSA uses ACROSS system manage importers and customs brokers and invoice them.

Question 17

Describe the difference between an RMD release request and a PARS release request.

Question 17 options:

	No difference, shipment information is the same.
	You don't need to worry, when you arrive at the border, everything will be fine.
	The difference between RMD and PARS, RMD the goods are on hand to be released, PARS the goods have not yet arrived.
	Documentation of any or all conveyance isn't necessarily required, remember we should be able to move shipments freely under USMCA or the old NAFTA.