15. At what level are HTS codes harmonized throughout the world?

1. 6 digits
2. 8 digits
3. 10 digits
4. They are not harmonized

16. Which of the following is not true when a company imports and exports?

1. The HTS is the building block for imports and statistical for exports
2. A company must exercise reasonable care
3. For imports, tangible and intangible (technology and software) goods are monitored whereas for exports only tangible goods are monitored.

17. Any of the following can be used to reduce duty costs except:

1. Temporary Import Bonds (TIB)
2. ATA Carnets
3. U.S. Goods Returned
4. Importer Self-Assessment

18. When calculating regional value content, the originating value of material is subtracted from the net cost to determine the %

1. True
2. False

19. The information necessary for calculating duties and fees on US imports includes all of the following except:

1. Tariff Classification
2. Value
3. Address of destination
4. Country of Origin

20. One of the objectives of the NAFTA Agreement is not:

1. Reduction of trading costs
2. Create effective procedures for shipping Chinese goods to NAFTA countries
3. Facilitate the cross-border movement of goods and services between NAFTA countries
4. Increase North Americas competitiveness in global markets
5. Allow for qualifying products to trade duty free in North America