BAHAMAS CUSTOMS BROKERAGE
TRAINING XAM WITH CORRECT ACTUAL
QUESTIONS AND CORRECTLY WELL
DEFINED ANSWERS LATEST ALREADY
GRADED A+
The concept of Deductive Value. - ANSWERS-Deductive
Value concept is based on sampling at least three
domesticated business houses involved in the import and
sale of an identical product, and determining which of those
local companies would have sold the aggregate amount of
that product on a given day. The company which fulfilled
that requirement, will then be used to cause deductions to
be made on the individual unit price. Such deductions
would include all expenses involved from getting the goods
off the docks up to the point of sale, inclusive of profit
margins. After such deductions, the unit price is
determined.
,The concept of Computed Value. - ANSWERS-Unlike
deductive value (which is based on local conditions), is
determined on conditions based internationally. It is based
on the total cost involved in the manufacturing, and the
total completion of the product. This includes, but not
limited to, cost of man hours, rent, electricity, etc.
Which is the most commonly used principle of the W.T.O.
Valuation Agreement? - ANSWERS-Transactional Value on
Price Actually Paid or Payable (PAPP)
Explain the acronym TRIPS Agreement. - ANSWERS-Trade
Related Aspects of Intellectual Property Rights
Every person shall on entering The Bahamas make a
declaration on which form? - ANSWERS-C.17 - Accompanied
baggage declaration
What is the exemption given to residents entering The
Bahamas? - ANSWERS-$500.00 - twice per year
If travelers' baggage does not arrive along with them, they
must complete which form? - ANSWERS-C.18 -
Unaccompanied baggage declaration
, Goods imported into the Customs authority can also be
entered by? - ANSWERS-The Owner of the goods.
Name the form of a Customs Brokers Licence. - ANSWERS-
C.53
The Comptroller of Customs may suspend or revoke licences
at any time. Give two (2) reasons why. - ANSWERS-(i) If the
Broker ceased to practice Customs Brokerage
(ii) If he/she does not conform to the conditions of the
licence.
Goods imported for personal use may be exempt from
duties based on two (2) conditions. - ANSWERS-1. Where
the goods are of a non-commercial nature within the limits
of the duty free allowances.
2. Where they are contained in the personal baggage of
passengers or crew of any aircraft or vessel arriving from
outside the Customs territory.
TRAINING XAM WITH CORRECT ACTUAL
QUESTIONS AND CORRECTLY WELL
DEFINED ANSWERS LATEST ALREADY
GRADED A+
The concept of Deductive Value. - ANSWERS-Deductive
Value concept is based on sampling at least three
domesticated business houses involved in the import and
sale of an identical product, and determining which of those
local companies would have sold the aggregate amount of
that product on a given day. The company which fulfilled
that requirement, will then be used to cause deductions to
be made on the individual unit price. Such deductions
would include all expenses involved from getting the goods
off the docks up to the point of sale, inclusive of profit
margins. After such deductions, the unit price is
determined.
,The concept of Computed Value. - ANSWERS-Unlike
deductive value (which is based on local conditions), is
determined on conditions based internationally. It is based
on the total cost involved in the manufacturing, and the
total completion of the product. This includes, but not
limited to, cost of man hours, rent, electricity, etc.
Which is the most commonly used principle of the W.T.O.
Valuation Agreement? - ANSWERS-Transactional Value on
Price Actually Paid or Payable (PAPP)
Explain the acronym TRIPS Agreement. - ANSWERS-Trade
Related Aspects of Intellectual Property Rights
Every person shall on entering The Bahamas make a
declaration on which form? - ANSWERS-C.17 - Accompanied
baggage declaration
What is the exemption given to residents entering The
Bahamas? - ANSWERS-$500.00 - twice per year
If travelers' baggage does not arrive along with them, they
must complete which form? - ANSWERS-C.18 -
Unaccompanied baggage declaration
, Goods imported into the Customs authority can also be
entered by? - ANSWERS-The Owner of the goods.
Name the form of a Customs Brokers Licence. - ANSWERS-
C.53
The Comptroller of Customs may suspend or revoke licences
at any time. Give two (2) reasons why. - ANSWERS-(i) If the
Broker ceased to practice Customs Brokerage
(ii) If he/she does not conform to the conditions of the
licence.
Goods imported for personal use may be exempt from
duties based on two (2) conditions. - ANSWERS-1. Where
the goods are of a non-commercial nature within the limits
of the duty free allowances.
2. Where they are contained in the personal baggage of
passengers or crew of any aircraft or vessel arriving from
outside the Customs territory.
