PMI Colleges Tariff 7: Departmental Examination Aspric Nasudi I

PMI Colleges
Quezon City
Tariff 7
Departmental Examination
ASPRIC NASUDI I
Name: Score: __________
Year & Section:
Date: ___________
Instruction: Read and analyze each question and choose the best answer. Goodluck!
Write your answer here:
1. 6. C 11. B 16. C 21. D

A
2. 7. C 12. B 17. A 22. A
A
3. 8. D 13. A 18. D 23. C
A
4. 9. A 14. B 19. B 24. B
C
5. 10. D 15. C 20. A 25. B

B
An importer paid P 139,290.00 as VAT for his shipment. The excise tax was pegged at 20% of
its CIF value. If the duty and miscellaneous expense was 15% ad valorem and P 10,750.00,
respectively, determine the following:
1.Total landed cost

a) P 1,379,990.36 b) P 879,973.36 c) P 1,099,376.63 d) P 990,379.63
2.Dutiable Value
a) P 765,765.76 b) P 923,923.92 c) P 809,809.81 d) P 851,851.85
3.Customs Duty
a) P 135,556.00 b) P 115,115.00 c) P 142,142.00 d) P 127,778.00
A shipment, subject to payment of excise tax paid total value added tax in the amount of P
192,000.00 while the customs duty amounted to P 112,500.00 based on duty rate of 10% ad
valorem. If the total misc. expense was computed at P 12,500.00, compute the following:
4.Total Landed Cost
a) P 1,250,000.00 b) P 1,520,000.00 c) P 1,500,000.00 d) P

1,000,000.00
5.Total Excise Tax
a) P 350,000.00 b) P 300,000.00 c) P 400,000.00 d) P
450,000.00
6.Total Brokerage Fee, inclusive of VAT
a) P 7,231.00 b) P 7,312.00 c) P 6,456.00 d) P 6,645.00
An importation paid total VAT of Php207,900.00 (without ET) and ocean freight charges
of $1,408.70. The total miscellaneous expense was computed at Php7,500.00.
Insurance was based on 4 % of the total FOB and rate of duty was 15% ad valorem.
Compute the following based on E/R of Php42.50 /$1.00:
7.Total Landed Cost

a) P 1,725,500.00 b) P 1,650,000.00
c) P 1,732,500.00 d) P 1,750,000.00
8.Custom Duty
a) P 224,086.96 b) P 214,239.13
c) P 225,000.00 d) P 214,304.45
9.Total FOB Value

a) $ 29,872.76 b) $ 28,500.43
c) $ 30,870.76 d) $ 32,582.13
10. A shipment categorizes as general cargo consigned to BPT Trading arrived at

POM with total CFR Value of $30,750.00. The ocean freight charges indicated in the
commercial invoice amounted to $2,750.00 while the covering bill of lading shows
freight of $2,800.00. If no local insurance was secured by the importer, compute the
dutiable value used as basis in computing the customs duty. E/R at Php42.50/US$.
a)Php1,489,600.00 c) Php1,332,800.00
b)Php1,389,600.00 d) Php1,432,800.00
11. Chemical X Trading, imported from Taiwan 2x40FCL containing various

chemicals for its manufacturing operations. Invoice shows total FOB value of
$18,500.00. Upon arrival of the goods, importer paid the ocean freight charges based
on freight rate of $550.00 per TEU. A marine insurance policy was procured locally
whereby the importer paid insurance premium of Php24,937.50 and was issued an
official receipt including an insurance certification. Based on duty rate of 10%,
determine the customs duty for subject shipment. E/R at Php42.50/US$.
a)Php94,068.75 c) Php90,468.75
b)Php93,593.75 d) Php95,393.75
12. M&M Foods imported from Xiamen, China 3x20FCL reefer vans consisting of
frozen meat with total CIF value of $15,750.00. The covering invoice shows ocean
freight charges of $1,200.00 per container. However, upon lodgement of the IEIRD, no
certification from the shipping line was presented to the BOC showing actual freight
paid. Determine the dutiable value to be assessed by customs. E/R at Php42.50/US$.
a)Php767,625.00 c) Php737,256.00
b)Php787,652.00 d) Php707,625.00
Boysen Paints imported 100 drums of denatured alcohol with total CFR value of
$18,275.00. The commercial invoice reveals total ocean freight charges of $1,500.00
while the bill of lading indicated the ocean freight of $1,650.00. The importer secured
local insurance and paid a premium of Php11,437.50. The insurance certificate together
with the official receipt was presented to customs upon filing of the entry. E/R at
Php42.50/US$. Determine the following:
13. Total FOB Value
a) $16,625.00 b) $16,550.00 c) $16,775.00 d)
$16,750.00
14. Dutiable Insurance per CMO 22-2007.
a) $83.88 b) $269.12 c) $332.50 d) $228.00
15. Dutiable Freight as component of the Dutiable Value.

a) $1,500.00 b) $1,155.00 c) $1,650.00 d)
$1,050.00
16. Total Dutiable Value
a) $18,208.88 b) $18,975.00 c) $18,382.50 d)
$18,694.12
17. A shipment of 1x40FCL STC: Various Ceramic Tiles arrived at the POM. The
customs broker filed a consumption entry and declared the import processing fee at
Php750.00. If the brokerage fee and dutiable value had an aggregate value of
Php705,925.00, how much is the brokerage fee per CAO 1-2001, net of VAT?
a)Php5,656.00 c) Php5,925.00
b)Php7,925.00 d) Php6,565.00
A shipment of 1x20FCL STC: 25-units of automatic vending machines arrived at the

MICP from Korea. If the dutiable value and customs duty had a combined amount of
Php360,500.00, compute the following if the importer filed an IED and paid an advance
duty of Php11,750.00.
18. Customs Duty if Rate of Duty is 3%

a)Php10,850.00 b) Php12,500.00
c) Php10,500.00 d) Php11,750.00
19. Final duties, taxes and other charges if total miscellaneous expense was valued
at Php7,500.00 and E/R at Php42.00/US$.
a)Php51,650.00 b) Php43,885.00
c) Php49,810.00 d) Php50,550.00
A shipment arrived at NAIA from Indonesia consisting of 50 boxes of various apparels.

Each box has a dimension of 30 cm x 50 cm x 90 cm. The air waybill shows actual
gross weight of 1,050 kgs while the IATA freight rate is at $1.75/kg. Invoice indicated
total CPT value of $12,325.75 while the total air freight charges declared at SAD was at
$1,250.50. E/R at Php42.50/US$. Compute the following:
20.Total IATA Freight Charge

a) $1,250.50 b) $1,837.50 c) $1,378.13 d) $1,968.75
21. Dutiable Insurance per CMO 22-2007

a) $207.41 b) $218.91 c) $209.71 d) $221.51
22. Total Customs Value

a) $10,947.55 b) $10,367.55 c) d) $11,075.25
$11,488.25
23. Total Dutiable Value
a) Php583,779.39 b) Php563,783.96 c) Php549,380.76 d)
Php553,873.50
12,000 meters of cotton woven fabric arrived at the South Harbor valued at $1.50 per
yard, CFR, Manila which included handling charges of $0.10 per ft. Subject shipment
was loaded into 2x40’ containers & the ocean freight was paid based on $750.00 per
TEU. Compute the following:
24. Total Ocean

Freight
a) $1,500.00 b) $3,000.00 c) $2,250.00 d)
$4,500.00
25. Total CFR Value
a) $19,680.00 b) c) d)
$16,890.00 $18,960.00 $17,860.00
********** NOTHING FOLLOWS **********

PMI Colleges Tariff 7: Departmental Examination Aspric Nasudi I

Uploaded by

Copyright:

Available Formats

PMI Colleges Tariff 7: Departmental Examination Aspric Nasudi I

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

PMI Colleges Tariff 7: Departmental Examination Aspric Nasudi I

Uploaded by

Copyright:

Available Formats

PMI Colleges

Write your answer here:

1. 6. C 11. B 16. C 21. D

2. 7. C 12. B 17. A 22. A

5. 10. D 15. C 20. A 25. B

1.Total landed cost

4.Total Landed Cost

a) P 1,250,000.00 b) P 1,520,000.00 c) P 1,500,000.00 d) P

7.Total Landed Cost

9.Total FOB Value

10. A shipment categorizes as general cargo consigned to BPT Trading arrived at

11. Chemical X Trading, imported from Taiwan 2x40FCL containing various

15. Dutiable Freight as component of the Dutiable Value.

A shipment of 1x20FCL STC: 25-units of automatic vending machines arrived at the

18. Customs Duty if Rate of Duty is 3%

A shipment arrived at NAIA from Indonesia consisting of 50 boxes of various apparels.

20.Total IATA Freight Charge

21. Dutiable Insurance per CMO 22-2007

22. Total Customs Value

24. Total Ocean

********** NOTHING FOLLOWS **********

You might also like

NOTHING FOLLOWS