Customs Declaration Annex Form (CDAF) Quiz
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Customs Declaration Annex Form (CDAF) Quiz

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@HandierJasmine

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Questions and Answers

What is the primary purpose of a Certificate of Origin?

  • To provide proof of payment
  • To prove the quality of the goods
  • To determine the import duty rate
  • To certify the country of origin of the merchandise (correct)

    • Which countries typically require a Certificate of Origin?

  • Developing countries only
  • Only countries with a Free Trade Agreement
  • All countries that participate in international trade
  • Commonwealth countries and developed countries with GSP (correct)

    • Who can issue a Certificate of Origin?

  • Only the government of the exporting country
  • Any third-party logistics provider
  • Authorized agencies, such as the Chamber of Commerce (correct)
  • The exporter themselves

    • What is a Bill of Exchange also known as?

    <p>Foreign Draft</p> Signup and view all the answers

    What are the two main functions of a Bill of Exchange?

    <p>To collect payment and exchange credit</p> Signup and view all the answers

    When is a Bill of Exchange payable at sight?

    <p>When the Bill of Exchange is presented for payment</p> Signup and view all the answers

    What happens when a Bill of Exchange is payable at sight?

    <p>It becomes a demand for payment and a receipt for payment</p> Signup and view all the answers

    What is the purpose of requiring a Certificate of Origin at customs clearance?

    <p>To determine the country of origin for duty calculation</p> Signup and view all the answers

    What is a prerequisite for obtaining a Certificate of Origin?

    <p>The goods must have substantial value addition</p> Signup and view all the answers

    What is the relationship between the Bill of Exchange and the banking channel?

    <p>The Bill of Exchange is used to facilitate payment through the banking channel</p> Signup and view all the answers

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