October 2020 (AM) — Question 17
Identify the INCORRECT statement regarding informal entries.
- AThe Importer of Record can be changed✓ CBP's answer
- BThe entry value may not exceed $2500
- CInformal entry will liquidate on the date of release
- DAn informal entry does not have a bond requirement
- EMerchandise that is subject to quota restraint cannot be filed as an informal entry
CBP's cited authority
§ 19CFR§128.24§ ACE Business Rules Sec. 7.1§ Pg 14
Answer and citations as published in CBP's official answer key for the October 2020 (AM) examination.
Reading answers is easy. The exam is 80 of these in 4.5 hours.
Pass rates run 12–30%. Find out in 15 minutes whether you'd clear the 75% line today — free, no signup.