COA 1-2019 PART 2 QUIZ

Recordkeeping and Post Entry Audit Guidelines in under what CMO

• CMO No. 2-2002

• CMO No. 18-2007

• CMO No. 11-2014

CMO No. 18-2007 — Rules and regulations implementing the Customs Voluntary

Disclosure Program pursuant to CAO 5-2007

• CAO 5-2007

• CAO 5-2005

• CMO 5-2007

• CAO 5-2017

E.O. No. 46, s. 2017 — Reviving the Post Clearance Audit Function of the Bureau

of Customs and Institutionalizing the Functions of the Financial Analytics and

Intelligence Unit of the _____________

• Department of Finance.

• Bureau of Customs

• Intelligence group

• none of the above

CAO No. 4-2004 — Amendment to CAO 5-2001 (Implementing Republic Act No. ____

: An Act amending certain provisions of Presidential Decree No. 1464,

Otherwise known as the Tariff and Customs Code of the Philippines,

• R.A 9034

• R.A 9135

• R.A 9136

• R.A 9105

CAO No. 5-2001 - Implementing Republic Act 9135: An Act Amending Certain

Provisions of Presidential Decree No. 1464, Otherwise known as . . .

• TCCP

• AHTN

• CMTA

• WTO Valuation System

Records to be Kept by the Bureau. The PCAG shall keep a database

of Importer and Customs Broker profiles which shall include a record of audit results

and the following information and papers: except:

• Articles of incorporation;

• Key importations;

• Risk assessments

• Other information and documents from the various officers of the

  Bureau that may be necessary in order to facilitate the conduct of

  post clearance audit.

Answer explanation

risk categories and various offices

Fraud - When the material false statement or act in

connection with the transaction was committed or omitted

knowingly, voluntarily and intentionally, as established by

clear and convincing evidence, the offender who is charged

for committing Fraud and is found guilty thereof, shall be

penalized with a fine equivalent to .....

• six (3) times of the

  revenue loss and/or imprisonment of not less than two (1)

  years but not more than eight (6) years

• six (6) times of the

  revenue loss and/or imprisonment of not less than two (2)

  years but not more than eight (8) years

• six (6) times of the

  profit loss and/or imprisonment of not more than two (2)

  years but not less than eight (8) years

• six (6) times of the

  profit loss and/or imprisonment of not more than two (3)

  years but not more than eight (8) years

What percentage of the revenue loss shall be imposed on an Inadvertent Error

amounting to simple Negligence.

• 10 %

• 15%

• 20%

• 25%

The importation for which

no records were kept and maintained shall have corresponding surcharge amounting to ______.

• (200%) on the dutiable value

• (20%) on the DV

• (20%) on the LC

• 200%) on the total d/t.

Re-assessment of the importations subject of audit, the

declared customs value being presumed inaccurate

applying therein the correct valuation method, tariff

classification, quantity and/or country of origin, as

applicable, based on available data;

• true

• false

Answer explanation

transactions value