TM 417C Midterm Exam

Petitions for tariff modifications that include tariff reduction and amendment to the nomenclature are covered by which one of the following Tariff Commission mandates?

• Safeguard

• Antidumping

• Advance ruling

• Flexible clause

To avail of the reduced tariffs on parts and components under the MVDP, the car manufacturer must be registered with what government agency?

• National Economic and Development Authority

• Tariff Commission

• Department of Transportation

• Board of Investments

This Section on Flexible Clause empowers the President the following prerogatives except for one which is to:

• Reduce tariff

• Impose an across-the-board tariff of 20%

• Modify the nomenclature

• Ban imports

When can the Tariff Commission revoke an Advance Ruling?

• When there is a judicial decision

• When there is a change in policy

• Upon the discovery of false and misleading information

• Whenever the Tariff Commission Chairman deemed it necessary

Identify which one of the following statements on the HS is incorrect.

• A systematically arranged product nomenclature

• An internationally-accepted coding system

• Standardize the conduct of international trade

• Developed and being maintained by the World Trade Organization (WTO)

Which one of the following choices is not among the uses of the HS?

• Tariff nomenclature

• SPS measures

• Statistical nomenclature

• Rules of Origin

The Harmonized System's General Interpretative Rules 1 to 4 are applied:

• In sequential order

• Selectively

• According to preferences

• Simultaneously

This government agency is tasked to conduct public hearings to afford parties of interest regarding petitions filed pursuant to the flexible clause provisions of the CMTA.

• NEDA

• Tariff Commission

• DTI

• DICT

Under Section 1608 of the CMTA, in which one of the following situations is the President authorized to modify tariff?

• When there is a need to cushion the effects of inflation

• If the government is suffering from budget deficit

• If the exports of the country is subjected to higher tariff in foreign countries

• When Congress is in recess

This Section allows the government to enter into trade agreements with other countries including tariff rate reductions.

• Flexible clause

• Promotion of foreign trade

• Advance ruling

• Trade remedy