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Broker fees and reports: which statement is false?

May 2024 examBroker ComplianceQuestion 1 of 80

Which of the following statements is FALSE ?

How to get there

There is no annual status report. The status report is filed every third year (§ 111.30(d)), and the annual user fee is tied to the national permit, not to every licensed broker. Statement D is false. The answer is D.

Why the other choices are wrong

A) Only national permit holders pay the annual user fee: true, § 111.96(c).
B) All brokers file the triennial report and pay its fee: true, §§ 111.30(d), 111.96(d).
C) License application fee depends on the applicant's form: true. $300 for an individual, $500 for an organization (§ 111.96(a)).
Tip
Broker fee list: exam $390; license application $300 (individual) or $500 (entity); national permit application $100; annual permit user fee (amount published yearly; non-payment revokes the permit); triennial report $100.

Sources: 19 CFR 111.96, 111.30(d) (eCFR).

CBP answer key: Answer D · 19 CFR 111.96Source: CBP past exams ↗