19 CFR Part 159 · 5 questions
19 CFR 159.32 — Date of exportation.
Past customs broker license exam questions whose answer rests on 19 CFR 159.32. Drawn from 5 released sittings, April 2022 through October 2022. Every question below is a real released question with the answer CBP credited, the authority it rests on, and an explanation of why that answer is right.
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April 2022, Q57. If the commercial invoice is in a foreign currency, the foreign currency shall be converted to U.S. dollars using the proclaimed rate or certified rate or rates effective on the _____.
- ADate the duties, taxes, and fees are paid
- BCommercial invoice date
- CRelease date
- DDate of importation
- EDate of exportation
Show the answer and explanation
The correct answer is E because 19 CFR 159.32 explicitly states that the date of exportation governs currency conversion, as defined in §152.1(c). This aligns with the principle that the export date is the reference point for determining the exchange rate, not the import or payment dates. Options A, B, C, and D are incorrect because they refer to dates unrelated to the exportation event, which the regulation explicitly ties to the conversion process.
April 2025, Q77. If the commercial invoice is in a foreign currency, the foreign currency shall be converted to U.S. dollars using the proclaimed rate, certified rate, or rates effective on the _____.
- ADate the entry is filed
- BDate the entry summary is filed
- CDate of exportation
- DDate of importation
Show the answer and explanation
The correct answer is C because 19 CFR 159.32 directs that the date of exportation, as defined in §152.1(c), determines the exchange rate for converting foreign currency invoices. This aligns with the principle that the value of goods is assessed based on the transaction’s completion at export, not later administrative actions. Options A and B (filing dates) are incorrect because they relate to procedural steps after export, not the transaction’s actual timing. Option D (importation) is also incorrect because importation occurs after export, and the rate must reflect the export date to ensure consistency with the transaction’s economic reality.
April 2026, Q79. If the commercial invoice is in a foreign currency, the foreign currency shall be converted to U.S. dollars using the proclaimed rate or certified rate or rates effective on the _____.
- ADate of import
- BDate of entry
- CDate of export
- DDate of lading
Show the answer and explanation
The correct answer is C) Date of export because 19 CFR 159.32 explicitly ties currency conversion to the "date of exportation," as defined in §152.1(c). This aligns with customs rules that use the export date to ensure consistency in valuation, regardless of when the invoice is dated or when the goods arrive in the U.S. Options A, B, and D are incorrect because the date of import, entry, or lading do not determine the conversion rate under the cited authority.
October 2019, Q9. If the commercial invoice is in a foreign currency, the foreign currency shall be converted to U.S. dollars using the proclaimed rate or certified rate or rates effective on the_______ .
- ADate the duties, taxes and fees are paid B Commercial invoice date
- CRelease date
- DDate of importation
- EDate of exportation .
Show the answer and explanation
The correct answer is E because 19 CFR 159.32 explicitly states that the "date of exportation" is the basis for currency conversion, as defined in §152.1(c). This aligns with the regulation’s focus on the export date, not the invoice, release, or importation dates. Options B, C, and D are incorrect because they reference dates unrelated to the export event, which is the sole determinant under the cited authority.
October 2022, Q35. Please refer to the snippet of a CBP Form 7501 above. A shipment of powdered milk departed the Port of Auckland, New Zealand on June 1, 2022, bound for the United States on an ocean vessel. The ship arrived and was unladen on July 1, 2022, at the Port of Oakland, California. Entry was filed the same day and the cargo was released July 1, 2022. The invoice price for the powered milk is 98,532.84 NZD. It is appropriate to use the foreign currency daily exchange rate for calculations in submitting the entry / entry summary. Research shows that the daily exchange rate from New Zealand dollars to US dollars was 0.6471 on June 1, 2022. The daily exchange rate from New Zealand dollars to US dollars was 0.6187 on July 1, 2022. The invoice indicates that the shipment consists of 14,000 kilograms (Kg). The powdered milk is classified under 0402.91.7000 / 31.3¢ / Kg. Based upon the facts, what is the total entered value to be recorded in Block 35?
- A$60,962.00
- B$63,761.00
- C$65,645.00
- D$68,444.00
- E$98,533.00
Show the answer and explanation
The correct answer is B because the date of exportation for currency conversion is determined by the actual export date, which is June 1, 2022, not the arrival date in the U.S. (July 1, 2022). Under 19 CFR 152.1(c), the exchange rate applicable is the rate on the date of exportation, which is 0.6471 NZD to USD. Calculating 98,532.84 NZD × 0.6471 yields approximately 63,761.00. Other options incorrectly use the July 1 exchange rate (A, C, D) or fail to convert the invoice amount from NZD to USD (E).
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Start practising freeOther sections of Part 159 the exam tests
- 19 CFR 159.12 (5 questions)