(EASY) PEZA, NIRC, ANTI AGRICULTURAL ECONOMIC SABOTAGE ACT, RA 9280, PRC RESOLUTION ABOUT THE BOARDS, Code of Ethical Standards for Customs Brokers, CPD ACT

Which law established the Philippine Economic Zone Authority (PEZA)?

R.A. 7916

The main goal of PEZA is to promote __________.

Foreign and local investment in export-oriented industries

Enterprises registered under PEZA enjoy which of the following incentives?

All of the above

Under the Special Economic Zone Act, PEZA operates as a/an __________.

Attached agency of the Department of Trade and Industry

Which of the following best defines an "eco-zone" under R.A. 7916?

A selected area with specialized economic incentives for investors

The National Internal Revenue Code primarily governs the collection of __________.

Internal taxes

The government agency tasked with implementing the NIRC is the __________.

Bureau of Internal Revenu

Which tax is NOT covered under the NIRC?

Customs Duty

What law amended the old Internal Revenue Code to form the NIRC of 1997?

R.A. 8424

The NIRC provides rules for tax exemptions, assessments, and __________.

Penalties for tax evasion

Republic Act No. 10845 is known as the __________.

Anti-Agricultural Economic Sabotage Act

The main objective of R.A. 10845 is to protect __________.

Local farmers and the agricultural sector

Under R.A. 10845, large-scale smuggling of rice is considered economic sabotage when the value exceeds __________.

₱10 million

The penalty for economic sabotage under R.A. 10845 includes __________.

Life imprisonment and fines twice the value of the goods

The Anti-Agricultural Economic Sabotage Act aims primarily to ensure __________.

Food security and fair market trade

Which of the following agencies is directly involved in regulating exports and imports in ecozones?

PEZA

Tax incentives provided under PEZA must be coordinated with which law?

National Internal Revenue Code

The act of illegally importing agricultural goods without proper documentation falls under which offense?

Agricultural economic sabotage

The authority that issues regulations interpreting the National Internal Revenue Code is the __________.

Bureau of Internal Revenue

One of the primary policy objectives of PEZA is to create employment through __________.

Industrial and export-oriented investments

What is the main purpose of R.A. 9280?

To regulate customs brokerage practice and ensure professional standards

Under R.A. 9280, the profession of customs brokerage is regulated by the __________.

Professional Regulation Commission (PRC)

The Professional Regulatory Board for Customs Brokers (PRBCB) was created under which law?

R.A. 9280

The minimum qualification for a customs broker applicant includes which of the following?

Must be a graduate of a four-year course in customs administration

The PRBCB is composed of __________ members appointed by the President of the Philippines upon recommendation of the PRC.

3

The customs broker’s license is valid for __________ years, subject to renewal upon compliance with PRC rules.

3

Which of the following is a ground for revocation or suspension of a customs broker’s license?

Conviction of a crime involving moral turpitude

The customs broker’s oath emphasizes loyalty to the Republic of the Philippines and the __________.

Code of Ethics

Which of the following statements best describes a customs broker’s role under R.A. 9280?

A licensed professional who transacts business with the Bureau of Customs for importers/exporters

Under R.A. 9280, only a registered and licensed customs broker may sign the __________.

Import entry declaration

Which agency supervises and regulates all Professional Regulatory Boards in the Philippines?

Professional Regulation Commission (PRC)

The functions of a Professional Regulatory Board include all EXCEPT:

Promoting tax exemptions

The PRC resolution that implements the Continuing Professional Development (CPD) requirements was issued pursuant to __________.

R.A. 10912

The Code of Ethical Standards for Customs Brokers was adopted to uphold __________.

Professional integrity and competence

A customs broker must avoid conflict of interest when:

Representing clients with competing business interests

According to the Code of Ethics, a customs broker must always maintain the confidentiality of __________.

Client’s trade and shipment information

A customs broker’s relationship with the Bureau of Customs must be based on __________.

Compliance, honesty, and cooperation

The Code of Ethical Standards for Customs Brokers requires professionals to continually improve through __________.

Continuing Professional Development (CPD)

The law that created the Philippine Economic Zone Authority is known as:

R.A. 7916

The main purpose of PEZA is to:

Promote investments in export-oriented industries

PEZA was established under the supervision of which government department?

Department of Trade and Industry

PEZA-registered enterprises are generally entitled to:

Tax exemptions and fiscal incentives

The National Internal Revenue Code (NIRC) is also known as:

R.A. 8424

The NIRC primarily governs:

Internal taxation system of the Philippines

Which government agency is tasked with implementing the NIRC?

Bureau of Internal Revenue

Under the NIRC, taxpayers who fail to pay taxes may face:

Imprisonment or fines

R.A. 10845 is known as the:

Anti-Agricultural Economic Sabotage Act

The Anti-Agricultural Economic Sabotage Act penalizes:

Large-scale smuggling of agricultural products

Under R.A. 10845, economic sabotage refers to smuggling involving goods valued at:

₱50,000,000 or more

Which agency is responsible for enforcing R.A. 10845?

Bureau of Customs

The primary goal of R.A. 10845 is to:

Protect farmers and the economy from unfair trade

PEZA was created to transform selected areas into:

Ecozones for industrial and commercial use

The NIRC authorizes the Commissioner of Internal Revenue to:

Issue regulations for tax enforcement

Income tax is a levy imposed under the:

NIRC

Under R.A. 10845, agricultural smuggling includes:

Unauthorized importation of agricultural commodities

Which of the following is NOT covered by PEZA incentives?

Agricultural land tenants

The NIRC empowers the BIR to assess and collect:

Internal revenue taxes

The Anti-Agricultural Economic Sabotage Act aims to safeguard:

Agricultural producers and the national economy

The main office of PEZA is located in:

Makati City

Tax amnesty and exemptions are legal provisions found under:

NIRC

Under R.A. 10845, smuggling that causes massive loss to farmers is considered:

Economic sabotage

PEZA-registered enterprises enjoy incentives under:

R.A. 7916 and related amendments

The law strengthening penalties for agricultural smuggling took effect in:

2016

R.A. 9280 is also known as the:

Customs Brokers Act of 2004

The main objective of R.A. 9280 is to:

Regulate and modernize the practice of customs brokerage

The Chairperson and Members of the Board for Customs Brokers are appointed by the:

President of the Philippines

One requirement for the issuance of a certificate of registration as a customs broker is:

Filipino citizenship

A customs broker is required to affix his or her:

PRC registration number and signature on official documents

The grounds for suspension or revocation of a customs broker’s license include:

Gross negligence or dishonesty

The oath of a customs broker shall be administered by:

Any PRC Commissioner or authorized officer

The PRC resolution governing the continuing professional development (CPD) program was issued pursuant to:

R.A. 10912

The Code of Ethical Standards for Customs Brokers emphasizes:

Professional integrity and confidentiality

The Code of Ethics requires customs brokers to avoid:

Conflicts of interest and deceptive acts

According to the Code of Ethics, a customs broker must treat client information as:

Confidential and privileged

PRC resolutions provide that every regulatory board shall:

Exercise quasi-judicial powers over licensed professionals

The Board for Customs Brokers may inspect school facilities that offer:

Customs Administration courses

A customs broker’s primary obligation to society is to:

Uphold the law and public interest

Under R.A. 9280, one disqualification for licensure is:

Conviction of a crime involving moral turpitude

A customs broker who reveals confidential information without authority violates the:

Code of Ethical Standards for Customs Brokers

The Philippine Economic Zone Authority (PEZA) was created to attract investments and promote industrialization through ecozones. These zones are designed to provide fiscal incentives, simplified import-export procedures, and infrastructure support to investors. Which of the following statements best describes a key privilege of PEZA-registered enterprises under R.A. 7916?

Eligibility for income tax holiday and simplified customs procedures

Under the National Internal Revenue Code (NIRC), all persons subject to internal revenue taxes are required to register with the Bureau of Internal Revenue. Registration ensures proper identification and monitoring of taxpayers. Which of the following best explains the purpose of taxpayer registration under the NIRC?

It serves as a prerequisite for the issuance of tax identification numbers.

R.A. 10845, or the Anti-Agricultural Economic Sabotage Act, declared large-scale agricultural smuggling as an act of economic sabotage. This law was enacted in response to significant revenue losses and harm to local farmers caused by smuggling of high-value agricultural products. Which of the following is the legal threshold for determining “large-scale” agricultural smuggling?

Goods valued at ₱50 million or more

The Customs Brokers Act of 2004 (R.A. 9280) professionalized the practice of customs brokerage in the Philippines. It established minimum qualifications, licensure examinations, and ethical standards for practitioners. What is the main function of a licensed customs broker as recognized under R.A. 9280?

To represent clients before the Bureau of Customs in all customs-related transactions

Under PRC Resolutions, the Professional Regulatory Boards are empowered to investigate violations of professional standards. This authority ensures that licensed practitioners maintain competence and integrity. Which of the following powers may be exercised by a Professional Regulatory Board?

Conducting administrative hearings and recommending disciplinary sanctions

The Code of Ethical Standards for Customs Brokers emphasizes professionalism and public accountability. A customs broker who intentionally misdeclares imported goods to favor a client violates both legal and ethical duties. Which ethical principle was primarily breached?

Principle of transparency and fairness

The Continuing Professional Development (CPD) Act of 2016 (R.A. 10912) was enacted to promote lifelong learning among professionals. It requires the accumulation of CPD units for the renewal of professional licenses. Which statement correctly reflects the purpose of the CPD Law?

To ensure continued competence and ethical standards in the profession

A customs broker failed to renew his license for several years without valid reason. Under R.A. 9280, what is the possible administrative consequence of this act?

Suspension or removal from the professional roster after due process

The Anti-Agricultural Economic Sabotage Act treats agricultural smuggling as a non-bailable offense when classified as economic sabotage. This was intended to deter organized crime and protect the livelihood of farmers. Which of the following is a key rationale behind this classification?

The offense involves moral turpitude and loss of state revenue

The NIRC authorizes the Commissioner of Internal Revenue to issue rulings and interpret tax laws. These rulings guide taxpayers and prevent administrative confusion. Which statement accurately describes the binding effect of such rulings?

They are binding on both the BIR and taxpayers who rely in good faith.

Under R.A. 7916, ecozone developers and enterprises must comply with labor, environmental, and safety standards. However, they are granted operational autonomy within the zones. Which of the following agencies exercises regulatory supervision over PEZA?

Department of Trade and Industry

The PRC Resolution implementing R.A. 9280 states that no person may practice customs brokerage without a valid certificate of registration. What is the effect of engaging in customs transactions without a PRC license?

It constitutes illegal practice and is subject to criminal liability.

A customs broker publicly posts derogatory comments about a client on social media. Under the Code of Ethical Standards for Customs Brokers, which ethical principle is violated?

Principle of loyalty and confidentiality

The CPD Act of 2016 mandates professionals to undertake learning activities. However, certain exemptions may be granted under specific PRC guidelines. Which group may qualify for temporary exemption from CPD requirements?

All of the above

Under R.A. 9280, the Professional Regulatory Board for Customs Brokers may recommend the suspension of a license for unethical conduct. Which of the following is not considered unethical?

Refusal to sign documents believed to be illegal

R.A. 10845 mandates the creation of an inter-agency body to combat agricultural smuggling. Which of the following government agencies is not a member of this task force?

Professional Regulation Commission

The NIRC grants the Commissioner the authority to compromise tax liabilities under certain conditions. Which of the following is not a ground for compromise?

Clear evidence of fraud

The Code of Ethics requires that customs brokers maintain professional independence. What is the best example of violating this principle?

Accepting gifts or favors that may influence official judgment

R.A. 7916 promotes balanced development between industrial and rural areas through the creation of ecozones. Which of the following best illustrates this policy objective?

Establishing export processing zones in provinces

Under the CPD Act, a professional found to have falsified CPD certificates may face:

Administrative and criminal sanctions from the PRC

Under the PEZA Law, enterprises operating within economic zones enjoy certain privileges such as simplified import-export procedures and tax incentives. However, they remain subject to Philippine laws on labor, environment, and national security. What is the main intent of providing these incentives?

To encourage industrial investment and job generation in selected areas