Cuseco Document: Midterm/final Questions Consolidated Study Guide Questions And Correct Answers

Returned without action (RWA) {Ans: potential response from BIS to license applications}Restricted parties screening should include {Ans: a new employees/agent; brokers, representatives and visitors; attendees at meetings, conferences and seminars}When do DDTC licenses expire? {Ans: The license expires when the total value or quantity authorized has been shipped or when the date of expiration has been reached, whichever occurs first}Special Iraq Reconstruction License (SIRL) {Ans: bulk license; authorizes multiple items to a country for specific projects; specially designed for the items needed for the reconstruction of Iraq through projects funded by specified entities including the USG, UN, and World Bank. (15 CFR 747)}Which screening lists are owned by OFAC {Ans: Specially Designated Nationals (SDN) List and Embargoed Country List}Special Comprehensive License (SCL) {Ans: bulk license; used to export certain items for specific reasons or activities to pre-approved foreign consignees. Requires that the holder and foreign consignees have in place a formal Internal Control Program (ICP) with specific elements that address their relevant export activities}As a best practice screening lists should be checked: {Ans: multiple times}The Classification Request is submitted to: {Ans: BIS}Form for unclassified temporary exports {Ans: Form DSP-73 (electronic)}Statistical export