Freight Brokerage Quiz

1. What does "MC" stand for in the context of the MC number?

A) Motor Carrier B) Merchant Carrier C) Motor Corporation D) Merchant Corporation

2. Who issues the MC number?

A) Federal Bureau of Transportation Department of Transportation Federal Motor Carrier Safety Administration (FMCSA) National Highway Safety Administration

3. Why do freight brokers need an MC number?

A) To operate legally To reduce taxes To increase profits To attract more customers

4. What is the fee for applying for an MC number?

A) $100 $200 $300 $400

5. What is the purpose of the surety bond for freight brokers?

A) To protect shippers and carriers To reduce operational costs To attract more clients To simplify legal procedures

6. What is the required amount for a freight broker's surety bond?

A) $50,000 $75,000 $100,000 $125,000

7. What form do freight brokers need to file to designate process agents in every state they operate?

OP-1 Form BOC-3 Form USDOT Application MC Application

8. What must freight brokers maintain to keep their MC number in good standing?

A) Periodic registration renewal Updated surety bond Compliance with FMCSA regulations All of the above