This quiz works best with JavaScript enabled. Home > Cbse > Class 12 > Commerce > Business Studies > Class 12 Business Studies Chapter 12 Consumer Protection – Quiz 14 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 12 Consumer Protection Quiz 14 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Businessmen have to stop unfair practices, manufacturers should listen to consumer complaints and take proper action against those guilty. A) Ture. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) Ture. 2. ..... broadcasts the programme 'Apne Adhikar' with reference to consumer protection? A) All India Radio. B) Doordarshan. C) Advertising Agency. D) All of these. Show Answer Correct Answer: A) All India Radio. 3. Which of the following is NOT a right provided to consumers under the Act? A) Right to free products. B) Right to be informed. C) Right to seek redressal. D) Right to safety. Show Answer Correct Answer: A) Right to free products. 4. Compensation for damage and ordering restrictions on sale are examples of: A) Rights of consumer. B) Duties of consumer. C) Obligations of consumer. D) Reliefs to consumer. Show Answer Correct Answer: D) Reliefs to consumer. 5. Which consumer right provides a safeguard for consumers against goods and services which are hazardous to health? A) Right to safety. B) Right to be informed. C) Right to be heard. D) Right to choose. Show Answer Correct Answer: A) Right to safety. 6. Effective communication channels, mandated by the Truth in Lending Act (TILA), facilitate transparent financial transactions. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 7. Which consumer right suggests that a consumer should use only ISI marked electrical goods? A) Right to information. B) Right to seek redressal. C) Right to be heard. D) Right to safety. Show Answer Correct Answer: D) Right to safety. 8. Order of national commission can be challenged in supreme court within ..... A) 25 days. B) 30 days. C) 45 days. D) None of the above. Show Answer Correct Answer: B) 30 days. 9. Right to be informed means the right to A) The number of employees in the establishment. B) The history of the business. C) Be protected against the marketing of goods and services, which are hazardous to life and property. D) Be informed about the quality, quantity, potency, purity, standard, and price of goods. Show Answer Correct Answer: D) Be informed about the quality, quantity, potency, purity, standard, and price of goods. 10. The term 'caveat emptor' means A) Seller's responsibility. B) Buyer beware. C) Beware of the seller. D) Let the buyer beware. Show Answer Correct Answer: D) Let the buyer beware. 11. What is the role of a credit provider in the South African credit market? A) To regulate credit bureaus. B) To collect debts. C) To issue credit and loans. D) To monitor credit scores. Show Answer Correct Answer: C) To issue credit and loans. 12. Which of the following is NOT a requirement of the Dodd-Frank Wall Street Reform and Consumer Protection Act? A) Tightening of consumer financial protections. B) An increase in market liquidity. C) Verification of borrower credit scores. D) Creation of a modern regulatory structure. Show Answer Correct Answer: B) An increase in market liquidity. 13. What is the primary purpose of the Truth in Lending Act (1968)? A) To allow creditors to change loan terms after finalization. B) To force creditors to disclose all loan terms before finalization. C) To eliminate the use of annual percentage rates. D) To increase hidden charges in loans. Show Answer Correct Answer: B) To force creditors to disclose all loan terms before finalization. 14. Seller often adopt 'restrictive trade practice' to increase their profits and sales of the products. Few examples are: A) Imposing penalty for breach of contract. B) Asking the consumer to buy goods as condition precedent for buying other goods. C) Fake price stickers on the products. D) Misleading advertisements. Show Answer Correct Answer: B) Asking the consumer to buy goods as condition precedent for buying other goods. 15. What happens if a claim is not settled at the consultation before the Registrar? A) It will be sent to a higher court. B) It will be ignored. C) It will be fixed for hearing before a Referee. D) It will be dismissed. Show Answer Correct Answer: C) It will be fixed for hearing before a Referee. 16. A consumer damages goods bought by not following the instructions, do they still have rights? A) Yes. B) No. C) All the above. D) None of the above. Show Answer Correct Answer: B) No. 17. What is the name of the law that protects consumer rights? A) Trade Practices Act 1974. B) ACCC. C) Competition and consumer act 2010. D) Consumer Affairs and Fair Trading Act 1990. Show Answer Correct Answer: C) Competition and consumer act 2010. 18. As consumers, we have to be ..... of and ..... our own rights A) Brave / fight. B) Safety / benefits. C) Aware / protect. D) Unaware / prevent. Show Answer Correct Answer: C) Aware / protect. 19. What does the Sale of Goods Act 1979 relate to? A) Ethical management. B) Increase in suppliers. C) Consumer rights. D) Business expansion. Show Answer Correct Answer: C) Consumer rights. 20. Laws have been passed to regulate any business offering credit to consumers. They're to protect consumers. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 21. Choose an example of good customer service. A) Food service assistands stands with their backs to the customer. B) A food service assistant smiles and greets the customer politely. C) A food service assistant chews her nails whilst waiting for her customer to make their choice. D) A chef shouts at a colleague when they make an error with a food order. Show Answer Correct Answer: B) A food service assistant smiles and greets the customer politely. 22. When sharing information online, it is safer to do so if there is a lock icon and/or web address begins with https. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 23. Consumer protection can be in the form of laws created by the government A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 24. Authorisation, as one of the FCA's main areas of focus, means: A) Permitting financial service providers to trade. B) Ensuring procedures and practices are in the interest of the customer. C) Using powers to ensure standards are maintained. D) Charging membership fees. Show Answer Correct Answer: A) Permitting financial service providers to trade. 25. The head of the National Commission for consumer is. A) Supreme Court Judge. B) The president of India. C) High Court Judge. D) Minister of Consumer Affairs. Show Answer Correct Answer: A) Supreme Court Judge. 26. If a business lies in advertising, which agency might investigate? A) USPS. B) FBI. C) FTC. D) SEC. Show Answer Correct Answer: C) FTC. 27. How can consumers contact the Financial Ombudsman Service (FOS)? A) By visiting their local bank branch. B) By calling or writing to the FOS. C) By contacting the police. D) By visiting the stock exchange. Show Answer Correct Answer: B) By calling or writing to the FOS. 28. True or False. You have to pay to use the Financial Ombudsman Service? A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 29. Who investigates consumer complaints? A) The ombudsman. B) CCPC. C) CAI. D) Comreg. Show Answer Correct Answer: A) The ombudsman. 30. As per the Caveat emptor "Let the ..... beware" A) Seller. B) Consumer. C) Public. D) None of the above. Show Answer Correct Answer: B) Consumer. 31. A salesperson claims, "Best on the market" and "Superb quality." What does this language represent in consumer transactions? A) Puffing as exaggerated sales talk. B) An express warranty statement. C) An implied warranty of title. D) A legally binding expert opinion. Show Answer Correct Answer: A) Puffing as exaggerated sales talk. 32. What is the Central Consumer Protection Council? A) A council set up by the National Commission to protect the interests of consumers. B) A council set up by the District Forum to protect the interests of consumers. C) A council set up by the Central Government to protect the interests of consumers. D) A council set up by the State Government to protect the interests of consumers. Show Answer Correct Answer: C) A council set up by the Central Government to protect the interests of consumers. 33. A(n) ..... food contains a substance that reduces its quality. A) Misbranded. B) Injurous. C) Adulterated. D) Yummy. Show Answer Correct Answer: C) Adulterated. 34. What role does the NCUA play in relation to credit unions? A) It provides investment advice. B) It charters and regulates federal credit unions. C) It offers insurance for home loans. D) It manages retirement funds. Show Answer Correct Answer: B) It charters and regulates federal credit unions. 35. Who regulates stock market exchanges? A) Congress. B) Securities and exchange commission. C) Christian Garcia. D) New York stock exchange. Show Answer Correct Answer: B) Securities and exchange commission. 36. Which combination of elements makes a private lottery illegal in most cases? A) Chance, payment, prize. B) Skill, free entry, prize. C) Chance, free entry, publicity. D) Skill, entry fee, prize. Show Answer Correct Answer: A) Chance, payment, prize. 37. The Consumer Protection Act, 1986 provides ..... consumer rights. A) 6. B) 5. C) 7. D) 4. Show Answer Correct Answer: B) 5. 38. The FCA meets its objectives by supervising providers to ensure they are conducting their businesses appropriately. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 39. A nationally promoted soft contact lens solution is linked to a rare eye infection. Which government action best protects public safety while addressing the unsafe product? A) Fund advertising for competing brands to reduce market share. B) Shift oversight to local agencies without federal involvement. C) Issue public advisories and require an immediate product recall. D) Allow continued sales while monitoring voluntary safety improvements. Show Answer Correct Answer: C) Issue public advisories and require an immediate product recall. 40. A formal request to an insurance company asking for a payment when the policyholder has an acciden, illness or injury A) Claim. B) Coverage. C) Employee benefits. D) Emergency savings. Show Answer Correct Answer: A) Claim. 41. It is fraudulent if a local restaurant advertisement claims it serves "the best hot dogs in town." A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 42. The Consumer Act of the Philippines A) RA 7394. B) RA 7439. C) RA 7349. D) RA 7493. Show Answer Correct Answer: A) RA 7394. 43. ..... is the highest authority to settle the consumer dispute under act. A) State commission. B) National commission. C) District forum. D) None of the above. Show Answer Correct Answer: B) National commission. 44. If a product is defective, which right allows a consumer to complain? A) Right to Safety. B) Right to Choose. C) Right to Seek Redressal. D) Right to Be Informed. Show Answer Correct Answer: C) Right to Seek Redressal. 45. What steps should a consumer take if they suspect they are a victim of identity theft? A) Close all bank accounts immediately. B) File a police report and notify the credit bureaus. C) Stop using credit cards altogether. D) Report the theft to their employer. Show Answer Correct Answer: B) File a police report and notify the credit bureaus. 46. What does the Financial Conduct Authority (FCA) regulate? A) Transportation services. B) Providers of financial services. C) Food safety. D) Environmental protection. Show Answer Correct Answer: B) Providers of financial services. 47. The FCA can ..... A) Oversee the design of financial products. B) Ban certain products if necessary. C) Ensure firms cannot exploit difficulties consumers. D) All of these. Show Answer Correct Answer: D) All of these. 48. A consumer can file a suit in ..... , when the value of goods and service along with the compensation claimed does not exceed ₹ 1 crore. A) National Commission. B) Supreme Court. C) District Commission. D) State Commission. Show Answer Correct Answer: C) District Commission. 49. Having the Financial Services Compensation Scheme in place, is mostly likely to do which of the following? A) Raise public confidence in the financial services industry. B) Lower public confidence in the financial services industry. C) Neither of these. D) Both of these. Show Answer Correct Answer: A) Raise public confidence in the financial services industry. 50. Which of the following is a safe way to store your passwords? A) Use the same password for all accounts. B) Write them on a sticky note and keep it on your computer. C) Share them with your friends for safekeeping. D) Use a reputable password manager. Show Answer Correct Answer: D) Use a reputable password manager. 51. Why is consumer rights awareness important in Nigeria? A) It helps in promoting monopolies in the market. B) It is important for increasing taxes on goods. C) It is necessary for reducing the quality of products. D) Consumer rights awareness is important in Nigeria to empower individuals, protect against exploitation, and promote fair trade. Show Answer Correct Answer: D) Consumer rights awareness is important in Nigeria to empower individuals, protect against exploitation, and promote fair trade. 52. Bagaimana OJK memantau kepatuhan lembaga keuangan? A) OJK memantau kepatuhan dengan mengeluarkan denda tanpa inspeksi sebelumnya. B) OJK memantau kepatuhan dengan melakukan inspeksi, audit, dan meminta laporan rutin dari lembaga keuangan. C) OJK memantau kepatuhan dengan memberikan hibah kepada lembaga keuangan. D) OJK memantau kepatuhan melalui survei publik dan umpan balik. Show Answer Correct Answer: B) OJK memantau kepatuhan dengan melakukan inspeksi, audit, dan meminta laporan rutin dari lembaga keuangan. 53. Food Adulteration means to degrade the ..... of food. A) Quality. B) Quantity. C) All the above. D) None of the above. Show Answer Correct Answer: A) Quality. 54. A new customer is ..... ? A) One who has just bought something for the first time. B) Market its product by "word-of-mouth" free of cost. C) Stay loyal to the company. D) Are the least loyal customers. Show Answer Correct Answer: A) One who has just bought something for the first time. 55. Which of the following is an example of an intangible service? A) A book. B) A computer. C) An apple. D) A carpet clean session. Show Answer Correct Answer: D) A carpet clean session. 56. We're doing everything to ..... our customers' expectations. A) Access. B) Excess. C) Exit. D) Exceed. Show Answer Correct Answer: D) Exceed. 57. Misleading advertisement is considered as: A) Unfair trade practice. B) Trade promotion. C) Product placement. D) Legal marketing. Show Answer Correct Answer: A) Unfair trade practice. 58. What is the primary characteristic of a "pyramid scheme" ? A) Joining with the opportunity of earning quick and easy money. B) Providing false information about product quality. C) Supplying potential customer names to the trader. D) Scratching prize coupons. Show Answer Correct Answer: A) Joining with the opportunity of earning quick and easy money. 59. Mrs. V owns a condo that she rents out to Mr. Dominguez. Mrs. V is the ..... in this situation. A) Landlord. B) Renter. C) Tenant. D) Leasee. Show Answer Correct Answer: A) Landlord. 60. What actions are prohibited under the Consumer Protection (Fair Trading) Act? A) Promoting fair trade. B) Providing accurate information. C) Offering discounts. D) Deceiving or misleading consumers. Show Answer Correct Answer: D) Deceiving or misleading consumers. ← PreviousNext →Related QuizzesCommerce QuizzesClass 12 QuizzesClass 12 Business Studies Chapter 12 Consumer Protection Quiz 1Class 12 Business Studies Chapter 12 Consumer Protection Quiz 2Class 12 Business Studies Chapter 12 Consumer Protection Quiz 3Class 12 Business Studies Chapter 12 Consumer Protection Quiz 4Class 12 Business Studies Chapter 12 Consumer Protection Quiz 5Class 12 Business Studies Chapter 12 Consumer Protection Quiz 6Class 12 Business Studies Chapter 12 Consumer Protection Quiz 7Class 12 Business Studies Chapter 12 Consumer Protection Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books