This quiz works best with JavaScript enabled. Home > Cbse > Class 12 > Commerce > Business Studies > Class 12 Business Studies Chapter 12 Consumer Protection – Quiz 18 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 12 Consumer Protection Quiz 18 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Arbitration boards have been created by many industries to resolve customer complaints. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 2. What year was the Competition and Markets Authority (CMA) established? A) 2010. B) 2016. C) 2014. D) 2012. Show Answer Correct Answer: C) 2014. 3. Which act protects buyers and renters from discrimination in housing? A) CAN-SPAM Act. B) Fair Credit Reporting Act. C) Fair Housing Act. D) Gramm-Leach-Bliley Act. Show Answer Correct Answer: C) Fair Housing Act. 4. If a consumer is not satisfied with the order of the State Commission, he appeal before the National Commission within ..... days of passing of the order. A) 45. B) 30. C) 60. D) 24. Show Answer Correct Answer: B) 30. 5. The Federal Fair Debt Collection Practices Act of 1977 sets rules for ..... A) How much debt a person is allowed to have. B) How debt collectors can interact with individuals. C) How much interest a lender can charge. D) How much of a debt a person must repay. Show Answer Correct Answer: B) How debt collectors can interact with individuals. 6. According to the Consumer Protection Act 1987, what is considered a 'product'? A) Only goods with a trademark. B) Only goods sold in the UK. C) Only manufactured goods. D) Any goods or electricity. Show Answer Correct Answer: D) Any goods or electricity. 7. Which right require manufacturers to provide information such as ingredients, date of manufacture price, expiry date, etc. on the product? A) Right to safety. B) Right to consumer education. C) Right to be informed. D) Right to choose. Show Answer Correct Answer: C) Right to be informed. 8. Which of the following function is not carried by NGO/consumer association: A) Filing complaints on behalf of consumers. B) Promoting the goods made by manufacturer. C) Providing legal assistance to consumers. D) Publishing periodicals to impart knowledge about consumer rights. Show Answer Correct Answer: B) Promoting the goods made by manufacturer. 9. The FSCS is a UK based organisation that pays compensation to consumers of financial institutions if the provider is unable to do so. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 10. Which law protects consumers from abusive or unfair debt collection practices? A) Dodd-Frank Act. B) Fair Debt Collection Practices Act (FDCPA). C) Fair Credit Reporting Act (FCRA). D) Truth in Lending Act (TILA). Show Answer Correct Answer: B) Fair Debt Collection Practices Act (FDCPA). 11. Adulteration is a malpractice related to A) Black marketing. B) Hoarding. C) Unsafe food items. D) Defective product. Show Answer Correct Answer: C) Unsafe food items. 12. What is the term used to describe the act of a consumer insisting on a cash memo? A) Consumer Assertion. B) Consumer Demand. C) Consumer Insistence. D) Consumer Right. Show Answer Correct Answer: A) Consumer Assertion. 13. What don't you need when in the small claims court dealing with a complaint? A) Laws. B) Money. C) Mediator. D) Solicitor. Show Answer Correct Answer: D) Solicitor. 14. Identify the right of consumer. A) Right to seek redressal. B) Right to be heard. C) Right to consumer education. D) Right to be informed. Show Answer Correct Answer: A) Right to seek redressal. 15. What is the standardisation mark that consumers should check while purchasing packaged honey? A) ISI. B) Agmark. C) FPO. D) Hallmark. Show Answer Correct Answer: B) Agmark. 16. What should BSls provide to mitigate risks of fraud and misuse? A) Necessary assistance and relevant information. B) No assistance needed. C) Only legal advice. D) None of the above. Show Answer Correct Answer: A) Necessary assistance and relevant information. 17. What is the role of consumer organizations? A) To promote consumer rights and awareness. B) To increase product prices. C) To limit consumer choices. D) To support businesses. Show Answer Correct Answer: A) To promote consumer rights and awareness. 18. What is the role of the Consumers Association of Singapore (CASE)? A) Providing legal representation. B) Regulating prices. C) Protecting consumer interests. D) Promoting business interests. Show Answer Correct Answer: C) Protecting consumer interests. 19. What is the Truth In Lending Act? A) When you lend someone something. B) When a company has to tell you exactly what you're getting. C) All the above. D) None of the above. Show Answer Correct Answer: B) When a company has to tell you exactly what you're getting. 20. What law governs unfair methods of competition? A) Federal Fair Credit Billing Act. B) Consumer Credit Protection Act. C) Federal Trade Commission Act. D) Fair Labor Standards Act. Show Answer Correct Answer: C) Federal Trade Commission Act. 21. A scam in which an email is sent from someone posing as your bank or other legitimate business asking for personal information. A) Skimming. B) Pharming. C) Social Engineering. D) Phishing. Show Answer Correct Answer: D) Phishing. 22. ..... is a standardised mark printed on jewellery. A) ISO 2009. B) ISI. C) Hallmark. D) Agmark. Show Answer Correct Answer: C) Hallmark. 23. Audit fees effects? A) Balance sheet. B) Profit and loss Account. C) Trading Account. D) None of the above. Show Answer Correct Answer: B) Profit and loss Account. 24. From 1 April 2014 which organisation took over responsibility for ensuring that there is enough competition in the financial services market? A) The Competition and Markets Authority (CMA). B) The Prudential Regulation Authority (PRA). C) The Financial Conduct Authority (FCA). D) None of the above. Show Answer Correct Answer: A) The Competition and Markets Authority (CMA). 25. Consumer is a person who does not: A) Consume the goods. B) Avail the service. C) Reuse the goods. D) Resale goods. Show Answer Correct Answer: D) Resale goods. 26. If you're using your credit card online, the safest place to do that is: A) Your own computer on a secured network. B) A coffee shop. C) Nowhere. Just don't do it. D) The library. Nothing bad ever happens there. Show Answer Correct Answer: A) Your own computer on a secured network. 27. If the consumer court is satisfied about the genuineness of the complaint, it can issue an order or direction to the opposite party to pay an amount, not less than ..... of the value of defective goods or deficient services provided, to be credited to the consumer welfare fund. A) 5%. B) 50%. C) 15%. D) 10%. Show Answer Correct Answer: D) 10%. 28. What is the main focus of the CAN-SPAM Act? A) Ensuring fair debt collection practices. B) Protecting consumer financial information. C) Regulating email communication. D) Preventing predatory lending. Show Answer Correct Answer: C) Regulating email communication. 29. An example is that you would like to find out if this is a reputable business A) Bank. B) Better business bureau. C) Newspaper. D) Salvation army. Show Answer Correct Answer: B) Better business bureau. 30. Right of consumer protection are protected under: A) CPA, 1982. B) CPA, 1988. C) CPA, 1986. D) CPA, 1984. Show Answer Correct Answer: C) CPA, 1986. 31. How many consumer rights are recognized? A) 8. B) 10. C) 5. D) 6. Show Answer Correct Answer: D) 6. 32. Which Laws deals with Consumer Protection Act? A) Consumer Protection Act both 2019 and 1986. B) Consumer Protection Act 2015. C) Consumer Protection Act 1956. D) Consumer Protection Act 2010. Show Answer Correct Answer: A) Consumer Protection Act both 2019 and 1986. 33. Who is called as the king of market? A) Agent. B) Provider. C) Consumer. D) Producer. Show Answer Correct Answer: C) Consumer. 34. What is the longest running Christmas special of all time? A) Frosty the Snowman. B) Rudolph the Red-Nosed Reindeer. C) Charlie Brown Christmas. D) A Year Without Santa Claus. Show Answer Correct Answer: B) Rudolph the Red-Nosed Reindeer. 35. The process of reading credit card information from the magnetic strip on a credit card through the use of an unauthorized scanning device. A) Pretexting. B) Dumpster Diving. C) Skimming. D) Shoulder Surfing. Show Answer Correct Answer: C) Skimming. 36. If consumer forget to collect bill at the time of purchase which responsibility of consumer is not followed here? A) Caution consumer. B) Insists for cash memo. C) Be aware of the advertisement. D) None of the above. Show Answer Correct Answer: B) Insists for cash memo. 37. Statement I:It is necessary to educate the consumers about their rights. Statement II:There is widespread ignorance of consumers about their rights and reliefs available to them. A) Statement I is correct and Statement II is wrong. B) Statement II is correct and Statement I is wrong. C) Both the statements are correct. D) Both the statements are incorrect. Show Answer Correct Answer: C) Both the statements are correct. 38. A specific time period within which a consumer can back out of some sales agreements is called? A) Loss leader. B) Cooling off period. C) Warranty. D) Bait and switch. Show Answer Correct Answer: B) Cooling off period. 39. Implemented programs for ground water, pollution, and runoff control from pesticides A) Endangered Species Act. B) Clean Water Act. C) National Environmental Policy Act. D) Clean Air Act. Show Answer Correct Answer: B) Clean Water Act. 40. It was created under the Department of Health to license, monitor, and regulate the flow of food, drugs, cosmetics, medical devices, and household hazardous waste in the Philippines. A) Department of Agriculture. B) Food and Drug Administration. C) Department of Trade and Industry. D) Department of Health. Show Answer Correct Answer: B) Food and Drug Administration. 41. Consumer have a legal responsibility to. A) Leave online reviews to help other people. B) Get a refund for a product that isn't working. C) Make sure they are not damaging the Environment. D) Become informed about the products they are buying. Show Answer Correct Answer: D) Become informed about the products they are buying. 42. Which of the following is NOT an example of public relations? A) Sponsoring of a football team. B) Donations by the firm to charity. C) Advertising the product on national radio. D) Letting a newspaper journalist write an article about the firm's activities. Show Answer Correct Answer: C) Advertising the product on national radio. 43. Which term means a dishonest scheme to cheat someone out of money or information? A) Scam. B) Phishing. C) Credit Freeze. D) Consumer Protection. Show Answer Correct Answer: A) Scam. 44. The State Commissions are set up in each State by the A) High Court. B) Central Government. C) State Government. D) Supreme Court. Show Answer Correct Answer: C) State Government. 45. Which of the following statement is false about remedies available to the consumer: A) To refund the price paid for the product. B) To pay reasonable amount of compensation for any loss or injury suffered. C) To replace the defective product with a new one. D) To continue exploitative practice on repetitive basis in future. Show Answer Correct Answer: D) To continue exploitative practice on repetitive basis in future. 46. The ..... gives consumers three business days to cancel most contracts made with door-to-door sales persons. A) Caveat Venditor. B) Cooling-off rule. C) Bait & Switch. D) Caveat Emptor. Show Answer Correct Answer: B) Cooling-off rule. 47. Which of the following is not a duty of The National Consumer Agency A) To implement the act. B) To accept complaints from consumers and to inform and educate consumers. C) To investigate complaints. D) To request the alteration or ending of a misleading practice. E) To ensure consumers don't buy fault products. Show Answer Correct Answer: E) To ensure consumers don't buy fault products. 48. Which government agency regulates radio and tv? A) Social Security Agency (SSA). B) Federal Trade Commission (FTC). C) Environmental Protection Agency (EPA). D) Federal Communications Commission (FCC). Show Answer Correct Answer: D) Federal Communications Commission (FCC). 49. The following are characteristics of a Price Tag, except? A) A price tag should be clearly written. B) State the price of the commodity per unit in pesos and centavos, Philippine currency. C) Bear no erasures or alterations of any sort. D) Allows erasure or alteration of any sort. Show Answer Correct Answer: D) Allows erasure or alteration of any sort. 50. What is the ethical concern with marketing sweets at the checkout? A) It encourages 'pester power'. B) It increases product visibility. C) It boosts sales. D) It enhances brand loyalty. Show Answer Correct Answer: A) It encourages 'pester power'. 51. What is referral selling? A) Sending unordered goods through the mail. B) Offering special deals to consumers. C) Providing false information about product quality. D) Supplying potential customer names to the trader. Show Answer Correct Answer: D) Supplying potential customer names to the trader. 52. Money earned through work. A) Withdrawal. B) Deposit. C) Expense. D) Income. Show Answer Correct Answer: D) Income. 53. Which of the following is an example of product liability? A) A restaurant being sued for serving undercooked food. B) A clothing store being sued for selling a defective product. C) A car manufacturer being held responsible for injuries caused by a faulty airbag. D) A doctor being sued for medical malpractice. Show Answer Correct Answer: C) A car manufacturer being held responsible for injuries caused by a faulty airbag. 54. Which of the following occurs when a party to a contract fails to fulfill his or her obligation as described in the contract or communicates an intent to not uphold the obligation? A) Opening. B) Risk. C) Break. D) Breach. Show Answer Correct Answer: D) Breach. 55. Caveat Emptor-indicates ..... to be beware A) Suppliers. B) Buyers. C) Government. D) Sellers. Show Answer Correct Answer: B) Buyers. 56. What does Consumer Protection Law aim to ensure regarding advertising?Deceptive advertising practices A) Deceptive advertising practices. B) Minimal advertising. C) No advertising allowed. D) Advertising without restrictions. Show Answer Correct Answer: A) Deceptive advertising practices. 57. What does the Consumer Protection Act of Thailand allow? A) Consumers to ignore contracts. B) Consumers to complain. C) Tourists to pay more. D) Businesses to raise prices. Show Answer Correct Answer: B) Consumers to complain. 58. Bagaimana OJK berperan dalam mengawasi lembaga keuangan non-bank? A) OJK tidak memiliki wewenang untuk mengawasi lembaga keuangan non-bank. B) OJK memberikan izin tanpa pengawasan lebih lanjut kepada lembaga keuangan non-bank. C) OJK hanya fokus pada lembaga keuangan bank. D) OJK mengawasi lembaga keuangan non-bank dengan menerapkan regulasi dan melakukan audit. Show Answer Correct Answer: D) OJK mengawasi lembaga keuangan non-bank dengan menerapkan regulasi dan melakukan audit. 59. What is the main role of the Consumer Protection Council in Nigeria? A) To regulate prices of goods and services. B) To promote and protect consumer rights and interests. C) To manage trade relations with other countries. D) To oversee business licensing in Nigeria. Show Answer Correct Answer: B) To promote and protect consumer rights and interests. 60. Kenapa perlindungan konsumen penting dalam keuangan? A) Perlindungan konsumen hanya diperlukan untuk perusahaan besar. B) Perlindungan konsumen meningkatkan biaya layanan keuangan. C) Perlindungan konsumen tidak relevan dalam ekonomi digital. D) Perlindungan konsumen penting dalam keuangan untuk memastikan keadilan, mencegah penipuan, dan mempromosikan kepercayaan dalam sistem keuangan. Show Answer Correct Answer: D) Perlindungan konsumen penting dalam keuangan untuk memastikan keadilan, mencegah penipuan, dan mempromosikan kepercayaan dalam sistem keuangan. ← 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