This quiz works best with JavaScript enabled. Home > Cbse > Class 12 > Commerce > Business Studies > Class 12 Business Studies Chapter 12 Consumer Protection – Quiz 2 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 12 Consumer Protection Quiz 2 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following is NOT a recognized consumer right under the 2019 Act? A) Right to seek redressal. B) Right to choose. C) Right to trade. D) Right to be informed. Show Answer Correct Answer: C) Right to trade. 2. Fill in the blank:Citizens ..... board. A) Shopping. B) Information. C) Association. D) Communication. Show Answer Correct Answer: B) Information. 3. What is the composition of District Forum? A) President, Vice President and a member. B) Three members with no President. C) President, two members including a women member. D) President, two other member. Show Answer Correct Answer: C) President, two members including a women member. 4. If the serving size of a box of oreos is 2 cookies and the calorie count is 109 calories and you eat 6 cookies. How many calories did you consume? A) 327. B) 654. C) 109. D) 218. Show Answer Correct Answer: A) 327. 5. CCPC will have a ..... tenur A) 3. B) 5. C) 2. D) 6. Show Answer Correct Answer: A) 3. 6. What is the purpose of the Consumer Protection Act? A) To protect consumers against defective goods and unsatisfactory services. B) To promote unfair trade trade practices. C) To restrict the formation of consumer protection councils. D) To provide free goods and services to consumers. Show Answer Correct Answer: A) To protect consumers against defective goods and unsatisfactory services. 7. What does FOB stand for? A) Food on Board. B) Free on Board. C) Free on Barter. D) Fixed on Barter. Show Answer Correct Answer: B) Free on Board. 8. Raj is not satisfied with the judgement of State Commission and he wants to file an appeal in National Commission 40 days after judgement given by state commission. Can He? A) Yes. B) No. C) All the above. D) None of the above. Show Answer Correct Answer: B) No. 9. What type of damages can a consumer seek in a product liability action? A) Compensatory damages. B) Punitive damages. C) Both compensatory and punitive damages. D) No damages can be sought. Show Answer Correct Answer: C) Both compensatory and punitive damages. 10. Which of the following is an organisation in the UK that will repay money to a consumer of financial services if the service provider is unable to? A) Consumer Credit Act. B) Financial Services Compensation Scheme. C) Financial Conduct Authority. D) Financial Ombudsman Service. Show Answer Correct Answer: D) Financial Ombudsman Service. 11. Examples of consumer credit include:credit cards, hire purchase, and ..... A) Mortgage. B) Leasing. C) Insurance. D) Savings account. Show Answer Correct Answer: B) Leasing. 12. True or False. The Consumer Credit Act sets out what creditors must do when they lend money and when they collect it? A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 13. How does the Act address the issue of e-commerce and consumer protection? A) The Act promotes unlimited data sharing without consent. B) The Act addresses e-commerce and consumer protection by enforcing transparency, data protection, and fair advertising practices. C) The Act prohibits all forms of online advertising. D) The Act eliminates consumer rights in e-commerce transactions. Show Answer Correct Answer: B) The Act addresses e-commerce and consumer protection by enforcing transparency, data protection, and fair advertising practices. 14. FOS stands for which of the following ..... A) Financial Ombudsman Service. B) Financial Ombudsman System. C) Finance Ombudsman System. D) Finance Official Service. Show Answer Correct Answer: A) Financial Ombudsman Service. 15. Apa salah satu modus operandi pinjaman online ilegal (Pinjol Ilegal) yang disebutkan? A) Pendaftaran resmi dengan OJK. B) Menawarkan pinjaman melalui komunikasi pribadi seperti SMS atau Whatsapp. C) Syarat dan ketentuan yang jelas dan transparan. D) Proses verifikasi ketat untuk peminjam. Show Answer Correct Answer: B) Menawarkan pinjaman melalui komunikasi pribadi seperti SMS atau Whatsapp. 16. Affixing of responsibility to compensate buyers, users, and others for injuries caused by a defective product. A) Disclaimer. B) Product liability. C) Class liability. D) Restitution. Show Answer Correct Answer: B) Product liability. 17. VOICE, a cooperative society for consumer education is located at: A) Kolkata. B) Ahmedabad. C) Delhi. D) Mumbai. Show Answer Correct Answer: C) Delhi. 18. What is the limitation period for filing a consumer complaint? A) No time limit. B) 1 year from the discovery of defect. C) 2 years from the date of cause of action. D) 3 years from the date of purchase. Show Answer Correct Answer: C) 2 years from the date of cause of action. 19. District commission entertains complaints of consumer for compensation which is less than ..... A) One crore. B) Ten lacs. C) Ten crore. D) None of the above. Show Answer Correct Answer: A) One crore. 20. Investigation wing of Central Authority will be headed by whom? A) Chairperson. B) Members. C) Chief executive officer. D) Director general. Show Answer Correct Answer: D) Director general. 21. COnsumer can directly file case in supreme cpurt. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 22. Ryan bought a self-sharpening knife at a Pampered Chef party. He decided that he did not really need it. He can cancel within 3 business days under which? A) The mail order rule. B) Violation of bait and switch advertising. C) The failure to warn rule. D) The cooling off rule. Show Answer Correct Answer: D) The cooling off rule. 23. How did the Truth in Lending Act (1968) impact the use of annual percentage rates (APR)? A) It discouraged the use of APR. B) It made APR optional for creditors. C) It encouraged the standard use of APR for loan comparison. D) It eliminated the need for APR in loans. Show Answer Correct Answer: C) It encouraged the standard use of APR for loan comparison. 24. Which of the following indicates the need for consumer protection from Business point of view? A) Social Responsibility. B) Ignorance. C) Being Unorganized. D) Widespread Exploitation. Show Answer Correct Answer: A) Social Responsibility. 25. If a bank fails-what's the maximum amount of money the FSCS pay compensation up to? A) £85, 000. B) £82, 000. C) £8, 000. D) £80, 000. Show Answer Correct Answer: A) £85, 000. 26. Complaints can also be filled by the ..... A) Central government. B) State Government. C) A group of consumers. D) All of the above. Show Answer Correct Answer: D) All of the above. 27. Consumer Protection Act is applicable: A) Immovable goods. B) Movable goods. C) Specific goods and services. D) All goods and services. Show Answer Correct Answer: D) All goods and services. 28. Jenny's expensive laptop stops working three weeks after the six-month warranty expires. Can she still get a repair, replacement or refund? A) Yes. B) No. C) All the above. D) None of the above. Show Answer Correct Answer: A) Yes. 29. What is a 'Consumer dispute' as defined in Sec 2 (e)? A) A dispute regarding the quality of goods. B) A dispute where the consumer is satisfied. C) A dispute wherein complaint made against the person is denying his fault. D) A dispute about the price of goods. Show Answer Correct Answer: C) A dispute wherein complaint made against the person is denying his fault. 30. A retailer ships shampoo in oversized boxes to make the bottles look larger on shelves. Which practice best describes this scenario? A) Product packaged in a much bigger package than needed. B) Limited-time promotional packaging with bonus items. C) Truthful size packaging to reduce waste. D) Standard retail display complying with safety rules. Show Answer Correct Answer: A) Product packaged in a much bigger package than needed. 31. When 7-Eleven wanted to buy out another convenience store chain, the government investigated to see what? A) If the chain would have a monopoly. B) If the chain could handle the addition cleanliness needed. C) If the chain had the money to do so. D) If the chain would be better to spread out globally instead. Show Answer Correct Answer: A) If the chain would have a monopoly. 32. The Public Utilities Board fixes the prices that are charged for utilities, for example, telephone, water and electricity. The purpose of this is to A) Regulate only the prices of electricity. B) Limit consumer choices in utilities. C) Increase profits for utility companies. D) Ensure fair and reasonable pricing for consumers. Show Answer Correct Answer: D) Ensure fair and reasonable pricing for consumers. 33. Claims by third parties, for example, for an unpaid balance. A) Restitution. B) Disclaimers. C) Puffing. D) Encumbrances. Show Answer Correct Answer: D) Encumbrances. 34. Appeal against the judgment given by a State Commission can be filed in Supreme Court. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 35. The Fair Credit Reporting Act (FCRA) regulates which of the following activities to protect consumer's rights? A) How creditors can evaluate an applicant's creditworthiness. B) How retailers must disclose their privacy policies. C) How long a credit reporting agency can keep records. D) How lenders can use consumer information to rate performance. Show Answer Correct Answer: A) How creditors can evaluate an applicant's creditworthiness. 36. The Financial Services Compensation Scheme (FSCS) is funded by: A) A tax, paid for by customers. B) A levy, paid for by providers. C) The Financial Conduct Authority (FCA). D) None of the above. Show Answer Correct Answer: B) A levy, paid for by providers. 37. The consumer protection Act came into force with effect from A) 1986. B) 1999. C) 1987. D) 1985. Show Answer Correct Answer: A) 1986. 38. A District Forum has jurisdiction to entertain a consumer complaint involving product value: A) Upto Rupees 10 lakhs. B) Between Rs. 10 lakhs to Rs 20 lakhs. C) Upto Rs. 20 lakhs. D) Above Rs. 1 crore. Show Answer Correct Answer: C) Upto Rs. 20 lakhs. 39. What is a primary area of focus of the Investor Protections elements of the Dodd-Frank Wall Street Reform and Consumer Protection Act? A) Reduction of market volatility. B) Mitigation of investment fraud. C) Enhancement of investment returns. D) Monitoring of investment concentration. Show Answer Correct Answer: B) Mitigation of investment fraud. 40. How might you know that your identity was stolen? A) A friend invites you to their birthday party. B) You get a bill for something you didn't buy. C) You meet someone who looks just like you. D) You get a coupon in the mail for a free car wash. Show Answer Correct Answer: B) You get a bill for something you didn't buy. 41. Last year, we lost a lot of customers ..... our competitor A) To. B) For. C) On. D) With. Show Answer Correct Answer: A) To. 42. A company markets a product with potential hazards. Which principle most directly obliges the firm to disclose risks and ensure safety? A) Caveat emptor:buyer must beware. B) Caveat venditor:seller must beware. C) Pacta sunt servanda:keep promises. D) Res ipsa loquitur:thing speaks for itself. Show Answer Correct Answer: B) Caveat venditor:seller must beware. 43. What is the term for selling goods at a higher price due to artificial scarcity? A) Misleading advertisement. B) Adulteration. C) False weights. D) Hoarding. Show Answer Correct Answer: D) Hoarding. 44. Which is gateway to internet A) Portal. B) CPU. C) Modem. D) None of the above. Show Answer Correct Answer: C) Modem. 45. Someone who acquires goods and services for direct use of ownership rather than for resale or use in production and manufacturing A) Distributor. B) Reseller. C) Consumer. D) Businessman. Show Answer Correct Answer: C) Consumer. 46. ..... mark is used for electrical products. A) ISO. B) FPO. C) Agmark. D) ISI. Show Answer Correct Answer: D) ISI. 47. What is the right to safety as per the Consumer Protection Act? A) Right to be protected against hazardous goods and services. B) Right to unhealthy environment. C) Right to monopolize the market. D) Right to unfair trade practices. Show Answer Correct Answer: A) Right to be protected against hazardous goods and services. 48. A guarantee, usually by a seller to a buyer, that a product will perform as promised. A) Offer. B) Trade. C) Warranty. D) Their word. Show Answer Correct Answer: C) Warranty. 49. What role does the concept of 'strict liability' play in product liability cases? A) It only applies to defective services. B) It requires proof of negligence. C) It holds manufacturers liable regardless of fault. D) It limits claims to warranty breaches. Show Answer Correct Answer: C) It holds manufacturers liable regardless of fault. 50. How can consumers report violations of their rights? A) Consumers can report violations of their rights to consumer protection agencies or regulatory bodies. B) Consumers can only report violations through social media. C) Consumers can report violations to their friends. D) Consumers should ignore violations and move on. Show Answer Correct Answer: A) Consumers can report violations of their rights to consumer protection agencies or regulatory bodies. 51. The FOS only gets involved if a ..... cannot be resolved between the two parties. A) Agreement. B) Contract. C) Complaint. D) Discussion. Show Answer Correct Answer: C) Complaint. 52. Which agency is responsible for insuring deposits at federally insured credit unions? A) Federal Reserve. B) National Credit Union Administration (NCUA). C) Securities and Exchange Commission. D) Internal Revenue Service. Show Answer Correct Answer: B) National Credit Union Administration (NCUA). 53. To seek and receive a remedy to a problem A) Small claims court. B) Bait and switch. C) Redress. D) None of the above. Show Answer Correct Answer: C) Redress. 54. Consumer organisations are making efforts to ..... their number. A) Increase. B) Decrease. C) Stabilise. D) None of the above. Show Answer Correct Answer: A) Increase. 55. Which statement best captures the shift from caveat emptor to caveat venditor in modern markets? A) Sellers must meet regulatory standards protecting buyers. B) Buyers rely solely on personal judgment for product safety. C) Government no longer intervenes in consumer protection. D) Consumers cannot seek advice from public agencies. Show Answer Correct Answer: A) Sellers must meet regulatory standards protecting buyers. 56. ..... are directives by courts or agencies like the FTC to sop unlawful practices. A) Strict Liability. B) Cease & Desist. C) Product liability. D) Bait & Switch. Show Answer Correct Answer: B) Cease & Desist. 57. The type of products which require ISI mark for assurance of quality are A) Electrical products. B) Food products. C) Chemical products. D) Agricultural products. Show Answer Correct Answer: A) Electrical products. 58. Which of the following is NOT a method for lodging consumer complaints? A) Direct contact with the business. B) Using online consumer protection platforms. C) Posting a negative review on social media. D) Filing a complaint with the Better Business Bureau. Show Answer Correct Answer: C) Posting a negative review on social media. 59. Lily is shopping online and comes across a website that seems to be offering great deals. Which of the following is NOT included in the Consumer Protection from Unfair Trading Regulations (2008) when she is evaluating the website's practices? A) Using aggressive sales techniques. B) Offering discounts. C) Making false messages. D) Missing important product details. Show Answer Correct Answer: B) Offering discounts. 60. What actions did the U.S government take in order to oversee environmental issues? A) Clean Water Act, S.A.L.T, & Camp David Accords. B) Community Reinvestment Act & Clean Air Act. C) Clean Air Act, Peace through Strength, & Clean Water Act. D) Clean Water Act, Endangered Species Act, & Clean Air Act. Show Answer Correct Answer: D) Clean Water Act, Endangered Species Act, & Clean Air Act. ← PreviousNext →Related QuizzesCommerce QuizzesClass 12 QuizzesClass 12 Business Studies Chapter 12 Consumer Protection Quiz 1Class 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 8Class 12 Business Studies Chapter 12 Consumer Protection Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books