This quiz works best with JavaScript enabled. Home > Cbse > Class 12 > Commerce > Business Studies > Class 12 Business Studies Chapter 12 Consumer Protection – Quiz 24 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 12 Consumer Protection Quiz 24 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. When a patient experiences side effects from a certain medication which were not disclosed by the pharmaceutical company, which of the following types of product liability claim can be applied? A) Warning and/or labeling defect. B) Manufacture defect. C) Product defect. D) Design defect. Show Answer Correct Answer: A) Warning and/or labeling defect. 2. If all of the spinach in Kansas City was recalled, which agency would be responsible? A) FDA. B) FTC. C) CPSC. D) None of the above. Show Answer Correct Answer: A) FDA. 3. If an ad uses innocent exaggeration or puffery, it is illegal. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 4. The quality certification mark used to ensure safety for electrical goods is: A) Agmark. B) FPO. C) Hallmark. D) ISI. Show Answer Correct Answer: D) ISI. 5. The agency concerned on Food, drug, cosmetics, devices and substances. A) Department of Health. B) Department of Agriculture. C) Department of Trade and Industry. D) Department of Finance. Show Answer Correct Answer: A) Department of Health. 6. The Act that safeguards the consumers against deficient services, unfair trade practices etc. A) The sale of Goods Act. B) Consumer Protection Act. C) Essential commodities Act. D) None of the above. Show Answer Correct Answer: B) Consumer Protection Act. 7. Apa dampak negatif utama dari perjudian online yang disebutkan? A) Kecanduan, kerugian keuangan, dan masalah kesehatan mental. B) Interaksi sosial yang meningkat dan hiburan. C) Keterampilan pengambilan keputusan yang lebih baik. D) Stabilitas keuangan dan akumulasi kekayaan. Show Answer Correct Answer: A) Kecanduan, kerugian keuangan, dan masalah kesehatan mental. 8. In Trinidad and Tobago the arm of the government that safeguards the economic interests of consumers is: A) The Trade Commission. B) The Federal Trade Commission. C) The Ombudsman. D) Consumer Affairs Division. Show Answer Correct Answer: D) Consumer Affairs Division. 9. Why might someone freeze their credit after experiencing fraud? A) To restrict access to their credit report and prevent further misuse. B) To avoid paying interest on existing loans. C) To dispute all prior credit transactions. D) To guarantee higher credit scores in the future. Show Answer Correct Answer: A) To restrict access to their credit report and prevent further misuse. 10. Sumitra filed a case against Mahindra Ltd. in the National Commission. But, she was not satisfied with the order of the National Commission. Name the authority where she can appeal against the decision of National Commission. A) District Commission. B) Central Commission. C) Supreme Court of India. D) None of these. Show Answer Correct Answer: C) Supreme Court of India. 11. This Act protects the handling of personal information about individuals (including the collection, use and storage): A) Australian Consumer Law Act 1992 (Cth). B) Racial Discrimination Act 1975 (Cth). C) Privacy Act 1988 (Cth). D) Australian Human Rights Commission Act 1986 (Cth). Show Answer Correct Answer: C) Privacy Act 1988 (Cth). 12. The FDA checks food, medicine, and cosmetics for safety. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 13. Apa pentingnya perlindungan data bagi konsumen? A) Konsumen tidak perlu khawatir tentang informasi pribadi mereka. B) Perlindungan data tidak relevan di era digital. C) Perlindungan data penting bagi konsumen karena memastikan keamanan informasi pribadi mereka, membangun kepercayaan, dan mencegah pencurian identitas. D) Perlindungan data hanya diperlukan untuk bisnis. Show Answer Correct Answer: C) Perlindungan data penting bagi konsumen karena memastikan keamanan informasi pribadi mereka, membangun kepercayaan, dan mencegah pencurian identitas. 14. Bagaimana OJK mendidik konsumen tentang hak-hak mereka? A) OJK mendidik konsumen tentang hak-hak mereka melalui kampanye kesadaran publik dan sumber daya pendidikan. B) OJK hanya fokus pada pengaturan lembaga keuangan, bukan pendidikan konsumen. C) OJK memberikan bantuan keuangan kepada konsumen yang membutuhkan. D) OJK melakukan survei untuk mengumpulkan keluhan konsumen tanpa memberikan pendidikan. Show Answer Correct Answer: A) OJK mendidik konsumen tentang hak-hak mereka melalui kampanye kesadaran publik dan sumber daya pendidikan. 15. If all all activities which directly E for indirectly facilitate that exchange of goods done through internet and other online environment is known as ..... A) E-Tailing. B) E-Commerce. C) Green marketing. D) E-Marketing. Show Answer Correct Answer: B) E-Commerce. 16. To minimize the amount of information an 'identity thief' can steal, which of the following should you NOT carry in your wallet or purse unless you absolutely need to? A) Birth Certificate. B) Social Security Card. C) Passport. D) All of these. Show Answer Correct Answer: D) All of these. 17. The role and responsibilities of the FCA, FOS, and FSCS are: A) Regulating financial firms, resolving consumer complaints, and protecting deposits. B) Issuing currency, setting interest rates, and managing inflation. C) Auditing government spending, collecting taxes, and managing pensions. D) Providing insurance, offering loans, and selling investments. Show Answer Correct Answer: A) Regulating financial firms, resolving consumer complaints, and protecting deposits. 18. Which provision of the Consumer Protection Act of India deals with the right to seek redressal against unfair trade practices or restrictive trade practices? A) Section 10. B) Section 7. C) Section 2. D) Section 11. Show Answer Correct Answer: D) Section 11. 19. What is the best way to avoid phishing scams? A) Respond to unfamiliar emails quickly. B) Avoid clicking on links in suspicious emails. C) Report phishing only after financial loss. D) Always pay with cash instead of cards. Show Answer Correct Answer: B) Avoid clicking on links in suspicious emails. 20. What is a common issue faced by consumers regarding their rights? A) High costs associated with exercising consumer rights. B) Lack of awareness or understanding of consumer rights. C) Excessive enforcement of consumer rights. D) Overabundance of consumer rights information. Show Answer Correct Answer: B) Lack of awareness or understanding of consumer rights. 21. Sellers often adopt unfair trade practices to increase the sale of their products. Give few examples of such practices adopted by seller. A) Misleading advertisements. B) Fake price stickers on products. C) Supply of cheap quality product. D) All of the above. Show Answer Correct Answer: D) All of the above. 22. What is the main aim of competition policy in the UK? A) To protect the environment from pollution. B) To ensure fair trading and prevent monopolies. C) To guarantee paid holidays for employees. D) To provide compensation for faulty goods. Show Answer Correct Answer: B) To ensure fair trading and prevent monopolies. 23. What are the different types of consumer disputes that can be addressed under the Act? A) Delayed refunds. B) Excessive warranties. C) High prices. D) Defective goods, inadequate services, unfair trade practices, misleading advertisements. Show Answer Correct Answer: D) Defective goods, inadequate services, unfair trade practices, misleading advertisements. 24. What is the potential impact of the digital transformation on the types of products we buy? A) It will make products more expensive. B) It will reduce the availability of products. C) It will change the way we buy and learn about products. D) It will have no impact on the types of products. Show Answer Correct Answer: C) It will change the way we buy and learn about products. 25. Chapter 11 bankruptcy is ..... A) Forgiving. B) Restructuring business. C) Chance to repay debts. D) None of the above. Show Answer Correct Answer: B) Restructuring business. 26. The Consumer Protection Act, 1986 provides for a ..... at the district, state and national levels for redressal of consumer grievances. A) Judge. B) 3 Tier machinery. C) Person. D) None of the above. Show Answer Correct Answer: B) 3 Tier machinery. 27. Which of the following is a safe way to respond to a suspicious phone call asking for your personal information? A) Give them your information immediately. B) Share your information with friends first. C) Ask for their social media profile. D) Hang up and contact the company directly using a verified number. Show Answer Correct Answer: D) Hang up and contact the company directly using a verified number. 28. Find the incorrect pair A) 1$^{st}$ woman to win Olympic gold-Charlotte Cooper. B) 1$^{st}$ woman in space-Valentina Tereshkova. C) 1$^{st}$ woman Prime Minister-Sirimavo Bandaranaike. D) 1$^{st}$ woman to scale Mt Everest-Arunima Sinha. Show Answer Correct Answer: D) 1$^{st}$ woman to scale Mt Everest-Arunima Sinha. 29. Which of the following is a basic right of consumers? A) Right to be ignored. B) Right to pay more. C) Right to be cheated. D) Right to safety. Show Answer Correct Answer: D) Right to safety. 30. What is the purpose of the right to seek redressal? A) To provide individuals with a legal recourse or remedy for grievances or injustices. B) To prevent individuals from seeking legal recourse. C) To discourage individuals from seeking justice. D) To limit individuals' access to legal remedies. Show Answer Correct Answer: A) To provide individuals with a legal recourse or remedy for grievances or injustices. 31. Harry is shopping for a new smartphone. What is one of the key concepts of consumer protection that ensures he gets a fair deal? A) Ensuring equality and fairness. B) Maximizing profits. C) Reducing competition. D) Increasing market share. Show Answer Correct Answer: A) Ensuring equality and fairness. 32. What is the significance of consumer awareness in protecting consumer rights? A) Consumer awareness has no impact on protecting consumer rights. B) Consumer awareness is only important for businesses, not consumers. C) Consumer awareness helps consumers understand their rights and make informed choices, leading to better protection of consumer rights. D) Consumer awareness leads to exploitation of consumer rights. Show Answer Correct Answer: C) Consumer awareness helps consumers understand their rights and make informed choices, leading to better protection of consumer rights. 33. The machinery for settlement of consumer dispute is: A) One-tier. B) Three-tier. C) Two-tier. D) None of these. Show Answer Correct Answer: B) Three-tier. 34. You have been pre-approved for a credit card, but you have too many already and decide to toss this bit of mail away. What should you do first? A) Run it through your home shredder. B) Cut it up with scissors. C) Tear it up into small pieces. D) Any of these. Show Answer Correct Answer: D) Any of these. 35. Under UK law, which of the following is an example of employee protection? A) The right to a refund within 14 days. B) The right to clean air. C) The right to return faulty goods. D) The right to a minimum wage. Show Answer Correct Answer: D) The right to a minimum wage. 36. Neha recently bought a new smartphone. Which of the following is NOT a focus of consumer protection? A) Promoting brand loyalty. B) Dealing with faulty goods. C) Addressing unfair contracts. D) Preventing fraud. Show Answer Correct Answer: A) Promoting brand loyalty. 37. Apa pentingnya literasi keuangan bagi konsumen? A) Literasi keuangan terutama tentang memahami undang-undang pajak. B) Literasi keuangan hanya penting bagi bisnis. C) Literasi keuangan tidak berpengaruh pada kebiasaan belanja konsumen. D) Literasi keuangan penting bagi konsumen karena memungkinkan pengambilan keputusan keuangan yang tepat dan meningkatkan kesejahteraan finansial secara keseluruhan. Show Answer Correct Answer: D) Literasi keuangan penting bagi konsumen karena memungkinkan pengambilan keputusan keuangan yang tepat dan meningkatkan kesejahteraan finansial secara keseluruhan. 38. One of the few ways you would know that your identify was stolen is A) Credit report. B) Bank report. C) Card report. D) None of the above. Show Answer Correct Answer: B) Bank report. 39. Consumers have a legal responsibility to: A) Leave online reviews to help other people. B) Become informed about the products they are buying. C) Get a refund for a product that isn't working. D) Make sure they are not damaging the environment. Show Answer Correct Answer: B) Become informed about the products they are buying. 40. You purchased bulk quantities of electric steamer costing ₹ 21, 00, 000. Your consumer complained of electric shocks from it. In which consumer forum will you lodge the complaint? A) District forum. B) State forum. C) National forum. D) None of the above. Show Answer Correct Answer: D) None of the above. 41. Which of the following is NOT a consumer right under the Consumer Act? A) Right to safety. B) Right to information. C) Right to choose. D) Right to privacy. Show Answer Correct Answer: D) Right to privacy. 42. True or False. The Consumer Credit Act ensure that regulated creditors do not need to hold a licence. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 43. Statement I:The Consumer Protection Act 2019 seeks to protect and promote the consumers' interest through speedy and inexpensive redressal of their grievances. Statement II:Consumer protection is significant for both consumers and business alike. 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. 44. Which organisation regulates the South African credit industry and ensures that the credit industry complies with the National Credit Act. A) National Credit Regulator. B) The National Consumer Forum. C) National Consumer Commission. D) South African Bureau of Standards. Show Answer Correct Answer: A) National Credit Regulator. 45. A guarantee of quality imposed by law A) Mandate. B) Implied Warranty. C) Merchantability. D) Imposition. Show Answer Correct Answer: B) Implied Warranty. 46. What is the main role of the Financial Ombudsman Service (FOS)? A) To provide loans to customers. B) To regulate financial institutions. C) To offer investment advice. D) To represent the interests of customers in disputes with financial institutions. Show Answer Correct Answer: D) To represent the interests of customers in disputes with financial institutions. 47. What is fraudulent misrepresentation? A) Any statement that has the effect of deceiving the buyer. B) Any statement that proves the seller has somehow wronged the buyer. C) Any statement that provides a clear contract for each buyer. D) Any statement that tells the buyer that something is wrong with their product. Show Answer Correct Answer: A) Any statement that has the effect of deceiving the buyer. 48. A form of protection for intellectual property for inventions that exclude others from making or selling their protected product A) A Patent. B) A Copyright. C) A Watermark. D) A Trademark. Show Answer Correct Answer: A) A Patent. 49. Promotes accuracy, fairness, and privacy of information in the files of consumer reporting agencies A) Equal Credit Opportunity Act. B) Truth in Lending Act. C) Fair Debt Collection Act. D) Fair Credit Reporting Act. Show Answer Correct Answer: D) Fair Credit Reporting Act. 50. What is the primary purpose of the Consumer Protection Act, 2019? A) To enhance product prices. B) To protect the interests of consumers. C) To promote business interests. D) To regulate government policies. Show Answer Correct Answer: B) To protect the interests of consumers. 51. Which of the following is not a disadvantage to online shopping? A) Hassle to return a product. B) Can't try on the product. C) Convenient-Always open (24/7/365). D) Waiting for the product to be shipped. Show Answer Correct Answer: C) Convenient-Always open (24/7/365). 52. E-commerce gives Quality services by? A) Providing Good discounts. B) Providing Mass customisation. C) Globaal reach. D) Getting closer to consumer. Show Answer Correct Answer: D) Getting closer to consumer. 53. What rights does the Consumer Protection Act provide to consumers? A) Right to unfair trade practices. B) Right to monopolize the market. C) Right to unhealthy environment. D) Right to consumer awareness. Show Answer Correct Answer: D) Right to consumer awareness. 54. Apa konsekuensi bagi lembaga keuangan yang melanggar undang-undang perlindungan konsumen? A) Denda, tindakan hukum, kerusakan reputasi, dan pembatasan operasional. B) Program loyalitas pelanggan yang ditingkatkan. C) Suatu kenaikan suku bunga bagi konsumen. D) Pengurangan pajak untuk lembaga tersebut. Show Answer Correct Answer: A) Denda, tindakan hukum, kerusakan reputasi, dan pembatasan operasional. 55. FCA stands for which of the following ..... A) Financial Consumer Authority. B) Financial Conduct Authorisation. C) Financial Conduct Authority. D) Financial Customer Authority. Show Answer Correct Answer: C) Financial Conduct Authority. 56. Phishing is best described as: A) Unauthorized access to confidential information. B) Restricting access to credit reports. C) An investment that pays guaranteed returns. D) A fraudulent attempt to obtain sensitive information via fake emails or messages. Show Answer Correct Answer: D) A fraudulent attempt to obtain sensitive information via fake emails or messages. 57. Which type of contract involves the ownership of goods being passed from a buyer to a seller for a price? A) Sales Contract. B) Purchase Contract. C) Goods Contract. D) None of the above. Show Answer Correct Answer: A) Sales Contract. 58. What is the role of the Financial Ombudsmen? A) To encourage fair practices between financial stitutions. B) To become involved in disputes only if they cannot be resolved between the consumer and financial institution. C) All the above. D) None of the above. Show Answer Correct Answer: B) To become involved in disputes only if they cannot be resolved between the consumer and financial institution. 59. The cure fit ayurvedic kasha that you recently purchased from the store near your locality, led to food poisoning. Which consumer right has been violated? A) Right to safety. B) Right to chose. C) Right to information. D) Right to be heard. Show Answer Correct Answer: A) Right to safety. 60. The maximum award that can be made by the Financial Ombudsman Service (FOS) is: A) £50, 000. B) £100, 000. C) £150, 000. D) None of the above. Show Answer Correct Answer: C) £150, 000. ← 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