This quiz works best with JavaScript enabled. Home > Cbse > Class 12 > Commerce > Business Studies > Class 12 Business Studies Chapter 12 Consumer Protection – Quiz 25 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 12 Consumer Protection Quiz 25 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Divyesh is not satisfied with the judgement of State Commission so he filed an appeal in National Commission. He is not satisfied with the judgement of National Commission and he wants to file an appeal in Supreme Court within 30 days of judgement given by National commission. Can he? A) Yes. B) No. C) All the above. D) None of the above. Show Answer Correct Answer: B) No. 2. What is the purpose of the Consumer Credit Act 1974? A) To regulate the sale of goods. B) To protect consumers when they borrow money. C) To manage public sector finances. D) To control inflation. Show Answer Correct Answer: B) To protect consumers when they borrow money. 3. Who is responsible for protecting consumers from unfair or deceptive business practices, such as misleading information A) CPSC. B) FTC. C) BBB. D) EPA. Show Answer Correct Answer: B) FTC. 4. What is the main focus of the OECD's committee-owned consumer policy? A) Creating consumer protection laws and institutions within member countries. B) Educating consumers about their economic interests. C) Enforcing consumer protection laws across jurisdictions. D) Developing policy recommendations for the digital marketplace. Show Answer Correct Answer: A) Creating consumer protection laws and institutions within member countries. 5. Every document, record or article seized under Consumer Protection Act should be returned within? A) One month. B) 10 days. C) 1 week. D) 20 days. Show Answer Correct Answer: D) 20 days. 6. In Special Situation Maximum Time Limit for Disposal of complaint is 5 months A) 6 months. B) 3 months. C) 2 months. D) 5 months. Show Answer Correct Answer: D) 5 months. 7. It is the agency of the Government of the Philippines responsible for regulating the security industry in the Philippines. A) Securities and Exchange Commission. B) Bangko Sentral ng Pilipinas. C) Department of Education. D) Department of Agriculture. Show Answer Correct Answer: A) Securities and Exchange Commission. 8. One of the government agencies that protects consumers is A) Price Control. B) Bargin City. C) BPL. D) Cost Right. Show Answer Correct Answer: A) Price Control. 9. What types of goods does consumer protection help protect against? A) High-quality products. B) Defective products, misleading advertising, unsafe goods, unfair trade practices. C) Consumer loyalty programs. D) Effective marketing strategies. Show Answer Correct Answer: B) Defective products, misleading advertising, unsafe goods, unfair trade practices. 10. How many repair attempts before a consumer may issue a Notice of Availment of Lemon Law Rights to the concerned manufacturer, distributor, authorized dealer or retailer? A) 4. B) 3. C) 5. D) 2. Show Answer Correct Answer: A) 4. 11. Jordan received a faulty item from an online retailer. What is usually the recommended first action Jordan should take to resolve the issue? A) Share the experience on a public forum. B) Report the issue to a government agency. C) Contact the business directly to explain the problem. D) Seek legal advice immediately. Show Answer Correct Answer: C) Contact the business directly to explain the problem. 12. Which of the following is a responsibility of the Financial Ombudsman Service (FOS)? A) To regulate financial firms. B) To provide financial education to the public. C) To resolve disputes between consumers and financial firms. D) To offer insurance to financial institutions. Show Answer Correct Answer: C) To resolve disputes between consumers and financial firms. 13. Every year is declared as a consumer protection day to educate the public and their right and responsibilities A) September 15. B) April 15. C) March 15. D) August 15. Show Answer Correct Answer: C) March 15. 14. Coka Crackers Ltd, a fire cracker manufacturing company, launched some new products on the eve of Diwali which attracted many customers. To meet the increased demand, the company employed children from nearby villages and in the urgency of work, they ignored to specify safety warnings on packets of crackers. Identify which consumer right is being ignored. A) Right to be heard. B) Right to choose. C) Right to be informed. D) Right to seek redressal. Show Answer Correct Answer: C) Right to be informed. 15. Counterfeit checks will usually have a dull or opaque MICR line A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 16. In what ways can consumers advocate for their rights? A) Waiting for others to take action. B) Consumers can advocate for their rights by educating themselves, reporting violations, joining advocacy groups, using social media, and participating in public discussions. C) Only relying on government agencies. D) Ignoring the issue altogether. Show Answer Correct Answer: B) Consumers can advocate for their rights by educating themselves, reporting violations, joining advocacy groups, using social media, and participating in public discussions. 17. The National Commission consists of a President and ..... others members, one of whom should be a woman. A) 6. B) 5. C) 2. D) 4. Show Answer Correct Answer: D) 4. 18. The Right to be Informed means- A) Consumers must be told about the price, quantity, and quality of a product. B) Consumers should never question the seller. C) Consumers should keep all product information secret. D) Consumers must only buy branded goods. Show Answer Correct Answer: A) Consumers must be told about the price, quantity, and quality of a product. 19. A person who purchases or leases goods, services, or property primarily for personal, family, or household purposes is a(n) A) Consumer. B) Caveat Emptor. C) Telemarketer. D) Caveat Venditor. Show Answer Correct Answer: A) Consumer. 20. The promise to make a gift creates a legal obligation. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 21. Treat others as you'd like to be treated is a good guiding principle behind offering outstanding service or sales through service. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 22. What is the significance of the 2019 amendment to the Consumer Protection Act? A) It introduced the concept of product liability. B) It excluded online purchases from consumer rights. C) It limited the scope of consumer protection. D) It removed all consumer rights. Show Answer Correct Answer: A) It introduced the concept of product liability. 23. In what way the objective of consumer protection can be achieved? A) Self-regulation by business. B) Business associations. C) Government. D) All of the above. Show Answer Correct Answer: D) All of the above. 24. What was the primary purpose of the Dodd-Frank Act of 2010? A) To reduce government spending. B) To establish agencies and practices to address financial practices contributing to the 2008 economic collapse. C) To increase taxes on the wealthy. D) To promote international trade. Show Answer Correct Answer: B) To establish agencies and practices to address financial practices contributing to the 2008 economic collapse. 25. This type of warranty is implicitly imposed by law on all sales A) Limited warranty. B) Full warranty. C) Express warranty. D) Implied warranty. Show Answer Correct Answer: D) Implied warranty. 26. In case an aggrieved consumer is not satisfied with the decision of the State Commission, he can make a further appeal in A) National Commission. B) District Forum. C) Supreme Court of India. D) All of the above. Show Answer Correct Answer: A) National Commission. 27. What can be the maximum claim amount at the district level of the consumer court? A) Less than ₹ 1 lakh. B) ₹ 1 crore. C) Upto ₹ 20 lakhs. D) Above ₹ 1 crore. Show Answer Correct Answer: C) Upto ₹ 20 lakhs. 28. Which private agency is known for giving businesses a "grade" as a way to promote "marketplace trust" ? A) Federal Trade Commission. B) Federal Reserve. C) Better Business Bureau. D) Department of Transportation. Show Answer Correct Answer: C) Better Business Bureau. 29. Chelsey orders a side table to place near her outside grill. She orders on June 1st. On August 1st, she still has not received the grill or any information from the company. She phones them to cancel. She what? A) Can cancel, they needed to tell her if it would be more than 30 days. B) Can not cancel, she needs to give them more time to get the grill to her. C) All the above. D) None of the above. Show Answer Correct Answer: A) Can cancel, they needed to tell her if it would be more than 30 days. 30. Which section of the Consumer Protection Act of India deals with the establishment of consumer protection councils at the district, state, and national levels? A) Section 2. B) Section 14. C) Section 6. D) Section 17. Show Answer Correct Answer: D) Section 17. 31. Notice of exclusion of warranty. A) Disclaimer. B) Bait and switch. C) Puffing. D) Encumbrance. Show Answer Correct Answer: A) Disclaimer. 32. Why is it important for consumers to be aware of side effects of goods? A) Side effects are only relevant for medical products, not everyday goods. B) It is important for consumers to be aware of side effects to make informed choices and ensure their safety. C) Consumers should ignore side effects as they are usually exaggerated. D) Being unaware of side effects can lead to better consumer experiences. Show Answer Correct Answer: B) It is important for consumers to be aware of side effects to make informed choices and ensure their safety. 33. What is the risk associated with providing your bank account details in a "get-rich-quick scheme" ? A) Receiving a percentage of money from another country. B) Losing money to scammers. C) Earning quick and easy money. D) Receiving special prizes. Show Answer Correct Answer: B) Losing money to scammers. 34. A separately purchased agreement by the manufacturer or distributor to cover the costs of repairing the item? A) Service Contract. B) Implied Warranty. C) Express Warranty. D) Extended Warranty. Show Answer Correct Answer: A) Service Contract. 35. Who is defined as a "consumer" under the Consumer Protection Act, 2019? A) A person who manufactures goods. B) A person who avails services for commercial purposes. C) A person who buys goods or avails services for personal use. D) A person who buys goods for resale. Show Answer Correct Answer: C) A person who buys goods or avails services for personal use. 36. A retailer advertises a high-end TV at a very low price to lure shoppers, then claims it's sold out and pressures them to buy a pricier model. What practice does this describe? A) Authorized upselling. B) Comparative advertising. C) Loss leader promotion. D) Bait and switch scheme. Show Answer Correct Answer: D) Bait and switch scheme. 37. The Truth in Lending Act (TILA) helps borrowers understand the cost of credit. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 38. Which of the following is the relief available to a consumer under the Consumer Protection Act, 1986? A) To remove the defect in goods or deficiency in services. B) To replace the defective good with a new one, free from any defect. C) To refund the price paid for the product or the charges paid for the service. D) All of the above. Show Answer Correct Answer: D) All of the above. 39. True or False:The nutrition label only contains what ingredients are included in the product. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 40. Caveat emptor means A) Let the buyer beware. B) Let the seller beware. C) Let the producer beware. D) None of these. Show Answer Correct Answer: A) Let the buyer beware. 41. If a customer is not satisfied with the judgement of state commission, he can file appeal in: A) High Court. B) Supreme Court. C) National Commission. D) District Forum. Show Answer Correct Answer: C) National Commission. 42. A company reboxes previously returned headphones and advertises them as new. Which consumer protection principle is violated? A) Selling returned goods as new is prohibited. B) Cigarettes must carry health warning labels. C) Poisons must have a DANGER statement. D) Using similar brand names to confuse buyers. Show Answer Correct Answer: A) Selling returned goods as new is prohibited. 43. Green shelter concept was introduced by group ..... A) ICI. B) Reliance. C) ACME. D) Tata. Show Answer Correct Answer: C) ACME. 44. Which of the following is NOT covered by the Consumer Protection Act, 2019? A) Defective products. B) Unfair trade practices. C) Government regulations. D) Misleading advertisements. Show Answer Correct Answer: C) Government regulations. 45. Which consumer legislation aims to protect consumers from unfair debt collection practices? A) Fair Debt Collection Practices Act. B) Fair Credit Reporting Act. C) Dodd-Frank Act. D) Equal Housing Act. Show Answer Correct Answer: A) Fair Debt Collection Practices Act. 46. Poppy is studying consumer rights and comes across a regulation that protects consumers from unfair trading practices. She wants to know what year the Consumer Protection from Unfair Trading Regulations were enacted. Can you help her find out? A) 2008. B) 2005. C) 2012. D) 2010. Show Answer Correct Answer: A) 2008. 47. How is a significant imbalance in a contract calculated according to Dexia Nederland? A) Comparing to market prices. B) Considering the profit margin. C) Analyzing the consumer's financial status. D) Comparing to the national law applicable in the absence of the agreement. Show Answer Correct Answer: D) Comparing to the national law applicable in the absence of the agreement. 48. The right to know who requests to view their credit report over the past year A) Creditor. B) Debtor. C) Fair Credit Billing Act. D) Equal Credit Opportunity Act. E) Fair Credit Reporting Act. Show Answer Correct Answer: E) Fair Credit Reporting Act. 49. Identify the name of the law that gives consumers rights when purchasing goods, services and digital content A) Data Protection Act 1998. B) Consumer Rights Act 2015. C) Employment Rights Act 1996. D) Equality Act 2010. Show Answer Correct Answer: B) Consumer Rights Act 2015. 50. Caveat Venditor is the philosophy of "Let the Buyer Beware" . A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 51. A title that may be voided if the injured party chooses to do so. A) Injunction. B) Joint Statement. C) Voidable Title. D) Ignore and Deny. Show Answer Correct Answer: C) Voidable Title. 52. This is a consumer right that provides the right to be protected against the marketing of goods or the provision of services that are hazardous to health and life? A) Right to basic needs. B) Right to safety. C) Right to choose. D) Right to information. Show Answer Correct Answer: B) Right to safety. 53. When two people exchange services or good without using money A) Scams. B) Goods. C) Services. D) Bartering. Show Answer Correct Answer: D) Bartering. 54. Which entities are required to follow the Fair Credit Reporting Act? A) Only credit bureaus. B) Only data furnishers. C) Only businesses using credit reports. D) Credit bureaus, data furnishers, and businesses using credit reports. Show Answer Correct Answer: D) Credit bureaus, data furnishers, and businesses using credit reports. 55. True or False. The Consumer Credit Act ensures that regulated creditors are limited in the type of court action they can take? A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 56. One of the causes of the credit crunch was banks lending money to people who could not afford to repay it. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 57. True or False. The Financial Ombudsman Service don't make a final decision in cases and often just mediate between the two parties? A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 58. To publish a magazine under the title 'Upbhokta Jagran' is an example of which right of consumer? A) Right to safety. B) Right to consumer education. C) Right to be informed. D) Right to be heard. Show Answer Correct Answer: B) Right to consumer education. 59. What is the primary goal of the Truth in Lending Act? A) To reduce interest rates. B) To increase loan amounts. C) To promote informed use of consumer credit. D) To eliminate credit cards. Show Answer Correct Answer: C) To promote informed use of consumer credit. 60. The consumer protection Act in India was first enacted in which year? A) 1986. B) 2000. C) 2019. D) None of the above. Show Answer Correct Answer: A) 1986. ← 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