This quiz works best with JavaScript enabled. Home > Cbse > Class 12 > Commerce > Business Studies > Class 12 Business Studies Chapter 12 Consumer Protection – Quiz 26 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 12 Consumer Protection Quiz 26 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which organisation regulates the financial markets? A) FCA. B) FOS. C) OFT. D) None of the above. Show Answer Correct Answer: C) OFT. 2. Edison removed a binding protective flap and his son was injured. Which legal reasoning most supports the manufacturer's defense? A) Duty to warn despite obvious hazard. B) Strict liability despite consumer alteration. C) Res ipsa loquitur proving negligence. D) Assumption of risk from altering safety device. Show Answer Correct Answer: D) Assumption of risk from altering safety device. 3. An oral or written statement, promise, or other representation about the quality of a product A) Express Warranty. B) Implied Warranty. C) All the above. D) None of the above. Show Answer Correct Answer: A) Express Warranty. 4. The Consumer Protection Act, 2019 replaced the earlier Act of- A) 1984. B) 1986. C) 1991. D) None of the above. Show Answer Correct Answer: B) 1986. 5. Who appoints the State commission members? A) Supreme Court. B) Central Government. C) State Government. D) District Collector. Show Answer Correct Answer: C) State Government. 6. The BBB stands for which? A) The Boss' Bureau on Business. B) The Business' Bureau of Business. C) The Better Business Bureau. D) None of the above. Show Answer Correct Answer: C) The Better Business Bureau. 7. Who can file a complaint with the District Forum? A) Only the consumer to whom goods/services are sold. B) Only recognized consumer association. C) Any consumer having the same interest with permission of the District Forum. D) All of the above. Show Answer Correct Answer: D) All of the above. 8. Mira recently learned about consumer rights in her class. She was curious and asked her teacher, "Which Act established the Central Consumer Protection Authority?" A) Consumer Rights Act, 2020. B) Consumer Protection Act, 1986. C) Trade Practices Act, 2018. D) Consumer Protection Act, 2019. Show Answer Correct Answer: D) Consumer Protection Act, 2019. 9. Who is said to be a king in the free market economy? A) Seller. B) Investor. C) Dealer. D) Consumer. Show Answer Correct Answer: D) Consumer. 10. Which of the following is NOT a requirement for a valid warranty? A) It must specify the duration of coverage. B) It must be in writing. C) It must be provided at the time of sale. D) It must cover all types of damages. Show Answer Correct Answer: D) It must cover all types of damages. 11. It is the executive department of the Philippine government responsible for the promotion of agricultural and fisheries development and growth. A) Department of Agriculture. B) Food and Drug Administration. C) Department of Trade and Industry. D) Department of Health. Show Answer Correct Answer: A) Department of Agriculture. 12. What are the legal avenues to resolving disputes of consumer interests? A) Approach the supplier. B) Contact the media. C) Ignore the issue. D) Leave a bad review online. Show Answer Correct Answer: A) Approach the supplier. 13. Which of the following laws gives consumer three days to cancel contracts made with door-to-door salespersons? A) The Consumer Protection Act. B) The Truth in Lending Act. C) Federal Trade Commission Regulation. D) The Sales Act. Show Answer Correct Answer: C) Federal Trade Commission Regulation. 14. This right protects a consumer from hazardous goods A) Right to choose. B) Right to safety. C) Right to consumer education. D) Right to seek redressal. Show Answer Correct Answer: B) Right to safety. 15. Which of the following was NOT a petroleum related environmental disaster. A) Iraq destruction of Kuwaiti oil fields. B) Chernobyl. C) Exxon Valdez. D) Deepwater Horizon. Show Answer Correct Answer: B) Chernobyl. 16. What is the last step in the consumer complaint process? A) Speak to a manager. B) Contact the manufacturer. C) Contact a consumer group. D) Bring a lawsuit. Show Answer Correct Answer: D) Bring a lawsuit. 17. When is consumer day celebrated? A) 14th March. B) 15th March. C) 10th March. D) 18th March. Show Answer Correct Answer: B) 15th March. 18. What measures does the Standards Organization of Nigeria take to ensure product quality? A) Offering discounts on products. B) The Standards Organization of Nigeria ensures product quality by setting standards, conducting inspections, certifying compliant products, and enforcing regulations. C) Providing free samples to consumers. D) Conducting market surveys. Show Answer Correct Answer: B) The Standards Organization of Nigeria ensures product quality by setting standards, conducting inspections, certifying compliant products, and enforcing regulations. 19. Which of the following is an independent organisation with a remit to regulate the actions of providers of financial services? A) Consumer Credit Act. B) Financial Ombudsman Service. C) Financial Services Compensation Scheme. D) Financial Conduct Authority. Show Answer Correct Answer: D) Financial Conduct Authority. 20. Which of the following shows business to consumer side of E-commerce? A) E-Security. B) E-tailing. C) E-marketing. D) E-Advertising. Show Answer Correct Answer: B) E-tailing. 21. The responsibility for loss or damage to goods. A) Plea. B) Ownership. C) Risk of Loss. D) Consideration. Show Answer Correct Answer: C) Risk of Loss. 22. Written guarantee that comes in two forms:Full Warranty or Limited Warranty. A) Implied Warranty. B) Express Warranty. C) All the above. D) None of the above. Show Answer Correct Answer: B) Express Warranty. 23. What is the maximum age limit for members of District Forum? A) 68. B) 65. C) 70. D) 67. Show Answer Correct Answer: B) 65. 24. Agency concerned on Products related to agriculture A) Department of Agriculture. B) Department of Health. C) Department of Trade and Industry. D) Department of Finance. Show Answer Correct Answer: A) Department of Agriculture. 25. ..... are made to hear complaints of the value less than 1 crore A) State Commission. B) District Commission. C) National Comission. D) None of the above. Show Answer Correct Answer: B) District Commission. 26. Which authority can take suo moto action against unfair trade practices? A) District Forum. B) National Commission. C) State Commission. D) Central Consumer Protection Authority (CCPA). Show Answer Correct Answer: D) Central Consumer Protection Authority (CCPA). 27. What does privity of contract imply in product liability? A) Any injured party can claim compensation. B) The manufacturer is not liable. C) The seller is always liable. D) Only the consumer who entered into the contract can claim. Show Answer Correct Answer: D) Only the consumer who entered into the contract can claim. 28. What is the purpose of consumer courts? A) To regulate prices. B) To provide entertainment. C) To settle consumer disputes. D) To promote businesses. Show Answer Correct Answer: C) To settle consumer disputes. 29. Which of the following skills is essential for effective teamwork in the workplace? A) Communication skills. B) Technical expertise. C) Punctuality. D) Positive work ethic. Show Answer Correct Answer: A) Communication skills. 30. What do you NOT have protection with consumer protection laws? A) Fake or misleading products. B) Fake brand names/logos. C) Home solicitation. D) Persuasive advertising. Show Answer Correct Answer: D) Persuasive advertising. 31. Only the federal government can enforce consumer protection laws. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 32. The goods which satisfy human wants directly are called: A) Public goods. B) Consumer goods. C) Producer goods. D) Intermediate goods. Show Answer Correct Answer: B) Consumer goods. 33. What is the pecuniary jurisdiction of distinct forum? A) 15 lakhs. B) 20 lakhs. C) 5 lakhs. D) 10 lakhs. Show Answer Correct Answer: B) 20 lakhs. 34. Which organisation's work focuses on supervision to ensure procedures and practices are in the interests of the consumer? A) Office of Fair Trading (OFT). B) Financial Ombudsmen Service (FOS). C) Financial Conduct Authority(FCA). D) None of the above. Show Answer Correct Answer: C) Financial Conduct Authority(FCA). 35. Which section of the Act deals with mediation? A) Section 74. B) Section 25. C) Section 69. D) Section 58. Show Answer Correct Answer: A) Section 74. 36. What constitutes unfair trade practices according to the Act? A) Transparent pricing strategies. B) Accurate product descriptions. C) Unfair trade practices include deceptive advertising, false representation, misleading pricing, and creating unfair competitive advantages. D) Promotional discounts for loyal customers. Show Answer Correct Answer: C) Unfair trade practices include deceptive advertising, false representation, misleading pricing, and creating unfair competitive advantages. 37. Which organisation protects savers in banks and building societies up to £5, 000? A) Financial Conduct Authority. B) Financial Services Compensation Scheme. C) Financial Ombudsmen Service. D) None of the above. Show Answer Correct Answer: B) Financial Services Compensation Scheme. 38. Truth in Lending Act of 1968 informs people of ..... A) Security interest. B) APR. C) Amount financed. D) All of the above. Show Answer Correct Answer: D) All of the above. 39. Atisha buys a mobile phone from Rupert for RM 800. One week later, while Atisha uses his mobile, it explodes and causes severe burns to Atisha. Atishay complaint to Rupert for replacement but Rupert refuses to replace. Name the right which is being violated by Rupert . A) Right to redress. B) Right to Safety. C) Right to be heard. D) Right to Consumer Education. Show Answer Correct Answer: A) Right to redress. 40. A consumer is any person who buys goods for resale. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 41. Consumers have a legal responsibility to:answer choices A) Get a refund for a product that isn't working. B) Become informed about the products they are buying. C) Leave online reviews to help other people. D) Make sure they are not damaging the environment. Show Answer Correct Answer: B) Become informed about the products they are buying. 42. Which of the following is NOT one of the objectives of the Dodd-Frank Wall Street Reform and Consumer Protection Act? A) Increase regulation. B) Protect predatory lending. C) Strengthen consumer protections. D) Improve transparency. Show Answer Correct Answer: B) Protect predatory lending. 43. Consider the following statements:1. Indira Gandhi was the 1$^{st }$Woman Defense & Finance Minister of India2. Sushma Swaraj was the 1$^{st}$ Woman youngest minister of an Indian state & also the 1$^{st}$ Women to hold a Union Foreign Minister's post A) 2 only. B) 1 only. C) Both 1 & 2. D) Neither 1 nor 2. Show Answer Correct Answer: C) Both 1 & 2. 44. Which scenario best matches identity theft? A) A hacker breaks into a company database without permission. B) You receive a suspicious email asking to verify your password. C) An investor joins a plan that pays old members with new money. D) Someone uses another person's SSN to open a credit card. Show Answer Correct Answer: D) Someone uses another person's SSN to open a credit card. 45. Why is it important to report errors on a credit report? A) Errors can negatively impact a consumer's credit score. B) Errors are automatically corrected over time. C) Errors increase the likelihood of identity theft. D) Errors lead to higher interest rates automatically. Show Answer Correct Answer: A) Errors can negatively impact a consumer's credit score. 46. The protection or promotion of the interests of consumers A) Consumer promotion. B) Consumer Affairs. C) Consumerism. D) Consumption. Show Answer Correct Answer: C) Consumerism. 47. It is the executive department of the Philippine Government tasked as the main economic catalyst that enables businesses become innovative, competitive, job generating, and inclusive; and empowers consumers. A) Department of Health. B) Department of Trade and Industry. C) Food and Drug Administration. D) Department of Agriculture. Show Answer Correct Answer: B) Department of Trade and Industry. 48. Luring consumers with an advertised, but nonexistent bargain, and switching them to a more expensive product A) Loss leader. B) Cooling off period. C) Warranty. D) Bait and switch. Show Answer Correct Answer: D) Bait and switch. 49. Minimum age limit of the member of District forum is- A) 35 years. B) 25 years. C) 50 years. D) 40 years. Show Answer Correct Answer: A) 35 years. 50. What is the 'Lemon Law'? A) A law for real estate. B) Consumer protection law for defective goods. C) A law for business transactions. D) A law about fruit sales. Show Answer Correct Answer: B) Consumer protection law for defective goods. 51. If you are a victim of identity theft, what is one of the first steps you should take? A) Ignore the issue and hope it resolves itself. B) Get replacement credit cards. C) Share your experience on social media. D) Change your phone number. Show Answer Correct Answer: B) Get replacement credit cards. 52. Which Act specifically provides for consumer protection in Malaysia? A) Competition Act 2010. B) Consumer Protection Act 1999. C) Sale of Goods Act 1957. D) Contracts Act 1950. Show Answer Correct Answer: B) Consumer Protection Act 1999. 53. Which of the following is a requirement for conducting home solicitation sales? A) Sales can be conducted at any time of the day. B) No permits are required for home solicitation sales. C) Sales must be conducted by individuals with proper identification. D) Sales can be conducted without notifying the Department. Show Answer Correct Answer: C) Sales must be conducted by individuals with proper identification. 54. To be a chairperson or member of the National Commission, the person should have completed the age of A) 70 years. B) 50 years. C) 40 years. D) 60 years. Show Answer Correct Answer: B) 50 years. 55. What remedies are available to consumers for defective services? A) Refund, repair, re-performance, complaint to agencies, legal action. B) Gift card for unrelated products. C) Discount on future services. D) Free trial of another service. Show Answer Correct Answer: A) Refund, repair, re-performance, complaint to agencies, legal action. 56. A(n) ..... is an act that misleads consumers. A) Telemarketer. B) Unfair & deceptive practice. C) Caveat Venditor. D) Consumer. Show Answer Correct Answer: B) Unfair & deceptive practice. 57. What is one of the rights of a consumer regarding safety? A) Right to choose any product. B) Right to return any product. C) Right to be informed about prices. D) Right to safety against hazardous goods. Show Answer Correct Answer: D) Right to safety against hazardous goods. 58. Assurance given by one party to an agreement to the other A) Auction. B) COD. C) Bait and switch. D) Warranty. Show Answer Correct Answer: D) Warranty. 59. Which legislation governs consumer credit in Great Britain? A) The Financial Services Act 2012. B) The Consumer Rights Act 2015. C) The Data Protection Act 2018. D) The Consumer Credit Act 1974. Show Answer Correct Answer: D) The Consumer Credit Act 1974. 60. FSCS stands for which of the following statements ..... A) Financial Services Customer System. B) Financial Services Compensation Scheme. C) Financial Services Compensation System. D) Financial System Customer Scheme. Show Answer Correct Answer: B) Financial Services Compensation Scheme. ← 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