This quiz works best with JavaScript enabled. Home > Cbse > Class 12 > Commerce > Business Studies > Class 12 Business Studies Chapter 12 Consumer Protection – Quiz 4 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 12 Consumer Protection Quiz 4 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Match the following Indian Woman Personalities:a.) 1$^{st }$to climb Mount Everest-1. Kiran Bedib.) 1st Judge-2. Sucheta Kriplanic.) 1st CM of an Indian state-3. Fatima Bibid.) 1st speaker of Lok Sabha-4. Kanchan Chaudary Bhattacharyae.) 1st DGP-5. Meira Kumar6. Bachendri Pal A) 6 2 3 5 1. B) 4 2 3 5 6. C) 6 3 2 5 4. D) 6 3 2 5 1. Show Answer Correct Answer: C) 6 3 2 5 4. 2. ..... are regulations that protect consumers in the event they purchase a defective vehicle. A) Lemon Laws. B) Sinister Statutes. C) Automobile Acts. D) Vehicle Codes. Show Answer Correct Answer: A) Lemon Laws. 3. A person who relies on someone else to take care of them through income A) Claim. B) Deductible. C) Dependent. D) Beneficiary. Show Answer Correct Answer: C) Dependent. 4. How can consumers educate themselves about their rights? A) Consumers can educate themselves about their rights through research, advocacy groups, and workshops. B) Consumers can rely solely on friends for information about their rights. C) Consumers should ignore legal documents and focus on advertisements. D) Consumers can only learn about their rights from social media. Show Answer Correct Answer: A) Consumers can educate themselves about their rights through research, advocacy groups, and workshops. 5. It is the executive department of the Philippine government responsible for ensuring access to promoting equity among learners, and improving the quality of basic education. A) Department of Education. B) Department of Agriculture. C) Food and Drug Administration. D) Bangko Sentral ng Pilipinas. Show Answer Correct Answer: A) Department of Education. 6. When a consumer is unhappy with a purchase due to faults or safety concerns, which action aligns with recommended steps buyers might take to seek redress? A) Contact the seller to make a formal complaint and request repair, replacement, or refund. B) Ignore the issue and continue using the product despite concerns. C) Post only positive reviews to avoid confrontation. D) Buy additional units of the same product to test if the issue repeats. Show Answer Correct Answer: A) Contact the seller to make a formal complaint and request repair, replacement, or refund. 7. The new consumer protection act was passed by the Parliament in ..... A) 2021. B) 2019. C) 2022. D) 2020. Show Answer Correct Answer: B) 2019. 8. What does the Federal Deposit Insurance Corporation (FDIC) do? A) Protects the privacy of consumer credit reports. B) Enforces laws against deceptive advertising. C) Insures bank deposits up to $ 250, 000. D) Regulates the stock market. Show Answer Correct Answer: C) Insures bank deposits up to $ 250, 000. 9. The producers of the Astroworld Tragedy could be liable of A) Strict Liability. B) Cease and Desist Orders. C) Bait and Switch. D) Negligence. Show Answer Correct Answer: D) Negligence. 10. Apa yang dapat dilakukan konsumen jika mereka merasa tidak puas dengan layanan lembaga keuangan? A) Konsumen harus menyelesaikan masalah secara pribadi tanpa bantuan. B) Konsumen hanya dapat mengadukan masalah mereka di forum online. C) Konsumen dapat mengajukan keluhan kepada OJK atau lembaga perlindungan konsumen lainnya. D) Konsumen dapat mengabaikan masalah tersebut. Show Answer Correct Answer: C) Konsumen dapat mengajukan keluhan kepada OJK atau lembaga perlindungan konsumen lainnya. 11. In what ways can illiteracy affect consumer rights? A) Illiteracy can hinder understanding of consumer rights, leading to exploitation and reduced ability to seek redress. B) Illiteracy guarantees better consumer protection. C) Illiteracy has no impact on consumer rights. D) Illiteracy improves consumer rights awareness. Show Answer Correct Answer: A) Illiteracy can hinder understanding of consumer rights, leading to exploitation and reduced ability to seek redress. 12. Which of the following is NOT one of the three approaches to consumer law? A) The fairness approach. B) The transactional approach. C) The economic approach. D) The behavioral approach. Show Answer Correct Answer: B) The transactional approach. 13. What is a significant change introduced by the Consumer Protection Act, 2019? A) It increases product prices. B) It replaces the Consumer Protection Act of 1986. C) It eliminates consumer rights. D) It restricts consumer access to information. Show Answer Correct Answer: B) It replaces the Consumer Protection Act of 1986. 14. Which amongst the following are the aim of Consumer Protection Act 2019 A) To protect consumer from the company abusing its dominant position. B) To protect business who make false advertisement for fun. C) To give consumer education so that they know about their rights. D) To avoid consumer's complaint. Show Answer Correct Answer: C) To give consumer education so that they know about their rights. 15. Consumer should use ISI marked appliances is an example of A) Right to be heard. B) Right to choose. C) Right to safety. D) Right to be informed. Show Answer Correct Answer: C) Right to safety. 16. Voluntary bankruptcy is ..... A) File a petition with a federal court asking to be declared bankrupt. B) Creditors file a petition with the court, asking the court to declare you. C) Idk. D) You voluntarily take accountability and go bankrupt. Show Answer Correct Answer: A) File a petition with a federal court asking to be declared bankrupt. 17. Which of the following aims at protecting and promoting the consumer's interest? A) The Sale of Goods Act 1930. B) The Consumer Protection Act 1986. C) The Competition Act 2002. D) The Trade Marks Act 1999. Show Answer Correct Answer: B) The Consumer Protection Act 1986. 18. A consumer should be fully aware about the availability of competing product so that he can make a better decision which gives him better satisfaction. This sentence highlights which responsibility of a consumer? A) Precaution in buying. B) Being aware about risk involved. C) Be aware about product availability. D) All of above. Show Answer Correct Answer: C) Be aware about product availability. 19. Which consumer right gives the freedom to business firms to set up their own consumer grievance cell? A) Right to choose to. B) Right to consumer education. C) Right to be informed. D) Right to be heard. Show Answer Correct Answer: B) Right to consumer education. 20. What is one potential risk of e-commerce? A) Exposure to unsafe products. B) Limited access to online shopping. C) Reduced availability of goods. D) Increased convenience for consumers. Show Answer Correct Answer: A) Exposure to unsafe products. 21. Against whom product liability action be claimed? A) Product Manufacturer. B) Product Seller. C) Service Providers. D) Only option 1 & 2. E) All of the above. Show Answer Correct Answer: D) Only option 1 & 2. 22. What type of policies will be critical in paving the way forward? A) Policies encouraging international cooperation. B) Policies focusing on economic interests. C) Policies promoting sustainability. D) Policies regulating the digital marketplace. Show Answer Correct Answer: C) Policies promoting sustainability. 23. Why should employees act as if customers are their employer? A) Employees would not have jobs if there were no customers. B) Customers pay employees' bonuses. C) Employees might work for the customers in the future. D) Customers own the business. Show Answer Correct Answer: A) Employees would not have jobs if there were no customers. 24. What is the primary characteristic of "bait and switch" advertising? A) Sending unordered goods through the mail. B) Providing false information about product quality. C) Offering special deals to consumers. D) Advertising products at enticing prices. Show Answer Correct Answer: D) Advertising products at enticing prices. 25. Why is it important to regularly check your bank and credit card statements for unfamiliar transactions? A) To ensure you're not overspending. B) To keep track of your subscriptions. C) To report to the bank for a refund. D) To identify any unauthorized transactions that could indicate identity theft. Show Answer Correct Answer: D) To identify any unauthorized transactions that could indicate identity theft. 26. True or False. The Financial Services Compensation Scheme covers deposits in banks, building societies and credit unions? A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 27. What is a common feature of "advance fee" scams? A) They provide guaranteed returns on investments. B) They offer free services with no strings attached. C) They are endorsed by government agencies. D) They require an upfront payment for a promised service or benefit. Show Answer Correct Answer: D) They require an upfront payment for a promised service or benefit. 28. What role does technology play in OJK's consumer protection efforts? A) Technology is primarily used for marketing purposes in OJK. B) Technology plays a crucial role in improving data management, consumer education, and regulatory compliance in OJK's consumer protection efforts. C) Technology only complicates data management for OJK. D) Technology has no impact on consumer education efforts. Show Answer Correct Answer: B) Technology plays a crucial role in improving data management, consumer education, and regulatory compliance in OJK's consumer protection efforts. 29. It is clearly stated in the legal framework of India that the information regarding the product, its content, date of manufacturing, expiry, etc should be printed on the package. Identify the right of consumer highlighted here. A) Right to safety. B) Right to be heard. C) Right to choose. D) Right to be informed. Show Answer Correct Answer: D) Right to be informed. 30. Imagine Anaya is shopping for a new smartphone. What does the right to be informed entail for her as a consumer? A) Only partial information should be provided to consumers. B) Consumers must be given sufficient correct information to make informed purchase decisions. C) Consumers should be given incorrect information. D) Information is not necessary for consumer decisions. Show Answer Correct Answer: B) Consumers must be given sufficient correct information to make informed purchase decisions. 31. What should a consumer do after receiving a damaged product? A) Sell it. B) Keep it. C) Contact the seller or file a complaint. D) Call the police. Show Answer Correct Answer: C) Contact the seller or file a complaint. 32. In India, the consumer protection act was initiaed in the year A) 1986. B) 1989. C) 2000. D) 1947. Show Answer Correct Answer: A) 1986. 33. What is one of the key roles of the Financial Services Compensation Scheme (FSCS)? A) To compensate consumers for losses due to firm failures. B) To provide insurance for financial firms. C) To offer financial planning services. D) To regulate interest rates. Show Answer Correct Answer: A) To compensate consumers for losses due to firm failures. 34. The role of the OFT is A) To permit financial service providers to trade. B) To encourage fair practices and healthy competition between financial institutions. C) All the above. D) None of the above. Show Answer Correct Answer: B) To encourage fair practices and healthy competition between financial institutions. 35. The complaints filed in the State Commission are where the value of goods and services, along with the compensation claimed is: A) More than ₹ 1 crore but less than ₹ 10 crore. B) More than ₹ 20 lakhs but less than ₹ 1 crore. C) Less than ₹ 20 lakhs. D) More than ₹ 10 lakhs but less than ₹ 20 lakhs. Show Answer Correct Answer: A) More than ₹ 1 crore but less than ₹ 10 crore. 36. A written contract specifying the terms for the use of an asset is called: A) Loose. B) Lease. C) Paper. D) Signing your life away. Show Answer Correct Answer: B) Lease. 37. Which of the following is NOT typically considered a remedy available to consumers under consumer protection laws? A) Criminal prosecution of businesses. B) Rescission of contract. C) Injunctive relief. D) Monetary damages. Show Answer Correct Answer: A) Criminal prosecution of businesses. 38. What is the time frame for resolving consumer disputes under the Act? A) 120 days. B) 30 days. C) 90 days. D) 60 days. Show Answer Correct Answer: C) 90 days. 39. The final aim of modern marketing is ..... A) Minimum profit. B) Service to the society. C) Consumer satisfaction. D) Maximum profit. Show Answer Correct Answer: C) Consumer satisfaction. 40. What does COBRA status allow you to do? A) Add more people to your insurance plan. B) Stay on your employer's insurance plan after you lose your job. C) Apply for health insurance as an individual. D) None of the above. Show Answer Correct Answer: B) Stay on your employer's insurance plan after you lose your job. 41. What is the focus of the CFPB? A) To promote fairness in securities markets. B) To ensure consumer financial products are fair and transparent. C) To prevent deceptive business practices. D) To regulate international trade. Show Answer Correct Answer: B) To ensure consumer financial products are fair and transparent. 42. A consumer has a right to file a complaint in case of dissatisfaction, which right of consumer is refered to here? A) Right to seek redressal. B) Right to information. C) Right to safety. D) Right to be heard. Show Answer Correct Answer: D) Right to be heard. 43. What potential risks can arise from the use of machine learning and artificial intelligence in the consumer marketplace? A) Increased personalization and enhanced product safety. B) Exposure to social biases and discrimination. C) Improved convenience and reduced environmental impact. D) Compromised safety due to software glitches or hackers. Show Answer Correct Answer: B) Exposure to social biases and discrimination. 44. Who can file a complaint under CPA 2019? A) Any consumer, group of consumers, or recognized consumer organization. B) Only companies. C) Only shopkeepers. D) Only lawyers. Show Answer Correct Answer: A) Any consumer, group of consumers, or recognized consumer organization. 45. The Provisions of Consumer Protection act came into force from: A) 1987. B) 1988. C) 1986. D) 1991. Show Answer Correct Answer: C) 1986. 46. What factors did the Court consider while making the manufacturer strictly liable for the products manufactured? A) Safety and durability. B) Cost and marketing. C) Design and manufacture. D) All of the above. Show Answer Correct Answer: D) All of the above. 47. What type of practices does the Consumer Protection Act, 2019 aim to prevent? A) Consumer education. B) Fair trade practices. C) Government regulations. D) Unfair trade practices. Show Answer Correct Answer: D) Unfair trade practices. 48. Which exhibits the right to enjoy freedom in the choice of goods or services? A) Consumers are free to purchase goods and services without being influenced by unfair entrepreneurs. B) This is done through suggestions and warnings stated which will help prevent damages. C) The labels of goods or advertisements will be examined with careful consideration. D) Avoid those entrepreneurs not to take advantage of the consumers. Show Answer Correct Answer: A) Consumers are free to purchase goods and services without being influenced by unfair entrepreneurs. 49. Which of the following best describes the purpose of consumer protection laws? A) To ensure businesses can set any price they wish. B) To safeguard consumers from unfair, misleading, or unsafe business practices. C) To protect the environment from industrial waste. D) To guarantee all employees receive a pension. Show Answer Correct Answer: B) To safeguard consumers from unfair, misleading, or unsafe business practices. 50. Which of the following is an example of unethical marketing's impact on consumer health? A) Offering discounts. B) Providing free shipping. C) Faulty goods causing injury. D) Extended warranties. Show Answer Correct Answer: C) Faulty goods causing injury. 51. Someone uses your name, social security number, or other personal information without permission A) Income theft. B) Theft of credit. C) Identity theft. D) Identity tracking. Show Answer Correct Answer: C) Identity theft. 52. Which of the following is a benefit of the Dodd-Frank Wall Street Reform and Consumer Protection Act? A) Individuals receive aid without regard to location. B) Banks are more profitable. C) Individuals have access to more credit. D) Public money can be used to bail out large firms. Show Answer Correct Answer: A) Individuals receive aid without regard to location. 53. Promotion of a product can include all of the following except: A) Redesigning a product to make it look more modern. B) Advertising a new product. C) Personal selling by using sales representatives. D) Offering coupons to encourage increased sales. Show Answer Correct Answer: A) Redesigning a product to make it look more modern. 54. It's illegal for debt collectors to threaten or harass people. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 55. Where the consumer movement was first started? A) Great Britain. B) America. C) Japan. D) India. Show Answer Correct Answer: A) Great Britain. 56. You buy a product without written promises. Which protection arises by law even if the seller says nothing? A) Express warranty by agreement. B) Puffing as sales language. C) Implied warranties from law. D) Optional extended protection plan. Show Answer Correct Answer: C) Implied warranties from law. 57. Pooja went to the grocery store to buy monthly grocery goods. She purchased items as per her requirements. She insisted the seller to give her a discount of 15% as every seller offers the same. Which consumer responsibility is fulfilled by her? A) Buy only standardised goods. B) Read labels carefully. C) Assert yourself to ensure that you get a fair deal. D) Be honest in your dealings. Show Answer Correct Answer: C) Assert yourself to ensure that you get a fair deal. 58. What is the purpose of the Restore Online Shoppers' Confidence Act (ROSCA)? A) To prohibit the sale of user data by third-party payment processors. B) To protect consumers from telemarketing scams. C) To ensure fair housing practices. D) To regulate the collection of credit information. Show Answer Correct Answer: A) To prohibit the sale of user data by third-party payment processors. 59. The consumer has a right to get relief in case of defective goods or deficient services as per the ..... A) Right to be informed. B) Right to be heard. C) Right to be assured. D) Right to seek redressal. Show Answer Correct Answer: D) Right to seek redressal. 60. Which of the following is a type of customer? A) Single. B) Bad customer. C) Super customer. D) Need-based. Show Answer Correct Answer: D) Need-based. ← 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 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