This quiz works best with JavaScript enabled. Home > Cbse > Class 12 > Commerce > Business Studies > Class 12 Business Studies Chapter 12 Consumer Protection – Quiz 6 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 12 Consumer Protection Quiz 6 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. As per the Consumer Disputes Redressal Commission Rules, there will be no fee for filing cases up to ..... A) 5 LAKH. B) 10 LAKH. C) 3 LAKH. D) 15 LAKH. Show Answer Correct Answer: A) 5 LAKH. 2. Palak went to a shopkeeper to buy a hair oil. The shopkeeper forced her to buy a particular brand of hair-oil out of various available brands, irrespective of the willingness of Palak. Which right of Palak, as a consumer, has been violated? A) Right to consumer education. B) Right to safety. C) Right to be assured. D) Right to be heard. Show Answer Correct Answer: C) Right to be assured. 3. What is the purpose of the Right to Consumer Education? A) To teach consumers about their rights and responsibilities. B) To stop consumers from buying expensive products. C) To promote only branded products. D) To help businesses educate sellers. Show Answer Correct Answer: A) To teach consumers about their rights and responsibilities. 4. What role does education play in consumer rights awareness? A) Education plays a crucial role in increasing consumer rights awareness. B) Education has no impact on consumer rights awareness. C) Education is only relevant for academic subjects. D) Education decreases consumer rights awareness. Show Answer Correct Answer: A) Education plays a crucial role in increasing consumer rights awareness. 5. Apa yang dimaksud dengan perlindungan konsumen dalam sektor keuangan? A) Perlindungan konsumen hanya berlaku untuk produk asuransi. B) Perlindungan konsumen adalah upaya untuk meningkatkan keuntungan lembaga keuangan. C) Perlindungan konsumen adalah langkah untuk memastikan hak-hak konsumen dihormati dan dilindungi dalam transaksi keuangan. D) Perlindungan konsumen tidak relevan dalam transaksi online. Show Answer Correct Answer: C) Perlindungan konsumen adalah langkah untuk memastikan hak-hak konsumen dihormati dan dilindungi dalam transaksi keuangan. 6. The Financial Conduct Authority (FCA) is funded by A) Membership fees. B) Government. C) All the above. D) None of the above. Show Answer Correct Answer: A) Membership fees. 7. What does the Telephone Consumer Protection Act ensure? A) Consumers are protected from securities fraud. B) Consumers have access to affordable housing. C) Consumers receive free credit reports. D) Consumers are not harassed by telemarketers. Show Answer Correct Answer: D) Consumers are not harassed by telemarketers. 8. Which of the following power can Central Authority exercise? A) Recall goods or withdrawal of service if harmful and hazardous. B) Reimbursement of price of the goods and services recalled. C) Discontinuance of activities against the interest of the consumers. D) All of the above. Show Answer Correct Answer: D) All of the above. 9. Ask for a ..... on purchase of goods and services. A) Warranty. B) Bill. C) Sabkuch. D) None of the above. Show Answer Correct Answer: B) Bill. 10. The complaints involving goods and services of value more then 1 crore and till 10 crore is addressed by which commission? A) District consumer dispute redressal commission. B) National Consumer dispute redressal commission. C) State consumer dispute redressal commission. D) All of the above. Show Answer Correct Answer: C) State consumer dispute redressal commission. 11. Who is the chairperson of the Central Consumer Protection Council? A) Sh. B.L. Verma. B) Smt. Nidhi Khare. C) Sh. Pralhad Joshi. D) Smt. N.J. Bambhaniya. Show Answer Correct Answer: C) Sh. Pralhad Joshi. 12. The FCA is an independent organisation with a ..... to regulate the providers of financial sevices A) Plan. B) Remit. C) All the above. D) None of the above. Show Answer Correct Answer: B) Remit. 13. As per Consumer Protection Act an appeal can be filed within- A) 2 years. B) 3 years. C) 4 years. D) None of these. Show Answer Correct Answer: A) 2 years. 14. In which forum it is compulsory to have a female member A) National commission. B) State commission. C) District commission. D) All of the above. Show Answer Correct Answer: D) All of the above. 15. Yash is not satisfied with the judgement of State Commission and he wants to file an appeal in National Commission within 30 days of judgement given by state commission. Can he? A) Yes. B) No. C) All the above. D) None of the above. Show Answer Correct Answer: A) Yes. 16. Which method is NOT a common way identity theft occurs? A) Phishing. B) Direct deposit. C) Dumpster diving. D) Skimming. Show Answer Correct Answer: B) Direct deposit. 17. If the market has enough qualities and varieties of product at competitive prices, then buyer have an opportunity of wise selection. Identify the consumer right discussed. A) Right to consumer education. B) Right to safety. C) Right to seek redressal. D) Right to choose. Show Answer Correct Answer: D) Right to choose. 18. Match the Following:a.) COPRA Act-1.) 1986b.) Essential Commodities Act 2.) 1955c.) Prevention of Black Marketing & maintenance of supplies of essential Commodities Act (PBMSECA)-3.) 1980d.) Bureau of Indian Standards Act-4.) 20095.) 2019 A) 1 3 2 5. B) 1 5 3 4. C) 1 2 3 4. D) 5 2 3 1. Show Answer Correct Answer: D) 5 2 3 1. 19. How many Rights are their in Consumer Protection Act. A) 3. B) 4. C) 5. D) 6. Show Answer Correct Answer: C) 5. 20. When the value of goods and services, along with compensation claimed is more than ₹ 1 crore but less than ₹ 10 crore, then the complaint can be filed in ..... A) District Forum. B) State Commission. C) National Commission. D) None of these. Show Answer Correct Answer: B) State Commission. 21. This is what the FTC issues a company to stop using an ad that is deliberately deceptive. A) Fraudulent ticket. B) Stop and remove order. C) Cease and desist order. D) Unfair trading ticket. Show Answer Correct Answer: C) Cease and desist order. 22. On your Instagram page, it's a good idea to: A) Post lots of pictures of your friends without asking them. B) Tell people where you are and what you're doing, all the time. C) Know your privacy settings and check them when the site's policies change. D) Be outrageous, since nobody but your friends will see what you post. Show Answer Correct Answer: C) Know your privacy settings and check them when the site's policies change. 23. Which quality mark is used for food product? A) ISI. B) FPO. C) Hallmark. D) AGMARK. Show Answer Correct Answer: B) FPO. 24. What is the role of the National Consumer Disputes Redressal Commission? A) To increase product prices. B) To promote unfair trade practices. C) To limit consumer rights. D) To resolve consumer disputes at a national level. Show Answer Correct Answer: D) To resolve consumer disputes at a national level. 25. The Pathfinder of consumer protection is- A) L.H Hanney. B) Richard Cantilon. C) Ralph Nader. D) R.N Owen. Show Answer Correct Answer: C) Ralph Nader. 26. True or False. The Financial Services Compensation Scheme is funded by levies paid for by regulated providers? A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 27. True or False. The Financial Services Compensation Scheme protects savers in banks and building societies up to £85, 000? A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 28. Covers insurance of home or apartment property, including possessions A) Automobile insurance. B) Renters insurance. C) Homeowners insurance. D) Homeowners and renters insurance. Show Answer Correct Answer: D) Homeowners and renters insurance. 29. When a phone call from an unknown source notifies you that you have won a prize but you need to pay in advance to receive the prize, what should you do? A) Pay the fee immediately and expect to receive the prize quickly. B) Check the identity of the other party to confirm the authenticity of the activity. C) All the above. D) None of the above. Show Answer Correct Answer: B) Check the identity of the other party to confirm the authenticity of the activity. 30. What is a potential consequence for businesses forming illegal cartels? A) Tax reductions. B) Fines up to 10% of turnover. C) Increased market share. D) Government subsidies. Show Answer Correct Answer: B) Fines up to 10% of turnover. 31. Rights of a consumer are protected under A) Consumer Protection Act, 1980. B) Consumer Protection Act, 1976. C) Consumer Protection Act, 1988. D) Consumer Protection Act, 1986. Show Answer Correct Answer: D) Consumer Protection Act, 1986. 32. Agency concerned on other consumer products not specified above. A) Department of Trade and Industry. B) Department of Agriculture. C) Department of Health. D) Department of Finance. Show Answer Correct Answer: A) Department of Trade and Industry. 33. Which government agency enforces consumer protection laws and seeks to ensure competitive markets? A) Federal Trade Commission. B) National Consumers' League. C) Better Business Bureau. D) Federal Reserve System. Show Answer Correct Answer: A) Federal Trade Commission. 34. You get a pop-up or an email that says your security software is out of date. You should: A) Click on the link to update your security software. B) Close the pop-up or delete the email. C) Click the link and hope for the best. D) Not have security software. Show Answer Correct Answer: B) Close the pop-up or delete the email. 35. Which act requires lenders to clearly explain loan terms and interest rates? A) FDCPA. B) TILA. C) FCRA. D) CPA. Show Answer Correct Answer: B) TILA. 36. ..... means a consumer has right to be protected against the marketing of such goods and services that are harmful to life and health. A) Right to Security. B) Right to Safety. C) Both A and B. D) None of the above. Show Answer Correct Answer: B) Right to Safety. 37. Consumers can ask anything regarding date of manufacture, price, quantity, etc., is an example of; A) Right to be heard. B) Right to safety. C) Right to be informed. D) Right to be assured. Show Answer Correct Answer: C) Right to be informed. 38. THE BASIC CONSUMER RIGHTS WAS DEFINED BY MR. JOHN F. KENNEDY A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: A) TRUE. 39. Which federal agency regulates unfair methods of competition, false advertising, and deceptive product labeling? A) Securities and Exchange Commission (SEC). B) Consumer Financial Protection Bureau (CFPB). C) Better Business Bureau (BBB). D) Federal Trade Commission (FTC). Show Answer Correct Answer: D) Federal Trade Commission (FTC). 40. This type of warranty provides less coverage than a full warranty A) Express warranty. B) Limited warranty. C) Implied warranty. D) Extended warranty. Show Answer Correct Answer: B) Limited warranty. 41. What should you do if you suspect your identity has been stolen? A) Ignore it and hope it goes away. B) Report it to the authorities and your financial institutions. C) Post about it on social media. D) Share your passwords with friends for help. Show Answer Correct Answer: B) Report it to the authorities and your financial institutions. 42. An agreement where the buyer obtains the good, but the seller retains ownership until full price is paid by the buyer: A) Hire Purchase. B) Nothing Down for 30 days. C) Layaway. D) A Sou Sou. Show Answer Correct Answer: A) Hire Purchase. 43. What does the Financial Services Compensation Scheme (FSCS) do? A) It provides loans to small businesses. B) It compensates consumers if financial firms fail. C) It regulates the stock market. D) It offers financial advice to consumers. Show Answer Correct Answer: B) It compensates consumers if financial firms fail. 44. The consumer organisation 'Consumer Guidance Society of India (CGSI)' is located in: A) Chennai. B) Kolkata. C) Mumbai. D) Delhi. Show Answer Correct Answer: C) Mumbai. 45. A consumer purchases a household product and suspects it is unsafe. What is the most appropriate first rationale for protection under caveat venditor? A) Only the Better Business Bureau can judge product quality. B) Legislation obliges sellers to ensure fair and safe products. C) The buyer alone must assess product utility and risk. D) Class action suits replace all individual legal options. Show Answer Correct Answer: B) Legislation obliges sellers to ensure fair and safe products. 46. When was the Consumer Protection Act passed in India? A) 1976. B) 1984. C) 1986. D) 1968. Show Answer Correct Answer: C) 1986. 47. Which of the following statements about consumer warranties is false? A) A warranty can be voided if the product is misused. B) A warranty is only applicable to new products. C) A warranty must be honored by the retailer regardless of the manufacturer's actions. D) All warranties must be in writing to be valid. Show Answer Correct Answer: B) A warranty is only applicable to new products. 48. Pure play retailers are called ..... A) Transaction brokers. B) Market creators. C) Merchants. D) Agents. Show Answer Correct Answer: A) Transaction brokers. 49. Your identify was stolen! What is the first thing you should do? A) Contact the credit bureau. B) Notify all account holders. C) File an identity theft report with the police. D) Steal someone else's identity. Show Answer Correct Answer: B) Notify all account holders. 50. Consumer organizations are ..... for consumer rights. A) Adversaries. B) Advocates. C) All the above. D) None of the above. Show Answer Correct Answer: B) Advocates. 51. This is done through suggestions and warnings stated which will help prevent damages that may affect consumers' life, health, or wealth. A) The right to enjoy freedom in the choice of goods or services. B) The right to expect safety in the use of goods or services. C) The right to receive a fair contract. D) The right to have the injury considered and compensated. Show Answer Correct Answer: B) The right to expect safety in the use of goods or services. 52. Which authority can entertain appeals against the orders of any District Forum within the State? A) Supreme Court. B) State Commission. C) High Court. D) National Commission. Show Answer Correct Answer: B) State Commission. 53. The staff in the shop are very polite, they are ..... A) Faithful. B) Courteous. C) Efficient. D) Uncaring. Show Answer Correct Answer: B) Courteous. 54. What would happen if financial institutions were not regulated? A) They would give a lot of money away. B) They may take advantage of consumers. C) They'd always be having bank holidays. D) They wouldn't exploit the vulnerable. Show Answer Correct Answer: B) They may take advantage of consumers. 55. National commission has ..... members A) 2. B) 5. C) 4. D) None of the above. Show Answer Correct Answer: C) 4. 56. How should contracts be concluded to meet the requirements of fairness according to Dexia Nederland? A) Secretly. B) Transparently and with specified terms. C) With hidden clauses. D) Verbally only. Show Answer Correct Answer: B) Transparently and with specified terms. 57. What is After-sales service? A) Enticing customers to purchase more products from your business. B) Getting feedback on products/services. C) Meeting of customer's needs after they have purchased a product. D) Up selling products. Show Answer Correct Answer: C) Meeting of customer's needs after they have purchased a product. 58. What does the law say about consumer rights when paying for services? A) Must be fit for purpose, of satisfactory quality and match the description. B) Work must be carried out with reasonable care and skill, at a reasonable cost and within a reasonable time. C) All the above. D) None of the above. Show Answer Correct Answer: B) Work must be carried out with reasonable care and skill, at a reasonable cost and within a reasonable time. 59. In which year consumer Protection Act was accepted? A) 1960. B) 1986. C) 1978. D) 1996. Show Answer Correct Answer: B) 1986. 60. An item priced below its cost to attract you to a store is called a? A) Loss leader. B) Bait and switch. C) Trading up. D) Fraud. Show Answer Correct Answer: A) Loss leader. ← 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 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