This quiz works best with JavaScript enabled. Home > Cbse > Class 12 > Commerce > Business Studies > Class 12 Business Studies Chapter 12 Consumer Protection – Quiz 8 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 12 Consumer Protection Quiz 8 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The right of partition is one of the rights included in ownership in severalty. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 2. Which of the following is NOT an example of a government consumer organization? A) Food & Drug Administration. B) National Highway Traffic Safety Administration. C) Federal Trade Commission. D) Better Business Bureau. Show Answer Correct Answer: D) Better Business Bureau. 3. If an authority searches a location and seizes the documents without any reasonable grounds just to show the power. what punishment he is entitled to? A) Imprisonment of 1 year and a fine of 10000 or both. B) Imprisonment of 2 year and a fine of 10000 or both. C) Imprisonment of 1 year and a fine of 20000 or both. D) Imprisonment of 5 year and a fine of 20000 or both. Show Answer Correct Answer: A) Imprisonment of 1 year and a fine of 10000 or both. 4. The 2019 Act introduced product liability as a new concept. A) False. B) True. C) All the above. D) None of the above. Show Answer Correct Answer: B) True. 5. Consumer has the right to file a complaint in case of disatisfaction with goods or services in grievance cell. Which consumer right is it? A) Right to seek redressal. B) Right to be heard. C) Right to be informed. D) None of these. Show Answer Correct Answer: B) Right to be heard. 6. Consumer right to safety is A) To be protected from animals. B) To give protection to others when necessary. C) To be protected against the marketing of goods and services, which are hazardous to life and property. D) To accept ill-treatment merchants. Show Answer Correct Answer: C) To be protected against the marketing of goods and services, which are hazardous to life and property. 7. Which of the following was a major goal of the Dodd-Frank Act? A) To regulate advertising in financial services. B) To increase transparency and oversight in the financial sector. C) To set interest rates for consumer loans. D) To ban risky investments entirely. Show Answer Correct Answer: B) To increase transparency and oversight in the financial sector. 8. Bagaimana OJK mendukung kelompok konsumen yang rentan? A) OJK menghilangkan semua lembaga keuangan untuk perlindungan konsumen yang lebih baik. B) OJK hanya fokus pada kelompok berpenghasilan tinggi. C) OJK memberikan bantuan keuangan langsung kepada semua konsumen. D) OJK mendukung kelompok konsumen yang rentan melalui regulasi, program literasi keuangan, dan pemantauan lembaga keuangan. Show Answer Correct Answer: D) OJK mendukung kelompok konsumen yang rentan melalui regulasi, program literasi keuangan, dan pemantauan lembaga keuangan. 9. What is identity theft? A) The use of another person's personal information for fraud. B) Losing a credit card or ID. C) Filing a tax return late. D) Receiving multiple spam emails. Show Answer Correct Answer: A) The use of another person's personal information for fraud. 10. What type of complaints does the Financial Ombudsman Service (FOS) handle? A) Complaints about public services. B) Complaints about financial products and services. C) Complaints about healthcare services. D) Complaints about educational institutions. Show Answer Correct Answer: B) Complaints about financial products and services. 11. Which of the following statement is not true with regard to the State Commission: A) It consists of President and two other members, one of whom should be a woman. B) All members are appointed by stat government. C) It entertains the complaints of product value between Rs. 20 lakhs to Rs. 1 crore. D) Appeals against the orders of state commission can be made in District Forum. Show Answer Correct Answer: D) Appeals against the orders of state commission can be made in District Forum. 12. What is the primary purpose of the Central Consumer Protection Authority (CCPA)? A) To oversee e-commerce transactions. B) To regulate consumer rights and unfair trade practices. C) To provide legal representation for consumers. D) To manage consumer complaints exclusively. Show Answer Correct Answer: B) To regulate consumer rights and unfair trade practices. 13. National commition If the value of goods, services and claim is ..... A) Under 20 lakh. B) 20 lakh to 1 cr. C) 1 cr. D) None of the above. Show Answer Correct Answer: C) 1 cr. 14. The Consumer Protection Act provides relief to customers such as replacement of product, removal of defect in the product, compensation for any loss or injury suffered by the consumer. Which consumer right has been highlighted in this statement? A) Right to safety. B) Right to be informed. C) Right to seek redressal. D) Right to consumer education. Show Answer Correct Answer: C) Right to seek redressal. 15. All receipts no matter if you use a card or cash should be shredded A) False. B) True. C) All the above. D) None of the above. Show Answer Correct Answer: A) False. 16. The members of the District Forum are appointed by: A) Central Government. B) State Government. C) Local authority. D) None of the above. Show Answer Correct Answer: B) State Government. 17. Which of the following is NOT a consumer right under the Consumer Rights Act 2015? A) The right to a repair or replacement for faulty goods. B) The right to a refund within 30 days for faulty goods. C) The right to paid sick leave. D) The right to services performed with reasonable care and skill. Show Answer Correct Answer: C) The right to paid sick leave. 18. Which situation best reflects a consumer being unhappy with something they bought, consistent with the worksheet's discussion of faulty goods and poor service? A) A new phone stops working within a week and the seller is unhelpful. B) A kitchen appliance performs exactly as advertised for several years. C) Customer service promptly solves a minor issue and offers a fair refund. D) A buyer pays the listed price and is fully satisfied with the product. Show Answer Correct Answer: A) A new phone stops working within a week and the seller is unhelpful. 19. What is the term for protecting consumers from the shenanigans of producers and sellers? A) Consumer Education. B) Consumer Welfare. C) Consumers Protection Act. D) Consumer Protection. Show Answer Correct Answer: D) Consumer Protection. 20. Supervision, as one of the FCA's main areas of focus, involves ensuring procedures and practices are in the interest of the ..... A) Shareholder. B) Customer. C) Regulator. D) Employee. Show Answer Correct Answer: B) Customer. 21. What does the Fair Packaging and Labeling Act ensure? A) Lower prices on packages. B) Clear and honest product labeling. C) Fun branding. D) Large font sizes. Show Answer Correct Answer: B) Clear and honest product labeling. 22. What is the significance of consumer education as per the Act? A) Consumer education is only necessary for businesses. B) Consumer education promotes higher prices for goods. C) Consumer education is irrelevant to product quality. D) Consumer education is essential for informed decision-making and protection against unfair trade practices. Show Answer Correct Answer: D) Consumer education is essential for informed decision-making and protection against unfair trade practices. 23. Which year was the Consumer Protection Act passed by the Parliament? A) 1956. B) 1987. C) 1986. D) 1930. Show Answer Correct Answer: C) 1986. 24. You discover a hidden fee added to your bill after making a service agreement. This might be a violation of the Consumer Protection Law's right to: A) Choose a different service provider. B) Fair pricing. C) Safety. D) Be heard. Show Answer Correct Answer: B) Fair pricing. 25. What can happen if consumers are not protected from counterfeit goods? A) Consumers will gain more trust in online shopping. B) Counterfeit goods will improve brand reputation. C) Consumers may face financial loss, health risks, and reduced trust in brands. D) Consumers will always receive high-quality products. Show Answer Correct Answer: C) Consumers may face financial loss, health risks, and reduced trust in brands. 26. Can complaints be filed electronically under the 2019 Act? A) Only in High Court. B) Yes, through E-Daakhil portal. C) No. D) Only in person. Show Answer Correct Answer: B) Yes, through E-Daakhil portal. 27. Which agency regulates the stock market to prevent fraud and protect investors? A) Securities and Exchange Commission (SEC). B) Federal Deposit Insurance Corporation (FDIC). C) Better Business Bureau (BBB). D) Federal Trade Commission (FTC). Show Answer Correct Answer: A) Securities and Exchange Commission (SEC). 28. Amy wrote a research paper with an accompanying presentation for a class. Alyssa used the same research paper, but a different presentation. Alyssa is not in violation of the Copyright Act. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 29. Which levels of government enforce are able to provide guidance and information about consumer rights? A) Local and State. B) Local and Federal. C) Federal and State. D) State only. Show Answer Correct Answer: C) Federal and State. 30. It is the responsibility of a consumer that she must obtain ..... As a proof for the purchase of goods? A) Cash receipts. B) Warranty card. C) Invoice. D) None of the above. Show Answer Correct Answer: C) Invoice. 31. What does the Consumer Protection (Fair Trading) Act (CPFTA) provide for consumers? A) More aggressive sales tactics. B) Increased prices for goods. C) No rights for consumers. D) Recourse against unfair practices. Show Answer Correct Answer: D) Recourse against unfair practices. 32. Which of the following might a homeowner's insurance company be unwilling to cover? A) Theft. B) Person getting injured on your property. C) Natural Disaster. D) None of the above. Show Answer Correct Answer: C) Natural Disaster. 33. Which of these students is making a risky decision that could lead to identity theft? A) Jenna: "I shred all my old bank statements before throwing them away.". B) Marcus: "I never share my passwords with anyone, even close friends.". C) Olivia: "I use the same password for my email and social media accounts because it's easier to remember.". D) Sam: "I enable alerts for suspicious activity on my credit card.". Show Answer Correct Answer: C) Olivia: "I use the same password for my email and social media accounts because it's easier to remember.". 34. Which one of these is a fundamental right of consumers under the Consumer Protection Act 2019? A) The right to be informed. B) The right to exclusive discounts for all consumers. C) The right to unlimited returns without conditions. D) The right to free products and services. Show Answer Correct Answer: A) The right to be informed. 35. Who is considered a consumer under the Consumer Protection Act, 2019? A) Only business owners. B) A person who buys goods or avails services. C) Anyone who sells goods. D) Government officials. Show Answer Correct Answer: B) A person who buys goods or avails services. 36. ..... is the standardized mark on jewellery? A) ISI Mark. B) FPO. C) BIS Hallmark. D) None of the above. Show Answer Correct Answer: C) BIS Hallmark. 37. Which government body is primarily responsible for enforcing competition policy in the UK? A) The Environment Agency. B) The Competition and Markets Authority (CMA). C) The Health and Safety Executive (HSE). D) Citizens Advice. Show Answer Correct Answer: B) The Competition and Markets Authority (CMA). 38. Apa salah satu karakteristik investasi ilegal yang disebutkan? A) Keuntungan yang wajar dari waktu ke waktu. B) Investasi berisiko rendah. C) Operasi yang transparan. D) Status legal tidak jelas. Show Answer Correct Answer: D) Status legal tidak jelas. 39. A one time fee to cover damages beyond normal wear and tear is a A) Amenities. B) Rental paymnent. C) Security Deposit. D) Eviction. Show Answer Correct Answer: C) Security Deposit. 40. The Fair Credit Reporting Act allows consumers to see and fix their credit reports. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 41. If you modify a product or use it in someway that isn't foreseeable, you will not win a strict liability lawsuit. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 42. District Consumer Dispute redressal forum is established by ..... A) District Administartion. B) Central Government. C) Supreme Court. D) State Government. Show Answer Correct Answer: D) State Government. 43. What is the principle of fair treatment in relation to Financial Consumers? A) No discrimination based on various factors. B) Discrimination is allowed. C) Only certain clients can be treated fairly. D) None of the above. Show Answer Correct Answer: A) No discrimination based on various factors. 44. ..... is set up by the Central Government. A) State Commissions. B) National Commission. C) District Forum. D) None of these. Show Answer Correct Answer: B) National Commission. 45. What is the primary objective of the Consumer Protection Act 2019? A) To promote unfair trade practices. B) To protect and promote the interests of consumers. C) To favor businesses over consumers. D) To limit consumer rights. Show Answer Correct Answer: B) To protect and promote the interests of consumers. 46. When the value of the goods and services, along with compensation claimed is 1 crore rupees, then as per the Consumer Protection Act, 2019 read with Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021, the Complaint can be filed in ..... A) State Commission. B) District Commission. C) National Commission. D) Supreme Court. Show Answer Correct Answer: A) State Commission. 47. An appeal against the order of the National Commission to Supreme Court can be filed within- A) 45 days. B) 15 days. C) 60 days. D) 30 days. Show Answer Correct Answer: A) 45 days. 48. Which of the following is importance of consumer protection in the view of business: A) Moral justification. B) Consumer ignorance. C) Organised consumers. D) Unorganised consumers. Show Answer Correct Answer: A) Moral justification. 49. It emphasizes financial consumer protection in its revised regulation. A) Department of Education. B) Department of Agriculture. C) Bangko Sentral ng Pilipinas. D) Securities and Exchange Commission. Show Answer Correct Answer: C) Bangko Sentral ng Pilipinas. 50. The ..... oversees the safety of products such as toys, clothing, electronics, furniture, etc. A) Federal Reserve Act. B) Consumer Product Safety Commission. C) Federal Trade Commission. D) Lemon Laws League. Show Answer Correct Answer: B) Consumer Product Safety Commission. 51. ..... is the federal law that regulates credit reporting agencies and compels them to insure the information they gather and distribute is a fair and accurate summary of a consumer's credit history. A) Fair Credit Reporting Act. B) Fair Debt Collections Protection Act. C) Telephone Consumer Reporting Act. D) Truth in Lending Act. E) Fair Lending Act. Show Answer Correct Answer: A) Fair Credit Reporting Act. 52. What is the primary purpose of consumer protection? A) To increase prices for consumers. B) To limit consumer choices in the market. C) To promote competition among businesses. D) To safeguard buyers from unfair practices and ensure their rights. Show Answer Correct Answer: D) To safeguard buyers from unfair practices and ensure their rights. 53. What is the purpose of consumer protection laws? A) To increase business profits. B) To protect consumers from unfair or deceptive business practices. C) To encourage unfair business practices. D) To limit consumer choices. Show Answer Correct Answer: B) To protect consumers from unfair or deceptive business practices. 54. Patents are good for ten years and are renewable. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 55. Which item is specifically a notice that warns creditors of potential identity theft? A) Credit Freeze. B) Scam. C) Red Flag. D) Fraud Alert. Show Answer Correct Answer: D) Fraud Alert. 56. The Financial Conduct Authority (FCA) is expected to be: A) More proactive than the Financial Services Authority (FSA). B) Less proactive than the Financial Services Authority (FSA). C) The same in terms of proactivity when compared with the Financial Services Authority (FSA). D) None of the above. Show Answer Correct Answer: A) More proactive than the Financial Services Authority (FSA). 57. A consumer has right to file a complaint and to be heard in case of dissatisfaction with goods or services according to the ..... A) Right to be assured. B) Right to seek redressal. C) Right to be heard. D) None of the above. Show Answer Correct Answer: B) Right to seek redressal. 58. It means a person who buys goods or receives services from a business operator, or a person who is persuaded by a business operator to buy goods or services. A) Seller. B) Producer. C) Consumer. D) Entrepreneur. Show Answer Correct Answer: C) Consumer. 59. What must consumers show to hold a seller liable for a defective product? A) They signed a warranty. B) They were injured because of the faulty product. C) They altered the product. D) They purchased the product from a dealer. Show Answer Correct Answer: B) They were injured because of the faulty product. 60. Which of the following is not a good strategy to protect yourself from identity theft? A) Using public WiFi to access your online banking. B) Reviewing your credit report at least once a year. C) Creating strong passwords and updating them frequently. D) Not carrying your social security card with you. Show Answer Correct Answer: A) Using public WiFi to access your online banking. ← 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 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books