This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 12 Consumer Protection – Quiz 20 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 12 Consumer Protection Quiz 20 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. 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. 2. 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 limit consumer choices. D) To encourage unfair business practices. Show Answer Correct Answer: B) To protect consumers from unfair or deceptive business practices. 3. 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. 4. Which item is specifically a notice that warns creditors of potential identity theft? A) Fraud Alert. B) Red Flag. C) Credit Freeze. D) Scam. Show Answer Correct Answer: A) Fraud Alert. 5. 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). 6. 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. 7. 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) Entrepreneur. B) Seller. C) Consumer. D) Producer. Show Answer Correct Answer: C) Consumer. 8. What must consumers show to hold a seller liable for a defective product? A) They were injured because of the faulty product. B) They signed a warranty. C) They purchased the product from a dealer. D) They altered the product. Show Answer Correct Answer: A) They were injured because of the faulty product. 9. 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. 10. If goods or services are not fit for purpose, of satisfactory quality or as described, what could a customer be entitled to? A) A refund only. B) A repair, refund or replacement. C) Nothing, its not the businesses fault. D) None of the above. Show Answer Correct Answer: B) A repair, refund or replacement. 11. What is the objective of CPA 2019? A) Encourage industrialization. B) Promote exports. C) Protect consumer interests. D) Support real estate sector. Show Answer Correct Answer: C) Protect consumer interests. 12. Unwritten guarantee that covers certain aspects of a product or its uses? A) Express Warranty. B) Implied Warranty. C) All the above. D) None of the above. Show Answer Correct Answer: B) Implied Warranty. 13. How many Consumer Bill of Rights are there? A) 18. B) 14. C) 4. D) 8. Show Answer Correct Answer: D) 8. 14. A legal process to get out of debt when you can no longer make all your required payment. A) Liquidation. B) Bankruptcy. C) Mean's Test. D) Credit Counseling. Show Answer Correct Answer: B) Bankruptcy. 15. Which year was the Consumer Protection Act enacted? A) 1986. B) 1995. C) 2019. D) 2021. Show Answer Correct Answer: C) 2019. 16. Deceitful conduct for personal gain. A) Product safety. B) Fraud. C) Product failure. D) Service contract. Show Answer Correct Answer: B) Fraud. 17. Your friend pulls out a ladder and reads a warning sticker on not climbing above a certain rung. They say, "Oh, that's nice." You say, "what?" A) That's good business. B) That's not required but very nice. C) That's product liability; actually strict liability law. D) That's required under OSHA. Show Answer Correct Answer: C) That's product liability; actually strict liability law. 18. How can consumers seek redressal for unfair trade practices? A) Consumers can only seek help from friends and family. B) Consumers can file complaints with consumer protection authorities, approach consumer commissions. C) Consumers should file a case in the court with the help of a Advocate. D) Consumers must file a complaint in the police station. Show Answer Correct Answer: B) Consumers can file complaints with consumer protection authorities, approach consumer commissions. 19. Which agency oversees consumer protection at the federal level in the U.S.? A) Federal Reserve. B) Consumer Financial Protection Bureau. C) Federal Trade Commission. D) Securities and Exchange Commission. Show Answer Correct Answer: C) Federal Trade Commission. 20. Sumit filed a case against Domestic Cooling Ltd in the District Forum but he was not satisfied with the order of the 'District Forum'. Where can he appeal further against the decision of 'District Forum'? A) State Commission. B) National Commission. C) Consumer Committee. D) None of the above. Show Answer Correct Answer: A) State Commission. 21. What is the process for filing a complaint under the Consumer Protection Act 2019? A) Visit the nearest police station to file a complaint. B) Call a toll-free number to report the issue. C) Send an email to the consumer protection agency with all details. D) File a written complaint with the appropriate consumer forum, including necessary details and evidence. Show Answer Correct Answer: D) File a written complaint with the appropriate consumer forum, including necessary details and evidence. 22. True or False. The Financial Ombudsman Service is accessible to anyone who needs it? A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 23. Usually it's easier to ..... an existing customer than to gain a new one. A) Stick. B) Keep. C) Hold. D) Leave. Show Answer Correct Answer: B) Keep. 24. Right to ..... is a right to be protected against products which are hazardous to life or health. A) Information. B) )Safety. C) Seek Redressal. D) Consumer Education. Show Answer Correct Answer: B) )Safety. 25. What does the ACCC stand for? A) Australian Consumer Competition Commission. B) Australian Consumer Credit Card. C) Australian Competition and Consumer Commission. D) Australia's Commission for Consumer Competition. Show Answer Correct Answer: C) Australian Competition and Consumer Commission. ← PreviousNext →Related 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 8Class 12 Business Studies Chapter 12 Consumer Protection Quiz 9Class 12 Business Studies Chapter 12 Consumer Protection Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books