This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 12 Consumer Protection – Quiz 27 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 12 Consumer Protection Quiz 27 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is the definition of a complainant under the Consumer Protection Act? A) A consumer. B) Any voluntary consumer association. C) The Central Government or State Government. D) All the Above. Show Answer Correct Answer: D) All the Above. 2. A written guarantee from the manufacturer or distributor that states the condition under which the product can be returned, replaced or repaired? A) Pledge. B) Warranty. C) Manufacturer's Promise. D) Rebate. Show Answer Correct Answer: B) Warranty. 3. When does referral selling become illegal? A) When the friend of the customer does not buy from the business. B) When the promise of a 'special deal' is not upheld. C) When the customer initially engages with the business. D) When the business denies the customer an exchange. Show Answer Correct Answer: B) When the promise of a 'special deal' is not upheld. 4. Apa saja contoh produk keuangan yang diatur oleh OJK? A) Perdagangan valuta asing. B) Produk perbankan, produk pasar modal, produk asuransi, dana pensiun. C) Pertukaran cryptocurrency. D) Investasi real estate. Show Answer Correct Answer: B) Produk perbankan, produk pasar modal, produk asuransi, dana pensiun. 5. Select all that apply:Which of these are considered unfair and deceptive practices? A) False Advertising. B) Bait and switch. C) The Cooling-off Rule. D) Work-from-home Schemes. E) All of the Above. Show Answer Correct Answer: E) All of the Above. 6. ..... is a federal law that limits the behavior and actions of third-party debt collectors who are attempting to collect debts on behalf of another person or entity A) Fair Debt Collections Protection Act. B) Telephone Consumer Reporting Act. C) Fair Lending Act. D) Telephone Consumer Reporting Act. E) Fair Credit Reporting Act. Show Answer Correct Answer: A) Fair Debt Collections Protection Act. 7. Why is consumer ignorance a concern for consumer protection? A) Consumer ignorance ensures higher prices for goods. B) Consumer ignorance leads to better product quality. C) Consumer ignorance is beneficial for market competition. D) Consumer ignorance is a concern for consumer protection because it makes consumers vulnerable to exploitation and poor purchasing decisions. Show Answer Correct Answer: D) Consumer ignorance is a concern for consumer protection because it makes consumers vulnerable to exploitation and poor purchasing decisions. 8. Which website can consumers visit for advice about consumer problems? A) Www.consumer-rights.org.uk. B) Www.business-ethics.com. C) Www.marketregulation.org. D) Www.productreviews.com. Show Answer Correct Answer: A) Www.consumer-rights.org.uk. 9. Why is investment in education and skill development significant for future earnings? A) It guarantees immediate high-paying jobs. B) It increases the likelihood of higher earnings over time. C) It is only important for certain professions. D) It has no impact on career advancement. Show Answer Correct Answer: B) It increases the likelihood of higher earnings over time. 10. What does the Federal Trade Commission (FTC) oversee? A) Credit score calculations. B) Protection against unfair business practices. C) Setting minimum wages for employees. D) Approving all business licenses. Show Answer Correct Answer: B) Protection against unfair business practices. 11. Suresh was ordered by the State Commission to pay damages to the tune of 1.3 Crore rupees to the opposite party but Suresh failed to do so. The State Commission convicted him with imprisonment of 2 years. Suresh aggrieved by this order wishes to file an appeal. Guide Suresh as to the forum before which he can file the appeal. A) High Court. B) Supreme Court. C) National Commission. D) Central Authority. Show Answer Correct Answer: C) National Commission. 12. You get a message from a friend who's in trouble in another country. She needs you to wire her money to help. What do you do? A) You reply to that message to see how you can help. B) You get in touch with your friend in a different way to see what's up. C) Wire the money immediately. D) None of the above. Show Answer Correct Answer: B) You get in touch with your friend in a different way to see what's up. 13. Bagaimana OJK mempromosikan perlakuan yang adil terhadap konsumen? A) OJK hanya fokus pada keuntungan perusahaan tanpa masukan dari konsumen. B) OJK mempromosikan perlakuan yang adil terhadap konsumen melalui regulasi, perlindungan hak konsumen, dan pendidikan keuangan. C) OJK memastikan perlakuan yang adil dengan meningkatkan biaya untuk layanan. D) OJK mempromosikan hak konsumen melalui kampanye iklan. Show Answer Correct Answer: B) OJK mempromosikan perlakuan yang adil terhadap konsumen melalui regulasi, perlindungan hak konsumen, dan pendidikan keuangan. 14. How do government regulations contribute to consumer protection? A) Government regulations eliminate all risks associated with products. B) Government regulations contribute to consumer protection by ensuring product safety, quality standards, and fair business practices. C) Government regulations limit consumer choices and options. D) Government regulations promote higher prices for all products. Show Answer Correct Answer: B) Government regulations contribute to consumer protection by ensuring product safety, quality standards, and fair business practices. 15. What is the primary rationale for consumer protection? A) Economic efficiency. B) Justice and protection of the weaker party. C) Behavioral insights. D) Market competition. Show Answer Correct Answer: B) Justice and protection of the weaker party. 16. What purpose does the consumer Financial Protect Bureau serve? A) To monitor potential risks in the financial sector. B) To enforce the rules of financial institutions. C) To supervise banks' anti-money laundering efforts. D) To provide oversight of consumer financial activities. Show Answer Correct Answer: D) To provide oversight of consumer financial activities. 17. What is the main goal of the Dodd-Frank Act? A) To regulate environmental policies. B) To reform financial regulation and protect consumers. C) To promote agricultural development. D) To manage public health systems. Show Answer Correct Answer: B) To reform financial regulation and protect consumers. 18. According to Consumer Protection Act the number of Basic right- A) 5. B) 6. C) 7. D) 9. Show Answer Correct Answer: B) 6. 19. The Consumer Protection Act, 2019 replaced which previous law? A) Consumer Protection Act, 1986. B) Consumer Rights Act, 2000. C) Consumer Welfare Act, 1995. D) Consumer Trade Act, 2010. Show Answer Correct Answer: A) Consumer Protection Act, 1986. 20. Let the seller beware A) Caveat emptor. B) Caveat venditor. C) Merchantability. D) Puffing. Show Answer Correct Answer: B) Caveat venditor. 21. What is an example of predatory lending? A) Offering payday loans with extremely high interest rates. B) Approving loans for individuals with excellent credit scores. C) Providing no-interest financing for large purchases. D) Offering loans with reasonable repayment terms. Show Answer Correct Answer: A) Offering payday loans with extremely high interest rates. 22. How many members can be there in district forum? Except president. A) 2. B) 3. C) 4. D) 5. Show Answer Correct Answer: A) 2. 23. What are the steps a consumer can take to file a complaint against a company for unfair business practices? A) Ignore the issue and move on. B) Contact customer service, consumer protection agencies, or seek legal assistance. C) Post a negative review on social media. D) Write a letter to the company's CEO. Show Answer Correct Answer: B) Contact customer service, consumer protection agencies, or seek legal assistance. 24. (iii) The National Commission has the jurisdiction of dealing with complaints involving value of goods above ..... A) Rs. 20 lakhs,. B) Rs. 50 lakhs,. C) Rs. One crore. D) None of the above. Show Answer Correct Answer: C) Rs. One crore. 25. What are the key features of the Consumer Dispute Redressal Commission? A) Key features include addressing consumer grievances, handling complaints on unfair trade practices, and operating at district, state, and national levels. B) Provides legal representation for consumers. C) Only handles complaints related to product defects. D) Operates solely at the national level. Show Answer Correct Answer: A) Key features include addressing consumer grievances, handling complaints on unfair trade practices, and operating at district, state, and national levels. ← 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