This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 12 Consumer Protection – Quiz 28 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 12 Consumer Protection Quiz 28 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The Consumer Protection Act, to protect and promote the interests of consumers came into effect from: A) 1986. B) 1975. C) 1991. D) 1998. Show Answer Correct Answer: A) 1986. 2. What is it when you go bankrupt? A) You steal all the money from the bank. B) You are in financial ruin. C) All the above. D) None of the above. Show Answer Correct Answer: B) You are in financial ruin. 3. What is the time limit for filing a claim in the Small Claims Tribunals? A) Within one year from the date of action. B) Within six months. C) Within two years. D) No time limit. Show Answer Correct Answer: A) Within one year from the date of action. 4. In Normal Situation Maximum Time Limit for Disposal of complaint is 3 months A) 2months. B) 1 months. C) 4months. D) 3 months. Show Answer Correct Answer: D) 3 months. 5. Which of the following statements about misleading advertisements is true? A) They are acceptable if they do not affect sales. B) They are allowed if the product is of high quality. C) They are prohibited under the Consumer Act. D) They can be justified if the advertisement is entertaining. Show Answer Correct Answer: C) They are prohibited under the Consumer Act. 6. The Consume Protection Act has launched the campaign called ..... A) Satyamev Jayate. B) Jago Grahak Jago. C) All the above. D) None of the above. Show Answer Correct Answer: B) Jago Grahak Jago. 7. What is prohibited under the Consumer Protection Act 1987? A) Selling products without a warranty. B) Marketing products internationally. C) Excluding liability for damage caused by defective products. D) Using trademarks on products. Show Answer Correct Answer: C) Excluding liability for damage caused by defective products. 8. Analyse the impact of these financial authorities (FCA, FOS and FSCS) on individuals. A) They protect individuals by regulating financial services, resolving disputes, and compensating for financial losses. B) They only provide loans to individuals in need. C) They focus solely on business regulations, not individuals. D) They offer investment advice to individuals without any regulatory role. Show Answer Correct Answer: A) They protect individuals by regulating financial services, resolving disputes, and compensating for financial losses. 9. An attempt by a third party to resolve a conflict between a customer and a business through discussion and negotiation (not through the court system)? A) Fraud. B) Arbitration. C) Mediation. D) Conversation. Show Answer Correct Answer: C) Mediation. 10. Consumer Protection refers to: A) A bank's internal policy only. B) Laws and organizations designed to prevent unfair business practices. C) A personal credit monitoring service. D) An individual's right to sue. Show Answer Correct Answer: B) Laws and organizations designed to prevent unfair business practices. 11. Who is the chief commissioner of Central Consumer Protection Authority? A) Anupam Mishra. B) Pramod Tiwari. C) Vineet Mathur. D) Nidhi Khare. Show Answer Correct Answer: D) Nidhi Khare. 12. Consumers lose the right to reject goods if they fail to act within a reasonable time. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 13. Commission will be posted in? A) Profit and loss Account. B) Trading account. C) Balance sheet. D) Trial Balance. Show Answer Correct Answer: A) Profit and loss Account. 14. What does BBB stand for? A) The Boss' Bureau on Business. B) The Business' Bureau of Business. C) The Better Business Bureau. D) None of the above. Show Answer Correct Answer: C) The Better Business Bureau. 15. True or False. The Financial Services Compensation Scheme protects people in case the financial institution goes bankrupt? A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 16. I avoid paying a PMI if I make a down payment of ..... or more. A) 0%. B) 5%. C) 10%. D) 20%. Show Answer Correct Answer: D) 20%. 17. Which government body is responsible for the enforcement and implementation of the Consumer Protection Act 1986 in India? A) Ministry of Consumer Affairs, Food and Public Distribution. B) Ministry of Finance. C) Ministry of Home Affairs. D) Ministry of Health and Family Welfare. Show Answer Correct Answer: A) Ministry of Consumer Affairs, Food and Public Distribution. 18. A jeweler, recognized as an expert, tells you a diamond is flawless. How is this statement treated in terms of consumer protection? A) It can become part of a warranty. B) It creates an implied warranty of fitness. C) It is puffing and not factual. D) It is a disclaimer excluding liability. Show Answer Correct Answer: A) It can become part of a warranty. 19. What is one challenge consumers face when trying to go green? A) Lack of awareness about environmental problems. B) Limited availability of eco-friendly products. C) High cost of sustainable options. D) Lack of international cooperation. Show Answer Correct Answer: C) High cost of sustainable options. 20. The responsibility to be aware of the impact of our consumption on other citizens, especially the poor, exploited, disadvantaged or powerless groups, whether in the local, national or international community is a responsibility of the consumer classified as? A) Environmental awareness. B) Social responsibility. C) Economic awareness. D) Cultural responsibility. Show Answer Correct Answer: B) Social responsibility. 21. If the value of goods or services is more than 20 lakhs but less than one crore, then consumer can file case in: A) District Forum. B) State Commission. C) National Commission. D) All of the above. Show Answer Correct Answer: B) State Commission. 22. Who is considered a consumer according to the Consumer Protection Act 2019? A) Aisha, a person who receives goods/services for free or as gifts. B) Ishika, a person who hires services for a consideration paid or promised. C) Prisha, a person who buys goods for resale. D) A person who uses goods without the approval of the buyer. Show Answer Correct Answer: B) Ishika, a person who hires services for a consideration paid or promised. 23. Goods acquired for commercial use are protected under the CPA. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 24. How has the internet of things impacted consumer convenience? A) It has made it easier to go green. B) It has increased the risk of software glitches. C) It has improved product safety. D) It has provided greater convenience. Show Answer Correct Answer: D) It has provided greater convenience. 25. Which of the following is NOT a right of the consumer? A) The right to be heard. B) To right to negotiate the price. C) The right to information. D) The right to redress. Show Answer Correct Answer: B) To right to negotiate the price. ← 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