This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 12 Consumer Protection – Quiz 30 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 12 Consumer Protection Quiz 30 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The Consumer Disputes Redressal Commissions handle what kind of cases? A) Broad regulatory issues. B) Inter se consumer disputes. C) Corporate fraud. D) Labor law violations. Show Answer Correct Answer: B) Inter se consumer disputes. 2. What is the primary aim of consumerism? A) To reduce the number of consumers. B) To eliminate competition. C) To maximize profits for businesses. D) To make consumers aware of their rights. Show Answer Correct Answer: D) To make consumers aware of their rights. 3. Which of the following is NOT true about a sales contracts? A) A sales contract may be in writing or by word-of-mouth. B) A sales contract may be implied from the conduct of the parties. C) International sales contracts are governed by the Uniform Commercial Code (UCC). D) It is an agreement between a buyer and seller covering the sale and delivery of personal properties. Show Answer Correct Answer: C) International sales contracts are governed by the Uniform Commercial Code (UCC). 4. Fill in the blank:CCPC stands for ..... and consumer protection commission A) Customer. B) Control. C) Competition. D) Choice. Show Answer Correct Answer: C) Competition. 5. What is the purpose of the stress test component of the Dodd-Frank Wall Street Reform and Consumer Protection Act? A) To identify and assess potential market-exposure concentrations. B) To evaluate banks' risk management ability under various market conditions. C) To discourage lenders from issuing predatory home loans. D) To reduce the need for banks to conduct baseline capital assessments. Show Answer Correct Answer: B) To evaluate banks' risk management ability under various market conditions. 6. What is the CCPA's stance on public interest in consumer rights? A) It acts when consumer rights as a class are affected. B) It prioritizes individual complaints. C) It focuses only on high-value disputes. D) It does not consider public interest. Show Answer Correct Answer: A) It acts when consumer rights as a class are affected. 7. Which of the following is NOT a recommended way to protect your online accounts? A) Keeping your passwords private. B) Changing passwords regularly. C) Enabling two-factor authentication. D) Using the same password for all accounts. Show Answer Correct Answer: D) Using the same password for all accounts. 8. A class action lawsuit can help a person who is harmed because one attorney is hired to represent many. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 9. Which level of government regulates public utilities, insurance rates, and grants licenses for certain professions? A) Local. B) Municipal. C) State. D) Federal. Show Answer Correct Answer: C) State. 10. What is the limit of amount of goods, services and compensation upto which cases can be filed with National Commission? A) More than Rs 1 Crore. B) More than Rs. 2 crore. C) More than Rs. 10 crore. D) None of the above. Show Answer Correct Answer: C) More than Rs. 10 crore. 11. Shagun purchased a car for 3 crore rupees from an automobile company and found that its engine was defective. After many complaints with the company that went unheard, she filed a case. She was not satisfied with the decision and hence went on to file an appeal. Suggest Shagun where to file the appeal A) District commission. B) State commission. C) National commission. D) Supreme court. Show Answer Correct Answer: D) Supreme court. 12. What is the role of the committee on consumer policy in the future? A) To develop new business models. B) To enforce consumer protection laws. C) To act as an international forum for consumer policy. D) To educate consumers about sustainability. Show Answer Correct Answer: C) To act as an international forum for consumer policy. 13. Aashi saw an advertisement for a new smartphone that claimed it could take photos in complete darkness. However, after purchasing it, she found that the phone did not perform as advertised. She wants to know what the maximum penalty for misleading advertisements under the CCPA is. A) Rs. 1, 00, 000. B) Rs. 5, 00, 000. C) Rs. 10, 00, 000. D) Rs. 50, 00, 000. Show Answer Correct Answer: C) Rs. 10, 00, 000. 14. The Financial Services Compensation Scheme (FSCS): A) Sorts out complaints between customers and product providers. B) Pays money to savers if their provider becomes bankrupt. C) Helps people who have suffered a loss because they failed to take out insurance. D) None of the above. Show Answer Correct Answer: B) Pays money to savers if their provider becomes bankrupt. 15. A consumer means any person who buys goods for A) Resale. B) Commercial purpose. C) Consumption. D) Giving gifts. Show Answer Correct Answer: C) Consumption. 16. The consumer has the right to get compensation against unfair trade practices under ..... A) Right to choose. B) Right to seek redressal. C) Right to safety. D) None of the above. Show Answer Correct Answer: B) Right to seek redressal. 17. A group of people with the same or similar injuries caused by the same product or action sue the defendant as a group. A) Class Action Lawsuit. B) Arbitration. C) Mediation. D) Small Claims Court. Show Answer Correct Answer: A) Class Action Lawsuit. 18. What must the BSI provide to Financial Consumers after executing a contract? A) A copy of the signed documents. B) Only the contract terms. C) No documents provided. D) None of the above. Show Answer Correct Answer: A) A copy of the signed documents. 19. Topics such as product liability, privacy rights, unfair business practices, etc. are considered areas of ..... law. A) Business. B) Marketplace. C) Copyright. D) Consumer. Show Answer Correct Answer: D) Consumer. 20. Occupancy is a means of acquiring abandoned property. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 21. Consumer Protection Act provides 5 consumer rights to help in getting their grievances redressed. A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: B) FALSE. 22. Which government agency is responsible for protecting consumers in banking? A) Federal Trade Commission (FTC). B) Consumer Financial Protection Bureau (CFPB). C) Environmental Protection Agency (EPA). D) Department of Education. Show Answer Correct Answer: B) Consumer Financial Protection Bureau (CFPB). 23. What are the responsibilities of businesses in ensuring consumer protection? A) Selling unsafe and unreliable products. B) Providing inaccurate information and unfair pricing. C) Ensuring safe and reliable products, accurate information, fair pricing, and addressing consumer complaints and concerns. D) Ignoring consumer complaints and concerns. Show Answer Correct Answer: C) Ensuring safe and reliable products, accurate information, fair pricing, and addressing consumer complaints and concerns. 24. What is one of the roles of the Financial Conduct Authority (FCA)? A) To provide grants to financial institutions. B) To ensure that financial markets are honest, fair, and effective. C) To offer legal advice to consumers. D) To manage the national budget. Show Answer Correct Answer: B) To ensure that financial markets are honest, fair, and effective. 25. A prolonged warranty offered to consumers in addition to the standard warranty and may be offered by the warranty administrator, retailer, or manufacturer? A) Implied Warranty. B) Service Contract. C) Extended Warranty. D) Express Warranty. Show Answer Correct Answer: C) Extended Warranty. ← 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