This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 12 Consumer Protection – Quiz 33 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 12 Consumer Protection Quiz 33 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is the role of a credit provider in the South African credit market? A) To regulate credit bureaus. B) To collect debts. C) To issue credit and loans. D) To monitor credit scores. Show Answer Correct Answer: C) To issue credit and loans. 2. Which of the following is NOT a requirement of the Dodd-Frank Wall Street Reform and Consumer Protection Act? A) An increase in market liquidity. B) Tightening of consumer financial protections. C) Creation of a modern regulatory structure. D) Verification of borrower credit scores. Show Answer Correct Answer: A) An increase in market liquidity. 3. What is the primary purpose of the Truth in Lending Act (1968)? A) To allow creditors to change loan terms after finalization. B) To force creditors to disclose all loan terms before finalization. C) To eliminate the use of annual percentage rates. D) To increase hidden charges in loans. Show Answer Correct Answer: B) To force creditors to disclose all loan terms before finalization. 4. Seller often adopt 'restrictive trade practice' to increase their profits and sales of the products. Few examples are: A) Imposing penalty for breach of contract. B) Misleading advertisements. C) Asking the consumer to buy goods as condition precedent for buying other goods. D) Fake price stickers on the products. Show Answer Correct Answer: C) Asking the consumer to buy goods as condition precedent for buying other goods. 5. What happens if a claim is not settled at the consultation before the Registrar? A) It will be fixed for hearing before a Referee. B) It will be dismissed. C) It will be sent to a higher court. D) It will be ignored. Show Answer Correct Answer: A) It will be fixed for hearing before a Referee. 6. A consumer damages goods bought by not following the instructions, do they still have rights? A) Yes. B) No. C) All the above. D) None of the above. Show Answer Correct Answer: B) No. 7. What is the name of the law that protects consumer rights? A) Trade Practices Act 1974. B) ACCC. C) Competition and consumer act 2010. D) Consumer Affairs and Fair Trading Act 1990. Show Answer Correct Answer: C) Competition and consumer act 2010. 8. As consumers, we have to be ..... of and ..... our own rights A) Unaware / prevent. B) Aware / protect. C) Safety / benefits. D) Brave / fight. Show Answer Correct Answer: B) Aware / protect. 9. What does the Sale of Goods Act 1979 relate to? A) Consumer rights. B) Business expansion. C) Ethical management. D) Increase in suppliers. Show Answer Correct Answer: A) Consumer rights. 10. Laws have been passed to regulate any business offering credit to consumers. They're to protect consumers. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 11. Choose an example of good customer service. A) Food service assistands stands with their backs to the customer. B) A food service assistant smiles and greets the customer politely. C) A food service assistant chews her nails whilst waiting for her customer to make their choice. D) A chef shouts at a colleague when they make an error with a food order. Show Answer Correct Answer: B) A food service assistant smiles and greets the customer politely. 12. When sharing information online, it is safer to do so if there is a lock icon and/or web address begins with https. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 13. Consumer protection can be in the form of laws created by the government A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 14. Authorisation, as one of the FCA's main areas of focus, means: A) Permitting financial service providers to trade. B) Ensuring procedures and practices are in the interest of the customer. C) Using powers to ensure standards are maintained. D) Charging membership fees. Show Answer Correct Answer: A) Permitting financial service providers to trade. 15. The head of the National Commission for consumer is. A) High Court Judge. B) Supreme Court Judge. C) The president of India. D) Minister of Consumer Affairs. Show Answer Correct Answer: B) Supreme Court Judge. 16. If a business lies in advertising, which agency might investigate? A) FBI. B) FTC. C) USPS. D) SEC. Show Answer Correct Answer: B) FTC. 17. How can consumers contact the Financial Ombudsman Service (FOS)? A) By visiting their local bank branch. B) By calling or writing to the FOS. C) By contacting the police. D) By visiting the stock exchange. Show Answer Correct Answer: B) By calling or writing to the FOS. 18. True or False. You have to pay to use the Financial Ombudsman Service? A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 19. Who investigates consumer complaints? A) CCPC. B) The ombudsman. C) Comreg. D) CAI. Show Answer Correct Answer: B) The ombudsman. 20. As per the Caveat emptor "Let the ..... beware" A) Seller. B) Consumer. C) Public. D) None of the above. Show Answer Correct Answer: B) Consumer. 21. A salesperson claims, "Best on the market" and "Superb quality." What does this language represent in consumer transactions? A) Puffing as exaggerated sales talk. B) An express warranty statement. C) An implied warranty of title. D) A legally binding expert opinion. Show Answer Correct Answer: A) Puffing as exaggerated sales talk. 22. What is the Central Consumer Protection Council? A) A council set up by the State Government to protect the interests of consumers. B) A council set up by the District Forum to protect the interests of consumers. C) A council set up by the National Commission to protect the interests of consumers. D) A council set up by the Central Government to protect the interests of consumers. Show Answer Correct Answer: D) A council set up by the Central Government to protect the interests of consumers. 23. A(n) ..... food contains a substance that reduces its quality. A) Misbranded. B) Injurous. C) Adulterated. D) Yummy. Show Answer Correct Answer: C) Adulterated. 24. What role does the NCUA play in relation to credit unions? A) It provides investment advice. B) It charters and regulates federal credit unions. C) It offers insurance for home loans. D) It manages retirement funds. Show Answer Correct Answer: B) It charters and regulates federal credit unions. 25. Who regulates stock market exchanges? A) Congress. B) Securities and exchange commission. C) Christian Garcia. D) New York stock exchange. Show Answer Correct Answer: B) Securities and exchange 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