This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 12 Consumer Protection – Quiz 34 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 12 Consumer Protection Quiz 34 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which combination of elements makes a private lottery illegal in most cases? A) Skill, entry fee, prize. B) Skill, free entry, prize. C) Chance, payment, prize. D) Chance, free entry, publicity. Show Answer Correct Answer: C) Chance, payment, prize. 2. The Consumer Protection Act, 1986 provides ..... consumer rights. A) 4. B) 5. C) 6. D) 7. Show Answer Correct Answer: B) 5. 3. The FCA meets its objectives by supervising providers to ensure they are conducting their businesses appropriately. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 4. A nationally promoted soft contact lens solution is linked to a rare eye infection. Which government action best protects public safety while addressing the unsafe product? A) Fund advertising for competing brands to reduce market share. B) Shift oversight to local agencies without federal involvement. C) Issue public advisories and require an immediate product recall. D) Allow continued sales while monitoring voluntary safety improvements. Show Answer Correct Answer: C) Issue public advisories and require an immediate product recall. 5. A formal request to an insurance company asking for a payment when the policyholder has an acciden, illness or injury A) Emergency savings. B) Coverage. C) Claim. D) Employee benefits. Show Answer Correct Answer: C) Claim. 6. It is fraudulent if a local restaurant advertisement claims it serves "the best hot dogs in town." A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 7. The Consumer Act of the Philippines A) RA 7394. B) RA 7349. C) RA 7439. D) RA 7493. Show Answer Correct Answer: A) RA 7394. 8. ..... is the highest authority to settle the consumer dispute under act. A) State commission. B) National commission. C) District forum. D) None of the above. Show Answer Correct Answer: B) National commission. 9. If a product is defective, which right allows a consumer to complain? A) Right to Safety. B) Right to Seek Redressal. C) Right to Choose. D) Right to Be Informed. Show Answer Correct Answer: B) Right to Seek Redressal. 10. What steps should a consumer take if they suspect they are a victim of identity theft? A) Close all bank accounts immediately. B) File a police report and notify the credit bureaus. C) Stop using credit cards altogether. D) Report the theft to their employer. Show Answer Correct Answer: B) File a police report and notify the credit bureaus. 11. What does the Financial Conduct Authority (FCA) regulate? A) Providers of financial services. B) Food safety. C) Environmental protection. D) Transportation services. Show Answer Correct Answer: A) Providers of financial services. 12. The FCA can ..... A) Oversee the design of financial products. B) Ban certain products if necessary. C) Ensure firms cannot exploit difficulties consumers. D) All of these. Show Answer Correct Answer: D) All of these. 13. A consumer can file a suit in ..... , when the value of goods and service along with the compensation claimed does not exceed ₹ 1 crore. A) State Commission. B) District Commission. C) National Commission. D) Supreme Court. Show Answer Correct Answer: B) District Commission. 14. Having the Financial Services Compensation Scheme in place, is mostly likely to do which of the following? A) Raise public confidence in the financial services industry. B) Lower public confidence in the financial services industry. C) Neither of these. D) Both of these. Show Answer Correct Answer: A) Raise public confidence in the financial services industry. 15. Which of the following is a safe way to store your passwords? A) Use the same password for all accounts. B) Write them on a sticky note and keep it on your computer. C) Share them with your friends for safekeeping. D) Use a reputable password manager. Show Answer Correct Answer: D) Use a reputable password manager. 16. Why is consumer rights awareness important in Nigeria? A) It helps in promoting monopolies in the market. B) It is important for increasing taxes on goods. C) It is necessary for reducing the quality of products. D) Consumer rights awareness is important in Nigeria to empower individuals, protect against exploitation, and promote fair trade. Show Answer Correct Answer: D) Consumer rights awareness is important in Nigeria to empower individuals, protect against exploitation, and promote fair trade. 17. Bagaimana OJK memantau kepatuhan lembaga keuangan? A) OJK memantau kepatuhan dengan memberikan hibah kepada lembaga keuangan. B) OJK memantau kepatuhan melalui survei publik dan umpan balik. C) OJK memantau kepatuhan dengan melakukan inspeksi, audit, dan meminta laporan rutin dari lembaga keuangan. D) OJK memantau kepatuhan dengan mengeluarkan denda tanpa inspeksi sebelumnya. Show Answer Correct Answer: C) OJK memantau kepatuhan dengan melakukan inspeksi, audit, dan meminta laporan rutin dari lembaga keuangan. 18. Food Adulteration means to degrade the ..... of food. A) Quality. B) Quantity. C) All the above. D) None of the above. Show Answer Correct Answer: A) Quality. 19. A new customer is ..... ? A) Stay loyal to the company. B) One who has just bought something for the first time. C) Market its product by "word-of-mouth" free of cost. D) Are the least loyal customers. Show Answer Correct Answer: B) One who has just bought something for the first time. 20. Which of the following is an example of an intangible service? A) An apple. B) A computer. C) A carpet clean session. D) A book. Show Answer Correct Answer: C) A carpet clean session. 21. We're doing everything to ..... our customers' expectations. A) Excess. B) Exit. C) Exceed. D) Access. Show Answer Correct Answer: C) Exceed. 22. Misleading advertisement is considered as: A) Trade promotion. B) Product placement. C) Unfair trade practice. D) Legal marketing. Show Answer Correct Answer: C) Unfair trade practice. 23. What is the primary characteristic of a "pyramid scheme" ? A) Joining with the opportunity of earning quick and easy money. B) Providing false information about product quality. C) Supplying potential customer names to the trader. D) Scratching prize coupons. Show Answer Correct Answer: A) Joining with the opportunity of earning quick and easy money. 24. Mrs. V owns a condo that she rents out to Mr. Dominguez. Mrs. V is the ..... in this situation. A) Landlord. B) Renter. C) Tenant. D) Leasee. Show Answer Correct Answer: A) Landlord. 25. What actions are prohibited under the Consumer Protection (Fair Trading) Act? A) Deceiving or misleading consumers. B) Providing accurate information. C) Offering discounts. D) Promoting fair trade. Show Answer Correct Answer: A) Deceiving or misleading consumers. ← 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