This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 12 Consumer Protection – Quiz 46 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 12 Consumer Protection Quiz 46 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The Fair Housing Act of 1968 was intended to prevent ..... in housing A) Discrimination. B) Monthly Payments. C) Fixed Rate Loans. D) Access to loans. Show Answer Correct Answer: A) Discrimination. 2. What is the maximum penalty for contravening a prohibition notice under the Consumer Protection Act 1987? A) A warning letter. B) Imprisonment for a term not exceeding three months or a fine not exceeding level 5 on the standard scale or both. C) A fine not exceeding level 3 on the standard scale. D) A temporary suspension of business. Show Answer Correct Answer: B) Imprisonment for a term not exceeding three months or a fine not exceeding level 5 on the standard scale or both. 3. What is the primary purpose of the Fair Credit Reporting Act (1970)? A) To allow businesses to freely share consumer information. B) To prevent false or misleading information about a consumer from being provided to another agency. C) To restrict consumer access to their credit reports. D) To promote the sale of consumer credit reports. Show Answer Correct Answer: B) To prevent false or misleading information about a consumer from being provided to another agency. 4. Any kind of property may be acquired and transferred by contract. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 5. ..... Is a new marketing tool A) Service marketing. B) Viral marketing. C) Social marketing. D) None of the above. Show Answer Correct Answer: C) Social marketing. 6. In the risk of loss, which of the following occurs when the goods are intended primarily for the buyer's use? A) Convert sale. B) Sale on approval. C) Consignment sale. D) Sale or return. Show Answer Correct Answer: B) Sale on approval. 7. The consumer provides to approach the government and public bodies when decision and policies are made which can hamper consumer interests. A) Right to safety. B) Right to be heard. C) Right to Consumer Protection Act. D) Right to consumer education. Show Answer Correct Answer: B) Right to be heard. 8. In 1962, what President introduced during his state of the union address to help protect the consumers? A) Pres. Chester Alan Arthur. B) Pres. Joe Biden. C) Pres. John F. Kennedy. D) Pres. Jimmy Carter. Show Answer Correct Answer: C) Pres. John F. Kennedy. 9. What was the primary motive of the Dodd-Frank Act when it was introduced in 2010? A) To reduce taxes on financial institutions. B) To put more stringent checks and controls on the financial services industry. C) To increase the profits of mortgage companies. D) To eliminate all financial regulations. Show Answer Correct Answer: B) To put more stringent checks and controls on the financial services industry. 10. She wrote the book Silent Spring that brought to light the problems of widespread pesticide use. A) Betty Friedan. B) Phyllis Schlafly. C) Rachel Carson. D) Taylor Swift. Show Answer Correct Answer: C) Rachel Carson. 11. What are not the objectives of Central Consumer Protection Authority? A) To regulate matters relating to violation of rights of consumers. B) To enforce the rights of the consumers as a class. C) To regulate matters relating to unfair trade practices. D) To act as a redressal mechanism. Show Answer Correct Answer: D) To act as a redressal mechanism. 12. All of these are basic consumer rights under Indian law EXCEPT which? A) The right to be compensated. B) The right to be heard. C) The right to be educated. D) The right to be grateful. Show Answer Correct Answer: D) The right to be grateful. 13. What is consumer protection? A) Laws and regulations to protect consumers from unfair business practices. B) Tax breaks for large corporations. C) Ways to increase business profits. D) Government subsidies for businesses. Show Answer Correct Answer: A) Laws and regulations to protect consumers from unfair business practices. 14. Which of the following is a key right protected under the Consumer Rights Act 2015 in Great Britain? A) The right to paid annual leave. B) The right to receive goods that are as described, of satisfactory quality, and fit for purpose. C) The right to a clean environment. D) The right to form a trade union. Show Answer Correct Answer: B) The right to receive goods that are as described, of satisfactory quality, and fit for purpose. 15. The phrase ..... means "let the buyer beware." A) Caveat Emptor. B) Caveat Venditor. C) Bait & Switch. D) Telemarketers. Show Answer Correct Answer: A) Caveat Emptor. 16. Goods that are NOT both existing and identified A) Auction goods. B) Credit goods. C) Future goods. D) Warrantied goods. Show Answer Correct Answer: C) Future goods. 17. National Consumer Day is observed on A) 24th December. B) 24th March. C) 24th April. D) 24th November. Show Answer Correct Answer: A) 24th December. 18. What happens when you declare bankruptcy A) It gets put back into the debts needed to pay. B) The court takes over your money and distributes it to those you owe. C) Money gets put back into the government. D) All of the above. Show Answer Correct Answer: B) The court takes over your money and distributes it to those you owe. 19. Which of the following was created to protect consumers from dangerous products? A) EPA. B) CPSC. C) FTC. D) BBB. Show Answer Correct Answer: B) CPSC. 20. Which is not a way to provide consistent and reliable service? A) Product knowledge. B) Dealing with problems. C) Long waiting time. D) Short waiting time. Show Answer Correct Answer: C) Long waiting time. 21. Jordan received a notice about a loan in his name that he never applied for. He suspects someone is using his identity fraudulently. What should be his immediate action? A) Contact the lender to dispute the loan. B) File a police report about the identity theft. C) Request a credit freeze from the credit bureaus. D) Change his email password. Show Answer Correct Answer: C) Request a credit freeze from the credit bureaus. 22. A popular nationalised bank has been fined ₹ 8 lakh by the country's highest consumer court, National Consumer Disputes Redressal Commission (NCDRC), for not sharing complete insurance policy details with a customer. The bank has been ordered to pay the full amount as compensation to the customer. Identify the right of consumers being violated in the given case. A) Right to be heard. B) Right to seek redressal. C) Right to information. D) Right to safety. Show Answer Correct Answer: C) Right to information. 23. One of the ways consumers can protect themselves is by A) Knowing the best time to shop. B) Knowing their consumer rights and responsibilities. C) All the above. D) None of the above. Show Answer Correct Answer: B) Knowing their consumer rights and responsibilities. 24. What does the Federal Trade Commission's Bureau of Consumer Protection do to help maintain a fair and trustworthy marketplace for all consumers? A) By printing new currency. B) By investigating and stopping deceptive business practices. C) By lowering interest rates for businesses. D) By setting prices for consumer goods. Show Answer Correct Answer: B) By investigating and stopping deceptive business practices. 25. What should businesses provide to comply with the GPSR? A) Clear instructions on how the product should be used. B) Discounts for bulk purchases. C) Extended warranties. D) Free samples. Show Answer Correct Answer: A) Clear instructions on how the product should be used. ← 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