This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 12 Consumer Protection – Quiz 49 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 12 Consumer Protection Quiz 49 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. A legal heir or representative of a deceased consumer cannot file a complaint in consumer forum A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: B) FALSE. 2. Right to choose means the right to be A) Able to choose products and services based on competitive prices. B) Purchase goods and services. C) To be informed about the quality. D) To buy more thank you can afford. Show Answer Correct Answer: A) Able to choose products and services based on competitive prices. 3. Complaint for a product having value of Rs. 1 Crore can be filed in ..... A) National Commission. B) National Court. C) Supreme Court. D) All of the above. Show Answer Correct Answer: A) National Commission. 4. Protects the consumer against dishonest or misleading advertising or labeling, right in information and facts A) Right to safety. B) Right to basic needs. C) Right to information. D) Right to choose. Show Answer Correct Answer: C) Right to information. 5. The Tribunal for Consumer Claims only provides advice to the Minister. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 6. What is the primary purpose of the Fair Debt Collection Practices Act (FDCPA) of 1977? A) To set guidelines for debt collectors' behavior. B) To increase the interest rates on loans. C) To provide tax benefits to debt collectors. D) To eliminate all forms of debt. Show Answer Correct Answer: A) To set guidelines for debt collectors' behavior. 7. ..... should ensure supply of quality goods and services at reasonable prices. A) Businessmen. B) Goverment. C) All the above. D) None of the above. Show Answer Correct Answer: A) Businessmen. 8. Which of the following is not a function of Nongovernment Organisations (NGOs) for enhancing Consumer Protection? A) Accelerating consumer awareness. B) Filing suits, complaints on behalf of consumers. C) Solving personal and marital problems of consumers. D) Collecting data on different products and testing them. Show Answer Correct Answer: C) Solving personal and marital problems of consumers. 9. ..... provides the adequate and accurate information about quality, quantity, purity, standard and the price of goods and services. A) Right to choose. B) Right to be informed. C) Right to consumer education. D) Right to safety. Show Answer Correct Answer: B) Right to be informed. 10. What should the Board of Directors primarily be responsible for? A) Approving and overseeing the implementation of the BSFI's CPRMS. B) Ensuring that the practices of the BSFIs are aligned with the approved consumer protection policies. C) Identifying, measuring, monitoring, and mitigating FCP risks. D) Providing training to employees on consumer protection. Show Answer Correct Answer: A) Approving and overseeing the implementation of the BSFI's CPRMS. 11. Which standardisation mark should be checked by Ms. Jain while buying gram flour? A) ISI. B) Agmark. C) FPO. D) Hallmark. Show Answer Correct Answer: B) Agmark. 12. A form of identity theft when thieves create fake websites designed to look like a bank or online store and then trick people out of account or login information. A) Social Engineering. B) Skimming. C) Phishing. D) Pharming. Show Answer Correct Answer: D) Pharming. 13. The Prudential Regulation Authority (PRA) is responsible for the prudential regulation of: A) Financial advisers. B) Consumer credit providers. C) Banks, building societies, credit unions, insurers and major investment firms. D) None of the above. Show Answer Correct Answer: C) Banks, building societies, credit unions, insurers and major investment firms. 14. What would be a secure password to use online? A) The word "password". B) 12345678. C) Your birthdate. D) 1Ha$ p&Ud. Show Answer Correct Answer: D) 1Ha$ p&Ud. 15. Consumer Protection Act came into force in: A) 1986. B) 1988. C) 1982. D) 1984. Show Answer Correct Answer: A) 1986. 16. Under the amended Consumer Protection Act, 1993 the time limit for filing a complaint has been limited to a period of ..... year. A) 2. B) 3. C) 4. D) 5. Show Answer Correct Answer: A) 2. 17. Which logo would you like to see while purchasing a tin of edible oil? A) ISI. B) Agmark. C) All the above. D) None of the above. Show Answer Correct Answer: B) Agmark. 18. What is caveat emptor? A) "Let the seller beware. B) "Let the buyer beware. C) Both A and B. D) None of the above. Show Answer Correct Answer: B) "Let the buyer beware. 19. True or False. The Financial Conduct Authority is funded by membership fees charged to financial service providers? A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 20. The government of the Bahamas accepts some of the responsibilities for consumer protection. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 21. A settlement of a dispute or controversy by setting up an independent person between two contending parties in order to aid them in the settlement of their disagreement. A) Mediation. B) Settlement. C) Complaint. D) Legal Action. Show Answer Correct Answer: A) Mediation. 22. Rita wants to buy a food processor. What qualification certification mark should she look for to ensure about its quality. A) ISI. B) WOOLMARK. C) AGMARK. D) FPO. Show Answer Correct Answer: A) ISI. 23. What should be provided to Financial Consumers to ensure they understand the terms and conditions prior to signing a contract? A) Clear verbal explanation. B) Written contract only. C) No explanation needed. D) None of the above. Show Answer Correct Answer: A) Clear verbal explanation. 24. Which of the following is a defense a manufacturer can use in a product liability case? A) The product was misused by the consumer. B) The product was altered after purchase. C) The consumer did not read the instructions. D) All of the above. Show Answer Correct Answer: D) All of the above. 25. What is the main goal of the committee on consumer policy? A) Improving consumer policy research. B) Creating consumer protection laws. C) Educating consumers about their rights. D) Promoting international cooperation. Show Answer Correct Answer: A) Improving consumer policy research. ← 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