This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 12 Consumer Protection – Quiz 53 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 12 Consumer Protection Quiz 53 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following is an example of the Right to Choose? A) Buying a product of your choice without restrictions. B) Receiving free products from sellers. C) Selling products at higher prices. D) Forcing others to buy your preferred brand. Show Answer Correct Answer: A) Buying a product of your choice without restrictions. 2. All consumer products domestically sold whether manufactured locally or imported shall indicate the following in their respective labels of packaging, except? A) Its correct and registered trade name or brand name. B) Its duly registered trademark. C) Its duly registered business name. D) The address of the manufacturer, importer, but not the repacker of the consumer product in the Philippines. Show Answer Correct Answer: D) The address of the manufacturer, importer, but not the repacker of the consumer product in the Philippines. 3. Requesting an insurance company make payment when a policyholder has been involved in an accident, injury, or illness. A) Employee benefits. B) Emergency savings. C) Claim. D) Coverage. Show Answer Correct Answer: C) Claim. 4. Langkah apa yang diambil OJK untuk memastikan transparansi dalam layanan keuangan? A) OJK memastikan transparansi melalui pengungkapan wajib, audit, akses publik terhadap laporan, dan pendidikan konsumen. B) OJK tidak mendorong program pendidikan konsumen. C) OJK membatasi akses ke laporan keuangan. D) OJK mempromosikan produk keuangan eksklusif. Show Answer Correct Answer: A) OJK memastikan transparansi melalui pengungkapan wajib, audit, akses publik terhadap laporan, dan pendidikan konsumen. 5. What does 'Good' refer to in the context of the Consumer Protection Act? A) Any personal property. B) Only tangible property. C) Only intangible property. D) Only residential property. Show Answer Correct Answer: A) Any personal property. 6. What is the primary function of the Financial Conduct Authority (FCA)? A) To provide financial advice to consumers. B) To regulate financial markets and firms. C) To offer compensation to consumers for financial losses. D) To resolve disputes between consumers and financial firms. Show Answer Correct Answer: B) To regulate financial markets and firms. 7. This Act provides automatic guarantees to consumers against issues like fraud or mis-selling when they purchase a product or service: A) Racial Discrimination Act 1975 (Cth). B) Australian Human Rights Commission Act 1986 (Cth). C) Australian Consumer Law Act 1992 (Cth). D) Privacy Act 1988 (Cth). Show Answer Correct Answer: C) Australian Consumer Law Act 1992 (Cth). 8. Greatly exaggerated sales talk. A) Encumberance. B) Rectifying. C) Bragging. D) Puffing. Show Answer Correct Answer: D) Puffing. 9. What is the maximum compensation that can be awarded by a consumer court? A) 10, 000. B) 100, 000. C) Cannot be determined. D) $ 1, 000. Show Answer Correct Answer: C) Cannot be determined. 10. What is the main focus of the Consumer Protection from Unfair Trading Regulations 2008? A) To regulate online purchases. B) To make it a criminal offence for businesses to engage in unfair practices. C) To control the quality of goods. D) To provide a cooling-off period for contracts. Show Answer Correct Answer: B) To make it a criminal offence for businesses to engage in unfair practices. 11. The symbol which is used in ornaments- A) FPO. B) Halmark. C) ISI mark. D) None of these. Show Answer Correct Answer: B) Halmark. 12. A company wants to market a new drug nationwide. Which requirement must be met to protect consumers? A) Nutrition labels on the outer packaging. B) Clean facilities meeting FDA standards. C) Inspection by local restaurant regulators. D) Approval from the FDA before marketing. Show Answer Correct Answer: D) Approval from the FDA before marketing. 13. Bagaimana konsumen dapat mengajukan keluhan terhadap lembaga keuangan? A) Konsumen hanya dapat mengajukan keluhan melalui media sosial. B) Keluhan harus diajukan secara langsung di cabang bank saja. C) Konsumen harus menghubungi IRS untuk keluhan keuangan. D) Konsumen dapat mengajukan keluhan kepada lembaga keuangan, CFPB, otoritas perbankan negara bagian, atau kelompok advokasi konsumen. Show Answer Correct Answer: D) Konsumen dapat mengajukan keluhan kepada lembaga keuangan, CFPB, otoritas perbankan negara bagian, atau kelompok advokasi konsumen. 14. What is one of the criticisms of the Consumer Protection Councils? A) They are too effective. B) They lack enforcement capabilities. C) They have too much power. D) They are too costly to operate. Show Answer Correct Answer: B) They lack enforcement capabilities. 15. True or False. The Financial Conduct Authority permits financial service providers to trade? A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 16. Apa definisi literasi keuangan menurutmu? A) Kemampuan untuk membaca dan menulis dalam konteks keuangan. B) Kemampuan untuk memahami dan menggunakan informasi keuangan secara efektif. C) Kemampuan untuk menghitung angka-angka keuangan secara akurat. D) Kemampuan untuk mengelola uang secara harian. Show Answer Correct Answer: B) Kemampuan untuk memahami dan menggunakan informasi keuangan secara efektif. 17. It has been enacted in order to protect consumer rights and punish those who violate it. A) Consumer Preventive Act. B) Consumer Protection Act. C) Consumer Production Act. D) Consumer Act. Show Answer Correct Answer: B) Consumer Protection Act. 18. What does 'Defect' mean as per Sec 2(f)? A) Any fault, imperfection or shortcoming in quality. B) A minor issue with the product. C) A defect that can be ignored. D) A defect that is not significant. Show Answer Correct Answer: A) Any fault, imperfection or shortcoming in quality. 19. Consumer protection act is applicable on: A) Immovable goods only. B) Movable goods only. C) Services only. D) All goods and services. Show Answer Correct Answer: D) All goods and services. 20. What does the Fair Credit Reporting Act (FCRA) protect? A) The regulation of the stock market. B) The accuracy and privacy of information in consumer credit reports. C) Consumers from unfair debt collection practices. D) Consumers from false advertising. Show Answer Correct Answer: B) The accuracy and privacy of information in consumer credit reports. 21. What is one of the key objectives of the Consumer Protection Act, 2019? A) To provide timely resolution of complaints. B) To limit consumer rights. C) To increase product defects. D) To promote monopolies. Show Answer Correct Answer: A) To provide timely resolution of complaints. 22. Bagaimana konsumen dapat tetap terinformasi tentang hak dan perlindungan mereka? A) Konsumen dapat tetap terinformasi dengan mengunjungi situs web pemerintah dan berlangganan buletin advokasi konsumen. B) Mengabaikan hak konsumen sama sekali. C) Beranggapan bahwa semua toko memberikan perlindungan yang sama. D) Hanya mengandalkan media sosial untuk pembaruan. Show Answer Correct Answer: A) Konsumen dapat tetap terinformasi dengan mengunjungi situs web pemerintah dan berlangganan buletin advokasi konsumen. 23. What is the primary role of an ombudsman? A) To provide legal representation in court. B) To offer complaints procedures for dissatisfied customers. C) To sell consumer products. D) To manage financial investments. Show Answer Correct Answer: B) To offer complaints procedures for dissatisfied customers. 24. During a recent project, Riyaan was tasked with understanding the role of the investigation wing of the CCPA. What is the primary function of this wing? A) To provide legal advice. B) To conduct inquiries and investigations. C) To oversee advertising standards. D) To manage consumer complaints. Show Answer Correct Answer: B) To conduct inquiries and investigations. 25. Which nonprofit organization helps consumers by providing reviews and ratings of businesses? A) Better Business Bureau (BBB). B) Federal Trade Commission (FTC). C) Securities and Exchange Commission (SEC). D) Consumer Financial Protection Bureau (CFPB). Show Answer Correct Answer: A) Better Business Bureau (BBB). ← 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