This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 12 Consumer Protection – Quiz 54 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 12 Consumer Protection Quiz 54 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Property intentionally placed somewhere but then forgotten is referred to as mislaid property. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 2. Ranjan bought a bottle of soft drink of a famous beverage company and found a gutka pouch floating inside the bottle. He forwarded a legal notice to the company, accusing it of the deficiency in service that could cause health hazard to the consumer. Identify the right of consumer being violated in the given case. A) Right to safety. B) Right to be heard. C) Right to seek redressal. D) Right to consumer education. Show Answer Correct Answer: A) Right to safety. 3. As per the Caveat Venditor "Let the ..... beware" A) Seller. B) Consumer. C) Public. D) None of the above. Show Answer Correct Answer: A) Seller. 4. A box of 12 candy canes cost $ 1.00. How much would 1 cost? A) $ .10. B) $ .12. C) $ .08. D) $ .01. Show Answer Correct Answer: C) $ .08. 5. What is the purpose of Consumer Protection? A) To safeguard the interests and rights of consumers. B) To promote business interests. C) To increase product prices. D) To limit consumer choices. Show Answer Correct Answer: A) To safeguard the interests and rights of consumers. 6. What is the role of a 'Supplier'? A) Provides goods or services to consumers. B) Only sells goods. C) Only provides services. D) Does not interact with consumers. Show Answer Correct Answer: A) Provides goods or services to consumers. 7. What are consumer rights? A) Rights given to businesses to exploit consumers. B) Rights given to consumers to protect them from unfair business practices. C) Rights given to consumers to ignore business practices. D) Rights given to consumers to harm businesses. Show Answer Correct Answer: B) Rights given to consumers to protect them from unfair business practices. 8. True or False. The Financial Ombudsman Service is unbiased and impartial? A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 9. Which of the following is a defense against liability under the Consumer Protection Act 1987? A) The defect was known to the consumer. B) The defect is attributable to compliance with any requirement imposed by or under any enactment. C) The product was marketed internationally. D) The product was sold at a discount. Show Answer Correct Answer: B) The defect is attributable to compliance with any requirement imposed by or under any enactment. 10. What does consumer dispute mean? A) Two or more consumers having disagreement amongst each other. B) Consumer filing complaint against the seller but seller doesnot agree to it. C) Disagreement or fights between two or more sellers. D) Consumer not satisfied with the councils decision. Show Answer Correct Answer: B) Consumer filing complaint against the seller but seller doesnot agree to it. 11. Which of the following is covered by the Financial Services Compensation Scheme (FSCS)? A) Losses from gambling. B) Losses from failed financial firms. C) Losses from property damage. D) Losses from personal injury. Show Answer Correct Answer: B) Losses from failed financial firms. 12. A disadvantage of paying on credit is having A) More interest added to your account. B) Delivery charges. C) Additional fees. D) Lower credit score. Show Answer Correct Answer: C) Additional fees. 13. True or False. The Financial Ombudsman Service becomes involved in disputes only when they have been sorted between the consumer and the financial institution? A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 14. Principal health agency in the Philippines. Access to basic health services to al Filipinos A) DTI. B) WHO. C) DA. D) DOH. Show Answer Correct Answer: D) DOH. 15. What is an example of an unfair practice? A) Customer feedback. B) Hidden fees. C) Clear pricing. D) Quality service. Show Answer Correct Answer: B) Hidden fees. 16. Under the Consumer Protection Act of India, which forum is responsible for adjudicating disputes involving claims up to Rs. 1 crore? A) District Consumer Disputes Redressal Forum. B) State Consumer Disputes Redressal Commission. C) National Consumer Disputes Redressal Commission. D) High Court. Show Answer Correct Answer: A) District Consumer Disputes Redressal Forum. 17. The dollar amount you have to pay before an insurance plan takes effect and the insurance company starts paying is the ..... A) Copay. B) Premium. C) Deductible. D) None of the above. Show Answer Correct Answer: C) Deductible. 18. Tahukah kamu undang-undang apa yang menandai era baru dalam regulasi dan pengawasan layanan keuangan di Indonesia? A) UU Nomor 7 Tahun 2020. B) UU Nomor 4 Tahun 2023. C) UU Nomor 21 Tahun 2011. D) UU Nomor 10 Tahun 2015. Show Answer Correct Answer: C) UU Nomor 21 Tahun 2011. 19. Which of the following is NOT a responsibility of the Financial Conduct Authority (FCA)? A) Protecting consumers. B) Promoting competition. C) Providing financial advice. D) Enhancing market integrity. Show Answer Correct Answer: C) Providing financial advice. 20. Appeal against the judgment given by a State Commission can be filed in National Commission. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 21. Working period of the member of State Commission is- A) 5 years. B) 10 years. C) 12 years. D) 15 years. Show Answer Correct Answer: A) 5 years. 22. Complaint for a product having value between Rs. 20 Lakhs and Rs. 1 Crore can be filed in ..... A) District court. B) State Commission. C) State Court. D) Both B and C. Show Answer Correct Answer: B) State Commission. 23. Apa yang dimaksud dengan inklusi keuangan? A) Penyediaan akses ke berbagai lembaga keuangan, produk, dan layanan. B) Pembatasan akses ke layanan keuangan. C) Regulasi sektor perbankan. D) Peningkatan keuntungan lembaga keuangan. Show Answer Correct Answer: A) Penyediaan akses ke berbagai lembaga keuangan, produk, dan layanan. 24. Which definition most accurately describes a consumer in the marketplace context presented? A) Anyone who acquires goods for resale to others. B) Someone who acquires a product for personal or household use. C) A person who manufactures products for distribution. D) Any individual advising on product laws and regulations. Show Answer Correct Answer: B) Someone who acquires a product for personal or household use. 25. How does the National Agency for Food Safety contribute to consumer protection? A) By promoting unhealthy food choices to consumers. B) By regulating and monitoring food safety standards to protect consumers from unsafe food products. C) By providing free food samples without any safety checks. D) By ignoring food safety regulations entirely. Show Answer Correct Answer: B) By regulating and monitoring food safety standards to protect consumers from unsafe food products. ← 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