This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 12 Consumer Protection – Quiz 56 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 12 Consumer Protection Quiz 56 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following would be your best unit price? A) 30 ounces for $ 10.00. B) 5 ounces for $ 1.00. C) 10 ounces for $ 2.50. D) 15 ounces for $ 2.25. Show Answer Correct Answer: D) 15 ounces for $ 2.25. 2. What is the role of redressal mechanisms in consumer protection? A) Redressal mechanisms have no role in consumer protection. B) Redressal mechanisms only benefit sellers and service providers. C) Redressal mechanisms are only applicable for minor complaints or grievances. D) Redressal mechanisms provide a way for consumers to seek resolution for their complaints or grievances against sellers or service providers. Show Answer Correct Answer: D) Redressal mechanisms provide a way for consumers to seek resolution for their complaints or grievances against sellers or service providers. 3. The main objective of Consumer Protection is to- A) Increase company profits. B) Protect the rights and interests of consumers. C) Promote foreign trade. D) Support business monopolies. Show Answer Correct Answer: B) Protect the rights and interests of consumers. 4. State Commission If the value of goods, services and claim is ..... A) Under 20 lakh. B) 20 lakh to 1 cr. C) Upto 1 cr. D) None of the above. Show Answer Correct Answer: B) 20 lakh to 1 cr. 5. Is an appeal against the order of the National Commission Possible? A) High court of the state. B) Supreme court of the India. C) No appeal allowed. D) Can file a review petition, since no appeal is allowed. Show Answer Correct Answer: B) Supreme court of the India. 6. Who is a customer? A) Someone who purchase goods. B) Some who purchase and use the goods they purchase. C) Someone who is responsible. D) Someone who know their rights. Show Answer Correct Answer: A) Someone who purchase goods. 7. Which regulatory authority oversees advertising standards in India to ensure they comply with consumer protection laws? A) Food Safety and Standards Authority of India (FSSAI). B) Ministry of Information and Broadcasting. C) Advertising Standards Council of India (ASCI). D) Telecom Regulatory Authority of India (TRAI). Show Answer Correct Answer: C) Advertising Standards Council of India (ASCI). 8. Which Maxim has the meaning 'all necessary changes having been made'? A) Damnum sine injuria. B) Amicus curie. C) Mutatis Mutandis. D) Antel Litem Motam. Show Answer Correct Answer: C) Mutatis Mutandis. 9. Which warning best helps a consumer identify a pyramid scheme rather than a legitimate sale? A) Refunds available within thirty days. B) Transparent pricing and product warranties. C) Earnings tied to recruiting new participants. D) Revenue mainly from product retail sales. Show Answer Correct Answer: C) Earnings tied to recruiting new participants. 10. Which of the following act says about the breach of promises binding buyer and the seller? A) The Sale of Goods Act. B) The Indian Contract Act. C) The Trademarks Act. D) The competition Act. Show Answer Correct Answer: B) The Indian Contract Act. 11. Which one of these acts prevents the sale of goods that are not fit for purpose? A) Sale of Goods Act 1979. B) Food Safety Act 1990. C) Trade Descriptions Act 2011. D) National Consumer Credit Protection Act 2009. Show Answer Correct Answer: A) Sale of Goods Act 1979. 12. Which of the following is a key requirement of the Truth in Lending Act? A) Creditors must provide borrowers with a detailed summary of loan costs. B) Creditors must report all loans to credit bureaus. C) Creditors must verify borrowers' employment status. D) Creditors must offer the lowest possible interest rate. Show Answer Correct Answer: A) Creditors must provide borrowers with a detailed summary of loan costs. 13. Agency that is responsible for protecting consumers from unfair or deceptive business practices. A) Federal Trade Commission. B) Better Business Bureau (BBB). C) Consumer Product Safety Commission. D) None of the above. Show Answer Correct Answer: A) Federal Trade Commission. 14. What information should be included in the Statements of Account or Billing Statements? A) Opening and closing balances. B) Only the closing balance. C) No information required. D) None of the above. Show Answer Correct Answer: A) Opening and closing balances. 15. . Shubhangi purchased a car for Rs. 1.1 crore and found its engine defective. Despite many complaints, the defect was not rectified. She filed a complaint in National Commission but was not satisfied with its order. Suggest her the appropriate authority where she can appeal? A) DISTRICT FORUM. B) STATE COMMISSION. C) NATIONAL COMMISSION. D) SUPREME COURT. Show Answer Correct Answer: D) SUPREME COURT. 16. Odd one out:District Judge, High Court Judge, Commissioner, Supreme Court Judge A) District Judge. B) High Court Judge. C) Commissioner. D) Supreme Court Judge. Show Answer Correct Answer: C) Commissioner. 17. What is an example of unethical behavior by businesses according to consumer protection laws? A) Giving false information about a product. B) Offering discounts during sales. C) Providing excellent customer service. D) Launching new product lines. Show Answer Correct Answer: A) Giving false information about a product. 18. How can consumers protect themselves from fraudulent practices? A) Trusting businesses without verification. B) Being cautious of suspicious offers, verifying the legitimacy of businesses, and safeguarding personal information. C) Ignoring suspicious offers. D) Sharing personal information with anyone. Show Answer Correct Answer: B) Being cautious of suspicious offers, verifying the legitimacy of businesses, and safeguarding personal information. 19. The ..... is what/who determines credit score A) Truth in lending act. B) Bank. C) Credit bureau. D) None of the above. Show Answer Correct Answer: C) Credit bureau. 20. Mark purchased an iron from a local vendor which unfortunately led to a mishap, he went to claim compensation from the district consumer court but he was denied any claim. Which of the following can be true? A) He didn't procure a bill during the purchase. B) He failed to check the standard mark during the purchase. C) District consumer courts are usually corrupt. D) Both A and B. Show Answer Correct Answer: D) Both A and B. 21. An example of receiving a pedicure from a local salon is called A) Goods. B) Services. C) Scam. D) Warranty. Show Answer Correct Answer: B) Services. 22. The Consumer Protection Act, 2019 came into force on: A) 15 March 2019. B) 15 August 2019. C) 20 July 2020. D) 1 January 2020. Show Answer Correct Answer: C) 20 July 2020. 23. What is the significance of the case MacPherson v Buick Motor Co? A) It established the liability due to negligence. B) It reinforced privity of contract. C) It limited consumer rights. D) It had no impact on product liability. Show Answer Correct Answer: A) It established the liability due to negligence. 24. The National commission entertains complaints involving claims- A) Exceeding 1 crore. B) Exceeding 10 crore. C) Not exceeding Rs. 10 crore. D) None of these. Show Answer Correct Answer: B) Exceeding 10 crore. 25. World Consumer Rights Day is observed A) 24th November. B) 5th June. C) 15th March. D) 1st January. Show Answer Correct Answer: C) 15th March. ← 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