This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 12 Consumer Protection – Quiz 59 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 12 Consumer Protection Quiz 59 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Neha recently bought a new smartphone. Which of the following is NOT a focus of consumer protection? A) Promoting brand loyalty. B) Dealing with faulty goods. C) Addressing unfair contracts. D) Preventing fraud. Show Answer Correct Answer: A) Promoting brand loyalty. 2. Apa pentingnya literasi keuangan bagi konsumen? A) Literasi keuangan hanya penting bagi bisnis. B) Literasi keuangan tidak berpengaruh pada kebiasaan belanja konsumen. C) Literasi keuangan terutama tentang memahami undang-undang pajak. D) Literasi keuangan penting bagi konsumen karena memungkinkan pengambilan keputusan keuangan yang tepat dan meningkatkan kesejahteraan finansial secara keseluruhan. Show Answer Correct Answer: D) Literasi keuangan penting bagi konsumen karena memungkinkan pengambilan keputusan keuangan yang tepat dan meningkatkan kesejahteraan finansial secara keseluruhan. 3. One of the few ways you would know that your identify was stolen is A) Credit report. B) Bank report. C) Card report. D) None of the above. Show Answer Correct Answer: B) Bank report. 4. Consumers have a legal responsibility to: A) Make sure they are not damaging the environment. B) Become informed about the products they are buying. C) Get a refund for a product that isn't working. D) Leave online reviews to help other people. Show Answer Correct Answer: B) Become informed about the products they are buying. 5. You purchased bulk quantities of electric steamer costing ₹ 21, 00, 000. Your consumer complained of electric shocks from it. In which consumer forum will you lodge the complaint? A) District forum. B) State forum. C) National forum. D) None of the above. Show Answer Correct Answer: D) None of the above. 6. Which of the following is NOT a consumer right under the Consumer Act? A) Right to choose. B) Right to privacy. C) Right to information. D) Right to safety. Show Answer Correct Answer: B) Right to privacy. 7. True or False. The Consumer Credit Act ensure that regulated creditors do not need to hold a licence. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 8. Statement I:The Consumer Protection Act 2019 seeks to protect and promote the consumers' interest through speedy and inexpensive redressal of their grievances. Statement II:Consumer protection is significant for both consumers and business alike. A) Statement I is correct and Statement II is wrong. B) Statement II is correct and Statement I is wrong. C) Both the statements are correct. D) Both the statements are incorrect. Show Answer Correct Answer: C) Both the statements are correct. 9. Which organisation regulates the South African credit industry and ensures that the credit industry complies with the National Credit Act. A) National Credit Regulator. B) The National Consumer Forum. C) National Consumer Commission. D) South African Bureau of Standards. Show Answer Correct Answer: A) National Credit Regulator. 10. A guarantee of quality imposed by law A) Mandate. B) Implied Warranty. C) Merchantability. D) Imposition. Show Answer Correct Answer: B) Implied Warranty. 11. What is the main role of the Financial Ombudsman Service (FOS)? A) To provide loans to customers. B) To represent the interests of customers in disputes with financial institutions. C) To regulate financial institutions. D) To offer investment advice. Show Answer Correct Answer: B) To represent the interests of customers in disputes with financial institutions. 12. What is fraudulent misrepresentation? A) Any statement that proves the seller has somehow wronged the buyer. B) Any statement that has the effect of deceiving the buyer. C) Any statement that tells the buyer that something is wrong with their product. D) Any statement that provides a clear contract for each buyer. Show Answer Correct Answer: B) Any statement that has the effect of deceiving the buyer. 13. A form of protection for intellectual property for inventions that exclude others from making or selling their protected product A) A Copyright. B) A Trademark. C) A Patent. D) A Watermark. Show Answer Correct Answer: C) A Patent. 14. Promotes accuracy, fairness, and privacy of information in the files of consumer reporting agencies A) Truth in Lending Act. B) Equal Credit Opportunity Act. C) Fair Credit Reporting Act. D) Fair Debt Collection Act. Show Answer Correct Answer: C) Fair Credit Reporting Act. 15. What is the primary purpose of the Consumer Protection Act, 2019? A) To regulate government policies. B) To enhance product prices. C) To protect the interests of consumers. D) To promote business interests. Show Answer Correct Answer: C) To protect the interests of consumers. 16. Which of the following is not a disadvantage to online shopping? A) Hassle to return a product. B) Waiting for the product to be shipped. C) Can't try on the product. D) Convenient-Always open (24/7/365). Show Answer Correct Answer: D) Convenient-Always open (24/7/365). 17. E-commerce gives Quality services by? A) Providing Mass customisation. B) Getting closer to consumer. C) Globaal reach. D) Providing Good discounts. Show Answer Correct Answer: B) Getting closer to consumer. 18. What rights does the Consumer Protection Act provide to consumers? A) Right to monopolize the market. B) Right to consumer awareness. C) Right to unhealthy environment. D) Right to unfair trade practices. Show Answer Correct Answer: B) Right to consumer awareness. 19. Apa konsekuensi bagi lembaga keuangan yang melanggar undang-undang perlindungan konsumen? A) Program loyalitas pelanggan yang ditingkatkan. B) Pengurangan pajak untuk lembaga tersebut. C) Denda, tindakan hukum, kerusakan reputasi, dan pembatasan operasional. D) Suatu kenaikan suku bunga bagi konsumen. Show Answer Correct Answer: C) Denda, tindakan hukum, kerusakan reputasi, dan pembatasan operasional. 20. FCA stands for which of the following ..... A) Financial Conduct Authority. B) Financial Consumer Authority. C) Financial Customer Authority. D) Financial Conduct Authorisation. Show Answer Correct Answer: A) Financial Conduct Authority. 21. Phishing is best described as: A) Unauthorized access to confidential information. B) A fraudulent attempt to obtain sensitive information via fake emails or messages. C) Restricting access to credit reports. D) An investment that pays guaranteed returns. Show Answer Correct Answer: B) A fraudulent attempt to obtain sensitive information via fake emails or messages. 22. Which type of contract involves the ownership of goods being passed from a buyer to a seller for a price? A) Sales Contract. B) Purchase Contract. C) Goods Contract. D) None of the above. Show Answer Correct Answer: A) Sales Contract. 23. What is the role of the Financial Ombudsmen? A) To encourage fair practices between financial stitutions. B) To become involved in disputes only if they cannot be resolved between the consumer and financial institution. C) All the above. D) None of the above. Show Answer Correct Answer: B) To become involved in disputes only if they cannot be resolved between the consumer and financial institution. 24. The cure fit ayurvedic kasha that you recently purchased from the store near your locality, led to food poisoning. Which consumer right has been violated? A) Right to information. B) Right to chose. C) Right to safety. D) Right to be heard. Show Answer Correct Answer: C) Right to safety. 25. The maximum award that can be made by the Financial Ombudsman Service (FOS) is: A) £50, 000. B) £100, 000. C) £150, 000. D) None of the above. Show Answer Correct Answer: C) £150, 000. ← 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