This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 12 Consumer Protection – Quiz 60 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 12 Consumer Protection Quiz 60 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Divyesh is not satisfied with the judgement of State Commission so he filed an appeal in National Commission. He is not satisfied with the judgement of National Commission and he wants to file an appeal in Supreme Court within 30 days of judgement given by National commission. Can he? A) Yes. B) No. C) All the above. D) None of the above. Show Answer Correct Answer: B) No. 2. What is the purpose of the Consumer Credit Act 1974? A) To regulate the sale of goods. B) To protect consumers when they borrow money. C) To manage public sector finances. D) To control inflation. Show Answer Correct Answer: B) To protect consumers when they borrow money. 3. Who is responsible for protecting consumers from unfair or deceptive business practices, such as misleading information A) CPSC. B) EPA. C) BBB. D) FTC. Show Answer Correct Answer: D) FTC. 4. What is the main focus of the OECD's committee-owned consumer policy? A) Creating consumer protection laws and institutions within member countries. B) Educating consumers about their economic interests. C) Enforcing consumer protection laws across jurisdictions. D) Developing policy recommendations for the digital marketplace. Show Answer Correct Answer: A) Creating consumer protection laws and institutions within member countries. 5. Every document, record or article seized under Consumer Protection Act should be returned within? A) 1 week. B) One month. C) 20 days. D) 10 days. Show Answer Correct Answer: C) 20 days. 6. In Special Situation Maximum Time Limit for Disposal of complaint is 5 months A) 5 months. B) 3 months. C) 2 months. D) 6 months. Show Answer Correct Answer: A) 5 months. 7. It is the agency of the Government of the Philippines responsible for regulating the security industry in the Philippines. A) Securities and Exchange Commission. B) Bangko Sentral ng Pilipinas. C) Department of Education. D) Department of Agriculture. Show Answer Correct Answer: A) Securities and Exchange Commission. 8. One of the government agencies that protects consumers is A) Bargin City. B) Cost Right. C) Price Control. D) BPL. Show Answer Correct Answer: C) Price Control. 9. What types of goods does consumer protection help protect against? A) Defective products, misleading advertising, unsafe goods, unfair trade practices. B) High-quality products. C) Consumer loyalty programs. D) Effective marketing strategies. Show Answer Correct Answer: A) Defective products, misleading advertising, unsafe goods, unfair trade practices. 10. How many repair attempts before a consumer may issue a Notice of Availment of Lemon Law Rights to the concerned manufacturer, distributor, authorized dealer or retailer? A) 2. B) 3. C) 4. D) 5. Show Answer Correct Answer: C) 4. 11. Jordan received a faulty item from an online retailer. What is usually the recommended first action Jordan should take to resolve the issue? A) Contact the business directly to explain the problem. B) Report the issue to a government agency. C) Share the experience on a public forum. D) Seek legal advice immediately. Show Answer Correct Answer: A) Contact the business directly to explain the problem. 12. Which of the following is a responsibility of the Financial Ombudsman Service (FOS)? A) To regulate financial firms. B) To provide financial education to the public. C) To resolve disputes between consumers and financial firms. D) To offer insurance to financial institutions. Show Answer Correct Answer: C) To resolve disputes between consumers and financial firms. 13. Every year is declared as a consumer protection day to educate the public and their right and responsibilities A) August 15. B) April 15. C) March 15. D) September 15. Show Answer Correct Answer: C) March 15. 14. Coka Crackers Ltd, a fire cracker manufacturing company, launched some new products on the eve of Diwali which attracted many customers. To meet the increased demand, the company employed children from nearby villages and in the urgency of work, they ignored to specify safety warnings on packets of crackers. Identify which consumer right is being ignored. A) Right to choose. B) Right to be heard. C) Right to be informed. D) Right to seek redressal. Show Answer Correct Answer: C) Right to be informed. 15. Counterfeit checks will usually have a dull or opaque MICR line A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 16. In what ways can consumers advocate for their rights? A) Waiting for others to take action. B) Consumers can advocate for their rights by educating themselves, reporting violations, joining advocacy groups, using social media, and participating in public discussions. C) Only relying on government agencies. D) Ignoring the issue altogether. Show Answer Correct Answer: B) Consumers can advocate for their rights by educating themselves, reporting violations, joining advocacy groups, using social media, and participating in public discussions. 17. The National Commission consists of a President and ..... others members, one of whom should be a woman. A) 2. B) 4. C) 5. D) 6. Show Answer Correct Answer: B) 4. 18. The Right to be Informed means- A) Consumers must be told about the price, quantity, and quality of a product. B) Consumers should never question the seller. C) Consumers should keep all product information secret. D) Consumers must only buy branded goods. Show Answer Correct Answer: A) Consumers must be told about the price, quantity, and quality of a product. 19. A person who purchases or leases goods, services, or property primarily for personal, family, or household purposes is a(n) A) Caveat Venditor. B) Caveat Emptor. C) Consumer. D) Telemarketer. Show Answer Correct Answer: C) Consumer. 20. The promise to make a gift creates a legal obligation. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 21. Treat others as you'd like to be treated is a good guiding principle behind offering outstanding service or sales through service. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 22. What is the significance of the 2019 amendment to the Consumer Protection Act? A) It introduced the concept of product liability. B) It excluded online purchases from consumer rights. C) It limited the scope of consumer protection. D) It removed all consumer rights. Show Answer Correct Answer: A) It introduced the concept of product liability. 23. In what way the objective of consumer protection can be achieved? A) Self-regulation by business. B) Business associations. C) Government. D) All of the above. Show Answer Correct Answer: D) All of the above. 24. What was the primary purpose of the Dodd-Frank Act of 2010? A) To reduce government spending. B) To establish agencies and practices to address financial practices contributing to the 2008 economic collapse. C) To increase taxes on the wealthy. D) To promote international trade. Show Answer Correct Answer: B) To establish agencies and practices to address financial practices contributing to the 2008 economic collapse. 25. This type of warranty is implicitly imposed by law on all sales A) Express warranty. B) Full warranty. C) Implied warranty. D) Limited warranty. Show Answer Correct Answer: C) Implied warranty. ← 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