This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 12 Consumer Protection – Quiz 62 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 12 Consumer Protection Quiz 62 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. A title that may be voided if the injured party chooses to do so. A) Injunction. B) Joint Statement. C) Voidable Title. D) Ignore and Deny. Show Answer Correct Answer: C) Voidable Title. 2. This is a consumer right that provides the right to be protected against the marketing of goods or the provision of services that are hazardous to health and life? A) Right to basic needs. B) Right to choose. C) Right to information. D) Right to safety. Show Answer Correct Answer: D) Right to safety. 3. When two people exchange services or good without using money A) Goods. B) Bartering. C) Scams. D) Services. Show Answer Correct Answer: B) Bartering. 4. Which entities are required to follow the Fair Credit Reporting Act? A) Only credit bureaus. B) Only data furnishers. C) Only businesses using credit reports. D) Credit bureaus, data furnishers, and businesses using credit reports. Show Answer Correct Answer: D) Credit bureaus, data furnishers, and businesses using credit reports. 5. True or False. The Consumer Credit Act ensures that regulated creditors are limited in the type of court action they can take? A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 6. One of the causes of the credit crunch was banks lending money to people who could not afford to repay it. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 7. True or False. The Financial Ombudsman Service don't make a final decision in cases and often just mediate between the two parties? A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 8. To publish a magazine under the title 'Upbhokta Jagran' is an example of which right of consumer? A) Right to be informed. B) Right to safety. C) Right to be heard. D) Right to consumer education. Show Answer Correct Answer: D) Right to consumer education. 9. What is the primary goal of the Truth in Lending Act? A) To promote informed use of consumer credit. B) To increase loan amounts. C) To reduce interest rates. D) To eliminate credit cards. Show Answer Correct Answer: A) To promote informed use of consumer credit. 10. The consumer protection Act in India was first enacted in which year? A) 1986. B) 2000. C) 2019. D) None of the above. Show Answer Correct Answer: A) 1986. 11. Which organisation regulates the financial markets? A) FCA. B) FOS. C) OFT. D) None of the above. Show Answer Correct Answer: C) OFT. 12. Edison removed a binding protective flap and his son was injured. Which legal reasoning most supports the manufacturer's defense? A) Duty to warn despite obvious hazard. B) Assumption of risk from altering safety device. C) Res ipsa loquitur proving negligence. D) Strict liability despite consumer alteration. Show Answer Correct Answer: B) Assumption of risk from altering safety device. 13. An oral or written statement, promise, or other representation about the quality of a product A) Express Warranty. B) Implied Warranty. C) All the above. D) None of the above. Show Answer Correct Answer: A) Express Warranty. 14. The Consumer Protection Act, 2019 replaced the earlier Act of- A) 1984. B) 1986. C) 1991. D) None of the above. Show Answer Correct Answer: B) 1986. 15. Who appoints the State commission members? A) Central Government. B) State Government. C) District Collector. D) Supreme Court. Show Answer Correct Answer: B) State Government. 16. The BBB stands for which? A) The Boss' Bureau on Business. B) The Business' Bureau of Business. C) The Better Business Bureau. D) None of the above. Show Answer Correct Answer: C) The Better Business Bureau. 17. Who can file a complaint with the District Forum? A) Only the consumer to whom goods/services are sold. B) Only recognized consumer association. C) Any consumer having the same interest with permission of the District Forum. D) All of the above. Show Answer Correct Answer: D) All of the above. 18. Mira recently learned about consumer rights in her class. She was curious and asked her teacher, "Which Act established the Central Consumer Protection Authority?" A) Consumer Rights Act, 2020. B) Consumer Protection Act, 2019. C) Trade Practices Act, 2018. D) Consumer Protection Act, 1986. Show Answer Correct Answer: B) Consumer Protection Act, 2019. 19. Who is said to be a king in the free market economy? A) Investor. B) Dealer. C) Seller. D) Consumer. Show Answer Correct Answer: D) Consumer. 20. Which of the following is NOT a requirement for a valid warranty? A) It must specify the duration of coverage. B) It must be in writing. C) It must be provided at the time of sale. D) It must cover all types of damages. Show Answer Correct Answer: D) It must cover all types of damages. 21. It is the executive department of the Philippine government responsible for the promotion of agricultural and fisheries development and growth. A) Department of Agriculture. B) Food and Drug Administration. C) Department of Trade and Industry. D) Department of Health. Show Answer Correct Answer: A) Department of Agriculture. 22. What are the legal avenues to resolving disputes of consumer interests? A) Approach the supplier. B) Ignore the issue. C) Contact the media. D) Leave a bad review online. Show Answer Correct Answer: A) Approach the supplier. 23. Which of the following laws gives consumer three days to cancel contracts made with door-to-door salespersons? A) The Truth in Lending Act. B) The Consumer Protection Act. C) Federal Trade Commission Regulation. D) The Sales Act. Show Answer Correct Answer: C) Federal Trade Commission Regulation. 24. This right protects a consumer from hazardous goods A) Right to seek redressal. B) Right to safety. C) Right to consumer education. D) Right to choose. Show Answer Correct Answer: B) Right to safety. 25. Which of the following was NOT a petroleum related environmental disaster. A) Deepwater Horizon. B) Exxon Valdez. C) Iraq destruction of Kuwaiti oil fields. D) Chernobyl. Show Answer Correct Answer: D) Chernobyl. ← 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