This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 12 Consumer Protection – Quiz 64 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 12 Consumer Protection Quiz 64 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. A consumer is any person who buys goods for resale. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 2. Consumers have a legal responsibility to:answer choices 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. 3. Which of the following is NOT one of the objectives of the Dodd-Frank Wall Street Reform and Consumer Protection Act? A) Strengthen consumer protections. B) Protect predatory lending. C) Improve transparency. D) Increase regulation. Show Answer Correct Answer: B) Protect predatory lending. 4. Consider the following statements:1. Indira Gandhi was the 1$^{st }$Woman Defense & Finance Minister of India2. Sushma Swaraj was the 1$^{st}$ Woman youngest minister of an Indian state & also the 1$^{st}$ Women to hold a Union Foreign Minister's post A) 2 only. B) 1 only. C) Both 1 & 2. D) Neither 1 nor 2. Show Answer Correct Answer: C) Both 1 & 2. 5. Which scenario best matches identity theft? A) A hacker breaks into a company database without permission. B) Someone uses another person's SSN to open a credit card. C) An investor joins a plan that pays old members with new money. D) You receive a suspicious email asking to verify your password. Show Answer Correct Answer: B) Someone uses another person's SSN to open a credit card. 6. In order to enhance the easy marketability of the products, Dev, a producer gets the home furnishing products manufactured in confirmation to the predetermined specifications. Identify the type of marketing function being described in the given case. A) Physical distribution. B) Standardisation and grading. C) Transportation. D) Warehousing. Show Answer Correct Answer: B) Standardisation and grading. 7. Why is it important to report errors on a credit report? A) Errors can negatively impact a consumer's credit score. B) Errors are automatically corrected over time. C) Errors increase the likelihood of identity theft. D) Errors lead to higher interest rates automatically. Show Answer Correct Answer: A) Errors can negatively impact a consumer's credit score. 8. The protection or promotion of the interests of consumers A) Consumer Affairs. B) Consumer promotion. C) Consumerism. D) Consumption. Show Answer Correct Answer: C) Consumerism. 9. It is the executive department of the Philippine Government tasked as the main economic catalyst that enables businesses become innovative, competitive, job generating, and inclusive; and empowers consumers. A) Department of Health. B) Department of Trade and Industry. C) Food and Drug Administration. D) Department of Agriculture. Show Answer Correct Answer: B) Department of Trade and Industry. 10. Luring consumers with an advertised, but nonexistent bargain, and switching them to a more expensive product A) Loss leader. B) Cooling off period. C) Warranty. D) Bait and switch. Show Answer Correct Answer: D) Bait and switch. 11. Minimum age limit of the member of District forum is- A) 25 years. B) 35 years. C) 40 years. D) 50 years. Show Answer Correct Answer: B) 35 years. 12. What is the 'Lemon Law'? A) Consumer protection law for defective goods. B) A law about fruit sales. C) A law for business transactions. D) A law for real estate. Show Answer Correct Answer: A) Consumer protection law for defective goods. 13. If you are a victim of identity theft, what is one of the first steps you should take? A) Ignore the issue and hope it resolves itself. B) Get replacement credit cards. C) Share your experience on social media. D) Change your phone number. Show Answer Correct Answer: B) Get replacement credit cards. 14. Which Act specifically provides for consumer protection in Malaysia? A) Contracts Act 1950. B) Sale of Goods Act 1957. C) Consumer Protection Act 1999. D) Competition Act 2010. Show Answer Correct Answer: C) Consumer Protection Act 1999. 15. Which of the following is a requirement for conducting home solicitation sales? A) Sales must be conducted by individuals with proper identification. B) Sales can be conducted without notifying the Department. C) Sales can be conducted at any time of the day. D) No permits are required for home solicitation sales. Show Answer Correct Answer: A) Sales must be conducted by individuals with proper identification. 16. To be a chairperson or member of the National Commission, the person should have completed the age of A) 60 years. B) 70 years. C) 40 years. D) 50 years. Show Answer Correct Answer: D) 50 years. 17. What remedies are available to consumers for defective services? A) Free trial of another service. B) Refund, repair, re-performance, complaint to agencies, legal action. C) Discount on future services. D) Gift card for unrelated products. Show Answer Correct Answer: B) Refund, repair, re-performance, complaint to agencies, legal action. 18. A(n) ..... is an act that misleads consumers. A) Telemarketer. B) Consumer. C) Unfair & deceptive practice. D) Caveat Venditor. Show Answer Correct Answer: C) Unfair & deceptive practice. 19. What is one of the rights of a consumer regarding safety? A) Right to safety against hazardous goods. B) Right to choose any product. C) Right to be informed about prices. D) Right to return any product. Show Answer Correct Answer: A) Right to safety against hazardous goods. 20. Assurance given by one party to an agreement to the other A) Auction. B) COD. C) Bait and switch. D) Warranty. Show Answer Correct Answer: D) Warranty. 21. Which legislation governs consumer credit in Great Britain? A) The Consumer Rights Act 2015. B) The Data Protection Act 2018. C) The Consumer Credit Act 1974. D) The Financial Services Act 2012. Show Answer Correct Answer: C) The Consumer Credit Act 1974. 22. FSCS stands for which of the following statements ..... A) Financial Services Compensation Scheme. B) Financial System Customer Scheme. C) Financial Services Customer System. D) Financial Services Compensation System. Show Answer Correct Answer: A) Financial Services Compensation Scheme. 23. What is the maximum pecuniary jurisdiction of the District Commission under CPA, 2019? A) ₹ 20 lakh. B) ₹ 1 crore. C) ₹ 50 lakh. D) ₹ 2 crore. Show Answer Correct Answer: B) ₹ 1 crore. 24. A nonprofit agency sponsored by local businesses that helps to resolve disputes between consumers and sellers. A) Federal Trade Commission (FTC). B) Walmart. C) Better Business Bureau (BBB). D) None of the above. Show Answer Correct Answer: C) Better Business Bureau (BBB). 25. Which of the following activities lie within the scope of consumer protection? A) Educating consumers about their rights and responsibilities. B) Helping consumers in getting their grievances redressed. C) Protecting the interests of consumers. D) All of the above. Show Answer Correct Answer: D) All of the above. ← 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