This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 12 Consumer Protection – Quiz 65 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 12 Consumer Protection Quiz 65 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. True or False. The Financial Services Compensation Scheme protects investors up to £50, 000 per person per provider? A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 2. Which organisation has been responsible for regulating personal loans since 1 April 2014? A) The Financial Conduct Authority (FCA). B) The Office of Fair Trading (OFT). C) The Bank of England. D) None of the above. Show Answer Correct Answer: A) The Financial Conduct Authority (FCA). 3. Under Section 14 CPA, what is prohibited? A) False advertising. B) Price discrimination. C) Free offers without intention to provide. D) Selling defective products. Show Answer Correct Answer: C) Free offers without intention to provide. 4. True or False. The Consumer Credit Act allows you to withdraw from a credit agreement within 28 days? A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 5. An example is when you use the internet to purchase shoes, clothes, or furniture A) Bargain shopping. B) Garage sales. C) Special discounts. D) Online shopping. Show Answer Correct Answer: D) Online shopping. 6. The Consumer Bill of Rights was first established by President Kennedy in 1962. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 7. What is a misleading advertisement? A) An ad that provides accurate information. B) An ad that falsely represents a product. C) An ad that is informative. D) An ad that promotes discounts. Show Answer Correct Answer: B) An ad that falsely represents a product. 8. What is the importance of customer feedback in improving product quality? A) It is irrelevant for product development. B) It is crucial for enhancing product features. C) It hinders the innovation process. D) It delays the product launch. Show Answer Correct Answer: B) It is crucial for enhancing product features. 9. This prohibits discrimination against people with disabilities A) Americans with Disabilities Act. B) Family and Medical Leave Act. C) Age Discrimination in Employment Act. D) Fair Labor Standards Acts. Show Answer Correct Answer: A) Americans with Disabilities Act. 10. What is the significance of the Consumer Protection Council's public awareness campaigns? A) They discourage consumers from making purchases. B) They educate consumers about their rights and promote informed decision-making. C) They promote government regulations on businesses. D) They focus on increasing corporate profits. Show Answer Correct Answer: B) They educate consumers about their rights and promote informed decision-making. 11. What will be essential in tackling the challenges of the future? A) Increased personalization and enhanced product safety. B) International cooperation. C) Enforcement of consumer protection laws. D) Development of new business models. Show Answer Correct Answer: B) International cooperation. 12. Identify the benefits of good customer service to the business. A) Customers who did not enjoy their experience, will recommend the business to friends. B) Customers who enjoy their experience, will spend more money. C) The business will not expand. D) The business will get bad reviews. Show Answer Correct Answer: B) Customers who enjoy their experience, will spend more money. 13. True or False. The Financial Ombudsman Service gives expert, professional advice, by trained advisors, when resolving an issue? A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 14. When Benji's new television is delivered, there's a crack in the screen most likely caused during delivery. Can he get a repair, replacement or refund from the store? A) Yes. B) No. C) All the above. D) None of the above. Show Answer Correct Answer: A) Yes. 15. As entrepreneurs, we need to have a sense of ..... among entrepreneurs to produce quality goods and services with ..... prices. A) Conscience / fair. B) Consciousness / affordable. C) Curiosity / definite. D) Cautious / low. Show Answer Correct Answer: A) Conscience / fair. 16. The Financial Services Ombudsman do not help to resolve disputes between individuals and financial service providers A) False. B) True. C) All the above. D) None of the above. Show Answer Correct Answer: A) False. 17. Investigation is defined under ..... of Bhartiya Nagrik Suraksha Sanhita, 2023. A) Section 2(m). B) Section 2(L). C) Section 2(h). D) Section 2(i). Show Answer Correct Answer: B) Section 2(L). 18. What is the limitation period for filing a complaint with the District Forum? A) Within 2 years from the date on which the cause of action has arisen. B) Within 1 year from the date on which the cause of action has arisen. C) Within 3 years from the date on which the cause of action has arisen. D) Within 5 years from the date on which the cause of action has arisen. Show Answer Correct Answer: A) Within 2 years from the date on which the cause of action has arisen. 19. Additionally the Consumer Protection Act has cast a duty upon The District Collector has to inquire or investigate complaints regardingconsumer protection, unfair trade practices and false or misleading advertisements. What section of the CPA, 2019 provides the same? A) Section 26. B) Section 15. C) Section 35. D) Section 16. Show Answer Correct Answer: D) Section 16. 20. True or False. The Financial Ombudsman Service is funded by compulsory fees charged to all regulated financial institutions? A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 21. Consumer protection laws exist to help sellers make more profit. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 22. Which international body is mentioned as a comparison for the CCPA? A) Federal Trade Commission. B) International Consumer Protection Agency. C) World Trade Organization. D) European Consumer Centre. Show Answer Correct Answer: A) Federal Trade Commission. 23. Which of the following will help you protect yourself from identity theft and fraud? A) Regularly monitor your credit report. B) Contact lenders and credit bureaus to address incorrect information. C) Freeze your credit. D) All of the above. Show Answer Correct Answer: D) All of the above. 24. Which of the following is not a function of Non government organisations (NGOs)? A) Accelerating consumer awareness. B) Filing suits, complaints on behalf of consumers. C) Solving personal and marital problems of consumers. D) Collecting data on different products and testing them. Show Answer Correct Answer: C) Solving personal and marital problems of consumers. 25. How does the FDIC contribute to the stability of the financial system? A) By issuing currency. B) By insuring deposits and examining financial institutions. C) By setting interest rates. D) By providing tax incentives. Show Answer Correct Answer: B) By insuring deposits and examining financial institutions. ← 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