Consumer Awareness MCQs

  1. Which of the following is an example of a consumer right?
  2. Right to fair treatment
    Right to unlimited credit
    Right to free products
  3. Which government agency is responsible for protecting consumers' interests in the United States?
  4. Central Intelligence Agency (CIA)
    Federal Bureau of Investigation (FBI)
    Federal Trade Commission (FTC)
  5. What is the purpose of a product warranty?
  6. To guarantee the quality of the product
    To protect the seller from legal action
    To limit the consumer's rights
  7. Which of the following is an example of false advertising?
  8. Exaggerating the benefits of a product
    Providing accurate information about a product
    Offering discounts on a product
  9. What is the purpose of the Better Business Bureau (BBB)?
  10. To conduct market research on consumer behavior
    To promote fair business practices and resolve disputes
    To provide consumers with financial assistance
  11. Which of the following actions can help protect consumers from identity theft?
  12. Using the same password for multiple online accounts
    Sharing personal information on social media
    Keeping personal information confidential
  13. Which type of insurance protects consumers from financial loss due to damage or theft of their property?
  14. Life insurance
    Home insurance
    Health insurance
  15. What does the "expiration date" on a food product indicate?
  16. The date on which the product was manufactured
    The date when the product will be discounted
    The date after which the product is no longer safe to consume
  17. Which government agency oversees the safety of food and drugs in the United States?
  18. Food and Drug Administration (FDA)
    Federal Communications Commission (FCC)
    Environmental Protection Agency (EPA)
  19. Which of the following is a red flag indicating a potential scam?
  20. A company promising high returns with low risk
    A company asking for payment via secure methods
    A company providing a physical address and contact information
  21. What is the purpose of reading product reviews before making a purchase?
  22. To waste time and gather irrelevant information
    To assess the quality and reliability of the product
    To compare prices of different products
  23. Which agency regulates and enforces consumer protection laws in the European Union?
  24. European Consumer Centre (ECC)
    Federal Reserve System (FRS)
    European Central Bank (ECB)
  25. Which of the following is a responsible consumer behavior?
  26. Ignoring product labels and warnings
    Making impulsive purchases without considering the budget
    Regularly reviewing bank statements and credit card bills
  27. Which organization provides free annual credit reports to consumers in the United States?
  28. Consumer Financial Protection Bureau (CFPB)
    Federal Reserve System (FRS)
  29. Which of the following is an example of a pyramid scheme?
  30. Promising high returns for recruiting new members without a tangible product or service
    Participating in a legitimate multi-level marketing company
    Investing in a diversified mutual fund