OMVIC Practice Test

True or false: The CPA only protects consumers.

1. True

2. False

3. Situationally True

4. Partially True

The correct answer is: False

The statement that the CPA (Consumer Protection Act) only protects consumers is false because the Act provides benefits to both consumers and businesses. While the primary goal of the CPA is to safeguard consumers by ensuring they are treated fairly in their transactions and have access to accurate information, it also establishes a framework for fair practices within the marketplace that can benefit reputable businesses. By regulating practices and combating unfair trade, the CPA helps maintain a level playing field for businesses that follow the law, preventing unscrupulous competitors from gaining an unfair advantage. This dual focus means that while consumer protection is a key aspect of the CPA, the Act also supports ethical business practices, thereby fostering a healthier and more balanced marketplace for all parties involved.