JSS2 Bus stud 3rd Term Exam 2025
  • 1. 1. What is personal finance
A) All money spent on business deals
B) Income received by a company
C) Income received by an individual for either consumption or savings
D) Income received by an individual for personal or business use
  • 2. 2. What does the 'S' in SWOT analysis stand for
A) System
B) Strengths
C) Society
D) School
  • 3. 3. Which of these is an example of personal care necessity
A) Air conditioner
B) Toothpaste
C) Tablet phone
D) Diamond ring
  • 4. 4. What is a complaint
A) A suggestion for improvement
B) A compliment
C) An expression of dissatisfaction
D) A statement of satisfaction
  • 5. 5. What does the 'T' in SWOT analysis stand for
A) Trends
B) Transaction
C) Threats
D) Transportation
  • 6. 6. What does consumer redress mean
A) Selling back goods
B) Returning goods to the manufacturer
C) Setting right a wrong done to a consumer
D) Making consumers pay extra
  • 7. 7. Which of the following is a justified complaint
A) Complaining because the product looks cheap
B) Complaining after trying all suggested solutions
C) Complaining for no reason
D) Complaining without using the product
  • 8. 8. Which of the following is an example of a business weakness
A) Emerging new markets
B) High absenteeism
C) Improved road networks
D) Customer loyalty
  • 9. 9. Which of the following is NOT a type of redress
A) Civil redress
B) Administrative redress
C) Social redress
D) Criminal redress
  • 10. 10. What is an unjustified complaint
A) Complaint with no fair basis
B) Complaint after use
C) Complaint with evidence
D) Complaint with valid reason
  • 11. 11. SWOT analysis is used to identify the following EXCEPT
A) Strengths
B) Threats
C) Opportunities
D) Transactions
E) Weaknesses
  • 12. 12. What is the first step in seeking redress
A) Take the matter to court immediately
B) Demand for compensation instantly
C) Report what happened as soon as possible
D) Call the company CEO
  • 13. 13. A verbal complaint is lodged when the complainant____
A) Writes a letter
B) Calls the manager
C) Sends a mail
D) Meets a business representative face to face
  • 14. 14. One way of lodging a complaint is by____
A) Sending a product
B) Making a phone call
C) Sending money
D) Destroying the product
  • 15. 15. Which factor is external and helps a business achieve its goals?
A) Threat
B) Weakness
C) Strength
D) Opportunity
  • 16. 16. Why is providing redress important to a company?
A) It allows price increase
B) It boosts the company’s public image
C) It reduces production cost
D) It increases product expiry
  • 17. 17. What does the secretariat do after verifying complaint information?
A) Returns it to the complainant
B) Destroys the report
C) Dismisses the complaint
D) Sends a summary to PIC members
  • 18. 18. What happens when two countries respond to the PIC secretariat?
A) The secretariat closes the case
B) The case is sent to the chemical review committee
C) The case is ignored
D) A meeting is canceled
  • 19. 19. A new competitor opening a shop nearby is an example of a:
A) Strength
B) Weakness
C) Threat
D) Opportunity
  • 20. 20. An example of a law enforcement agency involved in consumer protection is
A) NCC
B) FRSC
C) CPC
D) SON
  • 21. 21. Why are harmful chemicals banned?
A) They are imported
B) They are dangerous to health and the environment
C) They are cheap
D) They are used in schools
  • 22. 22. Which of the following is not a weakness of a business?
A) Customer satisfaction
B) Substandard products
C) Incompetent managers
D) Poor marketing
  • 23. 23. Which of the following is true about administrative redress?
A) It is for criminal cases only
B) It is used only when there is no receipt
C) It can be granted without going to court
D) It involves filing a lawsuit
  • 24. 24. Why is SWOT analysis important for businesses
A) To increase customer prices
B) To identify competition
C) To identify internal and external factors affecting business
D) To replace business goals
  • 25. 25. Which of the following is not a reason for banning chemicals?
A) They increase productivity
B) They cause birth defects
C) They are flammable
D) They are corrosive
  • 26. 26. How does providing redress reduce litigation?
A) It creates more business problems
B) It resolves issues easily before they get to court
C) It removes consumer rights
D) It increases court time
  • 27. 27. One benefit of resolving complaints is____
A) It wastes time
B) It increases complaints
C) It reduces product quality
D) It leads to improved customer loyalty
  • 28. 28. Which of the following is a strength of a business?
A) New government policy
B) Strong customer base
C) Bad customer service
D) Improved electricity supply
  • 29. 29. Which method of complaint allows instant feedback?
A) Mailing a form
B) Sending a gift
C) Writing a letter
D) Making a phone call
  • 30. 30. What is scale of preference
A) A record of income only
B) Arranging needs based on price
C) Arranging needs according to their importance
D) Ignoring wants and needs
  • 31. 31. What format can complaints take?
A) Only emails
B) Only letters
C) Audio, large print, calls, or braille
D) Only verbal
  • 32. 32. What is the meaning of modesty
A) Borrowing often
B) Living within one’s means
C) Showing off wealth
D) Spending beyond income
  • 33. 33. Which of these is a reason for banning a chemical
A) It is colourful
B) It causes lung cancer
C) It smells sweet
D) It is imported
  • 34. 34. What is the main purpose of a personal budget
A) To increase income
B) To control other people’s money
C) To take loans
D) To estimate income and expenditure
  • 35. 35. A complaint must be submitted______
A) As soon as dissatisfaction is noticed
B) After 1 year
C) At the end of the month
D) Randomly
  • 36. 36. Who can a consumer forward a letter of complaint to
A) Fellow customer
B) Their friend
C) Manufacturer or distributor
D) The school teacher
  • 37. 37. A complaint is justified when___
A) The complainant is angry
B) The user doesn’t like the color
C) The product was never used
D) All usage instructions have been followed
  • 38. 38. Which of these is a source of finance
A) Personal savings
B) Not working
C) Ignoring expenses
D) Stealing
  • 39. 39. Which regulatory body handles issues with food and drugs in Nigeria
A) CPC
B) NUC
C) SON
D) NAFDAC
  • 40. 40. Which of the following is NOT a necessity of life
A) Transportation
B) Food
C) Clothing
D) Jewellery
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