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