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