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