JSS2 Bus stud 3rd Term Exam 2025
  • 1. 1. What is personal finance
A) Income received by a company
B) All money spent on business deals
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) School
D) Society
  • 3. 3. Which of these is an example of personal care necessity
A) Air conditioner
B) Toothpaste
C) Diamond ring
D) Tablet phone
  • 4. 4. What is a complaint
A) A suggestion for improvement
B) An expression of dissatisfaction
C) A compliment
D) A statement of satisfaction
  • 5. 5. What does the 'T' in SWOT analysis stand for
A) Transaction
B) Transportation
C) Threats
D) Trends
  • 6. 6. What does consumer redress mean
A) Selling back goods
B) Returning goods to the manufacturer
C) Making consumers pay extra
D) Setting right a wrong done to a consumer
  • 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 for no reason
D) Complaining without using the product
  • 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) Criminal redress
B) Social redress
C) Administrative redress
D) Civil 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) Transactions
B) Threats
C) Strengths
D) Weaknesses
E) Opportunities
  • 12. 12. What is the first step in seeking redress
A) Take the matter to court immediately
B) Report what happened as soon as possible
C) Call the company CEO
D) Demand for compensation instantly
  • 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 a product
B) Sending money
C) Making a phone call
D) Destroying the product
  • 15. 15. Which factor is external and helps a business achieve its goals?
A) Strength
B) Threat
C) Weakness
D) Opportunity
  • 16. 16. Why is providing redress important to a company?
A) It increases product expiry
B) It allows price increase
C) It boosts the company’s public image
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) 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) Opportunity
B) Strength
C) Weakness
D) Threat
  • 20. 20. An example of a law enforcement agency involved in consumer protection is
A) NCC
B) SON
C) FRSC
D) CPC
  • 21. 21. Why are harmful chemicals banned?
A) They are used in schools
B) They are cheap
C) They are dangerous to health and the environment
D) They are imported
  • 22. 22. Which of the following is not a weakness of a business?
A) Customer satisfaction
B) Poor marketing
C) Incompetent managers
D) Substandard products
  • 23. 23. Which of the following is true about administrative redress?
A) It is used only when there is no receipt
B) It involves filing a lawsuit
C) It is for criminal cases only
D) It can be granted without going to court
  • 24. 24. Why is SWOT analysis important for businesses
A) To identify competition
B) To increase customer prices
C) To replace business goals
D) To identify internal and external factors affecting business
  • 25. 25. Which of the following is not a reason for banning chemicals?
A) They are corrosive
B) They cause birth defects
C) They are flammable
D) They increase productivity
  • 26. 26. How does providing redress reduce litigation?
A) It removes consumer rights
B) It increases court time
C) It creates more business problems
D) It resolves issues easily before they get to court
  • 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) New government policy
B) Improved electricity supply
C) Bad customer service
D) Strong customer base
  • 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) Ignoring wants and needs
B) Arranging needs based on price
C) Arranging needs according to their importance
D) A record of income only
  • 31. 31. What format can complaints take?
A) Audio, large print, calls, or braille
B) Only letters
C) Only emails
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 smells sweet
C) It is colourful
D) It is imported
  • 34. 34. What is the main purpose of a personal budget
A) To estimate income and expenditure
B) To take loans
C) To increase income
D) To control other people’s money
  • 35. 35. A complaint must be submitted______
A) At the end of the month
B) As soon as dissatisfaction is noticed
C) After 1 year
D) Randomly
  • 36. 36. Who can a consumer forward a letter of complaint to
A) Manufacturer or distributor
B) Their friend
C) Fellow customer
D) The school teacher
  • 37. 37. A complaint is justified when___
A) The complainant is angry
B) All usage instructions have been followed
C) The user doesn’t like the color
D) The product was never used
  • 38. 38. Which of these is a source of finance
A) Stealing
B) Personal savings
C) Not working
D) Ignoring expenses
  • 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) Clothing
D) Food
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