JSS2 Bus stud 3rd Term Exam 2025
  • 1. 1. What is personal finance
A) Income received by a company
B) Income received by an individual for personal or business use
C) Income received by an individual for either consumption or savings
D) All money spent on business deals
  • 2. 2. What does the 'S' in SWOT analysis stand for
A) Strengths
B) Society
C) System
D) School
  • 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) A compliment
B) A suggestion for improvement
C) An expression of dissatisfaction
D) A statement of satisfaction
  • 5. 5. What does the 'T' in SWOT analysis stand for
A) Transportation
B) Transaction
C) Trends
D) Threats
  • 6. 6. What does consumer redress mean
A) Selling back goods
B) Making consumers pay extra
C) Returning goods to the manufacturer
D) Setting right a wrong done to a consumer
  • 7. 7. Which of the following is a justified complaint
A) Complaining for no reason
B) Complaining because the product looks cheap
C) Complaining after trying all suggested solutions
D) Complaining without using the product
  • 8. 8. Which of the following is an example of a business weakness
A) Emerging new markets
B) Improved road networks
C) High absenteeism
D) Customer loyalty
  • 9. 9. Which of the following is NOT a type of redress
A) Criminal redress
B) Civil redress
C) Social redress
D) Administrative redress
  • 10. 10. What is an unjustified complaint
A) Complaint with evidence
B) Complaint with no fair basis
C) Complaint with valid reason
D) Complaint after use
  • 11. 11. SWOT analysis is used to identify the following EXCEPT
A) Weaknesses
B) Opportunities
C) Transactions
D) Threats
E) Strengths
  • 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) Demand for compensation instantly
D) Call the company CEO
  • 13. 13. A verbal complaint is lodged when the complainant____
A) Meets a business representative face to face
B) Calls the manager
C) Writes a letter
D) Sends a mail
  • 14. 14. One way of lodging a complaint is by____
A) Making a phone call
B) Sending a product
C) Sending money
D) Destroying the product
  • 15. 15. Which factor is external and helps a business achieve its goals?
A) Opportunity
B) Strength
C) Threat
D) Weakness
  • 16. 16. Why is providing redress important to a company?
A) It reduces production cost
B) It allows price increase
C) It increases product expiry
D) It boosts the company’s public image
  • 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 secretariat closes the case
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) Threat
B) Weakness
C) Opportunity
D) Strength
  • 20. 20. An example of a law enforcement agency involved in consumer protection is
A) FRSC
B) CPC
C) NCC
D) SON
  • 21. 21. Why are harmful chemicals banned?
A) They are used in schools
B) They are imported
C) They are dangerous to health and the environment
D) They are cheap
  • 22. 22. Which of the following is not a weakness of a business?
A) Substandard products
B) Customer satisfaction
C) Poor marketing
D) Incompetent managers
  • 23. 23. Which of the following is true about administrative redress?
A) It can be granted without going to court
B) It involves filing a lawsuit
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 competition
C) To increase customer prices
D) To identify internal and external factors affecting business
  • 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 corrosive
D) They are flammable
  • 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 creates more business problems
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 increases complaints
D) It wastes time
  • 28. 28. Which of the following is a strength of a business?
A) New government policy
B) Strong customer base
C) Improved electricity supply
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) Audio, large print, calls, or braille
B) Only verbal
C) Only emails
D) Only letters
  • 32. 32. What is the meaning of modesty
A) Spending beyond income
B) Showing off wealth
C) Living within one’s means
D) Borrowing often
  • 33. 33. Which of these is a reason for banning a chemical
A) It is imported
B) It causes lung cancer
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 take loans
D) To increase income
  • 35. 35. A complaint must be submitted______
A) At the end of the month
B) As soon as dissatisfaction is noticed
C) Randomly
D) After 1 year
  • 36. 36. Who can a consumer forward a letter of complaint to
A) Fellow customer
B) Manufacturer or distributor
C) The school teacher
D) Their friend
  • 37. 37. A complaint is justified when___
A) All usage instructions have been followed
B) The product was never used
C) The complainant is angry
D) The user doesn’t like the color
  • 38. 38. Which of these is a source of finance
A) Stealing
B) Ignoring expenses
C) Personal savings
D) Not working
  • 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) Transportation
D) Clothing
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