JSS2 Bus stud 3rd Term Exam 2025
  • 1. 1. What is personal finance
A) All money spent on business deals
B) Income received by an individual for either consumption or savings
C) Income received by a company
D) Income received by an individual for personal or business use
  • 2. 2. What does the 'S' in SWOT analysis stand for
A) School
B) Society
C) Strengths
D) System
  • 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) A suggestion for improvement
B) A statement of satisfaction
C) An expression of dissatisfaction
D) A compliment
  • 5. 5. What does the 'T' in SWOT analysis stand for
A) Threats
B) Transaction
C) Trends
D) Transportation
  • 6. 6. What does consumer redress mean
A) Making consumers pay extra
B) Setting right a wrong done to a consumer
C) Returning goods to the manufacturer
D) Selling back goods
  • 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) Customer loyalty
D) Emerging new markets
  • 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 valid reason
B) Complaint with no fair basis
C) Complaint after use
D) Complaint with evidence
  • 11. 11. SWOT analysis is used to identify the following EXCEPT
A) Opportunities
B) Weaknesses
C) Strengths
D) Threats
E) Transactions
  • 12. 12. What is the first step in seeking redress
A) Demand for compensation instantly
B) Take the matter to court immediately
C) Report what happened as soon as possible
D) Call the company CEO
  • 13. 13. A verbal complaint is lodged when the complainant____
A) Meets a business representative face to face
B) Writes a letter
C) Sends a mail
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) Weakness
B) Opportunity
C) Threat
D) Strength
  • 16. 16. Why is providing redress important to a company?
A) It reduces production cost
B) It boosts the company’s public image
C) It increases product expiry
D) It allows price increase
  • 17. 17. What does the secretariat do after verifying complaint information?
A) Dismisses the complaint
B) Destroys the report
C) Sends a summary to PIC members
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 sent to the chemical review committee
C) The case is ignored
D) A meeting is canceled
  • 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) FRSC
B) CPC
C) SON
D) NCC
  • 21. 21. Why are harmful chemicals banned?
A) They are imported
B) They are cheap
C) They are used in schools
D) They are dangerous to health and the environment
  • 22. 22. Which of the following is not a weakness of a business?
A) Incompetent managers
B) Poor marketing
C) Substandard products
D) Customer satisfaction
  • 23. 23. Which of the following is true about administrative redress?
A) It is used only when there is no receipt
B) It can be granted without going to court
C) It is for criminal cases only
D) It involves filing a lawsuit
  • 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 are flammable
B) They cause birth defects
C) They increase productivity
D) They are corrosive
  • 26. 26. How does providing redress reduce litigation?
A) It resolves issues easily before they get to court
B) It removes consumer rights
C) It creates more business problems
D) It increases court time
  • 27. 27. One benefit of resolving complaints is____
A) It reduces product quality
B) It leads to improved customer loyalty
C) It wastes time
D) It increases complaints
  • 28. 28. Which of the following is a strength of a business?
A) Strong customer base
B) Improved electricity supply
C) Bad customer service
D) New government policy
  • 29. 29. Which method of complaint allows instant feedback?
A) Making a phone call
B) Writing a letter
C) Mailing a form
D) Sending a gift
  • 30. 30. What is scale of preference
A) A record of income only
B) Ignoring wants and needs
C) Arranging needs based on price
D) Arranging needs according to their importance
  • 31. 31. What format can complaints take?
A) Only verbal
B) Only letters
C) Audio, large print, calls, or braille
D) Only emails
  • 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 is imported
B) It smells sweet
C) It is colourful
D) It causes lung cancer
  • 34. 34. What is the main purpose of a personal budget
A) To increase income
B) To take loans
C) To estimate income and expenditure
D) To control other people’s money
  • 35. 35. A complaint must be submitted______
A) Randomly
B) After 1 year
C) At the end of the month
D) As soon as dissatisfaction is noticed
  • 36. 36. Who can a consumer forward a letter of complaint to
A) The school teacher
B) Fellow customer
C) Manufacturer or distributor
D) Their friend
  • 37. 37. A complaint is justified when___
A) The product was never used
B) The complainant is angry
C) The user doesn’t like the color
D) All usage instructions have been followed
  • 38. 38. Which of these is a source of finance
A) Stealing
B) Not working
C) Personal savings
D) Ignoring expenses
  • 39. 39. Which regulatory body handles issues with food and drugs in Nigeria
A) NAFDAC
B) SON
C) CPC
D) NUC
  • 40. 40. Which of the following is NOT a necessity of life
A) Clothing
B) Transportation
C) Food
D) Jewellery
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