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 either consumption or savings
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) Society
B) School
C) System
D) Strengths
  • 3. 3. Which of these is an example of personal care necessity
A) Toothpaste
B) Air conditioner
C) Diamond ring
D) Tablet phone
  • 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) Trends
B) Transportation
C) Threats
D) Transaction
  • 6. 6. What does consumer redress mean
A) Selling back goods
B) Making consumers pay extra
C) Setting right a wrong done to a consumer
D) Returning goods to the manufacturer
  • 7. 7. Which of the following is a justified complaint
A) Complaining without using the product
B) Complaining after trying all suggested solutions
C) Complaining because the product looks cheap
D) Complaining for no reason
  • 8. 8. Which of the following is an example of a business weakness
A) Customer loyalty
B) Emerging new markets
C) Improved road networks
D) High absenteeism
  • 9. 9. Which of the following is NOT a type of redress
A) Social redress
B) Civil redress
C) Administrative redress
D) Criminal redress
  • 10. 10. What is an unjustified complaint
A) Complaint after use
B) Complaint with valid reason
C) Complaint with no fair basis
D) Complaint with evidence
  • 11. 11. SWOT analysis is used to identify the following EXCEPT
A) Transactions
B) Strengths
C) Threats
D) Weaknesses
E) Opportunities
  • 12. 12. What is the first step in seeking redress
A) Take the matter to court immediately
B) Call the company CEO
C) Report what happened as soon as possible
D) Demand for compensation instantly
  • 13. 13. A verbal complaint is lodged when the complainant____
A) Meets a business representative face to face
B) Sends a mail
C) Writes a letter
D) Calls the manager
  • 14. 14. One way of lodging a complaint is by____
A) Sending money
B) Sending a product
C) Making a phone call
D) Destroying the product
  • 15. 15. Which factor is external and helps a business achieve its goals?
A) Threat
B) Weakness
C) Strength
D) Opportunity
  • 16. 16. Why is providing redress important to a company?
A) It boosts the company’s public image
B) It increases product expiry
C) It reduces production cost
D) It allows price increase
  • 17. 17. What does the secretariat do after verifying complaint information?
A) Sends a summary to PIC members
B) Destroys the report
C) Dismisses the complaint
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) Strength
C) Weakness
D) Opportunity
  • 20. 20. An example of a law enforcement agency involved in consumer protection is
A) CPC
B) SON
C) NCC
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 imported
D) They are used in schools
  • 22. 22. Which of the following is not a weakness of a business?
A) Incompetent managers
B) Poor marketing
C) Customer satisfaction
D) Substandard products
  • 23. 23. Which of the following is true about administrative redress?
A) It can be granted without going to court
B) It is used only when there is no receipt
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 are corrosive
D) They increase productivity
  • 26. 26. How does providing redress reduce litigation?
A) It creates more business problems
B) It resolves issues easily before they get to court
C) It removes consumer rights
D) It increases court time
  • 27. 27. One benefit of resolving complaints is____
A) It wastes time
B) It leads to improved customer loyalty
C) It increases complaints
D) It reduces product quality
  • 28. 28. Which of the following is a strength of a business?
A) New government policy
B) Bad customer service
C) Improved electricity supply
D) Strong customer base
  • 29. 29. Which method of complaint allows instant feedback?
A) Writing a letter
B) Sending a gift
C) Making a phone call
D) Mailing a form
  • 30. 30. What is scale of preference
A) Ignoring wants and needs
B) Arranging needs according to their importance
C) Arranging needs based on price
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) Showing off wealth
C) Spending beyond income
D) Living within one’s means
  • 33. 33. Which of these is a reason for banning a chemical
A) It smells sweet
B) It is colourful
C) It is imported
D) It causes lung cancer
  • 34. 34. What is the main purpose of a personal budget
A) To control other people’s money
B) To increase income
C) To take loans
D) To estimate income and expenditure
  • 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) Manufacturer or distributor
B) Fellow customer
C) The school teacher
D) Their friend
  • 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) Ignoring expenses
B) Personal savings
C) Stealing
D) Not working
  • 39. 39. Which regulatory body handles issues with food and drugs in Nigeria
A) CPC
B) SON
C) NAFDAC
D) NUC
  • 40. 40. Which of the following is NOT a necessity of life
A) Clothing
B) Jewellery
C) Food
D) Transportation
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