AIC JSS 2 3rd Term Business Studies Exam 2022/23
  • 1. 1. The apex bank in Nigeria is called
A) The First Bank of Nigeria
B) The Center Bank of Nigeria
C) The Central Bank of Nigeria
D) The Century Bank of Nigeria
  • 2. 2. Which of the following bank regulates the money market?
A) The CIBN
B) NAPTIP
C) The CBN
D) SEC
  • 3. 3. The First Bank of Nigeria is an example of ____________
A) savings bank
B) commercial bank
C) merchant bank
D) mortgage bank
  • 4. 4. Which of the following regulates the capital market?
A) The CBN
B) GTB
C) The SEC
D) The CIBN
  • 5. 5. E-commerce means
A) Election Commerce
B) Electronic
C) Electronic Commerce
D) Electronic consumption
  • 6. 6. E-retailing is sometimes used for ______________
A) e-- uber
B) e- pay
C) e- commerce
D) e--bay
  • 7. 7. The aim or purpose of doing business is to make __________
A) loss
B) fun sake
C) charitable purpose
D) profit
  • 8. 8. Commerce is subdivided into __________
A) three
B) four
C) five
D) two
  • 9. 9. ATM means
A) Automated Teller Machine
B) Automatic Toll machone
C) None of the above
D) Automatic Telling Machine
  • 10. 10. Capital markets are of _________ major types.
A) three
B) six
C) two
D) seven
  • 11. 11. The primary market is where __________ are created.
A) securities
B) goods
C) second hand
D) money
  • 12. 12. Examples of financial securities are following except
A) stock
B) shares
C) money
D) bond
  • 13. 13. ____________ serves as a link between savers and investors.
A) capital market
B) commodity market
C) money market
D) labour market
  • 14. 14. The secondary market is also known as
A) Agbara Market
B) market
C) store
D) aftermarket
  • 15. 15 The SEC means
A) The Securities and Exchange Commission
B) The Security and Exchange Commission
C) The Specimen and Exchange Corporation
D) The Standard and Exchange Commission
  • 16. 16. Money market is for short-- term loans.
A) False
B) I've not been taught
C) I don't known
D) True
  • 17. 17. ____________ supplies money for working capital requirements.
A) capital market
B) Money market
C) market
D) Oshodi market
  • 18. 18. ___________ supplies funds for fixed capital requirements.
A) Capital market
B) money market
C) common market
D) labour market
  • 19. 19. ___________ involves lending and borrowing for long term finance
A) Capital market
B) Commodity market
C) Money market
D) Common market
  • 20. 20. A retailer bought 10 refrigerators at #60,000 each with 5% discount allowed, calculate the discount allowed.
A) #30,000
B) #60,000
C) #45,000
D) #3,000
  • 21. 21. A retailer bought 10 refrigerators at #60,000 each with 5% discount allowed by seller. Calculate the amount payable by the retailer.
A) #600,000
B) #60,000
C) #30,000
D) #570,000
  • 22. 22. _____________ are traded in capital market.
A) Financial securities
B) Currencies
C) Papers
D) Financial monies
  • 23. 23. Production is not complete until goods produced get to the _______________.
A) consumer
B) retailer
C) wholesaler
D) supplier
  • 24. 24. ___________ means the number of times a retailer replenishes stock.
A) Turnover
B) Mark up
C) Gross profit
D) Cost of goods sold
  • 25. 25. ______________ is the difference between the cost of goods and the profit of doing business.
A) Overhead cost
B) Profit
C) Make up
D) Mark up
  • 26. 26. ____________ are the expenses incurred when doing business.
A) Average costs
B) Overhand costs
C) Overhead costs
D) Marginal costs
  • 27. 27. Gross profit is total sales less ___________
A) total amount
B) total sales
C) total costs
D) total revenue
  • 28. 28. What must be deducted from gross profit to arrive at net profit?
A) Purchases
B) Overhead costs
C) Return inwards
D) Sales
  • 29. 29. The acquisition of goods for sale is known as _______________.
A) profiting
B) None of the above
C) Selling
D) purchasing
  • 30. 30. _____________ is the amount of money added to the cost of goods as profit.
A) Make up
B) Sales
C) Mark up
D) Discount allowed
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