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