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JSS2 Bus stud 3rd Term Exam 2025
Contributed by: College
  • 1. 1. What is personal finance
A) Income received by an individual for personal or business use
B) Income received by an individual for either consumption or savings
C) All money spent on business deals
D) Income received by a company
  • 2. 2. What does the 'S' in SWOT analysis stand for
A) Strengths
B) School
C) System
D) Society
  • 3. 3. Which of these is an example of personal care necessity
A) Air conditioner
B) Toothpaste
C) Diamond ring
D) Tablet phone
  • 4. 4. What is a complaint
A) A compliment
B) An expression of dissatisfaction
C) A statement of satisfaction
D) A suggestion for improvement
  • 5. 5. What does the 'T' in SWOT analysis stand for
A) Transaction
B) Transportation
C) Trends
D) Threats
  • 6. 6. What does consumer redress mean
A) Returning goods to the manufacturer
B) Setting right a wrong done to a consumer
C) Selling back goods
D) Making consumers pay extra
  • 7. 7. Which of the following is a justified complaint
A) Complaining after trying all suggested solutions
B) Complaining because the product looks cheap
C) Complaining for no reason
D) Complaining without using the product
  • 8. 8. Which of the following is an example of a business weakness
A) High absenteeism
B) Improved road networks
C) Emerging new markets
D) Customer loyalty
  • 9. 9. Which of the following is NOT a type of redress
A) Civil redress
B) Social redress
C) Administrative redress
D) Criminal 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) Transactions
B) Weaknesses
C) Threats
D) Strengths
E) Opportunities
  • 12. 12. What is the first step in seeking redress
A) Report what happened as soon as possible
B) Take the matter to court immediately
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) Sends a mail
C) Writes a letter
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 a product
D) Sending money
  • 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 allows price increase
B) It increases product expiry
C) It boosts the company’s public image
D) It reduces production cost
  • 17. 17. What does the secretariat do after verifying complaint information?
A) Dismisses the complaint
B) Destroys the report
C) Returns it to the complainant
D) Sends a summary to PIC members
  • 18. 18. What happens when two countries respond to the PIC secretariat?
A) The case is sent to the chemical review committee
B) The secretariat closes the case
C) A meeting is canceled
D) The case is ignored
  • 19. 19. A new competitor opening a shop nearby is an example of a:
A) Opportunity
B) Weakness
C) Threat
D) Strength
  • 20. 20. An example of a law enforcement agency involved in consumer protection is
A) CPC
B) NCC
C) FRSC
D) SON
  • 21. 21. Why are harmful chemicals banned?
A) They are dangerous to health and the environment
B) They are cheap
C) They are used in schools
D) They are imported
  • 22. 22. Which of the following is not a weakness of a business?
A) Poor marketing
B) Incompetent managers
C) Substandard products
D) Customer satisfaction
  • 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 internal and external factors affecting business
C) To increase customer prices
D) To identify competition
  • 25. 25. Which of the following is not a reason for banning chemicals?
A) They cause birth defects
B) They are corrosive
C) They are flammable
D) They increase productivity
  • 26. 26. How does providing redress reduce litigation?
A) It increases court time
B) It removes consumer rights
C) It creates more business problems
D) It resolves issues easily before they get to court
  • 27. 27. One benefit of resolving complaints is____
A) It leads to improved customer loyalty
B) It increases complaints
C) It reduces product quality
D) It wastes time
  • 28. 28. Which of the following is a strength of a business?
A) Improved electricity supply
B) New government policy
C) Strong customer base
D) Bad customer service
  • 29. 29. Which method of complaint allows instant feedback?
A) Writing a letter
B) Sending a gift
C) Mailing a form
D) Making a phone call
  • 30. 30. What is scale of preference
A) Arranging needs according to their importance
B) Arranging needs based on price
C) A record of income only
D) Ignoring wants and needs
  • 31. 31. What format can complaints take?
A) Only verbal
B) Only emails
C) Audio, large print, calls, or braille
D) Only letters
  • 32. 32. What is the meaning of modesty
A) Showing off wealth
B) Spending beyond income
C) Living within one’s means
D) Borrowing often
  • 33. 33. Which of these is a reason for banning a chemical
A) It smells sweet
B) It is imported
C) It causes lung cancer
D) It is colourful
  • 34. 34. What is the main purpose of a personal budget
A) To control other people’s money
B) To take loans
C) To increase income
D) To estimate income and expenditure
  • 35. 35. A complaint must be submitted______
A) After 1 year
B) Randomly
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) Manufacturer or distributor
B) Fellow customer
C) The school teacher
D) Their friend
  • 37. 37. A complaint is justified when___
A) All usage instructions have been followed
B) The user doesn’t like the color
C) The complainant is angry
D) The product was never used
  • 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) NUC
B) NAFDAC
C) SON
D) CPC
  • 40. 40. Which of the following is NOT a necessity of life
A) Clothing
B) Jewellery
C) Food
D) Transportation
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