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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) All money spent on business deals
C) Income received by a company
D) Income received by an individual for either consumption or savings
  • 2. 2. What does the 'S' in SWOT analysis stand for
A) System
B) School
C) Strengths
D) Society
  • 3. 3. Which of these is an example of personal care necessity
A) Air conditioner
B) Diamond ring
C) Toothpaste
D) Tablet phone
  • 4. 4. What is a complaint
A) A suggestion for improvement
B) A compliment
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) Returning goods to the manufacturer
B) Setting right a wrong done to a consumer
C) Making consumers pay extra
D) Selling back goods
  • 7. 7. Which of the following is a justified complaint
A) Complaining because the product looks cheap
B) Complaining after trying all suggested solutions
C) Complaining without using the product
D) Complaining for no reason
  • 8. 8. Which of the following is an example of a business weakness
A) Emerging new markets
B) High absenteeism
C) Customer loyalty
D) Improved road networks
  • 9. 9. Which of the following is NOT a type of redress
A) Social redress
B) Administrative redress
C) Criminal redress
D) Civil redress
  • 10. 10. What is an unjustified complaint
A) Complaint with evidence
B) Complaint after use
C) Complaint with valid reason
D) Complaint with no fair basis
  • 11. 11. SWOT analysis is used to identify the following EXCEPT
A) Strengths
B) Transactions
C) Opportunities
D) Weaknesses
E) Threats
  • 12. 12. What is the first step in seeking redress
A) Call the company CEO
B) Demand for compensation instantly
C) Take the matter to court immediately
D) Report what happened as soon as possible
  • 13. 13. A verbal complaint is lodged when the complainant____
A) Meets a business representative face to face
B) Calls the manager
C) Writes a letter
D) Sends a mail
  • 14. 14. One way of lodging a complaint is by____
A) Sending a product
B) Destroying the product
C) Making a phone call
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 reduces production cost
D) It boosts the company’s public image
  • 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 sent to the chemical review committee
B) A meeting is canceled
C) The case is ignored
D) The secretariat closes the case
  • 19. 19. A new competitor opening a shop nearby is an example of a:
A) Weakness
B) Strength
C) Opportunity
D) Threat
  • 20. 20. An example of a law enforcement agency involved in consumer protection is
A) SON
B) FRSC
C) NCC
D) CPC
  • 21. 21. Why are harmful chemicals banned?
A) They are cheap
B) They are dangerous to health and the environment
C) They are used in schools
D) They are imported
  • 22. 22. Which of the following is not a weakness of a business?
A) Customer satisfaction
B) Poor marketing
C) Incompetent managers
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 for criminal cases only
C) It is used only when there is no receipt
D) It involves filing a lawsuit
  • 24. 24. Why is SWOT analysis important for businesses
A) To increase customer prices
B) To identify competition
C) To identify internal and external factors affecting business
D) To replace business goals
  • 25. 25. Which of the following is not a reason for banning chemicals?
A) They cause birth defects
B) They are flammable
C) They are corrosive
D) They increase productivity
  • 26. 26. How does providing redress reduce litigation?
A) It resolves issues easily before they get to court
B) It creates more business problems
C) It removes consumer rights
D) It increases court time
  • 27. 27. One benefit of resolving complaints is____
A) It reduces product quality
B) It wastes time
C) It increases complaints
D) It leads to improved customer loyalty
  • 28. 28. Which of the following is a strength of a business?
A) Bad customer service
B) Strong customer base
C) New government policy
D) Improved electricity supply
  • 29. 29. Which method of complaint allows instant feedback?
A) Making a phone call
B) Sending a gift
C) Writing a letter
D) Mailing a form
  • 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) Audio, large print, calls, or braille
C) Only letters
D) Only emails
  • 32. 32. What is the meaning of modesty
A) Showing off wealth
B) Borrowing often
C) Living within one’s means
D) Spending beyond income
  • 33. 33. Which of these is a reason for banning a chemical
A) It is colourful
B) It is imported
C) It causes lung cancer
D) It smells sweet
  • 34. 34. What is the main purpose of a personal budget
A) To control other people’s money
B) To take loans
C) To estimate income and expenditure
D) To increase income
  • 35. 35. A complaint must be submitted______
A) At the end of the month
B) Randomly
C) After 1 year
D) As soon as dissatisfaction is noticed
  • 36. 36. Who can a consumer forward a letter of complaint to
A) Fellow customer
B) The school teacher
C) Their friend
D) Manufacturer or distributor
  • 37. 37. A complaint is justified when___
A) All usage instructions have been followed
B) The product was never used
C) The complainant is angry
D) The user doesn’t like the color
  • 38. 38. Which of these is a source of finance
A) Not working
B) Ignoring expenses
C) Stealing
D) Personal savings
  • 39. 39. Which regulatory body handles issues with food and drugs in Nigeria
A) SON
B) CPC
C) NAFDAC
D) NUC
  • 40. 40. Which of the following is NOT a necessity of life
A) Jewellery
B) Clothing
C) Food
D) Transportation
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