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JSS2 Bus stud 3rd Term Exam 2025
Contributed by: College
  • 1. 1. What is personal finance
A) All money spent on business deals
B) Income received by an individual for personal or business use
C) Income received by an individual for either consumption or savings
D) Income received by a company
  • 2. 2. What does the 'S' in SWOT analysis stand for
A) System
B) Society
C) School
D) Strengths
  • 3. 3. Which of these is an example of personal care necessity
A) Air conditioner
B) Diamond ring
C) Tablet phone
D) Toothpaste
  • 4. 4. What is a complaint
A) A suggestion for improvement
B) An expression of dissatisfaction
C) A statement of satisfaction
D) A compliment
  • 5. 5. What does the 'T' in SWOT analysis stand for
A) Transportation
B) Transaction
C) Threats
D) Trends
  • 6. 6. What does consumer redress mean
A) Setting right a wrong done to a consumer
B) Returning goods to the manufacturer
C) Making consumers pay extra
D) Selling back goods
  • 7. 7. Which of the following is a justified complaint
A) Complaining for no reason
B) Complaining because the product looks cheap
C) Complaining without using the product
D) Complaining after trying all suggested solutions
  • 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) Administrative redress
B) Civil redress
C) Criminal redress
D) Social redress
  • 10. 10. What is an unjustified complaint
A) Complaint with no fair basis
B) Complaint with valid reason
C) Complaint after use
D) Complaint with evidence
  • 11. 11. SWOT analysis is used to identify the following EXCEPT
A) Transactions
B) Threats
C) Strengths
D) Opportunities
E) Weaknesses
  • 12. 12. What is the first step in seeking redress
A) Take the matter to court immediately
B) Report what happened as soon as possible
C) Call the company CEO
D) Demand for compensation instantly
  • 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 money
B) Making a phone call
C) Sending a product
D) Destroying the product
  • 15. 15. Which factor is external and helps a business achieve its goals?
A) Threat
B) Strength
C) Opportunity
D) Weakness
  • 16. 16. Why is providing redress important to a company?
A) It allows price increase
B) It boosts the company’s public image
C) It increases product expiry
D) It reduces production cost
  • 17. 17. What does the secretariat do after verifying complaint information?
A) Dismisses the complaint
B) Returns it to the complainant
C) Sends a summary to PIC members
D) Destroys the report
  • 18. 18. What happens when two countries respond to the PIC secretariat?
A) A meeting is canceled
B) The case is sent to the chemical review committee
C) The secretariat closes the case
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) NCC
B) SON
C) CPC
D) FRSC
  • 21. 21. Why are harmful chemicals banned?
A) They are dangerous to health and the environment
B) They are cheap
C) They are imported
D) They are used in schools
  • 22. 22. Which of the following is not a weakness of a business?
A) Customer satisfaction
B) Substandard products
C) Incompetent managers
D) Poor marketing
  • 23. 23. Which of the following is true about administrative redress?
A) It involves filing a lawsuit
B) It is for criminal cases only
C) It can be granted without going to court
D) It is used only when there is no receipt
  • 24. 24. Why is SWOT analysis important for businesses
A) To increase customer prices
B) To identify internal and external factors affecting business
C) To identify competition
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 increase productivity
C) They are flammable
D) They are corrosive
  • 26. 26. How does providing redress reduce litigation?
A) It resolves issues easily before they get to court
B) It removes consumer rights
C) It increases court time
D) It creates more business problems
  • 27. 27. One benefit of resolving complaints is____
A) It increases complaints
B) It wastes time
C) It reduces product quality
D) It leads to improved customer loyalty
  • 28. 28. Which of the following is a strength of a business?
A) Strong customer base
B) New government policy
C) Improved electricity supply
D) Bad customer service
  • 29. 29. Which method of complaint allows instant feedback?
A) Making a phone call
B) Writing a letter
C) Mailing a form
D) Sending a gift
  • 30. 30. What is scale of preference
A) Arranging needs according to their importance
B) A record of income only
C) Arranging needs based on price
D) Ignoring wants and needs
  • 31. 31. What format can complaints take?
A) Only verbal
B) Only letters
C) Only emails
D) Audio, large print, calls, or braille
  • 32. 32. What is the meaning of modesty
A) Living within one’s means
B) Borrowing often
C) Showing off wealth
D) Spending beyond income
  • 33. 33. Which of these is a reason for banning a chemical
A) It causes lung cancer
B) It smells sweet
C) It is imported
D) It is colourful
  • 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) After 1 year
B) As soon as dissatisfaction is noticed
C) At the end of the month
D) Randomly
  • 36. 36. Who can a consumer forward a letter of complaint to
A) The school teacher
B) Their friend
C) Fellow customer
D) Manufacturer or distributor
  • 37. 37. A complaint is justified when___
A) The user doesn’t like the color
B) All usage instructions have been followed
C) The product was never used
D) The complainant is angry
  • 38. 38. Which of these is a source of finance
A) Ignoring expenses
B) Not working
C) Personal savings
D) Stealing
  • 39. 39. Which regulatory body handles issues with food and drugs in Nigeria
A) SON
B) NUC
C) CPC
D) NAFDAC
  • 40. 40. Which of the following is NOT a necessity of life
A) Transportation
B) Food
C) Clothing
D) Jewellery
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