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JSS2 Bus stud 3rd Term Exam 2025
Contributed by: College
  • 1. 1. What is personal finance
A) Income received by a company
B) Income received by an individual for either consumption or savings
C) Income received by an individual for personal or business use
D) All money spent on business deals
  • 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) Tablet phone
B) Toothpaste
C) Diamond ring
D) Air conditioner
  • 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) Transaction
B) Transportation
C) Threats
D) Trends
  • 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 without using the product
B) Complaining because the product looks cheap
C) Complaining for no reason
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) Customer loyalty
C) High absenteeism
D) Improved road networks
  • 9. 9. Which of the following is NOT a type of redress
A) Administrative redress
B) Civil redress
C) Social redress
D) Criminal 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) Threats
D) Opportunities
E) Weaknesses
  • 12. 12. What is the first step in seeking redress
A) Call the company CEO
B) Report what happened as soon as possible
C) Demand for compensation instantly
D) Take the matter to court immediately
  • 13. 13. A verbal complaint is lodged when the complainant____
A) Meets a business representative face to face
B) Sends a mail
C) Calls the manager
D) Writes a letter
  • 14. 14. One way of lodging a complaint is by____
A) Destroying the product
B) Sending money
C) Sending a product
D) Making a phone call
  • 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 boosts the company’s public image
B) It reduces production cost
C) It allows price increase
D) It increases product expiry
  • 17. 17. What does the secretariat do after verifying complaint information?
A) Destroys the report
B) Returns it to the complainant
C) Sends a summary to PIC members
D) Dismisses the complaint
  • 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) Threat
B) Strength
C) Weakness
D) Opportunity
  • 20. 20. An example of a law enforcement agency involved in consumer protection is
A) FRSC
B) NCC
C) CPC
D) SON
  • 21. 21. Why are harmful chemicals banned?
A) They are imported
B) They are cheap
C) They are dangerous to health and the environment
D) They are used in schools
  • 22. 22. Which of the following is not a weakness of a business?
A) Poor marketing
B) Customer satisfaction
C) Substandard products
D) Incompetent managers
  • 23. 23. Which of the following is true about administrative redress?
A) It is for criminal cases only
B) It is used only when there is no receipt
C) It can be granted without going to court
D) It involves filing a lawsuit
  • 24. 24. Why is SWOT analysis important for businesses
A) To identify competition
B) To increase customer prices
C) To replace business goals
D) To identify internal and external factors affecting business
  • 25. 25. Which of the following is not a reason for banning chemicals?
A) They are corrosive
B) They are flammable
C) They increase productivity
D) They cause birth defects
  • 26. 26. How does providing redress reduce litigation?
A) It creates more business problems
B) It increases court time
C) It removes consumer rights
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 wastes time
D) It reduces product quality
  • 28. 28. Which of the following is a strength of a business?
A) Strong customer base
B) Bad customer service
C) Improved electricity supply
D) New government policy
  • 29. 29. Which method of complaint allows instant feedback?
A) Writing a letter
B) Sending a gift
C) Making a phone call
D) Mailing a form
  • 30. 30. What is scale of preference
A) Arranging needs based on price
B) Arranging needs according to their importance
C) Ignoring wants and needs
D) A record of income only
  • 31. 31. What format can complaints take?
A) Only emails
B) Audio, large print, calls, or braille
C) Only verbal
D) Only letters
  • 32. 32. What is the meaning of modesty
A) Spending beyond income
B) Borrowing often
C) Living within one’s means
D) Showing off wealth
  • 33. 33. Which of these is a reason for banning a chemical
A) It is imported
B) It smells sweet
C) It is colourful
D) It causes lung cancer
  • 34. 34. What is the main purpose of a personal budget
A) To increase income
B) To estimate income and expenditure
C) To control other people’s money
D) To take loans
  • 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) Their friend
B) The school teacher
C) Fellow customer
D) Manufacturer or distributor
  • 37. 37. A complaint is justified when___
A) All usage instructions have been followed
B) The complainant is angry
C) The product was never used
D) The user doesn’t like the color
  • 38. 38. Which of these is a source of finance
A) Personal savings
B) Stealing
C) Ignoring expenses
D) Not working
  • 39. 39. Which regulatory body handles issues with food and drugs in Nigeria
A) NAFDAC
B) CPC
C) SON
D) NUC
  • 40. 40. Which of the following is NOT a necessity of life
A) Transportation
B) Clothing
C) Jewellery
D) Food
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