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Business Studies Second Examination 2021/2022 Academic Session

Total questions: 50

Worksheet time: 40mins

Name
Class
Date
1.

Which of the following is not among banking services?

a)

Granting of loans 

b)

Issuing raveller’s Cheque   

c)

Banker’ draft

d)

Keeping valuables

2.

Which of the following is not an ethical issue in the banking sector?

a)

Confidentiality

b)

Integrity 

c)

Non-transparency

d)

Transparency

3.

Which of the following is the correct full form of ATM?

a)

Automatic Take Machine

b)

Any Time Machine

c)

Automated Teller Machine

d)

None of these

4.

The person or firm who gets compensation is called:

a)

Insurer

b)

Insured

c)

Premium

d)

Happening of an event

5.

In which of the following account highest rate of interest is given :

a)

Saving account

b)

Current account

c)

Recurring account

d)

Fixed deposit account

6.

Which of the following services of bank permits withdrawal of money more than the balance in the account?

a)

Bank draft

b)

Overdraft

c)

Banker's cheque

d)

Fixed deposit

7.

A country wide system through which person can electronically transfer from one bank branch to another person having an account with the other bank branch in the country is known as

a)

Pay order

b)

RTGS

c)

Bank draft

d)

NEFT

8.

A contract by which the insurer, in consideration of a certain amount known as premium, undertakes to pay to a person or his heirs a certain amount of money on his death or on attaining a certain age is known as

a)

General insurance

b)

Life insurance

c)

Special insurance

d)

Burglary insurance

9.

Name the central bank of our country

a)

CBN

b)

SBI

c)

FBI

d)

IDBI

10.

Which institute is called a debtor as well as a creditor?

a)

LIC

b)

GIC

c)

Bank

d)

Post office

11.

When banks allow customers to draw more money than he has in his bank account, this is called____

a)

loan

b)

cash

c)

overdraft

d)

debt

12.

____are public limited liability companies that are in the business of providing financial services to consumers and businesses

a)

Market

b)

Bank

c)

Industry

d)

School

13.

The document which contains a written order to a bank to pay a stated sum of money to a named person is called ______

a)

book

b)

slip

c)

cheque

d)

money

14.

Which of the following is the purpose of insurance?

a)

To make profit

b)

To make good the loss suffered

c)

To collect premium

d)

To avoid loss

15.

One of the insurance policy is not for motor vehicle

a)

third party

b)

marine

c)

comprehensive

d)

theft

16.

All the risks stated below are not insurable except (a)storm(b) earthquake(c) gambling (d) thefts

a)

thefts

b)

storm

c)

earthquake

d)

gambling

17.

What is the sum of money paid by the insured to the insurance company called?

a)

Discount

b)

Commission

c)

Premium

d)

Dividend

18.

A _____ is a place for selling raw materials and finished goods (a)  Market square       (b)  Free Market   (c)  Commodity market

a)

Market square 

b)

Free market 

c)

Commodity market

d)

Money market

19.

A method of buying in which goods are sold to the buyer who offers the highest price (highest bidder) is called    

a)

sampling 

b)

description

c)

auction

d)

inspection

20.

Retailer B bought the following items for sale:

200 bags of rice at N6,000 each

250 tins of cooking oil at N2,500 each

10 gas cooker at N60,000 each with 60% discount allowed by the seller.

 Determine the amount to be paid by the Retailer

 

a)

N2,065,000

b)

N240,000

c)

N600,000

d)

N1,200.000

21.

Which of the following is not a type of insurance?

a)

Vehicle accident insurance

b)

Life assurance

c)

Marine insurance

d)

Public insurance

22.

Marine insurance involves _________

a)

insurance to cover goods and houses

b)

insurance to

       cover goods and business

c)

insurance to cover goods and ship

d)

insurance to cover ship and waters

23.

Insurance can be taken out on all but one of the following

a)

vehicle

b)

house

c)

business

d)

income

24.

_______ is also known as a caller.

a)

Visitor

b)

Customer

c)

Receptionist

d)

Boss

25.

All are personal qualities of an entrepreneur except _____

a)

selfish

b)

determined

c)

disciplined

d)

focus

26.

______ is the mail received in and sent out of an organization.

a)

Journal

b)

News book

c)

Correspondence

d)

Dispatch book

27.

______ is the identification of the need of people in which an entrepreneur can invest for profit making.

a)

Business mindedness

b)

Business passion

c)

Business discipline

d)

Business opportunity

28.

Which of the following pairs are the major duties of a receptionist?

a)

Gossiping and receiving callers

b)

Handling the telephone and posting letters

c)

Receiving callers and handling the

         telephone

d)

Smiling and conversing with visitors

29.

______ is a market where long term loans are traded.

a)

money market

b)

capital market

c)

commodity market

d)

financial market

30.

_______ is the final link in channel of distribution.

a)

Market

b)

Consumer

c)

Producer

d)

Retailer

31.

A trader who carries his goods from place to place is called _______.

 

a)

a trader

b)

a carrier

c)

an hawker

d)

a seller

32.

_________ is a branch of commerce that covers business risk.

a)

banking

b)

insurance

c)

finance

d)

marketing

33.

An ambassador of an organization from whom the visitor gets his first impression is called _____

         

a)

clerical officer

b)

receptionist

c)

author

d)

clerk

34.

In a business organization, who is a risk bearer?

a)

coordinator

b)

entrepreneur

c)

trader

d)

middleman

35.

_____ is a responsibility of a consumer

a)

To be heard

b)

Redress

c)

To choose

d)

Speakup

36.

There are _____ universal rights of a consumer

a)

3

b)

8

c)

4

d)

7

37.

Which of the options means the right to live and work in an envrionment that is non threatening to the well being of present and future generation

a)

Right to use

b)

Right to healthy environment

c)

proper claims

d)

Right to choice

38.

Proper use of product is a

a)

Rule

b)

Regulation

c)

Responsibility

d)

Right

39.

_______ is consumer protection, or consumer activities, which seeks to protect and inform consumers by ensuring such practices as honest packaging, advertising products guaranttee and improved safety standard

a)

Consumer Responsibility

b)

The right to choice

c)

consumerism

d)

Consumer Right

40.

A person who buys goods to be used by him/herself or on behalf of the actual buyers is a

a)

seller of goods

b)

purchaser

c)

consumer

d)

seller

41.

The principle of freedom that users of a particular product are entitled to is

a)

Origin

b)

Consumerism

c)

Consumer right

d)

Consumer responsibilitie

42.

TAP means

a)

Transpose, accountability, porbity

b)

Transparency, accountability, probity

c)

Transparency, account, probity

d)

Transparency, accountability, probability

43.

Which of the following is not a characteristics of TAP?

a)

Dues process

b)

Fairness

c)

Generosity

d)

Free flow of information

44.

One of the followinfg is an attribute of Tap

a)

Partiality

b)

Favouritism

c)

Fraud

d)

Due process

45.

All except one is a problem created by lack of TAP

a)

Bribery and corruption

b)

Fraud

c)

Partiality

d)

Fairness

46.

What is probity?

a)

It is the act of being content with oneself

b)

The act of being completely honest

c)

The act of one Ego rules

d)

The ability to be discipline

47.

The following are problems created by lack of Transparency, accountability, probity

a)

influence peddling

b)

increase in incidence

c)

tax avoidance

d)

embezzlement

48.

____ is the disclose of work done by those in authority to people who have the right to ask questions

a)

TAP

b)

Accountability

c)

Need for TAP

d)

Transparency

49.

___ is an unplanned decision taken to buy a product orservice just on seeing the product or its promotional message

a)

Rate

b)

Pulse rate

c)

Impulse Buying

d)

Buying

50.

The following are needs except

a)

Toys

b)

clothes

c)

Healthcare

d)

Food