First Term Examination Questions Business Studies JSS 2 First Term Lesson Notes Week 13
Business Studies JSS 2 First Term Examination – Week 13
Exam Instructions
For Teachers:
- Ensure all students have the correct exam papers.
- Remind students of the importance of academic honesty and the consequences of exam malpractice.
- Monitor the examination room closely to prevent any form of cheating.
- Make sure students only use permitted materials.
- Provide clear instructions and assist with any queries during the exam.
For Students:
- Read all instructions carefully before starting.
- Do not talk or communicate with others during the exam.
- Use only the materials allowed for the exam.
- Do not look at others’ papers.
- If you have any questions, raise your hand to ask the teacher.
Exam Sections
Part A: Objective Questions
Fill-in-the-Blank Questions with Options (a, b, c, d)
- A __________ bank primarily serves businesses and individuals.
a) Cooperative
b) Commercial
c) Central
d) Investment - The main function of banks is to accept __________.
a) Payments
b) Deposits
c) Loans
d) Interest - Ethical banking focuses on __________ and integrity.
a) Profit
b) Trust
c) Speed
d) Fees - A __________ account is designed for daily transactions.
a) Savings
b) Current
c) Fixed
d) Joint - Banks earn profit primarily from __________ on loans.
a) Fees
b) Interest
c) Savings
d) Taxes - Channels of distribution include __________, wholesalers, and retailers.
a) Consumers
b) Banks
c) Agents
d) Investors - A __________ is a financial product used to secure a loan.
a) Grant
b) Credit
c) Mortgage
d) Deposit - Interest rates can affect __________.
a) Buying
b) Spending
c) Borrowing
d) Selling - A __________ is a person or business that sells goods to consumers.
a) Wholesaler
b) Retailer
c) Producer
d) Distributor - The capital market is for buying and selling __________.
a) Goods
b) Services
c) Stocks
d) Real estate - A __________ transaction requires payment at the time of purchase.
a) Credit
b) Cash
c) Deferred
d) Loan - Transparency in banking helps build __________.
a) Fees
b) Profit
c) Trust
d) Interest - A __________ is a service provided by banks for withdrawing money.
a) Loan
b) Check
c) Deposit
d) Withdrawal - The primary role of a wholesaler is to sell to __________.
a) Retailers
b) Consumers
c) Manufacturers
d) Banks - A __________ account typically offers higher interest rates than a current account.
a) Savings
b) Checking
c) Loan
d) Credit - Ethical issues in banking can result in loss of __________.
a) Customers
b) Revenue
c) Trust
d) Interest - The liquidity of an asset refers to how easily it can be converted into __________.
a) Goods
b) Cash
c) Investments
d) Loans - Banks charge fees for various __________.
a) Services
b) Products
c) Accounts
d) Loans - A loan agreement typically includes __________ and terms.
a) Conditions
b) Fees
c) Services
d) Interest - Handling chemicals safely is crucial to prevent __________.
a) Sales
b) Accidents
c) Interest
d) Waste - Retailers help distribute goods to __________.
a) Wholesalers
b) Manufacturers
c) Consumers
d) Distributors - A __________ is responsible for the safe distribution of chemicals.
a) Retailer
b) Vendor
c) Consumer
d) Producer - The money market deals with __________ financing.
a) Long-term
b) Short-term
c) Real estate
d) Investment - A current account allows for __________ withdrawals.
a) Limited
b) Frequent
c) One-time
d) Scheduled - Transparency can lead to __________ loyalty.
a) Customer
b) Vendor
c) Bank
d) Investor - The capital market includes buying and selling of __________.
a) Goods
b) Bonds
c) Services
d) Assets - Ethical banking ensures fairness in __________.
a) Interest rates
b) Fees
c) Services
d) Transactions - A __________ is required for high-risk financial transactions.
a) Guarantee
b) Credit
c) Cash
d) Deposit - A __________ account is primarily for saving funds.
a) Current
b) Savings
c) Fixed
d) Joint - Banks must maintain customer __________ to build trust.
a) Revenue
b) Information
c) Profit
d) Assets
Part B: Theory Questions
Short Answer Questions
- Define a commercial bank.
- What are the main services provided by banks?
- Describe the concept of ethical banking.
- Explain the importance of liquidity in finance.
- What role do wholesalers play in the distribution process?
- List the key features of a market.
- How do banks generate profit?
- Differentiate between cash and credit transactions.
- Identify some ethical issues that banks may face.
- What is the primary function of a savings account?
- Describe the capital market.
- How do interest rates impact borrowing?
- What is the function of retailers in distribution?
- Why is customer privacy crucial in banking?
- What are the risks of improper handling of chemicals?
- Explain what a mortgage is.
- How can banks improve transparency?
- Describe the concept of buying and selling for cash.
- What is the role of licensed chemical vendors?
- What happens if banks fail to protect customer information?
Part C: True or False Questions
- A commercial bank only provides loans to individuals. (True/False)
- Ethical banking emphasizes profit above all else. (True/False)
- All savings accounts provide the same interest rates. (True/False)
- Wholesalers sell directly to consumers. (True/False)
- The capital market is for short-term investments. (True/False)
- Banks do not charge interest on loans. (True/False)
- Liquidity is important for financial transactions. (True/False)
- Current accounts typically have fees. (True/False)
- All bank transactions are confidential. (True/False)
- Banks have no responsibility to prevent fraud. (True/False)
- Retailers help distribute products to end-users. (True/False)
- The money market is focused on long-term financing. (True/False)
- Interest rates remain fixed throughout the year. (True/False)
- Ethical issues can harm a bank’s reputation. (True/False)
- A loan requires repayment of interest only. (True/False)
- Transparency in banking can improve customer relationships. (True/False)
- A savings account is suitable for daily expenses. (True/False)
- Liquidity measures the speed of converting assets to cash. (True/False)
- Banks cannot offer investment advice. (True/False)
- All banks have the same policies regarding customer data. (True/False)
Part D: Fill-in-the-Gaps Questions
- A __________ bank provides a variety of financial services.
- Banks primarily earn money from __________ on loans.
- Ethical banking focuses on maintaining __________.
- A __________ account is designed for frequent transactions.
- Liquidity is the ability to convert assets to __________.
- Wholesalers serve as a link between __________ and retailers.
- The __________ market is where long-term securities are traded.
- Banks must safeguard customer __________ to maintain trust.
- Changes in interest rates can affect __________ and spending.
- A __________ transaction requires immediate payment.
- The primary role of retailers is to sell directly to __________.
- A __________ ensures safe handling of hazardous materials.
- The money market typically involves __________ transactions.
- Current accounts usually come with __________ for services.
- Transparency helps in building __________ with customers.
- Savings accounts are intended for __________ funds over time.
- The capital market enables businesses to raise __________.
- Ethical banking involves fair treatment in __________.
- A __________ is a financial commitment secured by property.
- Poor handling of chemicals can lead to serious __________ hazards.
This exam format is designed to assess students’ understanding of the topics covered throughout the term. Good luck to all students!
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