Business Studies Exam Questions For JSS2 First Term

You’re welcome to our school exam series where we provide you with termly examination questions and answers in different subjects. In today’s post, we will cover Business Studies exam questions for JSS2 first term with answers. This means that we’ll be providing you with answers to the questions at the end. Also, you will get a few success tips on how to pass Business Studies examinations with flying colors. Remember to use the comments sections if you have questions.

Introduction to Business Studies

Business Studies is one of the most practical and engaging school subjects. It introduces students to the foundational concepts of business and entrepreneurship and prepares them for the real world. This subject helps students understand how businesses operate, their role in society, and the skills needed to succeed in the competitive world of Business Studies.

Key Areas of Focus

Business Studies covers a variety of topics, including:

1. Business Studies – Exploring trade, distribution, and the flow of goods and services.
2. Bookkeeping and Accounting – Teaching students how to record, organize, and manage financial information.
3. Office Practice – Providing insights into administrative duties and office management.
4. Entrepreneurship – Encouraging innovation, creativity, and the basics of starting a business.
5. Business Ethics – Emphasizing honesty, responsibility, and fairness in business dealings.
6. Economics – Understanding the principles of supply and demand, and how economies function.

Business Studies Exam Questions for JSS2 First Term

Business Studies Exam Questions for JSS2 First Term are divided into two sections:

• Section A
• Section B

The first section, namely, Section A is the objective test, and students are expected to attempt all questions in the section. Section B is the theory part; students are expected to answer only five (5) questions out of seven (7).

SECTION A: OBJECTIVE TEST

INSTRUCTION: Attempt all the questions

1. ………. is one of the roles of customs and exercise in foreign trade
(a) arresting of thieves
(b) issue of licenses for the manufactured goods
(c) E- payment
(d) decongestion of prisons

2. An advantage of e-Business Studies is ……….
(a) it encourages bank fraud
(b) E-Business Studies discourages bank fraud and fronting
(c) it usually welcomes customers to the financial institution
(d) it increases long queues in banks

3. ……. are known as e-retailers
(a) Manufacturers
(b) retailers
(c) online retailers
(d) consumers

4. The process of transmitting information from one person to another is called……
(a) trade           (b) banking
(c) insurance    (d) tourism

5. The element or factors that encourage the smooth operation of trade is known as…….. to trade
(a) aids
(b) insurance
(c) mobility of goods
(d) visitors

6. The act of buying and selling of goods in bits is called trade
(a) wholesale trade
(b) retail
(c) import trade
(d) export trade

7. The correspondence book used to know the number of stamps used and the number of letters posted is called
(a) dispatch book
(b) postage book
(c) cash book
(d) sales day book

8. ………. makes the world one economic unit
(a) Advertising      (b) trade
(c) insurance         (d) tourism

9. The trader who buys goods in bulk and sells in large quantity to the retailer is called ……..
(a) Wholesaler      (b) Consumer
(c) traveller           (d) hawker

10. …… can be domestic or internal tourism
(a) outbound tourism
(b) In-bound tourism
(c) general tourism
(d) bright tourism

11. A book in the form of a magazine that shows the pictures of goods produced by the company as well as the brand name, identification number, and at times the price is called ………
(a) invoice
(b) receipt
(c) statement of bank
(d) catalogs

12. ……… does the work of creating awareness of goods and services so as to reach the final consumer.
(a) transportation     (b) insurance
(c) banking               (d) advertisement

13. Home trade is divided into ………, ……… and ……….
(a) general, retail, and entre-port trade
(b) intellectual, social, and common trade
(c) home, friendly, and international trade
(d) wholesale, retail, and hawking trade

14. Foreign trade consists of …….., ……. and ……..
(a) internal trade, marginal trade, and special trade
(b) import, export, and entre-port trade
(c) wholesale, retail, and hawking trade
(d) import, export, and inter-port trade

15. ……. is a type of warehouse
(a) original warehouse
(b) internal warehouse
(c) bonded warehouse
(d) bright warehouse

16. Sending out goods and services produced in a country to another country or other countries of the world is called
(a) home trade
(b) retail trade
(c) hawking
(d) export-trade

17. An invoice contains the following information EXCEPT
(a) description of the goods
(b) quality of goods purchased, unit, and total price
(c) name and address of both the seller and the lawyer
(d) payee account and address

18. One of the features of a market is………..
(a) absence of buyers and sellers
(b) existence of buyers and sellers
(c) no commodity or service to buy
(d) sellers may not form associations to achieve monopoly

19. Small rooms, kiosks, or stands that are sometimes locked up but usually open-fronted and erected in large walled areas are called…………
(a) capital market
(b) money market
(c) stalls
(d) infinity

20. ……… is a quality of receptionist
(a) discussing with the visitors
(b) giving customer food
(c) accepting money from the customers
(d) maintaining the record of visitors

21. …….. helps traders and individuals to safeguard their valuables
(a) communication
(b) insurance
(c) banking
(d) tourism

22. The name given to the activities that facilitate the distribution of goods and services is called ……
(a) banking
(b) aids to trade
(c) channel of distribution
(d) entre-port

23. When an intending buyer receives a quotation or price list from the seller, if the price appeals to her, she replies by sending…….
(a) an order
(b) an invoice
(c) letter of inquiry
(d) a tender

24. ……… is the document which shows evidence of a transaction.
(a) price list
(b) receipt
(c) quotation
(d) cash book

25. The document which shows the current price of all the goods that the seller has in stock is called………
(a) quotation
(b) invoice
(c) delivery note
(d) price list

26. The first person one sees after the security post when a person visits an organization is ……..
(a) clerical staff
(b) receptionist
(c) manager
(d) messenger

27. The office where visitors are received in an organization is called…….
(a) visitors room
(b) receipt room
(c) reception office
(d) natural office

28. The following EXCEPT one is the importance of a receptionist
(a) receiving callers
(b) protection of busy officers
(b) purchasing of company document
(d) protection of the image of the organization

29. The least educational qualification of a receptionist is…….
(a) HND        (b) BSC
(c) SSC          (d) B.ED

30. To make a telephone call the receptionist has to……..the required number
(a) press     (b) call
(c) turn       (d) dial

31. The book into which the receptionist records daily events is called …….
(a) diary
(b) directory
(c) visitor’s book
(d) Visitor’s slip

32. ………is a career opportunity in the capital market
(a) transportation     (b) insurance
(c) programmers       (d) dividend

33. Visitor’s slip contains the following information EXCEPT
(a) name and address of visitors
(b) rank of Visitor
(c) purpose and time of visit
(d) signature

34. A book where the outgoing mail from an organization is recorded is called…….
(a) dispatch book
(b) outward correspondence book
(c) postage book
(d) inward slip

35. The document prepared and issued by the seller to the buyer is called……
(a) purchase document
(b) sales document
(c) legal document
(d) correspondence document

36. In reply to a letter of inquiry, the seller sends……..
(a) delivery invoice
(b) quotation
(c) price list
(d) invoice

37. The document prepared and issued by the buyer to the supplier during a business transaction is……
(a) sales document
(b) purchase document
(c) legal document
(d) correspondence document

38. ……. is a sales document
(a) letter of inquiry
(b) order
(c) quotation
(d) will

39 ……… is a purchase document
(a) quotation
(b) invoice
(c) catalog
(d) letter of inquiry

40. Goods not sold for immediate cash are called ………. sales.
(a) Discount       (b) credit
(c) debit             (d) commission

41. The document which shows evidence of cash payment is …….
(a) price list
(b) cash book
(c) receipt
(d) donation booklet

42. In the capital market, a big company like ……… obtains additional capital from the public by selling its shares.
(a) Central Bank of Nigeria
(b) Insurance companies
(c) United Bank of Africa PLC
(d) engineering association company

43. The machine used to fold outgoing mails in an organization is called ……..
(a) folding machine
(b) folding stamp machine
(c) folding system machine
(d) engineering machine

44. ……. is an instrument traded in the capital market
(a) stone        (b) cement
(c) shares       (d) spade

45. The companies that send out large volumes of letters daily can use mailroom equipment called ……… to stamp envelopes
(a) postal mark machine
(b) Invoice stamp machine
(c) franking machine
(d) stamp pad machine

46. ……… is a document used by personnel officer to write the summary of the subject matter of the letter that concerns all the departments and pass to the heads of the departments (HODs)
(a) letter of inquiry
(b) memorandum
(c) invoice
(d) order

47. The officer who sorts out incoming mails is called…….
(a) receptionist
(b) mail clerk
(c) messenger
(d) managing director

48. When handling incoming mails……should not be opened.
(a) publication
(b) letters marked urgent
(c) all the categories of letters
(d) letters marked confidential

49. In big companies, correspondences are handled by a special clerk called………
(a) receptionist
(b) accounts clerk
(c) mail clerk
(d) accountant

50. Correspondence simply means ……
(a) accounts book
(b) stationeries
(c) letters and parcels
(d) letters

51. ……… is a type of visitor to an organization
(a) sleeping visitor
(b) service visitor
(c) show visitor
(d) visitor on appointment

52. The filing system in which all the files are kept and controlled together in one room under the care of one or more clerks is called……..
(a) subject filing
(b) departmental filing
(c) centralized filing
(d) geographical filing

53. ……… is a quality of receptionist
(a) giving customers food
(b) discussing with the visitors
(c) receiving customers
(d) good human relations

54. The specialized market where securities such as stocks and debenture are bought and sold is called……
(a) Capital market
(b) money market
(c) primary market
(d) commodity market

55. One of the features of the capital market is ……..
(a) it is open to national and international agencies, companies, and citizens of other countries to invest money in Nigeria industries
(b) it is not open to national and international agencies, companies, and citizens of other countries to invest money in Nigerian industries
(c) it is open to individuals only
(d) none of the above

56. Information contained in the visitors’ slip is called ……….
(a) names and addresses of visitors
(b) current price of goods
(c) crossed postal order
(d) residential address

57. The machine used for folding the outgoing mail in an organization is called ………
(a) folding system
(b) folding stamp machine
(c) folding machine
(d) engineering folding machine

58. The people in various professions are identified by their ……
(a) faces
(b) mode of dressing
(c) smiles
(d) languages

59. Non-official dress such as the company’s T-shirt may be worn to work on………
(a) Fridays and Mondays
(b) Mondays only
(c) Sundays only
(d) Fridays only

60. Dressing appropriately to work is a sign of ……
(a) arrogance
(b) affluence
(c) seriousness and positive attitude
(d) pride

61. ……… is a type of visitor to an organization
(a) sleeping visitor
(b) service visitor
(c) show visitor
(d) visitor on appointment

62. The book that helps the receptionist to find names and addresses of telephone owners is called ……..
(a) telephone directory
(b) telephone book
(c) telephone list
(d) appointment list

63. The following EXCEPT one are the documents handled by the receptionist……..
(a) telephone message pad
(b) visitors book
(c) appointment list
(d) statement of account

64. The sales document that gives the buyer an idea of the price of goods is …….
(a) an invoice
(b) receipt
(c) proforma invoice
(d) cash book

65. The correspondence book used to know the number of stamps used and the number of letters posted out is called………
(a) dispatch book
(b) postage book
(c) cash book
(d) sales day book

SECTION B: (Theory)

Instruction: Answer all the questions in this section.

1a. State the full meaning of the following
(i) P.O. Box
(ii) P.M.B
b. What is the full meaning of E-Business Studies?
c. Define trade.
d. State the meaning of market in business education.
e. Who is a receptionist?
f. Define filing.

2. Bearing in mind the meaning, preparation, and uses of office documents you have learned in class, show the layout of letter of inquiry and order respectively.

3a. List and explain three qualities of a receptionist.
b. Show the forms of trade by means of a chart.
c. Mention two advantages of E-Business Studies

4. Outline and explain four (4) roles of custom and Excise in foreign trade.

5. State the meaning of capital market and list four (4) companies that can raise capital from the public through the sale of shares in the capital market.
b. List the three main functions/duties of a receptionist.

Answers to Business Studies Exam Questions for JSS2 First Term

Answers to Section A (Objective Test)

The following table gives the correct answers to the objective section of Business Studies exam questions for JSS2 first term. If you are using a mobile device, hold the table and scroll to the right or left for a complete view.

There you have the answers to the objective section of Business Studies Exam Questions for JSS2 first term. Use the comments section to let me know if you have any questions you would want me to clarify or discuss further.

Answers to Section B (Theory)

Question 1

1a. Full Meanings

(i) P.O. Box: Post Office Box
(ii) P.M.B: Private Mail Bag

1b. Full Meaning of E-Business Studies

E-Business Studies: Electronic Business Studies

1c. Definition of Trade

Trade is the act of buying and selling goods or services.

1d. Meaning of Market in Business Education

A market is a place where buyers and sellers meet to exchange goods and services.

1e. Who is a Receptionist?

A receptionist is the first contact person in an office who welcomes visitors and handles inquiries.

1f. Definition of Filing

Filing is the process of arranging and keeping records or documents for easy retrieval.

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Question 2

Layouts of Office Documents

Letter of Inquiry Layout

• Sender’s address
• Date
• Receiver’s address
• Salutation
• Subject (e.g., Request for Price List)
• Body (stating the purpose of inquiry)
• Complimentary close
• Signature

Order Layout

• Seller’s details
• Buyer’s details
• Date
• Order number
• Description of goods/services
• Quantity
• Total cost
• Signature

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Question 3

3a. Qualities of a Receptionist

1. Good Communication Skills: Ability to speak and write clearly.
2. Good Human Relations: Courteous and respectful to visitors.
3. Organizational Skills: Ability to keep records and appointments in order.

3b. Forms of Trade Chart

1. Home Trade
   • Wholesale Trade
   • Retail Trade
2. Foreign Trade
   • Import Trade
   • Export Trade
   • Entrepot Trade

3c. Advantages of E-Business Studies

1. It reduces long queues in financial institutions.
2. It provides convenience for online transactions.

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Question 4

Roles of Customs and Excise in Foreign Trade

1. Collection of Revenue: Customs collects import and export duties.
2. Prevention of Smuggling: Ensures that illegal goods do not enter or leave the country.
3. Regulation of Goods: Ensures that prohibited goods are not traded.
4. Protection of Local Industries: Imposes duties to make foreign goods less competitive.

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Question 5

5a. Meaning and Companies in Capital Market

Capital Market: A financial market where companies raise capital by selling shares and bonds to the public.

Companies That Can Raise Capital

1. Banks (e.g., United Bank for Africa – UBA)
2. Insurance Companies (e.g., Leadway Assurance)
3. Telecommunication Firms (e.g., MTN Nigeria)
4. Manufacturing Companies (e.g., Dangote Cement)

5b. Functions of a Receptionist

1. Welcoming and directing visitors.
2. Keeping records of visitors and appointments.
3. Answering calls and handling inquiries.

How to Pass Business Studies Exam Questions for JSS2 First Term

Here are some simple but powerful tips to help you pass your Business Studies exam questions for JSS2 first term:

1. Understand the Syllabus
   Start by reviewing the JSS2 first-term syllabus. Know the topics your teacher covered, such as communication, trade, office documents, and entrepreneurship.
2. Practice Past Questions
   Get past exam questions and practice them. This helps you understand the question format and what is often repeated.
3. Memorize Definitions and Terms
   Key terms like trade, market, filing, and business documents must be memorized. Write them out and revise regularly.
4. Learn with Examples
   When studying topics like trade or office documents, use examples. For instance, in filing, know how to arrange documents alphabetically or by date.
5. Use Charts and Diagrams
   Some topics like forms of trade or roles of customs can be explained using charts. This makes them easier to remember.
6. Ask Questions in Class
   If you don’t understand a topic, ask your teacher or classmates for clarification.
7. Write Neatly and Clearly in Exams
   Present your answers in a way that the examiner can easily read and understand. Use headings and bullet points for long answers.
8. Manage Your Time
   Don’t spend too much time on one question. Start with the ones you know and come back to the harder ones later.
9. Revise Daily
   Go over your notes and textbooks daily. Focus more on the topics you find difficult.
10. Stay Confident and Pray
    Believe in yourself and trust your preparation. Say a short prayer before the exam to calm your nerves.

Best wishes from yours sincerely, HD.