LIC AAO General Awareness Questions Day – 131

Dear Aspirants, As we all know the importance of General Awareness section to appear for all the competitive exams. So, IG team has taken majestic step to make you score more in the General Awareness Part. We amalgamated Banking awareness and Static Gk sections to make you score more. The Aspirants can make use of it, to improve score in General awareness part.

LIC AAO General Awareness Questions Day – 131

maximum of 10 points
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1) Name the First Bank to introduce Mutual Fund?

a) ICICI Bank

b) SBI

c) Central Bank of India

d) Bank of Baroda

e) None of these

2) What is the ‘Letter of Credit’ (L/c) also known as?

a) Transferable documentary credit

b) Documentary Credit

c) Transferable credit

d) Countervailing Credit

e) None of these

3) ‘PFE’ is a measure used primarily for credit risk measurement to assess the expected exposure to a counterparty. What is the expanded form of ‘PFE’ ?

a) Potential Future Earner

b) Process Future Exchange

c) Public Financial Exposure

d) Potential Future Exposure

e) Potential Financial Exposure

4) With reference to the Credit Card number, which of the following digits help in identifying the Credit Card Network?

a) Middle two digits

b) Last two

c) Last four

d) Initial Four

e) Initial two

5) NEER and REER are the terms associated with which of the following?

a) Treasury Bill Market

b) Basel norms

c) Foreign Exchange Market

d) Inter-Bank Call Money Market

e) None of these

6) BardoChham dance is a folk dance performed in which state?

a) Himachal Pradesh

b) Arunachal Pradesh

c) Jammu and Kashmir

d) Uttarakhand

e) Andhra Pradesh

7) Valley of flowers is paradise on earth and is situated in

a) Uttarakhand

b) Jammu and Kashmir

c) New Delhi

d) Haryana

e) Uttar Pradesh

8) Tiger Woods is a well-known name related to which of the following sports?

a) Polo

b) Basketball

c) Football

d) Golf

e) Cricket

9) Which among the following is not a member state of SAARC?

a) Myanmar

b) Bhutan

c) Maldives

d) India

e) All are members

10) Which of these festivals is a harvest festival of the state of Tamil Nadu?

a) Bihu

b) Gudipadwa

c) Onam

d) Pongal

e) None of these

Answers :

1) Answer: b)

The mutual fund industry in India originally began in 1963 with the Unit Trust of India (UTI) as a Government of India and the Reserve Bank of India initiative. Launched in 1987, SBI Mutual Fund became the first non-UTI mutual fund in India.

2) Answer: b)

Letter of Credit (L/c) also known as Documentary Credit is a widely used term to make payment secure in domestic and international trade. The document is issued by a financial organization at the buyer request. The buyer also provides the necessary instructions in preparing the document.

3) Answer: d)

PFE – Potential Future Exposure. Potential Future Exposure (PFE) is the maximum expected credit exposure over a specified period of time calculated at some level of confidence (i.e. at a given quantile). PFE is a measure of counterparty risk/credit risk. It can be called sensitivity of risk with respect to market prices.

4) Answer: e)

The Length of the number is from 14 to 19. The first 6 digits are known as the Issuer Identification Number (IIN). Out of them, the first 2 or more digits identify the Card network.

5) Answer: c)

Nominal Effective Exchange Rate (NEER) is a multilateral rate representing the price of a representative basket of foreign currencies, each weighted by its importance to the domestic country in international trade (the average of export and import shares is taken as an indicator of this). The Real Effective Exchange Rate (REER) is calculated as the weighted average of the real exchange rates of all its trade partners, the weights being the shares of the respective countries in its foreign trade. It is interpreted as the number of domestic goods required to purchase one unit of a given basket of foreign goods.

6) Answer: b)

BardoChham is a folk dance of Sherdukpens, a small community of West Kameng District of Arunachal Pradesh,BardoChham depicts the victory of good over evil.

7) Answer: a)

Sprawled across 87 sq. km in Chamoli District, Uttarakhand, Valley of flowers is paradise on earth and is situated at the conversion point of Eastern and Western Himalayas and Zanskar ranges.

8) Answer: d)

EldrickTont “Tiger” Woods is an American professional golfer who is generally considered one of the greatest golfers of all time. Following an outstanding junior, college, and amateur golfing career, Woods turned professional in 1996 at the age of 20.

9) Answer: a)

Its member states include Afghanistan, Bangladesh, Bhutan, India, Nepal, the Maldives, Pakistan and Sri Lanka.

10) Answer: d)

Pongal is a harvest festival of the state of Tamil Nadu


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