LIC AAO General Awareness Questions Day – 134

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.

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1) ‘Sovereign Gold Bonds (SGB)’ are government securities denominated in grams of gold. These are issued by ______________.

a) NBFCs

b) Union Ministry of Finance

c) State Governments

d) Reserve Bank of India

e) Any Public Sector Bank

2)’NFS’ is the largest network of shared automated teller machines (ATMs) in India. ‘S’ in ‘NFS’ is ___________.

a) System

b) Sales

c) Switch

d) Secured

e) Set-up

3) ‘LIBOR’ is rate at which banks offer to lend funds in the interbank market. ‘O’ in ‘LIBOR’ stands for __________.

a) Operational

b) Online

c) Official

d) Overall

e) Offered

4)_____________ is not a use of ‘Debit Cards’.

a) Withdraw cash from an ATM

b) Online purchase domestically

c) Domestic Fund transfer

d) Online purchase internationally

e) International Fund transfer

5) ‘ALCO’ is a strategic decision-making body in the banks. ‘L’ in ‘ALCO’ stands for ___________.

a) Limited

b) Liability

c) Leasing

d) Legal

e) Lender

6) ‘Veer Savarkar International Airport’ is located in __________ city.

a) Pune

b) Jabalpur

c) Rajkot

d) Port Blair

e) Nagpur

7) ‘Thol Lake Bird Sanctuary’ is located in which state.

a) Maharashtra

b) Haryana

c) Himachal Pradesh

d) Gujarat

e) Uttarakhand

8) ‘Artificial Ice Stupa’ is located in ___________ state.

a) Jammu and Kashmir

b) Himachal Pradesh

c) Sikkim

d) Uttarakhand

e) Arunachal Pradesh

9) ‘Society for Worldwide Interbank Financial Telecommunication (SWIFT)’ was founded in which year?

a) 1965

b) 1973

c) 1988

d) 1994

e) 2001

10) ‘Lake Sports Complex’ is located in which city.

a) Kolkata

b) Mumbai

c) Hyderabad

d) Chandigarh

e) Bhopal

Answers :

1) Answer: d)

SGBs are government securities denominated in grams of gold. They are substitutes for holding physical gold. Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity. The Bond is issued by Reserve Bank on behalf of Government of India.

2) Answer: c)

‘National Financial Switch (NFS)’ is the largest network of shared automated teller machines (ATMs) in India. It was designed, developed and deployed with the aim of inter-connecting the ATMs in the country and facilitating convenience banking. It is run by the National Payments Corporation of India (NPCI).

3) Answer: e)

‘LIBOR or ICE LIBOR’ is a benchmark rate that some of the world’s leading banks charge each other for short-term loans. It stands for ‘Intercontinental Exchange (ICE) London Interbank Offered Rate (LIBOR)’ and serves as the first step to calculating interest rates on various loans throughout the world.

4) Answer: e)

Debit cards are issued by banks and are linked to a bank account. The debit cards are used to withdraw cash from an ATM, purchase of goods and services at Point of Sale (POS)/E-commerce (online purchase) both domestically and internationally (provided it is enabled for international use). However, it can be used only for domestic fund transfer from one person to another.

5) Answer: b)         

‘Asset-Liability Management Committee (ALCO)’ is a strategic decision-making body, formulating and overseeing the function of asset liability management (ALM) of a bank. Asset Liability Management (ALM) is concerned with strategic balance sheet management involving all market risks. It also deals with liquidity management, funds management, trading and capital planning.

6) Answer: d)

Veer Savarkar International Airport is also known as Port Blair Airport. It is a customs airport located in Port Blair city.

7) Answer: d)

Thol Lake is an artificial lake in Kalol, Mehsana, Gujarat. This fresh water lake was constructed as an irrigation tank in 1912. It was declared the Thol Bird Sanctuary in 1988.

8) Answer: a)

‘Ice Stupa’ is a form of glacier grafting technique that creates artificial glaciers, used for storing winter water in the form of conical shaped ice heaps. During summer, when water is scarce, the Ice Stupa melts to increase water supply for crops. Ice Stupa was invented by Sonam Wangchuk in Ladakh, Jammu and Kashmir, India

9) Answer: b)

‘The Society for Worldwide Interbank Financial Telecommunication (SWIFT)’ provides a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardized and reliable environment. In 1973, 239 banks from 15 countries got together to solve a common problem, how to communicate about cross-border payments and it led to formation of SWIFT. SWIFT went live with its messaging services in 1977

10) Answer: d)

‘Lake Sports Complex’ was earlier known as Lake Club and was set up in 1961 making it one of the oldest sporting clubs of the city. It has a large club house spread on 10 acres campus. Now it has been renamed as Lake Sports Complex. The Lake Sports Complex rowing course was the venue of the 1989 Senior Asian Rowing Championship and the 1994 Junior Asian Rowing Championship. Many National Level Tournaments have been organized here besides Rowing, Canoeing & Kayaking and Sailing events are also taking care of. It has playing facilities for Lawn Tennis (synthetic and Grassy), Table Tennis, Billiards Archery, Swimming, Squash. It is located in Chandigarh.