LIC ADO General Awareness Questions Day – 197

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1) ‘FALLCR’ was in the news recently, what is the full form of FALLCR?

a) Financial Account for Less Liquidity Coverage Ratio

b) Federal Acquisition Low Level Credit Rate

c) Formulation of Availed Liquidity for Large Credit Risk

d) Facility to Avail Liquidity for Liquidity Coverage Ratio

e) None of these

2) When was PCA (Prompt Corrective Framework) introduced in India as a “structured early intervention” in banking sector?

a) 2015

b) 2014

c) 2002

d) 2001

e) 2003

3) Term “ARC” has been in news regarding NPA issue in India. What “R” denotes in ARC?

a) Resolution

b) Rate

c) Ratio

d) Reconstruction

e) Risk

4) REER is the weighted average of nominal exchange rates, adjusted for inflation. What does REER reflect?

a) Value of Indian Currency in International Market

b) Degree of External Competitiveness of Indian Products

c) Degree of Domestic Competitiveness of Indian Products

d) Depreciation Rate of Indian Currency

e) Inflation Rate of Indian Market

5) ‘IFSC’ is an 11-digit alpha-numeric code assigned by RBI to identify every bank branch participating in the payment system uniquely. What is the full form of IFSC?

a) Indian Fiscal System Code

b) Intra-Bank Financial System Code

c) Indian Fiscal Source Code

d) International Financial Source Code

e) Indian Financial System Code

6) ‘Turing Award’ is associated with which field?

a) Literature

b) Computing

c) Sports

d) Medicine

e) Economics

7) ‘World Theatre Day’ is celebrated on which date?

a) 15 April

b) 21 January

c) 23 June

d) 27 March

e) 11 February

8) Sai Praneeth is associated with which sports?

a) Tennis

b) Badminton

c) Squash

d) Archery

e) Shooting

9) Who is the current governor of Uttar Pradesh?

a) Tathagata Roy

b) Ram Naik

c) Om Mathur

d) Anandi ben Patel

e) KummanamRajasekharan

10) “Flamingo Festival” was celebrated recently in which state of India?

a) Gujarat

b) Manipur

c) Assam

d) Andhra Pradesh

e) Chhattisgarh

Answers :

1) Answer: d)

FALLCR is Facility to Avail Liquidity for Liquidity Coverage Ratio. Availing of liquidity against the securities under FALLCR is usually permitted to banks only under the conditions of stress.

2) Answer: c)

The PCA framework was introduced in December 2002 as a structured early intervention mechanism along the lines of the Federal Deposit Insurance Corp.’s (FDIC) PCA framework. Subsequently, the framework was reviewed based on the recommendations of the working group of the Financial Stability and Development Council (FSDC) on Resolution Regimes for Financial Institutions in India and the Financial Sector Legislative Reforms Commission (FSLRC). The revised PCA Framework was issued on 13 April 2017 and was implemented as on 31 March 2017.

3) Answer: d)

Asset Reconstruction Companies or ARCs purchase bad assets or NPAs from banks at a negotiable price and helps banks to clean up their balance sheets (by removing the NPAs).

4) Answer: b)

Real Effective Exchange Rate (REER) is the weighted average of nominal exchange rates, adjusted for inflation. REER is calculated on the basis of NEER (Nominal Effective Exchange Rate). REER captures inflation differentials between India and its major trading partners and reflects the degree of external competitiveness of Indian products.

5) Answer: e)

The Indian Financial System Code (or IFSC) is an 11-digit alpha-numeric code assigned by the Reserve Bank of India to identify every bank branch participating in the payment system uniquely.

6) Answer: b)

Regarded as “Godfathers of AI”, Yoshua Bengio, Geoffrey Hinton, and Yann LeCun, have been recognized with Nobel Prize of computing, Turing Award 2018. The $1 million annual prize recognized their work for developing the AI (Artificial intelligence) subfield of deep learning.

7) Answer: d)

‘World Theatre Day’ is celebrated every year on 27th March by the ITI (International Theatre Institute) centres and International theatre community. It is initiated by International Theatre Institute in 1961.

8) Answer: b)

Sai Praneet lost to Shi Yuqi of China in final of Swiss Open badminton championship held in Basel, Switzerland in March 2019.

9) Answer: b)

Ram Naik is a veteran Indian politician from the BJP, currently the 19th Governor of Uttar Pradesh.

10) Answer: d)

Three-day Flamingo Festival, recently held in Pulicat Lake, Andhra Pradesh. Flamingo Festival is a 12-year-long tradition of the region. The highlight of this fest is the sight of colourful migratory birds from Siberia that visit the region for nesting and breeding.