Correct Option: B

The Nobel Peace Prize is one of the five Nobel Prizes bequeathed by the Swedish industrialist, inventor, and armaments manufacturer Alfred Nobel, along with the prizes in Chemistry, Physics, Physiology or Medicine, and Literature. Since 1901, it has been awarded annually (with some exceptions) to those who have “done the most or the best work for fraternity between nations, for the abolition or reduction of standing armies and for the holding and promotion of peace congresses. The Chairman of the Norwegian Nobel Committee presents the Nobel Peace Prize in the presence of the King of Norway on 10 December each year (the anniversary of Nobel’s death). The Peace Prize is the only Nobel Prize not presented in Stockholm. The Nobel laureate receives a diploma, a medal and a document confirming the prize amount. As of 2009, the prize was worth 10 million SEK (about US$1.4 million). Since 1990, the Nobel Peace Prize Ceremony is held at Oslo City Hall.