{"id":254338,"date":"2026-10-16T00:10:10","date_gmt":"2026-10-15T18:40:10","guid":{"rendered":"https:\/\/www.oliveboard.in\/blog\/?p=254338"},"modified":"2026-10-16T00:10:11","modified_gmt":"2026-10-15T18:40:11","slug":"upsc-epfo-apfc-insurance-quiz","status":"publish","type":"post","link":"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-insurance-quiz\/","title":{"rendered":"Attempt UPSC EPFO APFC Insurance Practice Quiz &amp; Download PDF"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_77 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of content<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-insurance-quiz\/#Download_UPSC_EPFO_APFC_Insurance_Practice_Quiz_PDF\" >Download UPSC EPFO APFC Insurance Practice Quiz PDF<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-insurance-quiz\/#Attempt_UPSC_EPFO_APFC_Insurance_Practice_Quiz\" >Attempt UPSC EPFO APFC Insurance Practice Quiz<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-insurance-quiz\/#Sign_Up\" >Sign Up<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-insurance-quiz\/#Login\" >Login<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-insurance-quiz\/#Forgot_Password\" >Forgot Password<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-insurance-quiz\/#i\" >&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-insurance-quiz\/#Why_should_you_practise_insurance_questions_for_the_UPSC_EPFO_APFC_exam\" >Why should you practise insurance questions for the UPSC EPFO APFC exam?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-insurance-quiz\/#What_topics_are_covered_in_the_UPSC_EPFO_APFC_Insurance_Practice_Quiz\" >What topics are covered in the UPSC EPFO APFC Insurance Practice Quiz?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-insurance-quiz\/#What_are_the_important_insurance_topics_to_revise_before_the_exam\" >What are the important insurance topics to revise before the exam?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-insurance-quiz\/#FAQs\" >FAQs<\/a><\/li><\/ul><\/nav><\/div>\n\n<p>Insurance is an important topic for the UPSC EPFO APFC examination, covering insurance basics, risk management, principles of insurance, life insurance, general insurance, and social security. Practising insurance questions can help you understand important concepts and prepare for exam-related questions. Attempt the UPSC EPFO APFC Insurance Practice Quiz to test your knowledge, identify areas for improvement, and revise key topics. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Download_UPSC_EPFO_APFC_Insurance_Practice_Quiz_PDF\"><\/span>Download UPSC EPFO APFC Insurance Practice Quiz PDF<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Download the free UPSC EPFO APFC Insurance Practice Quiz PDF to revise important insurance concepts and practise exam-level questions anytime.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Particulars<\/strong><\/td><td><strong>Link<\/strong><\/td><\/tr><tr><td>UPSC EPFO APFC Insurance Practice Quiz PDF<\/td><td><strong><a href=\"https:\/\/www.oliveboard.in\/upsc-epfo-prep-kit\/?ref=contac-upsc-epfo-insurance-pq\" target=\"_blank\" rel=\"noreferrer noopener\">Download Now<\/a><\/strong><\/td><\/tr><tr><td>UPSC EPFO APFC Previous Year Papers<\/td><td><strong><a href=\"https:\/\/www.oliveboard.in\/upsc-epfo-apfc-eo-ao-pyp-kit\/?ref=contac-upsc-epfo-insurance-pq\" target=\"_blank\" rel=\"noreferrer noopener\">Download Now<\/a><\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Attempt_UPSC_EPFO_APFC_Insurance_Practice_Quiz\"><\/span>Attempt UPSC EPFO APFC Insurance Practice Quiz<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Practise Insurance MCQs through a quiz designed for the UPSC EPFO APFC exam. Test your knowledge of insurance basics, risk management, principles of insurance, life and general insurance, and social security while identifying areas that need more revision.<\/p>\n\n\n\n<!DOCTYPE html>\n<html lang=\"en\">\n<head>\n<meta charset=\"UTF-8\">\n<link rel=\"stylesheet\" href=\"https:\/\/courses.oliveboard.in\/edge\/css\/login-modal-for-blog.css\">\n\n<style>\n#quiz-1-sticky-header {\n  position: sticky;\n  top: 0;\n  z-index: 100;\n  background: #1565c0;\n  color: #fff;\n  padding: 12px 20px;\n  border-radius: 10px 10px 0 0;\n  display: flex;\n  justify-content: space-between;\n  align-items: center;\n  font-size: 16px;\n  font-weight: bold;\n  box-shadow: 0 2px 8px rgba(0,0,0,0.2);\n  margin: -20px -20px 20px -20px;\n}\n\n#quiz-1-score-badge {\n  background: rgba(255,255,255,0.2);\n  padding: 4px 12px;\n  border-radius: 20px;\n  font-size: 15px;\n  white-space: nowrap;\n}\n#quiz-1 * { box-sizing: border-box; }\n\n#quiz-1 .quiz-container {\n  max-width: 700px;\n  margin: auto;\n  padding: 20px;\n  background: #fff;\n  border-radius: 14px;\n  box-shadow: 0 6px 16px rgba(0,0,0,0.12);\n}\n\n#quiz-1 h2 {\n  text-align: center;\n}\n\n#quiz-1 .question {\n  margin-bottom: 22px;\n}\n\n#quiz-1 .question p {\n  font-weight: bold;\n}\n\n#quiz-1 button {\n  width: 100%;\n  padding: 12px;\n  margin: 6px 0;\n  border: none;\n  border-radius: 6px;\n  background: #e0e0e0;\n  color: #000;\n  font-size: 16px;\n  cursor: pointer;\n}\n\n#quiz-1 button:hover {\n  background: #d5d5d5;\n}\n\n#quiz-1 button.correct {\n  background: #4caf50;\n  color: #000;\n}\n\n#quiz-1 button.wrong {\n  background: #f44336;\n  color: #000;\n}\n\n#quiz-1 button.locked {\n  pointer-events: none;\n}\n\n\/* SUMMARY *\/\n#quiz-1 .final-summary {\n  margin-top: 40px;\n  padding: 20px;\n  border-radius: 14px;\n  background: #fafafa;\n  border: 2px solid #4caf50;\n}\n\n#quiz-1 .final-summary h3 {\n  text-align: center;\n  margin-bottom: 20px;\n}\n\n#quiz-1 .summary-row {\n  display: grid;\n  grid-template-columns: 120px 1fr 40px;\n  gap: 10px;\n  align-items: center;\n  margin-bottom: 12px;\n  font-weight: bold;\n}\n\n#quiz-1 .summary-bar {\n  height: 14px;\n  background: #ddd;\n  border-radius: 10px;\n  overflow: hidden;\n}\n\n#quiz-1 .bar-fill {\n  height: 100%;\n  width: 0%;\n}\n\n#quiz-1 .bar-attempted { background: #2196f3; }\n#quiz-1 .bar-correct { background: #4caf50; }\n#quiz-1 .bar-wrong { background: #f44336; }\n#quiz-1 .bar-unattempted { background: #9e9e9e; width: 100%; }\n\n#quiz-1 .final-score {\n  text-align: center;\n  font-size: 22px;\n  margin-top: 20px;\n}\n\n#quiz-1 .score-value {\n  font-size: 30px;\n  margin-left: 8px;\n}\n<\/style>\n<\/head>\n\n<body>\n<div id=\"quiz-1\">\n  <div class=\"quiz-container\">\n<div id=\"quiz-1-sticky-header\">\n  <span> UPSC EPFO APFC Insurance Practice Quiz <\/span>\n  <span id=\"quiz-1-score-badge\">Score: <strong id=\"quiz-1-score-value\">0.00<\/strong><\/span>\n<\/div>\n\n    <!-- QUESTIONS -->\n\n<div class=\"question\" data-answered=\"false\">\n  <p>1. Which one of the following best describes insurance as an economic arrangement?<\/p>\n  <button data-correct=\"false\">(A) A means of earning a fixed investment return<\/button>\n  <button data-correct=\"true\">(B) A mechanism for transferring specified financial consequences of risk in return for a premium<\/button>\n  <button data-correct=\"false\">(C) A method of eliminating the occurrence of losses<\/button>\n  <button data-correct=\"false\">(D) A guarantee that every premium will be refunded<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>2. The law of large numbers is most directly relevant to an insurer because it enables the insurer to:<\/p>\n  <button data-correct=\"true\">(A) Estimate aggregate claims more reliably across a sufficiently large group of similar exposures<\/button>\n  <button data-correct=\"false\">(B) Ensure that each policy results in a profit<\/button>\n  <button data-correct=\"false\">(C) Predict the exact date of a particular insured loss<\/button>\n  <button data-correct=\"false\">(D) Avoid collecting underwriting information<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>3. Which of the following is the principal consideration supplied by the policyholder under a typical insurance contract?<\/p>\n  <button data-correct=\"false\">(A) Issue of the policy document<\/button>\n  <button data-correct=\"false\">(B) Settlement of a claim<\/button>\n  <button data-correct=\"false\">(C) Creation of a contingency<\/button>\n  <button data-correct=\"true\">(D) Payment of premium<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>4. An insurance contract is described as aleatory primarily because:<\/p>\n  <button data-correct=\"false\">(A) It must always be executed under seal<\/button>\n  <button data-correct=\"false\">(B) It transfers ownership of the insured property<\/button>\n  <button data-correct=\"true\">(C) The value exchanged depends on the occurrence of an uncertain event<\/button>\n  <button data-correct=\"false\">(D) Both parties must perform identical obligations<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>5. Which statement about insurance and prevention of loss is correct?<\/p>\n  <button data-correct=\"true\">(A) Insurance can compensate covered loss but does not itself stop the event from occurring<\/button>\n  <button data-correct=\"false\">(B) Insurance is available only for unavoidable losses<\/button>\n  <button data-correct=\"false\">(C) Insurance makes preventive measures unnecessary<\/button>\n  <button data-correct=\"false\">(D) Insurance removes every hazard<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>6. In insurance terminology, an exposure generally means:<\/p>\n  <button data-correct=\"false\">(A) The proceeds received on policy maturity<\/button>\n  <button data-correct=\"true\">(B) A condition or asset that is subject to possible loss<\/button>\n  <button data-correct=\"false\">(C) A dishonest claim made by the insured<\/button>\n  <button data-correct=\"false\">(D) The amount already paid by the insurer<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>7. Which of the following most clearly illustrates pooling of risk?<\/p>\n  <button data-correct=\"false\">(A) An individual setting aside money solely for a personal future expense<\/button>\n  <button data-correct=\"false\">(B) A bank lending to an insurer<\/button>\n  <button data-correct=\"false\">(C) An insurance agent transferring a policy to a customer<\/button>\n  <button data-correct=\"true\">(D) An insurer using premiums from many policyholders to meet covered claims of some policyholders<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>8. A policy provides cover only when the loss results from specified events. Such insurance is most accurately described as:<\/p>\n  <button data-correct=\"false\">(A) Self-insurance<\/button>\n  <button data-correct=\"false\">(B) Unlimited cover<\/button>\n  <button data-correct=\"true\">(C) Named-perils cover<\/button>\n  <button data-correct=\"false\">(D) Investment-linked cover<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>9. Which one of the following is ordinarily NOT a core function of insurance?<\/p>\n  <button data-correct=\"false\">(A) Financial protection against covered contingencies<\/button>\n  <button data-correct=\"true\">(B) Guaranteeing that insured accidents will not occur<\/button>\n  <button data-correct=\"false\">(C) Risk pooling<\/button>\n  <button data-correct=\"false\">(D) Support for economic activity through risk transfer<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>10. Which statement best distinguishes insurance from self-insurance?<\/p>\n  <button data-correct=\"false\">(A) Self-insurance always removes uncertainty<\/button>\n  <button data-correct=\"false\">(B) Insurance is possible only for business entities<\/button>\n  <button data-correct=\"false\">(C) Self-insurance requires the issue of a life policy<\/button>\n  <button data-correct=\"true\">(D) In self-insurance, the entity retains and funds its own losses rather than transferring them to an external insurer<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>11. A proposal form is principally used by an insurer to:<\/p>\n  <button data-correct=\"true\">(A) Collect information for assessing the risk and deciding policy terms<\/button>\n  <button data-correct=\"false\">(B) Replace the need for underwriting in every case<\/button>\n  <button data-correct=\"false\">(C) Provide a final judicial determination of liability<\/button>\n  <button data-correct=\"false\">(D) Pay the insured\u2019s medical expenses immediately<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>12. Which one of the following statements concerning insurance premiums is correct?<\/p>\n  <button data-correct=\"false\">(A) Premium is paid only after a claim occurs<\/button>\n  <button data-correct=\"false\">(B) Premium is always equal to a loss suffered by the insured<\/button>\n  <button data-correct=\"true\">(C) Premium is the price charged for the insurance cover<\/button>\n  <button data-correct=\"false\">(D) Premium cannot vary with coverage and risk characteristics<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>13. A deductible in a general insurance policy normally means:<\/p>\n  <button data-correct=\"true\">(A) The initial portion of a covered loss borne by the insured<\/button>\n  <button data-correct=\"false\">(B) The maximum amount payable by the insurer<\/button>\n  <button data-correct=\"false\">(C) The value of the insured property on purchase<\/button>\n  <button data-correct=\"false\">(D) The policy\u2019s automatic renewal period<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>14. In a contract that specifies a sum insured, the sum insured ordinarily represents:<\/p>\n  <button data-correct=\"false\">(A) The amount of tax paid by the insurer<\/button>\n  <button data-correct=\"false\">(B) A fixed profit guaranteed to the policyholder<\/button>\n  <button data-correct=\"true\">(C) The policy\u2019s stated monetary limit of cover, subject to its terms<\/button>\n  <button data-correct=\"false\">(D) The total premiums already collected<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>15. An insurance endorsement is generally used to:<\/p>\n  <button data-correct=\"false\">(A) Guarantee a claim irrespective of exclusions<\/button>\n  <button data-correct=\"true\">(B) Modify or record changes to the terms of an existing policy<\/button>\n  <button data-correct=\"false\">(C) Convert every indemnity cover into life cover<\/button>\n  <button data-correct=\"false\">(D) Appoint the insurance regulator<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>16. Which of the following is an example of pure risk?<\/p>\n  <button data-correct=\"false\">(A) A trader speculating on commodity prices<\/button>\n  <button data-correct=\"false\">(B) A person buying a lottery ticket<\/button>\n  <button data-correct=\"false\">(C) An investor purchasing volatile shares<\/button>\n  <button data-correct=\"true\">(D) A manufacturer\u2019s possibility of accidental fire damage to its factory<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>17. The possibility of both gain and loss in a foreign-exchange trade is an example of:<\/p>\n  <button data-correct=\"false\">(A) Personal mortality risk<\/button>\n  <button data-correct=\"true\">(B) Speculative risk<\/button>\n  <button data-correct=\"false\">(C) Static property risk<\/button>\n  <button data-correct=\"false\">(D) Pure risk<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>18. A slippery factory floor that increases the probability of accidents is primarily a:<\/p>\n  <button data-correct=\"false\">(A) Claim<\/button>\n  <button data-correct=\"false\">(B) Sum insured<\/button>\n  <button data-correct=\"true\">(C) Physical hazard<\/button>\n  <button data-correct=\"false\">(D) Peril<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>19. A fire that actually damages an insured warehouse is best classified as a:<\/p>\n  <button data-correct=\"false\">(A) Underwriting factor only<\/button>\n  <button data-correct=\"false\">(B) Moral hazard<\/button>\n  <button data-correct=\"false\">(C) Premium<\/button>\n  <button data-correct=\"true\">(D) Peril<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>20. An insured person deliberately exaggerates an otherwise valid claim. This conduct most directly illustrates:<\/p>\n  <button data-correct=\"true\">(A) Moral hazard<\/button>\n  <button data-correct=\"false\">(B) Fundamental risk<\/button>\n  <button data-correct=\"false\">(C) Physical hazard<\/button>\n  <button data-correct=\"false\">(D) Diversification<\/button>\n<\/div>\n\n    <!-- FINAL SUMMARY -->\n    <div class=\"final-summary\">\n      <h3>Quiz Summary <\/h3>\n\n      <div class=\"summary-row\">\n        <span>Attempted<\/span>\n        <div class=\"summary-bar\"><div class=\"bar-fill bar-attempted\" data-summary=\"attempted\"><\/div><\/div>\n        <span data-count=\"attempted\">0<\/span>\n      <\/div>\n\n      <div class=\"summary-row\">\n        <span>Correct<\/span>\n        <div class=\"summary-bar\"><div class=\"bar-fill bar-correct\" data-summary=\"correct\"><\/div><\/div>\n        <span data-count=\"correct\">0<\/span>\n      <\/div>\n\n      <div class=\"summary-row\">\n        <span>Wrong<\/span>\n        <div class=\"summary-bar\"><div class=\"bar-fill bar-wrong\" data-summary=\"wrong\"><\/div><\/div>\n        <span data-count=\"wrong\">0<\/span>\n      <\/div>\n\n      <div class=\"summary-row\">\n        <span>Unattempted<\/span>\n        <div class=\"summary-bar\"><div class=\"bar-fill bar-unattempted\" data-summary=\"unattempted\"><\/div><\/div>\n        <span data-count=\"unattempted\">0<\/span>\n      <\/div>\n\n      <div class=\"final-score\">\n        Final Score: <span class=\"score-value\" data-score>0.0<\/span>\n      <\/div>\n    <\/div>\n\n  <\/div>\n<\/div>\n<div class=\"modal modal-obls\" id=\"modal-signup\">\n        <div class=\"modal-background\"><\/div>\n        <div class=\"modal-content\">\n           <div class=\"obls-group\" id=\"obls-group1\">\n               <div class=\"obls-blk\">\n                   <span class=\"img-box\"><img decoding=\"async\" src=\"\/img\/img-delivery.svg\" alt=\"\"><\/span>\n                   <h2 id=\"display-register-text\"><span 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The UPSC EPFO APFC previous year question paper included questions on insurance principles, covering mitigation of loss and indemnity. Questions related to the Employees&#8217; State Insurance (ESI) Scheme are also relevant to the broader social security section. <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Understand key concepts: <\/strong>Revise insurance terminology, risk, perils, hazards, and risk management.<\/li>\n\n\n\n<li><strong>Learn insurance principles:<\/strong> Practise questions on utmost good faith, insurable interest, indemnity, subrogation, contribution, and proximate cause.<\/li>\n\n\n\n<li><strong>Revise insurance products:<\/strong> Understand life insurance, health insurance, motor insurance, fire insurance, and marine insurance.<\/li>\n\n\n\n<li><strong>Cover social security: <\/strong>Study the role of insurance in financial protection, social welfare, and government-supported schemes.<\/li>\n\n\n\n<li><strong>Improve accuracy:<\/strong> Review your answers and understand the concepts behind incorrect responses.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-topics-are-covered-in-the-upsc-epfo-apfc-insurance-practice-quiz\"><span class=\"ez-toc-section\" id=\"What_topics_are_covered_in_the_UPSC_EPFO_APFC_Insurance_Practice_Quiz\"><\/span>What topics are covered in the UPSC EPFO APFC Insurance Practice Quiz?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The Insurance Practice Quiz covers the major concepts relevant to the UPSC EPFO APFC syllabus. It includes questions on insurance fundamentals, types of risk, parties to an insurance contract, and important principles of insurance. It also covers life and general insurance products, along with the role of insurance in social and economic security. <\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><th>Topic<\/th><th>Important subtopics<\/th><\/tr><tr><td>Insurance basics<\/td><td>Meaning, definition, functions, importance, risk transfer, and financial protection<\/td><\/tr><tr><td>Risk<\/td><td>Types of risk, pure and speculative risk, perils, hazards, and risk management<\/td><\/tr><tr><td>Parties to insurance<\/td><td>Insurer, insured, policyholder, proposer, nominee, beneficiary, and insurance agent<\/td><\/tr><tr><td>Principles of insurance<\/td><td>Utmost good faith, insurable interest, indemnity, subrogation, contribution, proximate cause, and mitigation of loss<\/td><\/tr><tr><td>Life insurance<\/td><td>Term insurance, whole life insurance, endowment plans, ULIPs, annuity plans, premium, and sum assured<\/td><\/tr><tr><td>General insurance<\/td><td>Health, motor, fire, marine, travel, property, liability, and crop insurance<\/td><\/tr><tr><td>Insurance and social security<\/td><td>ESI Scheme, social insurance, government-supported schemes, financial inclusion, and social welfare<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-quiz-on-development-issues\/?ref=contac-upsc-epfo-insurance-pq\" target=\"_blank\" rel=\"noreferrer noopener\">Challenge Yourself on Indian Economy \u2013 Take Free Quiz Now!<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-are-the-important-insurance-topics-to-revise-before-the-exam\"><span class=\"ez-toc-section\" id=\"What_are_the_important_insurance_topics_to_revise_before_the_exam\"><\/span>What are the important insurance topics to revise before the exam?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Candidates should focus on key concepts related to insurance contracts, risk protection, and social security.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Principles of insurance: <\/strong>Indemnity, subrogation, contribution, insurable interest, and mitigation of loss.<\/li>\n\n\n\n<li><strong>Risk management:<\/strong> Types of risk, perils, hazards, and risk transfer.<\/li>\n\n\n\n<li><strong>Life and general insurance: <\/strong>Features, benefits, coverage, exclusions, premiums, and claims.<\/li>\n\n\n\n<li><strong>Insurance terminology:<\/strong> Insurer, insured, policyholder, nominee, beneficiary, and assignee.<\/li>\n\n\n\n<li><strong>Insurance and social security: <\/strong>Employees&#8217; State Insurance Scheme and the role of insurance in social protection.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faqs\"><span class=\"ez-toc-section\" id=\"FAQs\"><\/span>FAQs <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1792055066097\"><strong class=\"schema-faq-question\">1. Which insurance principles should I prepare?<\/strong> <p class=\"schema-faq-answer\">Prepare utmost good faith, insurable interest, indemnity, subrogation, contribution, proximate cause, and mitigation of loss.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1792055067041\"><strong class=\"schema-faq-question\">2. Are life insurance and general insurance important topics?<\/strong> <p class=\"schema-faq-answer\">Yes, understand their features, types, benefits, coverage, premiums, and claims.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1792055068079\"><strong class=\"schema-faq-question\">3. Should I study the Employees&#8217; State Insurance Scheme?<\/strong> <p class=\"schema-faq-answer\">Yes, the ESI Scheme is relevant to the broader insurance and social security areas of the examination.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1792055068655\"><strong class=\"schema-faq-question\">4. What is the principle of indemnity?<\/strong> <p class=\"schema-faq-answer\">The principle of indemnity aims to compensate the insured for the covered loss, subject to the policy terms and applicable limits.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1792055069203\"><strong class=\"schema-faq-question\">5. What is the principle of mitigation of loss?<\/strong> <p class=\"schema-faq-answer\">It requires the insured to take reasonable steps to reduce or minimise a covered loss.<\/p> <\/div> <\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n<ul class=\"wp-block-latest-posts__list is-grid columns-3 wp-block-latest-posts\"><li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/code-on-social-security-2020-practice-quiz\/\">UPSC EPFO APFC Code on Social Security 2020 Quiz &amp; Free PDF<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-insurance-quiz\/\">Attempt UPSC EPFO APFC Insurance Practice Quiz &amp; Download PDF<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-auditing-practice-quiz\/\">Attempt UPSC EPFO APFC Auditing Practice Quiz &amp; Download PDF<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-marks-vs-cut-off\/\">UPSC EPFO APFC Marks vs Cut-Off, How to Calculate Your Score?<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-exam-shift-timings\/\">UPSC EPFO Exam Shift Timings for Written Exam on 20 December 2026<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-principles-of-accountancy-auditing-andinsurance-syllabus\/\">UPSC EPFO Principles of Accountancy, Auditing and Insurance Syllabus 2026<\/a><\/li>\n<\/ul>","protected":false},"excerpt":{"rendered":"<p>Insurance is an important topic for the UPSC EPFO APFC examination, covering insurance basics, risk management, principles of insurance, life<\/p>\n","protected":false},"author":58,"featured_media":254340,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10321],"tags":[],"class_list":["post-254338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-upsc-epfo","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Attempt UPSC EPFO APFC Insurance Practice Quiz &amp; 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Which insurance principles should I prepare?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Prepare utmost good faith, insurable interest, indemnity, subrogation, contribution, proximate cause, and mitigation of loss.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-insurance-quiz\/#faq-question-1792055067041","position":2,"url":"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-insurance-quiz\/#faq-question-1792055067041","name":"2. Are life insurance and general insurance important topics?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Yes, understand their features, types, benefits, coverage, premiums, and claims.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-insurance-quiz\/#faq-question-1792055068079","position":3,"url":"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-insurance-quiz\/#faq-question-1792055068079","name":"3. Should I study the Employees' State Insurance Scheme?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Yes, the ESI Scheme is relevant to the broader insurance and social security areas of the examination.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-insurance-quiz\/#faq-question-1792055068655","position":4,"url":"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-insurance-quiz\/#faq-question-1792055068655","name":"4. What is the principle of indemnity?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"The principle of indemnity aims to compensate the insured for the covered loss, subject to the policy terms and applicable limits.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-insurance-quiz\/#faq-question-1792055069203","position":5,"url":"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-insurance-quiz\/#faq-question-1792055069203","name":"5. What is the principle of mitigation of loss?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"It requires the insured to take reasonable steps to reduce or minimise a covered loss.","inLanguage":"en-US"},"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/posts\/254338","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/users\/58"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/comments?post=254338"}],"version-history":[{"count":2,"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/posts\/254338\/revisions"}],"predecessor-version":[{"id":254381,"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/posts\/254338\/revisions\/254381"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/media\/254340"}],"wp:attachment":[{"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/media?parent=254338"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/categories?post=254338"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/tags?post=254338"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}