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100+ Free Odisha CHSE +2 Vocational Insurance Practice Questions

Council of Higher Secondary Education, Odisha — Higher Secondary (+2) Vocational Trade: Insurance (Business and Commerce Area) practice questions are available now; exam metadata is being verified.

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2026 Statistics

Key Facts: Odisha CHSE +2 Vocational Insurance Exam

200 marks/year

Insurance trade total under Part-II scheme (Papers I–II Year 1; Papers III–IV Year 2)

CHSE Odisha Vocational Courses Part II (Part-II.pdf) scheme of studies

40 + 60

Theory and practical marks for each Insurance trade paper

CHSE Vocational Courses Part II marks distribution

~2 hours

Duration for a 40-mark trade theory paper in the Part-II duration table

CHSE Vocational Courses Part II examination duration table

~3 hours

Duration for a 60-mark trade practical paper in the Part-II duration table

CHSE Vocational Courses Part II examination duration table

1999

Year of the Insurance Regulatory and Development Authority Act referenced in Paper II theory

CHSE Vocational Courses Part II Insurance Paper II theory units

AHSE package

Examination fee is part of CHSE AHSE enrollment/form-fill-up as notified (not a separate open marketplace trade fee)

CHSE Odisha AHSE enrollment/form-fill-up fee notifications

English MCQ aid

This free bank is theory-knowledge practice only; practical forms, viva and occupational evidence are not replaced

OpenExamPrep adaptation note; CHSE vocational practical scheme

Free 100-question English MCQ study bank for Odisha CHSE +2 Vocational Insurance. Official trade is 200 marks/year (Papers I–IV; each Theory 40 + Practical 60; theory ~2 h, practical ~3 h). Fee is part of the AHSE package as notified. Theory-knowledge only—practical forms/viva not replaced. Sources: chseodisha.nic.in Part-II.pdf and AHSE fee notifications.

Sample Odisha CHSE +2 Vocational Insurance Practice Questions

Try these sample questions to test your Odisha CHSE +2 Vocational Insurance exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1In the CHSE Odisha Vocational Insurance syllabus, insurance is best described as a mechanism that primarily:
A.Guarantees that no insured event will ever occur for any person
B.Transfers and spreads the financial impact of specified pure risks among a pool of policyholders
C.Is identical to a lottery ticket with no risk-pooling purpose
D.Exists only to raise unlimited speculative profit for every policyholder
Explanation: Insurance pools premiums so covered pure-risk losses can be shared; it does not prevent events or act as pure gambling.
2A pure risk differs from a speculative risk mainly because pure risk involves:
A.Only the chance of certain profit with no possibility of loss
B.Only the chance of loss or no loss, without a profit opportunity from the risk itself
C.Only currency speculation on stock exchanges
D.Only risks that can never be insured under any circumstances
Explanation: Pure risk = loss or no loss (e.g., fire, death). Speculative risk involves gain or loss. Insurance traditionally addresses pure risks.
3Which statement best matches the importance of insurance in personal and commercial life as taught in +2 vocational Insurance?
A.It eliminates the need for any savings or safety measures
B.It is useful only for governments and never for individuals
C.It replaces the need for all contracts of sale and employment
D.It provides financial protection against covered losses and supports savings, credit and enterprise continuity
Explanation: Insurance protects against covered financial shocks, can support long-term savings (life), and helps commerce continue after losses.
4Double insurance means:
A.The same subject matter is insured with more than one insurer for the same risk and interest
B.An insurer reinsures part of its risk with another insurer only
C.Two different lives are covered under one joint life policy only
D.Insurance is purchased twice in the same second with identical policy numbers
Explanation: Double insurance is multiple policies on the same interest/risk/subject; reinsurance is insurer-to-insurer risk transfer.
5Reinsurance is best described as:
A.A second life policy bought by a customer on a completely different life with no link to the first
B.A government ban on all insurance business
C.Insurance purchased by an insurer to transfer part of the risk it has accepted to another insurer
D.The same as a pure wagering agreement with no risk transfer
Explanation: Reinsurance is the insurer’s insurance—ceding risk to a reinsurer.
6Which pair correctly classifies major lines of insurance in India for syllabus purposes?
A.Only motor insurance and nothing else
B.Only marine hull insurance and jewellery block
C.Life insurance and general (non-life) insurance
D.Only employer’s liability and boiler explosion
Explanation: Indian market and +2 syllabi organise insurance mainly as life vs general (non-life), with many general subclasses.
7Insurable interest means the insured must:
A.Stand to suffer a financial loss if the insured event occurs affecting the subject matter
B.Have no connection at all to the subject matter of insurance
C.Always own every asset in the entire state of Odisha
D.Be a government officer only
Explanation: Insurable interest is a legal/financial stake—loss if the event happens. Without it, the contract risks being a wager.
8A wagering agreement differs from a valid insurance contract mainly because a wager:
A.Always requires a written policy document under IRDAI forms only
B.Always indemnifies actual property loss under the principle of indemnity
C.Lacks insurable interest and is essentially a bet on an uncertain event for gain
D.Is the same legal instrument as a life endowment policy
Explanation: Wagers bet on outcomes without legitimate interest; insurance requires interest, utmost good faith, and lawful risk transfer.
9Mitigation of loss as taught with insurance principles expects the insured to:
A.Take reasonable steps to prevent or minimise loss when a peril threatens or occurs
B.Ignore a fire completely so that the claim becomes larger
C.Destroy undamaged property to increase recovery
D.Refuse all cooperation with surveyors after a loss
Explanation: Insureds should act reasonably to prevent or minimise loss; inflating claims is not permitted.
10Which is a primary function of insurance?
A.Printing currency notes for the Reserve Bank of India
B.Setting national income tax rates for all citizens
C.Replacing the criminal courts for all theft cases
D.Providing financial security/indemnity (or agreed benefit) against covered losses and spreading risk
Explanation: Core functions include risk transfer, risk spreading, and financial protection.

About the Odisha CHSE +2 Vocational Insurance Practice Questions

Verified exam format metadata for Council of Higher Secondary Education, Odisha — Higher Secondary (+2) Vocational Trade: Insurance (Business and Commerce Area) is pending. The practice questions above remain available while official exam length, timing, passing score, fee, and administrator details are reviewed.