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Free Practice Questions for Odisha CHSE +2 Vocational Insurance

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Exam Review

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 review concepts for the Odisha CHSE +2 Vocational Insurance exam. 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 Exam

Odisha CHSE Higher Secondary Vocational Insurance prepares +2 students in Government Vocational Higher Secondary Schools and affiliated institutions for applied insurance knowledge under the Council of Higher Secondary Education, Odisha. The Part-II syllabus (Part-II.pdf) organises the trade into four papers: principles of insurance and life insurance; life premium, surrender, bonus, agency and IRDA Act 1999; marine and fire insurance; and miscellaneous covers including motor, burglary, personal accident, employer’s liability, ESI, fidelity and rural asset lines. Assessment is theory-plus-practical (40+60 per paper; 200 trade marks per year), with Year-2 papers counting toward the AHSE pass certificate pathway for vocational stream candidates. Fees are collected through the AHSE enrollment/form-fill-up package rather than a separate public per-trade marketplace price. This free English MCQ bank builds theory fluency for risk, principles, life and general lines, premium/claims literacy and IRDAI basics—it is not an official-format simulation and does not replace practical form-filling, claim-document practice or viva.

Exam sponsor: CHSE Odisha. The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

CHSE Odisha Higher Secondary Vocational Insurance is a Business and Commerce Area trade under Vocational Courses Part II (Business and Commerce). Trade subject carries 200 marks per year: Paper I and Paper II in Year 1 (college assessment) and Paper III and Paper IV in Year 2 (Council AHSE contribution), each with Theory 40 marks (~2 hours) and Practical 60 marks (~3 hours). Paper I theory covers principles of insurance and life insurance foundations (risk, reinsurance/double insurance, indemnity, subrogation, proximate cause, insurable interest, life policy types and conditions). Paper II theory covers premium calculation, surrender value, bonus/surplus, life office structure, agent duties and the IRDA Act, 1999. Paper III theory covers marine and fire insurance contracts, clauses, losses and claims. Paper IV theory covers motor, burglary, personal accident, employer’s liability, ESI Act, fidelity and other miscellaneous/rural covers. Official practicals (proposal and claim forms, premium/surrender illustrations, notices of loss, assignment/nomination documents) and viva remain mandatory. This free 100-question bank is an English MCQ study adaptation of theory knowledge only.

Time Limit

About 2 hours per 40-mark trade theory paper; about 3 hours per 60-mark trade practical (confirm AHSE timetable).

Passing Score

Published CHSE 2026 passing marks for vocational trade subjects are 12/40 theory and 18/60 practical (about 30% each component). Confirm the current AHSE / vocational circular for your registration year.

Exam / Certification Fees

Included in the CHSE Odisha AHSE enrollment / form-fill-up fee package as notified for the sitting, plus practical examination fees per paper; exact rupees vary by year (illustrative AHSE 2025 form-fill-up subtotal Rs.520; practical fee often Rs.40 per paper)—see official notifications on chseodisha.nic.in.

Exam sponsor website

Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.

Our practice resources: topics covered

We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.

Study emphasis ~12%

Risk, Basics & Reinsurance

Insurance meaning/functions, pure risk, double insurance vs reinsurance, life vs general.

Study emphasis ~16%

Principles of Insurance

Utmost good faith, indemnity, subrogation, contribution, proximate cause, insurable interest.

Study emphasis ~16%

Life Insurance Plans & Underwriting

Term, whole life, endowment, money-back, group, annuities, mortality and risk selection.

Study emphasis ~10%

Premium, Surrender & Continuance

Net/gross premium, surrender value, paid-up, grace, lapse, revival.

Study emphasis ~12%

Agents, Documents & Claims

Agency, proposals, nomination/assignment, maturity and early claims.

Study emphasis ~8%

IRDAI & Structure

IRDA Act 1999, LIC/GIC context, market conduct literacy.

Study emphasis ~14%

Marine & Fire

Hull/cargo/freight, warranties, fire rates/claims, reinsurance in fire units.

Study emphasis ~12%

Miscellaneous General & Social Security

Motor, burglary, PA, EL, fidelity, rural covers, ESI, format literacy.

Preparing for the Odisha CHSE +2 Vocational Insurance Exam

What You Need to Know

  • Passing score: Published CHSE 2026 passing marks for vocational trade subjects are 12/40 theory and 18/60 practical (about 30% each component). Confirm the current AHSE / vocational circular for your registration year.
  • Assessment: CHSE Odisha Higher Secondary Vocational Insurance is a Business and Commerce Area trade under Vocational Courses Part II (Business and Commerce). Trade subject carries 200 marks per year: Paper I and Paper II in Year 1 (college assessment) and Paper III and Paper IV in Year 2 (Council AHSE contribution), each with Theory 40 marks (~2 hours) and Practical 60 marks (~3 hours). Paper I theory covers principles of insurance and life insurance foundations (risk, reinsurance/double insurance, indemnity, subrogation, proximate cause, insurable interest, life policy types and conditions). Paper II theory covers premium calculation, surrender value, bonus/surplus, life office structure, agent duties and the IRDA Act, 1999. Paper III theory covers marine and fire insurance contracts, clauses, losses and claims. Paper IV theory covers motor, burglary, personal accident, employer’s liability, ESI Act, fidelity and other miscellaneous/rural covers. Official practicals (proposal and claim forms, premium/surrender illustrations, notices of loss, assignment/nomination documents) and viva remain mandatory. This free 100-question bank is an English MCQ study adaptation of theory knowledge only.
  • Time limit: About 2 hours per 40-mark trade theory paper; about 3 hours per 60-mark trade practical (confirm AHSE timetable).
  • Exam / certification fees: Included in the CHSE Odisha AHSE enrollment / form-fill-up fee package as notified for the sitting, plus practical examination fees per paper; exact rupees vary by year (illustrative AHSE 2025 form-fill-up subtotal Rs.520; practical fee often Rs.40 per paper)—see official notifications on chseodisha.nic.in. Official sources

Using Our Practice Resources

  • Work through all 100 available questions
  • Review every answer and explanation
  • Track weak areas and revisit them
  • Use our AI tutor for tough concepts

Odisha CHSE +2 Vocational Insurance: Suggested Study Strategy

1Build a principles card: utmost good faith, indemnity, subrogation, contribution, proximate cause, insurable interest—with one example each.
2Separate double insurance (insured buys multiple policies) from reinsurance (insurer cedes risk).
3Table life plans: term, whole life, endowment, money-back, joint life, group, pure/double endowment features.
4Drill surrender vs paid-up vs lapse vs revival sequences with document lists.
5Nomination ≠ assignment—write one sentence distinguishing each before timed sets.
6For marine, memorise hull/cargo/freight and link warranties + causa proxima to claim examples.
7For fire, connect construction/occupancy/location to rate fixation and claim documents.
8Map Paper IV miscellaneous lines (motor, burglary, PA, EL, fidelity, crop, pumpset, fishery, banker’s indemnity, jeweller’s block) to one-line purposes.
9Remember IRDA Act year 1999 and IRDAI’s policyholder-protection role.
10Complete practical form drills—MCQs do not replace CHSE practical/viva assessment.
11Read Part-II.pdf Insurance units and current AHSE fee/timetable notices on chseodisha.nic.in before exam week.

Frequently Asked Questions

Is the official CHSE Insurance trade exam only multiple choice?

No. Each trade paper combines Theory (40 marks, about 2 hours) and Practical (60 marks, about 3 hours). Official theory is mixed written work; practical form-filling, claim documents, premium/surrender illustrations and viva evidence are required. This bank is an English theory-knowledge MCQ study adaptation only—it does not replace practical, viva, project or occupational-skill assessment.

How many marks is the Insurance trade?

Under CHSE Vocational Courses Part II, the trade subject is 200 marks per year: Paper I and Paper II in Year 1, Paper III and Paper IV in Year 2. Each paper is Theory 40 + Practical 60. Confirm the current scheme on chseodisha.nic.in (Part-II.pdf).

What topics are covered in Insurance theory?

Paper I: principles of insurance and life insurance foundations. Paper II: premium calculation, surrender value, bonus, life office structure, agents and IRDA Act 1999. Paper III: marine and fire insurance. Paper IV: motor, burglary, personal accident, employer’s liability, ESI Act, fidelity and other miscellaneous/rural covers.

What is the examination fee?

Insurance is examined as part of the Higher Secondary Vocational AHSE package. Fees are collected through CHSE enrollment / form fill-up as notified (illustrative AHSE 2025 form-fill-up subtotal Rs.520, with related certificate heads and per-paper practical fees adding further charges). Check the current circular on chseodisha.nic.in rather than unofficial fixed rupee quotes.

What are typical pass floors?

Published CHSE 2026 passing marks for vocational trade subjects are 12/40 theory and 18/60 practical (about 30% each component). Always confirm the circular that applies to your registration year.

Is this bank an official English translation of the CHSE Insurance papers?

No. Official delivery may use English and/or Odia materials institutionally. This free bank is an English-language MCQ study adaptation for theory revision only—not an official translation, not a pure-MCQ board paper replica, and not a substitute for practical assessment.

Why use MCQs if practical form-filling matters so much?

MCQs quickly check theory facts on principles, life plans, premium/surrender, IRDAI, and general lines. Official success still depends on practical journals, proposal/claim forms, notices of loss and viva—practise those with your school alongside this free theory bank.