QID #26068
UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC Insurance Sectional Test 2026 Medium
Which statement best explains Insured?
A
Insurance covering risks associated with human life
B
Person or entity that owns an insurance policy
C
Person or property whose risk is covered
D
Pre-agreed amount payable under specified life-insurance conditions
Correct Answer: C. Person or property whose risk is covered
Question: Which statement best explains Insured?
A. Insurance covering risks associated with human life
B. Person or entity that owns an insurance policy
C. Person or property whose risk is covered
D. Pre-agreed amount payable under specified life-insurance conditions
Correct Answer: C. Person or property whose risk is covered
Explanation: Insured: Person or property whose risk is covered
QID #26067
UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC Insurance Sectional Test 2026 Medium
Which of the following is best described as: Person or property whose risk is covered
A
Term insurance
B
Deductible
C
Insured
D
Policyholder
Correct Answer: C. Insured
Question: Which of the following is best described as: Person or property whose risk is covered
A. Term insurance
B. Deductible
C. Insured
D. Policyholder
Correct Answer: C. Insured
Explanation: The correct answer is Insured. Person or property whose risk is covered
QID #26066
UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC Insurance Sectional Test 2026 Medium
Which statement best explains Policyholder?
A
Amount of a covered loss borne by the insured before insurer payment
B
Person or entity that owns an insurance policy
C
Duty of parties to disclose material facts relevant to insurance contract
D
Dominant effective cause used to determine whether a loss falls within policy coverage
Correct Answer: B. Person or entity that owns an insurance policy
Question: Which statement best explains Policyholder?
A. Amount of a covered loss borne by the insured before insurer payment
B. Person or entity that owns an insurance policy
C. Duty of parties to disclose material facts relevant to insurance contract
D. Dominant effective cause used to determine whether a loss falls within policy coverage
Correct Answer: B. Person or entity that owns an insurance policy
Explanation: Policyholder: Person or entity that owns an insurance policy
QID #26065
UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC Insurance Sectional Test 2026 Medium
Which of the following is best described as: Person or entity that owns an insurance policy
A
General insurance
B
Insurance
C
Reinsurance
D
Policyholder
Correct Answer: D. Policyholder
Question: Which of the following is best described as: Person or entity that owns an insurance policy
A. General insurance
B. Insurance
C. Reinsurance
D. Policyholder
Correct Answer: D. Policyholder
Explanation: The correct answer is Policyholder. Person or entity that owns an insurance policy
QID #26064
UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC Insurance Sectional Test 2026 Medium
Which statement best explains Insurer?
A
Person or entity that owns an insurance policy
B
Consideration paid for insurance coverage
C
Insurance purchased by an insurer to transfer part of its own risk
D
Entity that undertakes insurance risk
Correct Answer: D. Entity that undertakes insurance risk
Question: Which statement best explains Insurer?
A. Person or entity that owns an insurance policy
B. Consideration paid for insurance coverage
C. Insurance purchased by an insurer to transfer part of its own risk
D. Entity that undertakes insurance risk
Correct Answer: D. Entity that undertakes insurance risk
Explanation: Insurer: Entity that undertakes insurance risk
QID #26063
UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC Insurance Sectional Test 2026 Medium
Which of the following is best described as: Entity that undertakes insurance risk
A
Insurer
B
Sum assured
C
Annuity
D
IRDAI
Correct Answer: A. Insurer
Question: Which of the following is best described as: Entity that undertakes insurance risk
A. Insurer
B. Sum assured
C. Annuity
D. IRDAI
Correct Answer: A. Insurer
Explanation: The correct answer is Insurer. Entity that undertakes insurance risk
QID #26062
UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC Insurance Sectional Test 2026 Medium
Which statement best explains Premium?
A
Dominant effective cause used to determine whether a loss falls within policy coverage
B
Person or entity that owns an insurance policy
C
Consideration paid for insurance coverage
D
Risk-transfer arrangement under which an insurer provides financial protection in return for premium
Correct Answer: C. Consideration paid for insurance coverage
Question: Which statement best explains Premium?
A. Dominant effective cause used to determine whether a loss falls within policy coverage
B. Person or entity that owns an insurance policy
C. Consideration paid for insurance coverage
D. Risk-transfer arrangement under which an insurer provides financial protection in return for premium
Correct Answer: C. Consideration paid for insurance coverage
Explanation: Premium: Consideration paid for insurance coverage
QID #26061
UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC Insurance Sectional Test 2026 Medium
Which of the following is best described as: Consideration paid for insurance coverage
A
Premium
B
Insurance
C
IRDAI
D
Subrogation
Correct Answer: A. Premium
Question: Which of the following is best described as: Consideration paid for insurance coverage
A. Premium
B. Insurance
C. IRDAI
D. Subrogation
Correct Answer: A. Premium
Explanation: The correct answer is Premium. Consideration paid for insurance coverage
QID #26060
UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC Insurance Sectional Test 2026 Medium
Which statement best explains Insurance?
A
Insurer's right, after paying a loss, to pursue recovery from a responsible third party
B
Risk-transfer arrangement under which an insurer provides financial protection in return for premium
C
Insurance purchased by an insurer to transfer part of its own risk
D
Principle of restoring insured to approximately the financial position before loss, subject to policy terms
Correct Answer: B. Risk-transfer arrangement under which an insurer provides financial protection in return for premium
Question: Which statement best explains Insurance?
A. Insurer's right, after paying a loss, to pursue recovery from a responsible third party
B. Risk-transfer arrangement under which an insurer provides financial protection in return for premium
C. Insurance purchased by an insurer to transfer part of its own risk
D. Principle of restoring insured to approximately the financial position before loss, subject to policy terms
Correct Answer: B. Risk-transfer arrangement under which an insurer provides financial protection in return for premium
Explanation: Insurance: Risk-transfer arrangement under which an insurer provides financial protection in return for premium
QID #26059
UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC Insurance Sectional Test 2026 Medium
Which of the following is best described as: Risk-transfer arrangement under which an insurer provides financial protection in return for premium
A
Utmost good faith
B
Proximate cause
C
Deductible
D
Insurance
Correct Answer: D. Insurance
Question: Which of the following is best described as: Risk-transfer arrangement under which an insurer provides financial protection in return for premium
A. Utmost good faith
B. Proximate cause
C. Deductible
D. Insurance
Correct Answer: D. Insurance
Explanation: The correct answer is Insurance. Risk-transfer arrangement under which an insurer provides financial protection in return for premium
QID #26058
UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC Labour Laws Sectional Test 2026 Medium
Which statement best explains Labour welfare fund?
A
Employment-linked protection and paid leave associated with maternity under applicable law
B
Person participating in a work arrangement outside the traditional employer-employee relationship as recognized in social-security law
C
Person undertaking platform-mediated work as recognized in social-security law
D
Statutory or institutional fund supporting specified welfare measures for workers
Correct Answer: D. Statutory or institutional fund supporting specified welfare measures for workers
Question: Which statement best explains Labour welfare fund?
A. Employment-linked protection and paid leave associated with maternity under applicable law
B. Person participating in a work arrangement outside the traditional employer-employee relationship as recognized in social-security law
C. Person undertaking platform-mediated work as recognized in social-security law
D. Statutory or institutional fund supporting specified welfare measures for workers
Correct Answer: D. Statutory or institutional fund supporting specified welfare measures for workers
Explanation: Labour welfare fund: Statutory or institutional fund supporting specified welfare measures for workers
QID #26057
UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC Labour Laws Sectional Test 2026 Medium
Which of the following is best described as: Statutory or institutional fund supporting specified welfare measures for workers
A
Labour welfare fund
B
Code on Social Security, 2020
C
Inter-state migrant worker
D
Standing orders
Correct Answer: A. Labour welfare fund
Question: Which of the following is best described as: Statutory or institutional fund supporting specified welfare measures for workers
A. Labour welfare fund
B. Code on Social Security, 2020
C. Inter-state migrant worker
D. Standing orders
Correct Answer: A. Labour welfare fund
Explanation: The correct answer is Labour welfare fund. Statutory or institutional fund supporting specified welfare measures for workers
QID #26056
UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC Labour Laws Sectional Test 2026 Medium
Which statement best explains Labour inspection?
A
Worker who migrates across states for employment as covered by applicable labour regulation
B
Authority appointed to mediate and promote settlement of industrial disputes
C
Lump-sum terminal benefit generally linked to length of service under applicable law
D
Regulatory process for checking compliance with labour standards
Correct Answer: D. Regulatory process for checking compliance with labour standards
Question: Which statement best explains Labour inspection?
A. Worker who migrates across states for employment as covered by applicable labour regulation
B. Authority appointed to mediate and promote settlement of industrial disputes
C. Lump-sum terminal benefit generally linked to length of service under applicable law
D. Regulatory process for checking compliance with labour standards
Correct Answer: D. Regulatory process for checking compliance with labour standards
Explanation: Labour inspection: Regulatory process for checking compliance with labour standards
QID #26055
UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC Labour Laws Sectional Test 2026 Medium
Which of the following is best described as: Regulatory process for checking compliance with labour standards
A
Labour inspection
B
Minimum wage
C
Maternity benefit
D
Payment of wages
Correct Answer: A. Labour inspection
Question: Which of the following is best described as: Regulatory process for checking compliance with labour standards
A. Labour inspection
B. Minimum wage
C. Maternity benefit
D. Payment of wages
Correct Answer: A. Labour inspection
Explanation: The correct answer is Labour inspection. Regulatory process for checking compliance with labour standards
QID #26054
UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC Labour Laws Sectional Test 2026 Medium
Which statement best explains Occupational disease?
A
Principle of non-discrimination in wages for same or similar work, subject to law
B
Regulatory process for checking compliance with labour standards
C
Legal process by which a trade union obtains registered status under applicable labour law
D
Disease caused primarily by exposure to risk factors arising from work activity
Correct Answer: D. Disease caused primarily by exposure to risk factors arising from work activity
Question: Which statement best explains Occupational disease?
A. Principle of non-discrimination in wages for same or similar work, subject to law
B. Regulatory process for checking compliance with labour standards
C. Legal process by which a trade union obtains registered status under applicable labour law
D. Disease caused primarily by exposure to risk factors arising from work activity
Correct Answer: D. Disease caused primarily by exposure to risk factors arising from work activity
Explanation: Occupational disease: Disease caused primarily by exposure to risk factors arising from work activity
QID #26053
UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC Labour Laws Sectional Test 2026 Medium
Which of the following is best described as: Disease caused primarily by exposure to risk factors arising from work activity
A
Working conditions
B
Occupational disease
C
Code on Social Security, 2020
D
Bonus
Correct Answer: B. Occupational disease
Question: Which of the following is best described as: Disease caused primarily by exposure to risk factors arising from work activity
A. Working conditions
B. Occupational disease
C. Code on Social Security, 2020
D. Bonus
Correct Answer: B. Occupational disease
Explanation: The correct answer is Occupational disease. Disease caused primarily by exposure to risk factors arising from work activity
QID #26052
UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC Labour Laws Sectional Test 2026 Medium
Which statement best explains Social security?
A
Home-based, self-employed or wage worker in the unorganized sector within statutory definitions
B
Consolidates laws relating broadly to social security benefits for workers
C
Regulatory process for checking compliance with labour standards
D
Protection provided through measures addressing income loss and contingencies such as old age, sickness and employment injury
Correct Answer: D. Protection provided through measures addressing income loss and contingencies such as old age, sickness and employment injury
Question: Which statement best explains Social security?
A. Home-based, self-employed or wage worker in the unorganized sector within statutory definitions
B. Consolidates laws relating broadly to social security benefits for workers
C. Regulatory process for checking compliance with labour standards
D. Protection provided through measures addressing income loss and contingencies such as old age, sickness and employment injury
Correct Answer: D. Protection provided through measures addressing income loss and contingencies such as old age, sickness and employment injury
Explanation: Social security: Protection provided through measures addressing income loss and contingencies such as old age, sickness and employment injury
QID #26051
UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC Labour Laws Sectional Test 2026 Medium
Which of the following is best described as: Protection provided through measures addressing income loss and contingencies such as old age, sickness and employment injury
A
Minimum wage
B
Social security
C
Gratuity
D
Trade union registration
Correct Answer: B. Social security
Question: Which of the following is best described as: Protection provided through measures addressing income loss and contingencies such as old age, sickness and employment injury
A. Minimum wage
B. Social security
C. Gratuity
D. Trade union registration
Correct Answer: B. Social security
Explanation: The correct answer is Social security. Protection provided through measures addressing income loss and contingencies such as old age, sickness and employment injury
QID #26050
UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC Labour Laws Sectional Test 2026 Medium
Which statement best explains Unorganized worker?
A
Home-based, self-employed or wage worker in the unorganized sector within statutory definitions
B
Pension benefit framework linked with eligible membership and service
C
Consolidates laws relating broadly to social security benefits for workers
D
Compensation framework for employment injury arising out of and in the course of employment
Correct Answer: A. Home-based, self-employed or wage worker in the unorganized sector within statutory definitions
Question: Which statement best explains Unorganized worker?
A. Home-based, self-employed or wage worker in the unorganized sector within statutory definitions
B. Pension benefit framework linked with eligible membership and service
C. Consolidates laws relating broadly to social security benefits for workers
D. Compensation framework for employment injury arising out of and in the course of employment
Correct Answer: A. Home-based, self-employed or wage worker in the unorganized sector within statutory definitions
Explanation: Unorganized worker: Home-based, self-employed or wage worker in the unorganized sector within statutory definitions
QID #26049
UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC Labour Laws Sectional Test 2026 Medium
Which of the following is best described as: Home-based, self-employed or wage worker in the unorganized sector within statutory definitions
A
Provident fund
B
Standing orders
C
Trade union registration
D
Unorganized worker
Correct Answer: D. Unorganized worker
Question: Which of the following is best described as: Home-based, self-employed or wage worker in the unorganized sector within statutory definitions
A. Provident fund
B. Standing orders
C. Trade union registration
D. Unorganized worker
Correct Answer: D. Unorganized worker
Explanation: The correct answer is Unorganized worker. Home-based, self-employed or wage worker in the unorganized sector within statutory definitions
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