ICSE Class 10 Insurance — Mock Test (2027)
Free online mock test for Insurance (ICSE Class 10 Commercial Applications) — 10 competency-based questions based on the latest CISCE 2027 syllabus, with instant marking. Try the samples below, then take the full test free.
What to expect: This mock test covers key concepts from the Insurance chapter — including application-based and competency-focused questions aligned with how ICSE actually sets the paper.
Tip: Attempt without notes first to identify gaps, then review explanations for any wrong answers. Retake after a few days for best retention.
Sample questions
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1.Which function of insurance involves distributing losses among all insured members through premium contributions?
- A.Providing Certainty
- B.Risk Sharing
- C.Capital Formation
- D.Encouraging Savings
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2.A supermarket owner insured its cold storage facility for ₹2 lakhs. A power failure caused the refrigeration system to stop, leading to the spoilage of frozen goods worth ₹5 lakhs. The insurer compensated the owner for the losses. Later, it was discovered that the power failure was due to negligence by the electricity supplier. Why did the insurer file legal action against the electricity supplier?
- A.To recover the compensation paid due to the supplier’s negligence.
- B.To penalize the supplier for causing the power failure.
- C.To transfer the liability of the loss to the supplier.
- D.To enforce a new contract with the electricity supplier.
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3.Which of the following is NOT a benefit of taking an insurance policy?
- A.Provides financial protection against various risks.
- B.Guarantees elimination of all potential risks and losses.
- C.Offers tax benefits on premiums paid under the Income Tax Act.
- D.Encourages regular savings through endowment plans.
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4.What does the principle of ‘Utmost Good Faith’ in insurance require?
- A.Only the insurer must disclose all relevant facts.
- B.Both parties must truthfully disclose all relevant facts.
- C.The insured can withhold information to lower premiums.
- D.The insurer can deny claims without justification.
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5."Insurance is a system that helps reduce financial uncertainties by sharing risk among many people."
- a.True
- b.False
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