UPSC EPFO APFC 2026 Audit & Insurance: Theory + 300 Practice MCQs Each | Complete Preparation Guide for Special Subject

UPSC EPFO APFC 2026 Audit & Insurance is a focused preparation guide for aspirants who want to build strong conceptual understanding and practice exam-oriented questions in two important areas of the Special Subject syllabus: Audit and Insurance.

This book combines clear theory with 300 carefully designed practice MCQs on Audit and 300 practice MCQs on Insurance, making it suitable for both concept building and intensive revision.

What You’ll Find Inside

AUDIT THEORY

• Meaning, nature and objectives of auditing
• Types of audit
• Auditor: qualifications, appointment, rights and duties
• Verification and valuation of assets
• Vouching and audit evidence
• Audit reports and types of opinions
• Internal, cost, secretarial, tax, information systems and performance audit
• Companies Act-related concepts and professional responsibilities

INSURANCE THEORY

• Evolution and development of insurance in India and globally
• Meaning, nature, functions and usefulness of insurance
• Types and classification of insurance
• Principles of utmost good faith, insurable interest, indemnity, contribution, subrogation and proximate cause
• IRDAI and the regulatory framework
• Life insurance and LIC
• General insurance and GIC
• Insurance and economic development
• PFRDA and pension-related concepts
• Important government insurance and social-security schemes

600 Practice MCQs

The practice section contains:

300 Audit MCQs + 300 Insurance MCQs

Questions are designed around:

• Conceptual understanding
• Statement-based questions
• Application-oriented situations
• Acts and regulatory provisions
• Important institutions and schemes
• Fact-based revision
• UPSC-style conceptual traps
• Detailed explanations for learning from every question

This book is particularly useful for UPSC EPFO APFC 2026 aspirants, while also being relevant for candidates preparing for other competitive examinations where Auditing, Insurance, Labour/Social Security and financial-sector concepts are tested.

Build concepts. Test yourself. Identify weak areas. Revise strategically.

Important Note

This book is designed as an exam-preparation resource and should be used alongside the latest official notifications, syllabus, legislation, regulations and government sources wherever applicable.