The SEBI Grade A Phase 1 exam was held on 10 January 2026. Based on feedback from candidates, both Paper 1 and Paper 2 were of moderate difficulty.
Questions were asked from topics such as puzzles, DI, and RC. The specialized streams also had moderately difficult questions. In this blog, we have shared a detailed exam analysis, including the overall difficulty level, section-wise review, and expected good attempts.
SEBI Grade A Difficulty Level, 10th January 2026
The SEBI Grade A Phase 1 exam comprises two papers. Paper 1 is common for all streams and covers questions from General Awareness (including the financial sector), English Language, Quantitative Aptitude, and Reasoning. Phase 1 Paper 2 is of 100 marks and is based on the stream selected by the candidates. The overall difficulty level, as per candidate feedback, is provided below:
Phase 1 paper 1
The details of the difficulty level of the questions in the Phase 1 Paper 1 exam are as follows:
| Sections | Difficulty Level (Shift 1) |
| Reasoning | Moderate |
| Quantitative Aptitude | Moderate |
| General Awareness with question related to Financial Sector | Moderate to Difficult |
| English | Moderate |
| Overall | Moderate |
Phase 1 paper 2
The details of the difficulty level of the questions in the Phase 1 Paper 2 exam are as follows:
| Stream | Difficulty Level |
| Professional Knowledge – General Stream (Commerce, Accountancy, Management, Finance, Costing, Companies Act, Economics) | Moderate |
| Legal Stream | Easy to Moderate |
| IT Stream | TBA |
| Electrical Engineering Stream | TBA |
| Civil Engineering Stream | TBA |
| Research Stream | TBA |
| Official Language Stream | TBA |
| Overall | TBA |
SEBI Grade A Good Attempts, 10th January 2026
Based on aspirants’ reviews, the number of good attempts for each section for the Phase 1 exam has been released. These figures help aspirants understand the exam level and plan their cutoff expectations.
Phase 1 paper 1
The details of the number of the questions asked in the Phase 1 Paper 1 exam are as follows:
| Sections | Good Attempt (Shift 1) |
| Reasoning | 15 – 17 |
| Quantitative Aptitude | 15 – 16 |
| General Awareness with question related to Financial Sector | 10 – 12 |
| English | 16 – 18 |
| Overall | 56 – 63 |
Phase 1 paper 2
The details of the number of the questions asked in the Phase 1 Paper 2 exam are as follows:
| Stream | Good Attempt (Shift 1) |
| Professional Knowledge – General Stream (Commerce, Accountancy, Management, Finance, Costing, Companies Act, Economics) | 35-40 |
| Legal Stream Arbitration Language, Ban Act, Section 145, Composite negligence, prescribed period, CPC 6A, tempering junction | 35-45 |
| IT Stream C++ constructor, python, aggregate function, warehouse loadary, sorting | TBA |
| Electrical Engineering Stream | TBA |
| Civil Engineering Stream | TBA |
| Research Stream | TBA |
| Official Language Stream | TBA |
SEBI Grade A Section Wise Exam Analysis
The detailed section wise SEBI Grade A Exam Analysis has been updated in the subsections below, check them out.
SEBI Grade A Exam Analysis – Reasoning Ability
The topics from which SEBI Grade A Phase 1 questions were asked in the Reasoning section has been updated based on candidates’ reviews.
- Word rearrangement – 1 Qs
- Month based puzzle – 4 to 5 Qs
- Line based puzzle – 4 to 5 Qs
- Box based puzzle – 2 to 3 Qs
- Ranking and order based puzzle – 3 to 4 Qs
- Statement and Assumption – 1 to 2 Qs
SEBI Grade A Exam Analysis – Quantitative Aptitude
The topics from which SEBI Grade A Phase 1 questions were asked in the Quantitative Aptitude section has been updated based on based on candidates’ reviews.
- Approximation – 5 Qs
- Wrong Number Series – 4 to 5 Qs
- DI (Line Graph) –
- Caselete DI
- Profit and Loss
- Mixture and Allegation
- SI and CI
- Mensuration
SEBI Grade A Exam Analysis – General Awareness
The topics from which SEBI Grade A Phase 1 questions were asked in the General Awareness section has been updated based on candidates’ reviews.
- On PV Sindhu
- NIC (Full Form)
- NSDL
- CBIC Chairman
- NASC
- DSC Chairman
- Bio technology
- 16th Finance commission (duration)
- Ranu Majumdar instrument she played
- BIRSA 101 – Sickle Cell
- Paradip port
- PARI Scheme
- India AI model Bharat Gen
- RIIT
- Gold medals in Asian Archery Championship
SEBI Grade A Exam Analysis – English
The topics from which SEBI Grade A Phase 1 questions were asked in the English section has been updated based on candidates’ reviews.
- Error – 4 to 5 Qs (Verb, Adjective, Adverb)
- Double Fillers – 4 to 5 Qs
- Sentence Improvement – 2 to 3 Qs(Moderate)
- RC – 5+1 Qs Synonyms (Mars Planet)
- Para Jumble – 4 to 5 Qs (Easy to Moderate)
SEBI Grade A Exam Analysis – Stream Specific
The topics from which SEBI Grade A Phase 1 questions were asked in the Stream Specific section on 10 January 2026 based on candidates’ reviews.
| Section | Key Topics Covered | No. of Questions |
| Management | Hern and Blancad, Manager vs leader, Staffing vs organizing, Expectancy theory, Pareto analysis, Henry Fayol, Planning, Mintzberg | TBA |
| Finance | Statement based NBFSC, UIN, FDI Limit, XBRI, FRBM, T Bill, Bond duration, Strike and spot difference, GST invoicing, TDS, Fiscal Deficit | 8-9 |
| Commerce & Accountancy | TBA | TBA |
| Costing | TBA | TBA |
| Companies Act | Min/Max umber of directors, Corporate social responsibilities, Red hearing prospectus, NCLT, Board meeting | 4-5 |
| Economics | Law of demand, Slope of Curve, GDP deflator, real GDP, price index, GDP, NNP disposable income, M3 value, union budget | TBA |
Also Check: SEBI Grade A Phase 2 Analysis
SEBI Grade A Phase 1 Exam Comparison – Key Insights & Trends
The SEBI Grade A Phase 1 exam has shown a largely stable difficulty pattern over recent years, with minor shifts in subject focus and topic weightage. While the overall level remains Easy to Moderate / Moderate, the exam increasingly tests conceptual clarity, time management, and topic prioritisation rather than surprise difficulty.
In the subsection below we have provided a clear comparison of trends observed across 2023 and 2024 Phase 1 exams.
SEBI Grade A Phase 1 exam difficulty trend
The SEBI Grade A Phase 1 exam has been mostly the same in difficulty over the years, with no sudden or major changes. The paper is not very tough, but it checks how well candidates can manage time, stay accurate, and choose the right questions.
In recent exams, sections like Reasoning and Quantitative Aptitude have become more time-taking, which means good time management now plays an important role in clearing the exam.
| Year | Overall Difficulty Level | Key Observation |
| 2023 | Easy to Moderate | Balanced paper with predictable topics |
| 2024 | Moderate | Slightly more time-consuming sections |
SEBI Grade A phase 1 paper 1 exam difficulty trend
The SEBI Grade A 2024 Phase 1 Paper 1 was moderately difficult, with more moderate to difficult questions than easy ones. Out of the total questions, only 30-34 were easy, while 38-46 were of moderate to difficult level. Sections like Quantitative Aptitude and Reasoning had a higher difficulty, making the paper challenging.
| Paper 1 Subjects | Easy | Difficult | Moderate |
| Reasoning | 6–7 | 3-4 | 8–9 |
| Quantitative Aptitude | 6–7 | 2-3 | 9-10 |
| English | 10–11 | 2-3 | 5–6 |
| General Awareness | 8–9 | 5-6 | 4–5 |
SEBI Grade A phase 1 paper 2 General Stream exam difficulty trend
Paper 2 was mostly easy to moderate in nature, with very few difficult questions. Management, Finance, and Companies Act contributed the highest number of questions, and most of them were straightforward. Commerce, Accounting, Costing, and Economy had a balanced mix of easy and moderate questions. Overall, the paper included around 48 to 50 questions and was manageable for well-prepared candidates.
| Paper 2 Subjects | Easy | Moderate | Difficult |
| Management | 5–6 | 3–4 | 0 |
| Finance | 6–7 | 3–4 | 1 |
| Commerce and Accounting | 4–5 | 2–3 | 0 |
| Costing | 4–5 | 2–3 | 0 |
| Companies Act | 9–10 | 0 | 0 |
| Economy | 3–4 | 3–4 | 1–2 |
Reasoning Ability difficulty trend in SEBI Grade A phase 1
The Reasoning section has remained moderate overall, but the time required to solve questions has increased. The focus is clearly on set-based questions rather than individual ones.
| Year | Difficulty Level | Key Trend |
| 2023 | Easy to Moderate | Mix of puzzles and standalone questions |
| 2024 | Moderate | More lengthy seating arrangement sets |
- Seating Arrangement and Puzzles dominate.
- Fewer direct questions like syllogism and inequality.
- Time management is critical.
Types of Reasoning questions asked in SEBI Grade A phase 1 2024
The Reasoning Ability section mainly focused on puzzles and seating arrangement questions, which together formed the largest share of the paper. Analytical reasoning also had a few questions, while blood relation questions appeared in limited numbers. Topics like alphanumeric and alphabetical series had only one question each. Overall, the section included around 17 to 20 questions and was balanced and manageable for prepared candidates.
| Topic | Approx. Number of Questions |
| Puzzle | 4–5 |
| Analytical Reasoning | 2–3 |
| Seating Arrangement | 6–7 |
| Alphanumeric Series | 1 |
| Blood Relation | 3 |
| Alphabetical Series | 1 |
- The overall difficulty level of the Reasoning section in 2024 was moderate, with only 4 difficult questions.
- Around 60% of the questions came from Seating Arrangement and Puzzles, making them the most important topics.
- These questions were time-consuming and usually appeared in sets of 4–5 questions.
- One seating arrangement with 6 people and different fruits/vegetables was easy to solve, while another involving uncertain persons and north-facing direction was more time-consuming.
- Analytical Reasoning questions were mainly based on Statement and Inference.
- Blood Relations had 3 questions in 2024, although none were asked in 2022.
- Syllogism and Inequality questions did not appear in the exam.
Quantitative Aptitude difficulty trend in SEBI Grade A phase 1
Quantitative Aptitude continues to test concept clarity with calculation speed. While the difficulty is not high, questions are often lengthy and set-based.
| Year | Difficulty Level | Key Trend |
| 2023 | Easy to Moderate | Balanced arithmetic and series |
| 2024 | Moderate | DI sets take more time |
- Data Interpretation has high weightage.
- Number Series questions are more tricky.
- Arithmetic topics appear selectively.
Types of Quant questions asked in the SEBI Grade A phase 1 2024 exam
The Quantitative Aptitude section in the SEBI Grade A 2024 exam was moderately challenging and focused more on calculation-based questions. Most questions were solvable for candidates with strong basics, and only a few were truly difficult. A large number of the section tests data interpretation skills, making speed and accuracy very important.
| Topic | Approx. Number of Questions |
| Data Interpretation | 8–9 |
| Quadratic Equations | 3–4 |
| Number Series | 2 |
| Compound Interest | 1 |
| Mixture & Alligation | 1 |
| Profit & Loss | 1 |
| Ages | 1 |
| Number System | 1 |
- The overall difficulty level was moderate, with very few tough questions.
- Nearly half of the questions were from Data Interpretation (DI), making it the most important topic.
- DI questions were lengthy and appeared in sets of 4–5 questions, requiring careful time management.
- Quadratic Equations were simple and could be solved quickly.
- Number Series questions were comparatively tricky and took more time.
- One DI set was table-based and calculation-heavy, while another caselet-based DI was easier to attempt.
- Topics like Partnership, Time & Work, Simple Interest, and Percentage were not asked, but they should not be ignored in preparation.
English Language difficulty trend in SEBI Grade A phase 1
English has been the most stable and scoring section over the years. The difficulty level has not changed significantly.
| Year | Difficulty Level | Key Trend |
| 2023 | Easy to Moderate | Grammar and vocabulary focus |
| 2024 | Easy to Moderate | RC with direct questions |
Types of English questions asked in SEBI Grade A phase 1 2024
The English section of the SEBI Grade A 2024 exam was easy to moderate and largely scoring. The questions were straightforward and could be completed comfortably within the given time. Candidates with a good command of basic grammar, vocabulary, and reading skills found this section manageable.
| Topic | Approx. Number of Questions |
| Reading Comprehension | 6–7 |
| Fill Ups | 4–5 |
| Error Detection | 4 |
| Rearrangement | 4 |
- Reading Comprehension had the highest weightage, though fewer questions were asked compared to earlier years.
- The RC passage was simple and factual, based on humans beyond Earth and related challenges.
- Most questions tested basic grammar and vocabulary, making the section easy to attempt.
- No questions appeared from Cloze Test, Idioms and Phrases, Odd One Out, or Double Fillers.
- The section was less time-consuming and offered good scoring opportunities.
- English emerged as the most scoring section among Quant, Reasoning, and English.
- Regular practice of MCQs and mock tests helps improve accuracy and confidence in this section.
General Awareness difficulty trend in SEBI Grade A phase 1
General Awareness has shifted towards finance-oriented and recent current affairs, making revision consistency important.
| Year | Difficulty Level | Key Trend |
| 2023 | Easy to Moderate | Broad CA coverage |
| 2024 | Moderate | More finance-linked questions |
- Last 3–6 months current affairs are crucial.
- Government schemes appear regularly.
- Questions are factual and direct.
Types of GA questions asked in SEBI Grade A phase 1 2024
The General Awareness section in SEBI Grade A 2024 was moderate in difficulty and largely based on current events and basic finance knowledge. The questions were direct and not lengthy, making the section less time-consuming for well-prepared candidates.
| Topic | Approx. Number of Questions |
| Government Schemes | 3–4 |
| Finance Static | 3–4 |
| Finance Current Affairs | 2–3 |
| Reports and Indices | 2–3 |
| First in News | 2 |
| Awards | 2 |
| Sports | 1 |
| Places in News | 1 |
- The overall difficulty level of GA was moderate and easy to manage.
- Government Schemes carried the highest weightage and should be a priority, especially schemes linked to the financial sector and SEBI.
- Most questions were direct and factual, with no long statement-based questions.
- Candidates with a basic understanding of finance found the section easier to attempt.
- A large portion of questions came from recent current affairs (3–4 months), with a few from earlier months.
- Regular practice through mock tests helps assess preparation and improve accuracy.
- Solving daily or weekly current affairs quizzes is important to stay updated and score well in this section.
Professional Knowledge difficulty trend in SEBI Grade A phase 1
Professional Knowledge papers are conceptual rather than tricky, with difficulty varying slightly by stream.
| Stream | 2023 Difficulty | 2024 Difficulty | Trend |
| Legal | Moderate | – | Law concepts tested directly |
| General Stream | – | Easy to Moderate | Static topics dominate |
- Questions focus on basic concepts.
- Fewer numerical or case-based questions.
- Static subjects have consistent weightage.
Types of questions asked in SEBI Grade A phase 1 paper 2 General Stream
The SEBI Grade A 2024 Phase 1 Paper 2 was largely easy to moderate in difficulty, making it a scoring paper for well-prepared aspirants. Subjects like Companies Act and Costing were predominantly easy and concept-driven, while Finance and Economics required a deeper conceptual understanding with selective focus on high-weight topics. Overall, candidates who had strong fundamentals, regular revision, and mock test practice found the paper manageable and scoring.
| Section | Key Topics Covered | No. of Questions |
| Management | General Management, HRD, Communication, Leadership | 9-10 |
| Finance | Bonds, Primary & Secondary Market (Equity & Debt), Financial Institutions, Financial Inclusion, Basics of Derivatives (Futures/Forwards/Swaps), Functions of SEBI | 8-9 |
| Commerce & Accountancy | Fund Flow Statement, Cash Flow Statement, Ratio Analysis, Recording of Transactions, Final Accounts, AS for PPE | 6-7 |
| Costing | Lean System & Innovation, Overview of Cost & Management Accounting, Standard Costing, Marginal Costing, Activity-Based Costing | 5-6 |
| Companies Act | Chapter IV (Share Capital & Debentures), Chapter XII (Board Meetings), Chapter XXVII (NCLT & NCLAT), Audit & Auditors, Dividend, Directors | 8-9 |
| Economics | Inflation & Phillips Curve, National Income, Demand & Supply, IS-LM Model | 8-9 |
The SEBI Grade A 2024 Phase 1 Paper 2 General Stream included questions across multiple subjects with varying difficulty levels. While sections like Companies Act and Costing were relatively easy and high-scoring, areas such as Finance and Commerce & Accountancy required a clear understanding of concepts.
Economics and Management had a mix of conceptual and analytical questions, testing both theory and application. The table below summarises the key topics in each section along with their difficulty level, helping aspirants prioritise their preparation effectively.
| Difficulty Level | Section | Key Topics (One Line) |
| Easy (high scoring, basic prep) | Companies Act | Share Capital & Debentures, NCLT & NCLAT, Board Meetings, Dividend & Directors – focus on factual provisions |
| Costing | Lean System & Innovation, Standard Costing, Marginal Costing, Activity-Based Costing – formula-based application | |
| Moderate (concept clarity required) | Finance | Bonds, Debt & Equity Market, Financial Inclusion, Financial Institutions, Basics of Derivatives, Functions of SEBI – conceptual questions |
| Commerce & Accountancy | Cash Flow & Fund Flow Statements, Ratio Analysis, Final Accounts, AS for PPE – focus on concepts over numericals | |
| Mixed (conceptual & analytical) | Economics | Inflation & Phillips Curve, National Income, Demand & Supply, IS-LM Model – theory-based questions |
| Management | General Management, HRD, Leadership, Communication – straightforward conceptual questions |
Topic trends observed in SEBI Grade A phase 1
Some topics in the SEBI Grade A Phase 1 exam appear almost every year and carry higher weight, while a few topics are asked less frequently or irregularly. Knowing this pattern helps candidates focus more on important areas and avoid spending too much time on low-priority topics. The table below shows a clear comparison.
| Topic Category | Section | Important Topics | Exam Trend |
| High-Weight & Repeating Topic | Reasoning Ability | Seating Arrangement, Puzzles | Asked almost every year |
| High-Weight & Repeating Topic | Quantitative Aptitude | Data Interpretation, Number Series | Consistent and time-taking |
| High-Weight & Repeating Topic | English Language | Reading Comprehension, Grammar | Stable and scoring |
| High-Weight & Repeating Topic | General Awareness | Government Schemes, Finance Current Affairs | Frequently asked |
| High-Weight & Repeating Topic | Professional Knowledge | Core concepts of Finance, Management, Law | Concept-based focus |
| Less Asked Topic | Reasoning Ability | Syllogism, Inequality | Asked rarely in recent exams |
| Less Asked Topic | English Language | Cloze Test, Idioms & Phrases | Inconsistent appearance |
| Less Asked Topic | Professional Knowledge | Deep numerical accounting problems | Reduced weightage |
Also Check: SEBI Grade A Phase 2 Exam Date
SEBI Grade A Previous Year Exam Analysis
The SEBI Grade A phase 1 exam was successfully conducted on 27th July 2024 and we did the complete exam analysis right after the conduction of the exam. In the sections below, you will find the difficulty level and section wise questions, so check it out.
SEBI Grade A Exam Analysis 2024 – Difficulty Level
The overall difficulty level was Moderate to Difficult. Some sections were straightforward while in others, they had to face challenges. Here is a brief overview:
| Sections | Difficulty Level |
| Reasoning | Difficult |
| Quantitative Aptitude | Difficult |
| General Awareness | Moderate to Difficult |
| English | Moderate to Difficult |
| Professional Knowledge General Stream (Commerce, Accountancy, Management, Finance, Costing, Companies Act and Economics) | Moderate |
| Legal Stream | Easy to Moderate |
| IT Stream | Easy to Moderate |
| Electrical Engineering Stream | Easy to Moderate |
| Research Stream | Easy to Moderate |
| Official Language Stream | Easy to Moderate |
| Overall | Moderate |
Download SEBI Grade A 300+ MCQs Ebook
SEBI Grade A Exam Analysis – Section Wise
The detailed section wise SEBI Grade A Exam Analysis has been updated in the subsections below, check them out.
SEBI Grade A Exam Analysis: Reasoning Ability
Some questions were time taking and lengthy. Overall it was moderate.
- Blood Relation – 3 questions
- Linear Seating Arrangement With Vegetable Variable
- Data Sufficiency – 2 questions
- Alphanumeric Series – 2 questions
- Square Seating Arrangement
- Puzzle
- Word Pairing
- Circular Seating Arrangement
- Linear Seating Arrangement (Uncertain Number of Persons)
Download 100+ Important Economic and Finance Terms PDF
SEBI Grade A Exam Analysis: Quantitative Aptitude
Overall, the QA section was moderate.
- Quadratic Equation – 4
- Wrong Number Series- 4
- Tabular Data Interpretation
- Caselet DI
- Arithmetic
SEBI Grade A Exam Analysis: General Awareness
The current events from the preceding six months were focussed. Overall it was easy to moderate.
- Stagflation
- FIFA World Cup
- Nelson Mandela Award
- Banking Awareness
- World Trade Organization
- Travel and Tourism Index – Not among the Top 5 Countries
- REITS
- National Saving Certificate – Maximum Limit
- Women’s World Cup
- Full Form of SID
- South Africa Nobel Prize in India – Film Director
- Celebrity Brand Valuation Report
SEBI Grade A Exam Analysis: English
The English Language section was easy to moderate.
- Reading Comprehension
- Sentence Rearrangement
- Double Fillers-3-4 Questions
SEBI Grade A Exam Analysis – Management
The difficulty level was moderate.
- Performance Improvement
- Scheduling – When to Start and When to Stop
- School of Management
- Cultural Barrier
- Potential Appraisal
- Organizing
- Management Transformation
- A Leader Who Listens to Everyone
- Upskilling and Reskilling
FAQs
The SEBI Grade A Phase 1 exam is scheduled to be held on 10 January 2026.
Based on previous years, the overall difficulty level is expected to be moderate.
Phase 1 consists of two papers Paper 1 (common) and Paper 2 (stream-specific).
Paper 1 includes Reasoning, Quantitative Aptitude, English Language, and General Awareness (Financial Sector).
The stream-specific (Paper 2) is expected to be of moderate difficulty, varying slightly by stream.
- SEBI Grade A Phase 2 Information Handout 2026, Download PDF
- SEBI Grade A Shift Timings 2026, Phase 2 Reporting & Exam Time
- NABARD Grade A 25th January 2026 Analysis, Mains Exam Trend
- NABARD, RBI Officers Pension 2026 Revised, Check Details
- Life of RBI Grade B Officer, Complete RBI Grade B Officer Lifestyle
- IRDAI Grade A Selection Process 2026, Assistant Manager Selection Process
Hi, I’m Aditi. I work as a Content Writer at Oliveboard, where I have been simplifying exam-related content for the past 4 years. I create clear and easy-to-understand guides for JAIIB, CAIIB, and UGC exams. My work includes breaking down notifications, admit cards, and exam updates, as well as preparing study plans and subject-wise strategies.
My goal is to support working professionals in managing their exam preparation alongside a full-time job and to help them achieve career growth.