The Securities and Exchange Board of India (SEBI) conducts the SEBI Grade A exam to recruit Assistant Managers in various streams such as General, Legal, IT, Research, and Official Language. The selection process consists of three stages: Phase 1 (Preliminary Exam), Phase 2 (Main Exam), and Phase 3 (Personal Interview). Candidates must clear each stage to move forward in the selection process. This article provides a clear overview of the SEBI Grade A exam pattern and structure.
What is the SEBI Grade A exam pattern?
The SEBI Grade A Exam has three stages Phase 1 (Prelims) with two objective papers for screening, Phase 2 (Mains) with one descriptive and one objective paper, and an Interview. Marks from Phase 2 and the Interview (85:15 ratio) are used for final selection, while Phase 1 is only qualifying. Negative marking applies in all objective papers.
| Stage | Paper | Subjects/Focus | Type | Marks | Time |
|---|
| Phase 1 (Prelims) | Paper 1 | General Awareness, English, Quantitative Aptitude, Reasoning | Objective | 100 | 60 min |
| Paper 2 | Stream-specific topics | Objective | 100 | 60 min |
| Phase 2 (Mains) | Paper 1 | Descriptive English | Descriptive | 100 | 60 min |
| Paper 2 | Stream-specific topics | Objective | 100 | Varies |
| Interview | – | – | – | 100 | – |
Attempt SEBI Grade A Mock Test
What is the selection process for SEBI Grade A officers?
The selection process has three stages Phase 1 (Online Screening Test), Phase 2 (Online Examination), and Phase 3 (Interview). The detailed selection process are as follows:
| Phase | Details | Key Points / Cut-offs |
|---|
| Phase I – Online Screening | Paper 1: General Awareness, English, Quant, Reasoning (100 marks, 60 min) Paper 2: Stream-specific subjects (100 marks, 40 min) | Cut-off: 30% (P1), 40% (P2) Aggregate: 40% Negative marking: ¼ per wrong answer Qualifying only |
| Phase II – Online Exam | Paper 1: Descriptive English (Essay, Precis, Comprehension) - 100 marks, 60 min Paper 2: Stream-specific (MCQs/Descriptive/Coding) - 100 marks | Cut-off: 30% (P1), 40% (P2) Aggregate: 50% Negative marking: ¼ (MCQs) Weightage: Paper 1 – 1/3, Paper 2 – 2/3 |
| Phase III – Interview | Conducted in Hindi or English | Weightage: Phase II - 85%, Interview - 15% |
| Additional (Engg. – Electrical and Civil) | Experience-based marks | Up to 3.75 marks for relevant post-qualification experience |
What is the SEBI Grade A phase 1 exam pattern?
SEBI Grade A Phase 1 online exam consists of two objective papers conducted on the same day. Paper 1 is common for all candidates, while Paper 2 is based on the stream chosen by the candidate. The exam includes multiple-choice questions (MCQs) with negative marking, and except for the English section, all questions are available in both English and Hindi.
| Paper | Stream / Subject | Sections / Subjects Covered | No. of Questions | Maximum Marks | Language | Duration | Cut-off |
|---|
| Paper 1 | Common for all streams | General Awareness (including Financial Sector) | 20 | 25 | Bilingual (English & Hindi) | 60 Minutes | 30% |
| English Language | 20 | 25 | English only |
| Quantitative Aptitude | 20 | 25 | Bilingual |
| Reasoning Ability | 20 | 25 | Bilingual |
| Total (Paper I) | 80 | 100 | |
| Paper 2 | General Stream | Commerce, Accountancy, Management, Finance, Costing, Companies Act, Economics | 50 | 100 | Bilingual | 40 Minutes | 40% |
| Specialized Streams (Legal, IT, Research, Official Language, Engineering - Civil/Electrical) | Questions from respective specialized subjects | 50 | 100 | As applicable | 40 Minutes | 40% |
- Exam type: Objective-type multiple choice questions (MCQs)
- Answer options: Each question has five options with only one correct answer
- Attempt method: Candidates must select the correct option using a mouse click
- Negative marking: 1/4th of the marks will be deducted for every wrong answer
- Score calculation: Based on correct answers after applying negative marking
- Normalization: Scores are normalized across sessions to adjust difficulty levels
- Cut-off (overall): Minimum 40% aggregate required by combining Paper 1 and Paper 2
- Sectional cut-off: May be applied separately for individual papers and overall score
What is the SEBI Grade A phase 2 exam pattern?
The SEBI Grade A Phase 2 exam consists of Paper 1 (Common for all streams) and Paper 2 (Stream-specific). Paper 1 is descriptive and tests English drafting skills. Paper 2 varies depending on the chosen stream and can be objective or descriptive.
Also Check: SEBI Grade A Syllabus
All streams Paper 1 (English Descriptive)
This paper is common to all streams and designed to assess the candidate's writing, comprehension, and drafting skills. Candidates need to type their answers using a computer keyboard.
| Paper | Max Marks | Duration |
|---|
| Essay, Precis, Comprehension | 100 | 60 min |
- Cut-off: 30%
- Weightage: 1/3rd of Phase 2 marks
- Type: Descriptive (answers to be typed)
General Stream Paper 2 (Objective Type)
This paper evaluates the candidate's knowledge in Commerce, Accountancy, Management, Finance, Costing, Companies Act, and Economics through objective questions.
| Paper | Max Marks | Duration |
|---|
| MCQs on Commerce, Accountancy, Management, Finance, Costing, Companies Act, Economics | 100 | 90 min |
- Cut-off: 40%
- Weightage: 2/3rd of Phase 2 marks
- Type: Objective (multiple-choice)
- Penalty: 1/4th marks deducted for each wrong answer
Legal Stream Paper 2 (Objective + Descriptive)
This paper tests candidates on legal knowledge. It consists of an objective section and a descriptive section on specialized legal subjects.
| Paper | Max Marks | Duration |
|---|
| MCQs on stream-specific legal topics | 70 | 60 min |
| Descriptive questions on specialized legal subjects (3 × 10 marks each) | 30 | 60 min |
- Cut-off: 40%
- Weightage: 2/3rd of Phase 2 marks
- Type: Objective + Descriptive (answers to be typed)
Explore SEBI Grade A Courses
Information Technology Stream Paper 2 (Objective Type)
This paper assesses IT skills including programming logic, debugging, syntax, dry runs, and data analysis. All questions are objective.
| Paper | Max Marks | Duration |
|---|
| MCQs: logic flow, debugging, syntax, program dry run, data analysis | 100 | 180 min |
- Cut-off: 40%
- Weightage: 2/3rd of Phase 2 marks
- Type: Objective (multiple-choice)
Research Stream Paper 2 (Descriptive)
This paper evaluates research aptitude and practical knowledge in financial markets, economics, and statistics through descriptive questions.
| Paper | Max Marks | Duration |
|---|
| Section A: Financial Markets (2 of 4 questions, 25 marks each) | 50 | 120 min |
| Section B: Economics (2 of 4 questions, 12.5 marks each) | 25 | 120 min |
| Section C: Statistics (1 of 3 questions, 25 marks) | 25 | 120 min |
- Cut-off: 40%
- Weightage: 2/3rd of Phase 2 marks
- Type: Descriptive (answers to be typed)
Official Language Stream Paper 2 (Descriptive)
This paper tests translation and comprehension skills in English and Hindi, including general and technical/legal texts, notings, and sentences.
| Paper | Max Marks | Duration |
|---|
| English ↔ Hindi translation (simple paragraph, 150 words) | 40 | 90 min |
| English ↔ Hindi translation (technical/legal paragraph) | 40 | 90 min |
| Notings (5 each, English ↔ Hindi) | 10 | 90 min |
| Short sentences translation (English ↔ Hindi) | 10 | 90 min |
- Cut-off: 40%
- Weightage: 2/3rd of Phase 2 marks
- Type: Descriptive
Engineering Stream (Electrical & Civil) Paper 2 (Objective)
This paper assesses engineering knowledge and problem-solving skills through objective questions specific to Electrical or Civil engineering.
| Paper | Max Marks | Duration |
|---|
| MCQs: stream-specific engineering questions | 100 | 40 min |
- Cut-off: 40%
- Weightage: 2/3rd of Phase 2 marks
- Type: Objective
Also Check: SEBI Grade A Information Handout
SEBI Grade A Interview
The SEBI Grade A Interview is the final stage of the Assistant Manager selection process. Candidates who qualify in Phase 2 are called for the interview, where their subject knowledge, communication skills, and suitability for the role are assessed. The final merit list is prepared with 85% weightage for Phase 2 and 15% weightage for the interview.
| Particulars | Weightage | Maximum Marks |
|---|
| Interview | 75% | 11.25 |
| Relevant Experience* | 25% | 3.75 |
| Total | 100% | 15 |
| *Applicable only for Legal, Engineering (Electrical), and Engineering (Civil) streams. |
Note: Candidates must fill in details of their relevant post-qualification experience in the online application form to be considered for the additional marks during the interview process.
Check out SEBI Grade A Salary
What is the marking scheme for the SEBI Grade A exam?
SEBI Grade A exam has a clear marking system across all stages. In Phase 1, the exam is of 200 marks, with 1 mark for each correct answer and a 0.25-mark negative marking for wrong answers. In Phase 2, negative marking applies only in the objective section of Paper 2 and may differ based on the selected stream. For final selection, Phase 2 carries 85% weightage, while the Personal Interview carries 15% weightage in the merit list.
| Criteria | Considered Marks |
|---|
| For wrong answers | Phase 1 (Paper 1 & 2): –¼ mark
Phase 2 (Paper 2): –¼ mark (except IT stream) |
| For unanswered questions | 0 marks (No penalty) |
Check out SEBI Grade A Cut Off
Key Takeaways
Below are the key takeaways summarizing the SEBI Grade A Exam Pattern:
| Category | Details |
|---|
| Exam Conducting Body | Securities and Exchange Board of India (SEBI) |
| Post | Assistant Manager (Grade A) |
| Streams / Disciplines | General, Legal, Information Technology (IT), Research, Official Language, Engineering (Electrical) |
| Selection Stages | Three Phases: • Phase 1 – Prelims (Screening) • Phase 2 – Mains (Online Exam) • Phase 3 – Interview |
| Phase 1 (Prelims) | • Two Objective Papers (100 marks each) • Paper 1 – General Awareness, English, Quantitative Aptitude, Reasoning (60 min, Cut-off: 30%) • Paper 2 – Stream-specific (40 min, Cut-off: 40%) • Aggregate Cut-off: 40% • Negative Marking: ¼ per wrong answer • Qualifying only – marks not counted for final merit |
| Phase 2 (Mains) | • Two Papers (100 marks each) • Paper 1 – Descriptive English (Essay, Precis, Comprehension) – 60 min, Cut-off: 30% • Paper 2 – Stream-specific (Objective/Descriptive/Coding) – Cut-off: 40% • Aggregate Cut-off: 50% • Weightage – Paper 1: 1/3, Paper 2: 2/3 • Negative Marking: ¼ (MCQs only, except IT stream) |
| Stream-wise Paper 2 (Phase 2) | • General: MCQs on Commerce, Management, Finance, Economics – 90 min • Legal: 70 MCQs + 3 Descriptive Qs – 120 min • IT: MCQs based on the stream – 180 min • Research: Descriptive on Economics, Financial Markets, Statistics – 120 min • Official Language: Translation (Eng↔Hindi) – 90 min • Engineering (Electrical): MCQs on stream subjects – 40 min • Engineering (Civil): MCQs on stream subjects – 40 min |
| Interview (Phase 3) | • Conducted in Hindi or English • Weightage – Phase 2: 85%, Interview: 15% • Candidates up to 3× the vacancies are shortlisted |
| Negative Marking | • Phase 1 (Paper 1 & 2): –¼ mark per wrong answer • Phase 2 (Paper 2 Objective): –¼ mark (except IT stream) • No penalty for unanswered questions |
| Language of Papers | All papers (except English) are bilingual – Hindi & English |
| Admit Cards & Schedule | • Separate hall tickets will be issued for Phase 2 • Paper 2 for multiple streams held in different shifts |
| Experience Weightage | Applicable for Civil & Electrical Streams up to 3.75 marks for relevant experience |
| Final Selection | Based on combined marks of Phase 2 (85%) and Interview (15%) |
