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SEBI Grade A

SEBI Grade A Exam Pattern: Phase I and Phase II

The latest official SEBI Grade A pattern, including General and specialist Paper II distinctions, negative marking and merit weightage.

Phase I: all streams

PaperContentMarksTime
Paper IGA including financial sector, English, Quantitative Aptitude, Reasoning10060 minutes
Paper II GeneralCommerce, Accountancy, Management, Finance, Costing, Companies Act, Economics10040 minutes
Paper II specialistSubject related to the stream10040 minutes

Phase I thresholds

The 2025 notice sets minimum Paper I 30%, Paper II 40% and aggregate 40% cutoffs; Phase I marks are used only for shortlisting. Wrong answers in both Phase I papers attract a one-fourth penalty.

Phase II

PaperGeneral streamMarksTime
Paper IEnglish descriptive test10060 minutes
Paper IICommerce, Accountancy, Management, Finance, Costing, Companies Act, Economics10090 minutes

Specialist Phase II Paper II

The 2025 notice uses distinct formats: Legal combines MCQs and descriptive questions; IT uses technical tasks; Research uses descriptive economics, financial markets and statistics; Official Language uses translation and drafting; Engineering streams use specialised MCQs. Follow the official stream annexure for the exact paper.

Final merit

Phase II has 85% and Interview 15% weightage in the 2025 notice. Phase II uses one-third Paper I and two-thirds Paper II weighting, with separate paper and aggregate cutoffs. A one-fourth penalty applies to MCQs in Phase II Paper II.

Sources