SEBI Grade A Syllabus and Exam Pattern 2026: Phase 1, Phase 2 & Streams
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Updated: Aug 18, 2026
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Aspiring to build a career with the capital markets regulator? Understanding the comprehensive SEBI Grade A Syllabus and Exam Pattern 2026 is your primary step toward cracking the Officer Grade A (Assistant Manager) examination. The recruitment cycle orchestrated by the Securities and Exchange Board of India (SEBI) evaluates candidates across multiple streams like General, Legal, IT, Research, Official Language, and Engineering through a rigorous multi-tier evaluation framework.
SEBI Grade A 2026 Selection Structure Overview
The selection pipeline comprises three primary stages: Phase 1 (screening), Phase 2 (comprehensive testing), and the Phase 3 Interview. Question papers across all stages are available in English and Hindi, with the exception of the English language test.
Phase 1 is strictly qualifying in nature. It consists of two objective papers carrying a total of 200 marks. A negative marking of 1/4th of the marks assigned to a question applies for incorrect objective responses.
Phase 1 Paper I & II Blueprint
Paper I: Max marks 100, duration 60 minutes, 30% cut-off. Focuses on General Awareness (including easy-to-moderate financial sector questions), English Language, Quantitative Aptitude, and Reasoning.
Paper II: Max marks 100, duration 40 minutes, 40% cut-off. Focuses on stream-specific technical or core management/finance subjects.
Aggregate Cut-off: Candidates must score a minimum aggregate of 40% in Phase 1 to qualify.
SEBI Grade A Exam Pattern 2026 Phase I
Paper
Stream/Subjects
Max. Marks
Duration
Cut Off
Paper I
All Streams: General Awareness (Financial Sector), English Language, Quantitative Aptitude, Test of Reasoning.
100
60 minutes
30%
Paper II
General Stream: Commerce, Accountancy, Management, Finance, Costing, Companies Act, Economics.
100
40 minutes
40%
Paper II
Legal, IT, & Official Language stream: Specialized subjects related to the stream.
100
40 minutes
40%
Paper II
Research Stream: Economics, Econometrics, Statistics, Finance, and Commerce.
100
40 minutes
40%
SEBI Grade A Exam Pattern: Phase 2
Phase 2 marks contribute significantly to the final merit list. It comprises Paper I (English Descriptive Test) with a 1/3rd weightage and Paper II with a 2/3rd weightage. The aggregate cut-off for Phase 2 is set at 50%.
SEBI Grade A Exam Pattern 2026 Phase II
Paper
Stream/ Subjects
Max. Marks
Duration
Cut Off
Weightage
Paper I
All streams: English (Descriptive Test)
100
60 minutes
30%
1/3rd
Paper II
General Stream: Commerce, Accountancy, Management, Finance, Costing, Companies Act, Economics
100
40 minutes
40%
2/3rd
Paper II
Legal & Official Language Stream: Specialised subjects
100
40 minutes
40%
2/3rd
Paper II
Research Stream: Economics, Econometrics, Statistics, Finance, Commerce
100
40 minutes
40%
2/3rd
Paper II
Information Technology Stream: Coding Test (C++/JAVA/Python)
100
180 minutes
40%
2/3rd
Specialized Stream Patterns: Legal and IT
For the Legal Stream, Phase 2 Paper II contains 70 MCQs and 3 descriptive questions (10 marks each). Hindi typing options include Inscript and Remington (GAIL) keyboard layouts. For the Information Technology Stream, Paper II consists entirely of a Coding Test in C++, Java, or Python running for 180 minutes.
SEBI Grade A Exam Pattern For Phase II for Legal Stream
Paper
Stream/Subjects
Max. Marks
Duration
Cut Off
Weightage
Paper I
English (Descriptive)
100
60 minutes
30%
1/3rd
Paper II
70 MCQs on Specialized Legal Subject
100
60 minutes
40%
2/3rd
Paper II
3 Descriptive Questions (Inscript / Remington Hindi typing supported)
100
60 minutes
40%
2/3rd
SEBI Grade A Interview & Final Selection
Candidates numbering up to 3 times the total vacancies are shortlisted for Phase 3 (Interview). The final merit list is curated using an 85:15 ratio, assigning 85% weightage to Phase 2 marks and 15% weightage to the Interview.
Checklists: Subjects & Specialized Streams
Make sure your preparation covers all required domains across the respective papers and specialized streams:
SEBI Grade A Phase 1 Paper 1 Subjects
General Awareness (including Financial Sector questions of easy to moderate difficulty)
English Language
Quantitative Aptitude
Test of Reasoning
SEBI Grade A Phase 1 & 2 Paper 2 General Stream Subjects
Commerce
Accountancy
Management
Finance
Costing
Companies Act
Economics
Specialized Streams Available
General
Legal
Information Technology
Civil Engineering
Electrical Engineering
Research Streams
Official Language Stream
Detailed Stream Syllabi Tables
A. Commerce & Accountancy
Topics
Details
Accounting as an Information System
Understanding accounting as a financial information system.
Accounting Standards
Standards related to Depreciation, Inventories, Revenue Recognition, Fixed Assets, Foreign Exchange Transactions, and Investments.
Financial Analysis
Cash Flow Statement, Fund Flow Statement, Financial Statement Analysis, and Ratio Analysis.
Share Capital Transactions
Accounting for Share Capital, Bonus Shares, and Rights Shares.
Employee Benefits
Accounting for Employee Stock Options (ESOPs) and Buy-back of Securities.
Company Final Accounts
Preparation and presentation of final company accounts.
B. Management
Topics
Details
Principles of Management
Nature, scope, and functions – Planning, Organising, staffing, directing, and Controlling.
Managerial Role
Role and responsibilities of a manager in an organization.
Leadership
Leadership tasks, styles, theories, and the difference between successful and effective leaders.
Human Resource Development (HRD)
Concept, objectives, and goals of HRD.
Motivation & Morale
Theories of motivation, ways to motivate employees, factors affecting morale, and incentives.
Communication
Process, channels (oral/written, verbal/non-verbal), barriers, and IT in communication.
C. Finance
Section
Details
Financial System
Role and functions of regulatory bodies in the financial sector.
Chapters III, IV, VIII, X, XI, XII, and XXVII of the Companies Act, 2013.
F. Economics
Topics
Details
Microeconomics
Demand and Supply, Market Structures, National Income – Concepts and Measurement.
Macroeconomic Theories
Classical and Keynesian approaches, Consumption and Investment Functions, Multiplier-Accelerator, IS-LM Model.
Inflation & Business Cycles
Inflation causes and remedies, Phillips Curve, and Business Cycles.
External Sector
Balance of Payments and Foreign Exchange Markets.
Economic Policies
Monetary Policy, Fiscal Policy, and Non-Banking Financial Institutions (NBFIs).
Step-by-Step Preparation Guide for SEBI Grade A 2026
Follow this structured preparation guide to systematically conquer the syllabus and maximize your score:
Understand the SEBI Grade A exam pattern and marking scheme thoroughly.
Analyse the syllabus and create a study plan, gathering the best SEBI Grade A study material for each subject.
Allocate time wisely based on subject weightage.
Take regular mock tests and solve SEBI Grade A Previous Year Papers.
Stay updated with current affairs related to finance.
Focus on securities market topics in depth.
Revise regularly and create concise notes.
Join study groups or online forums for discussions.
Recommended Books for SEBI Grade A 2026
Subject
Recommended Books
Quantitative Aptitude
RS Aggarwal, Arun Sharma
Reasoning
MK Pandey
English
SP Bakshi
General Awareness
Monthly Current Affairs, Financial Newspapers
Finance & Management
Prasanna Chandra, Robbins
Economics
Ramesh Singh
Commerce
NCERT & Standard Commerce Books
Frequently Asked Questions (FAQs)
Phase I: On-line screening examination consisting of two papers of 100 marks each
Phase II: On-line examination consisting of two papers of 100 marks each
Phase III: Interview
Marks of Phase II and III will be used for final selection.
There will be two papers each for Phase I and Phase II. All the questions will be MCQ’s except that of language paper. The exam will be of 100 marks for each paper.
Paper I of Phase I & Phase II, and General paper of Phase I & Phase II will be common to all the candidates.
Yes, there is a negative marking of 1/4 for every incorrect answer in the objective questions.
The selection will be made on the marks secured in Phase II and Interview for the final selection for the candidates as a SEBI Grade A Officer.
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