SEBI Grade A (Assistant Manager): Mock Tests, Pattern & Syllabus
Prepare for SEBI Grade A (Assistant Manager) with full-length mock tests built on the official pattern: Phase I screening, Phase II English descriptive and General stream MCQs, then the interview. Practise under timed conditions with negative marking.
- Selection stages
- 3
- Mock tests
- Soon
- Key dates
- 7 listed
- Category
- Regulatory
What is SEBI Grade A?
The Securities and Exchange Board of India (SEBI) recruits Officers in Grade A, designated Assistant Manager, through a national competitive exam. Officers work across SEBI's departments, including market regulation, investigations, enforcement, corporation finance and investor protection. They can be posted to any SEBI department and to any SEBI office in India, whatever stream they were recruited in. The role is one of the most sought-after regulatory jobs in India. Under the 2025 notification, gross monthly pay at the start of the scale in Mumbai was about Rs 1.84 lakh without accommodation.
The General stream takes most of the vacancies. It had 56 of the 110 posts in the 2025 cycle. SEBI also recruits through the Legal, Information Technology, Research, Official Language, Engineering (Electrical) and Engineering (Civil) streams. In 2025 a candidate could apply to at most two streams.
Selection stages
- Phase I (online screening): Paper 1 tests General Awareness, English, Quantitative Aptitude and Reasoning. Paper 2 covers your stream's subjects, which for the General stream are Commerce, Accountancy, Management, Finance, Costing, the Companies Act and Economics. You need 30% in Paper 1, 40% in Paper 2 and 40% overall. Phase I marks only decide who moves to Phase II.
- Phase II (online): Paper 1 is a typed English descriptive test with an essay, a precis and a comprehension. Paper 2 is the stream paper, which is objective for the General stream. Paper 1 carries one-third of the Phase II score and Paper 2 two-thirds, and you need a 50% weighted aggregate to be shortlisted.
- Phase III (interview): The final merit list weights Phase II at 85% and the interview at 15%.
Who should apply
The General stream suits candidates with a two-year Master's degree or PG diploma in any discipline, a law or engineering degree, or a CA, CFA, CS or Cost Accountant qualification. You must also meet the age limit, which in 2025 was 30 years with category relaxations. Commerce, finance and economics graduates have an edge because the Paper 2 syllabus is drawn from those subjects. Engineers and other non-commerce candidates also clear the exam regularly with structured preparation.
How to prepare with mock tests
- Start with a full-length diagnostic. Take one Phase I mock to see where you stand. Paper 1 has 80 questions in 60 minutes and Paper 2 has 50 questions in 40 minutes, so speed matters as much as accuracy.
- Respect negative marking. Each wrong answer costs a quarter of the question's marks. Use your mock analysis to find how many attempts gives you your best net score.
- Run sectional drills. Practise Accountancy, Costing and Companies Act topics in short timed sets, because these chapters reward repetition.
- Write for Phase II early. Type an essay, a precis and a comprehension each week within 60 minutes. The answers are typed on a keyboard, so typing speed matters.
- Track financial-sector news. General Awareness includes financial-sector questions, and the Finance syllabus explicitly covers recent developments.
- Review every mock. Reattempt the questions you got wrong and track your scores against the paper-wise and aggregate cut-offs, not just your total.
SEBI Grade A exam pattern
Phase I
| Paper | Section | Questions | Marks | Time (min) | Negative marking |
|---|---|---|---|---|---|
| Paper 1 | General Awareness (incl. financial sector) | 20 | 25 | 60 | 1/4 of marks |
| Paper 1 | English Language | 20 | 25 | 60 | 1/4 of marks |
| Paper 1 | Quantitative Aptitude | 20 | 25 | 60 | 1/4 of marks |
| Paper 1 | Test of Reasoning | 20 | 25 | 60 | 1/4 of marks |
| Paper 2 | General Stream: Commerce, Accountancy, Management, Finance, Costing, Companies Act, Economics | 50 | 100 | 40 | 1/4 of marks |
Phase II
| Paper | Section | Questions | Marks | Time (min) | Negative marking |
|---|---|---|---|---|---|
| Paper 1 | English Descriptive (Essay 30, Precis 30, Comprehension 40) | 3 | 100 | 60 | None (descriptive) |
| Paper 2 | General Stream: Commerce, Accountancy, Management, Finance, Costing, Companies Act, Economics | 100 | 100 | 90 | 1/4 of marks |
Phase III
| Paper | Section | Questions | Marks | Time (min) | Negative marking |
|---|---|---|---|---|---|
| Interview | Personal interview (15% weightage in final merit; Phase II 85%) | — | — | — | Not applicable |
SEBI Grade A syllabus
General Awareness (Phase I Paper 1)
- Current affairs: national and international
- Financial sector awareness (easy to moderate questions)
- Banking, capital markets and regulators
- Government schemes, budget and economy news
- Static GK
English Language (Phase I Paper 1)
- Reading comprehension
- Error spotting and sentence correction
- Fill in the blanks and vocabulary
- Para jumbles and sentence arrangement
Quantitative Aptitude (Phase I Paper 1)
- Data interpretation (tables and graphs)
- Simplification and approximation
- Number series
- Arithmetic: percentages, ratio, profit and loss, interest, time and work
Test of Reasoning (Phase I Paper 1)
- Puzzles and seating arrangement
- Syllogism and inequalities
- Blood relations, direction sense, coding-decoding
- Logical and analytical reasoning
Commerce & Accountancy
- Accounting as a financial information system
- Accounting Standards: depreciation, inventories, revenue recognition, fixed assets, foreign exchange transactions, investments
- Cash flow and fund flow statements, financial statement analysis, ratio analysis
- Share capital transactions including bonus and rights shares
- Employee stock options and buy-back of securities
- Preparation and presentation of company final accounts
Management
- Nature and scope; planning, organising, staffing, directing, controlling
- Role of a manager; leadership tasks, styles and theories
- Human resource development: concept and goals
- Motivation, morale and incentives; theories of motivation
- Communication: process, channels, barriers, role of IT
Finance
- Role and functions of financial-sector regulators
- Primary and secondary markets: forex, money, bond, equity
- Basics of derivatives: forwards, futures, swaps
- Recent developments in the financial sector; financial inclusion through technology
- Alternative sources of finance, cost-benefit analysis, PPP
- Direct and indirect taxes, GST, Finance Commission, fiscal policy, FRBM Act
- Inflation: trends, WPI and CPI, remedies
Costing
- Overview of cost and management accounting
- Methods of costing: unit, job, batch, contract, process, service costing
- Standard costing, marginal costing, budgetary control
- Lean systems: JIT, Kaizen costing, 5S, TPM, cellular manufacturing, Six Sigma, BPR
Companies Act, 2013
- Chapter III: Prospectus and allotment of securities
- Chapter IV: Share capital and debentures
- Chapter VIII: Declaration and payment of dividend
- Chapter X: Audit and auditors
- Chapter XI: Appointment and qualifications of directors
- Chapter XII: Meetings of board and its powers
- Chapter XXVII: National Company Law Tribunal and Appellate Tribunal
Economics
- Demand and supply, market structures
- National income concepts and measurement
- Classical and Keynesian approaches; consumption and investment functions; multiplier and accelerator
- Demand and supply of money, IS-LM, inflation and the Phillips curve, business cycles
- Balance of payments, foreign exchange markets, monetary and fiscal policy, NBFCs
English Descriptive (Phase II Paper 1)
- Essay writing (30 marks)
- Precis writing (30 marks)
- Reading comprehension (40 marks)
- Answers typed on keyboard within 60 minutes
Mock Baba is an independent practice platform and is not affiliated with, endorsed by or connected to Securities and Exchange Board of India (SEBI). The logo is shown only to identify the exam and belongs to its owner. Exam details are compiled from official notifications; always confirm on the official website before applying.
Frequently asked questions
How many vacancies were there in SEBI Grade A 2025?
The October 2025 notification listed 110 posts. The General stream had 56, Information Technology 22, Legal 20, Research 4, Official Language 3, Engineering (Civil) 3 and Engineering (Electrical) 2.
What is the age limit for SEBI Grade A?
In the 2025 cycle, candidates could not be older than 30 on 30 September 2025. SC/ST candidates got up to 5 years of relaxation, OBC (non-creamy layer) up to 3 years, PwBD 10 years and ex-servicemen 5 years, as per the notification.
Is there negative marking in SEBI Grade A?
Yes. A quarter of a question's marks is deducted for each wrong answer in both Phase I papers and in the objective Paper 2 of Phase II. The descriptive English paper has no negative marking.
Do Phase I marks count in the final selection?
No. Phase I is only a screening stage, and the final merit list uses Phase II (85% weightage) and the interview (15% weightage).
What are the cut-offs to clear each phase?
In Phase I you need at least 30% in Paper 1, 40% in Paper 2 and 40% overall. In Phase II you need 30% in English, 40% in Paper 2 and a 50% weighted aggregate. About three times the number of vacancies are then called for interview.
Is the syllabus the same for Paper 2 in Phase I and Phase II?
Yes, for the General stream SEBI publishes one common syllabus for both phases. Phase II tests it in more depth, with 100 questions in 90 minutes against 50 questions in 40 minutes in Phase I.
Can I write the exam in Hindi?
All papers except the English tests are set in both Hindi and English. You can also choose to take the interview in Hindi or English.
How many SEBI Grade A mock tests should I take?
Aim for at least 10 to 15 full-length Phase I mocks, plus sectional tests for Accountancy, Costing and the Companies Act. For Phase II, practise timed descriptive English every week. Analysing each mock matters more than the total number you take.
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