SEBI Grade A 2025: Is 40 Marks Enough in Paper 2?

SEBI Grade A Phase 1 exam scheduled for 10th January 2026. Now the most common question doing the rounds among aspirants is: “If Phase One is only qualifying, is 40 marks in Paper 2 enough?” On paper, the answer may look like a yes. In reality, it is a clear no. In this blog, we’ll discuss this calmly, logically, and without unnecessary hype, because this is where many good candidates quietly lose their edge.

Phase One Is Qualifying but Not Casual

First things first. SEBI Grade A Phase One is qualifying in nature. The marks you score here do not get added to Phase Two. Your final selection depends entirely on Phase Two and the interview.

This single line often misleads aspirants into thinking Phase One does not matter much. That assumption is half-baked.

Phase One decides whether you even reach Phase Two. And the rules here are stricter than most people realise.

Phase One consists of two papers:

• Paper One
• Paper Two

The minimum qualifying marks are:

• Paper One: 30 marks
• Paper Two: 40 marks
• Overall combined minimum: 80 marks

This last condition is where most confusion starts.

Scoring 30 in Paper One and 40 in Paper Two gives you a total of 70 marks. And that means you are out, despite clearing both individual cut-offs.

So the real requirement is not just clearing each paper separately. You must cross 80 marks overall. That extra 10 marks has to come from somewhere.

Where Should Those Extra Marks Come From?

Now comes the strategic part. Paper One’s syllabus does not appear in Phase Two. Once Phase One is over, Paper One becomes irrelevant to your final selection. Paper Two, on the other hand, shares the same syllabus as Phase Two.

This single difference changes everything. Any extra effort you put into Paper One beyond 30 marks gives you zero long-term benefit. Any extra effort you put into Paper Two directly strengthens your Phase Two preparation.

That is why chasing high scores in Paper One makes little sense beyond securing the minimum safely.

Is 40 Marks in Paper Two Enough? Technically Yes. Practically No.

Yes, 40 marks is the minimum qualifying score for Paper Two. But treating it as a target is where aspirants go wrong.

Here’s why:

• You still need to cross the 80-mark overall threshold
• You need a buffer for unpredictable exam difficulty
• You need confidence going into Phase Two
• You need to be competitive, not just eligible

If you aim for exactly 40, even a small slip can push you below the cut-off. More importantly, it keeps you mentally underprepared for Phase Two.

Why Paper Two Deserves Maximum Focus

Paper Two is not just another qualifying paper. It is your rehearsal for Phase Two.

The concepts, questions, and thinking pattern you build here carry forward. A strong Paper Two performance means:

• Better conceptual clarity
• Faster revision for Phase Two
• Higher confidence
• Stronger psychological position among peers

This is why smart candidates treat Phase One as a merit-based filter, even if officially it is qualifying.

The Realistic and Smart Target for Paper Two

Instead of asking whether 40 marks is enough, the better question is: What score puts me in a comfortable position?

A safe and sensible target for Paper Two is:

• Minimum comfort zone: 50 marks
• Strong competitive zone: 60–65 marks

At around 60–65 marks, you are no longer just clearing Phase One. You are positioning yourself among the top candidates who move to Phase Two.

Out of roughly 5000 candidates appearing, only about 500 make it to Phase Two. This is not the stage to scrape through.

Psychological Advantage Matters More Than You Think

Exams are not only about numbers. They are also about mindset.

A candidate entering Phase Two after barely clearing Phase One carries uncertainty. A candidate entering with a solid Paper Two score carries momentum.

That confidence reflects in:

• Answer writing
• Time management
• Revision discipline
• Stress control

In competitive exams like SEBI Grade A, this psychological edge often separates selections from near-misses.

How Much Should You Aim Overall?

If you secure:

• 30–35 in Paper One
• 60–65 in Paper Two

Your combined score lands around 95–100 marks. That is a comfortable margin, not a nervous cut-off chase.

This approach reduces risk and improves preparedness for what truly matters—Phase Two.

Preparation Time Is Limited, So Prioritise Smartly

With limited days left, spreading effort equally across everything is the fastest way to dilute results.

The smarter approach is:

• Secure Paper One with minimum required effort
• Channel maximum energy into Paper Two
• Practice application-based questions
• Revise concepts that will reappear in Phase Two

Preparation is not about doing more. It is about doing what matters most at the right time.

Use the Right Resources, Not Too Many

At this stage, clarity matters more than collecting materials.

A well-structured guide that explains:

• Exam structure
• Syllabus decoding
• Previous years’ trends
• Recommended reading paths

Good resources like SEBI Study Notes, SEBI Revision Notes, Chapterwise Tests, Sampoorna – Paper 2 Current Affairs, etc., can save you weeks of confusion. Similarly, focused MCQ practice that tests concepts across all Paper Two subjects helps convert theory into exam-ready performance. The goal is not quantity. The goal is alignment with the exam.

Final Verdict

So, are 40 marks enough in SEBI Grade A Paper Two? On paper, yes. In strategy, preparation, and real competition. No! Phase One may be qualifying, but your approach to it decides how confidently you walk into Phase Two. Paper Two is your bridge, not a hurdle. Treat it accordingly and aim for a higher score than the minimum.

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