The SEBI Grade A 2025 exam will be conducted in three stages: Phase 1, Phase 2, and Interview. The Phase 1 Online Examination is scheduled for January 10, 2026, and the Phase 2 Online Examination will be held on February 21, 2026. Before starting your preparation, it’s important to understand the detailed syllabus and the highest-scoring topics to create an effective study strategy. Additionally, the Paper 1 exam contains four sections: Quantitative Aptitude, Reasoning, English Language, and General Awareness. Paper 2 tests subject-specific knowledge based on the stream you have applied for, such as General, Legal, Information Technology, Research, or Engineering. In this article, we are providing the detailed SEBI Grade A 2025 syllabus for both Phase 1 (Paper 1 and Paper 2) and Phase 2 (Paper 1 and Paper 2). The first step is to streamline your preparation and ensure comprehensive coverage of all important topics.
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SEBI Grade A Syllabus 2025
SEBI conducts the Assistant Manager exam in three stages: Phase 1, Phase 2 and Interview. Knowing SEBI Grade A Syllabus topics helps candidates to start exam preparation by prioritising important topics. The exam is conducted through online mode, stream-wise. Candidates have to attempt objective and descriptive questions in Phases 1 and 2. Avoid any guesswork in attempting questions that cause you to lose 0.25 or 1/4 marks in negative marking. In the table, candidates can get a glimpse of details on the SEBI Grade A Notification 2025.
| Exam Conducting Body | Securities and Exchange Board of India |
| Name of Exam | SEBI Grade A (Assistant Manager) |
| Mode of Exam | Online |
| SEBI Grade A 2025 Selection Process | Phase 1, Phase 2 & Interview |
| Marking Scheme | 1 Mark |
| Negative Marks | ¼ or 0.25 Mark |
| SEBI Official Website Link | www.sebi.gov.in/ |
| PM Telegram Channel Link | https://t.me/RegulatoryPM |
SEBI Grade A Exam Pattern 2025
The SEBI Grade A Exam Pattern 2025 consists of three stages: Phase 1 and Phase 2, followed by an Interview. Both phases are conducted online and are designed to test candidates’ conceptual clarity, analytical ability, and domain knowledge.
The Phase 1 exam includes two papers – Paper 1 and Paper 2.
- Paper 1 is common for all streams and tests candidates on English Language, General Awareness, Quantitative Aptitude, and Reasoning Ability.
- Paper 2 is stream-specific, covering professional knowledge based on the stream the candidate applies for (General, Legal, IT, Research, or Official Language).
Similarly, the Phase 2 exam also has two papers, with Paper 1 being common for all streams and Paper 2 focusing on stream-specific subjects as per the official SEBI Grade A 2025 Notification.
SEBI Grade A 2025 Exam Pattern for Phase 1
The Phase 1 exam is conducted online and consists of objective-type questions.
Candidates must note that both papers are compulsory.
- There shall be negative marking (1/4th of the marks assigned to the question) for Paper 1 and Paper 2 in Phase I
- There shall be a cut-off of a minimum 30% for Paper 1 (no sectional cut-off shall be there) and a cut-off of a minimum 40% for Paper 2 in Phase I.
- Candidates would need to secure a separate cut-off in each paper, as mentioned at (ii) above, as well as aggregate cut-off marks of 40% in the Phase I exam, to be shortlisted for Phase II. Marks obtained in Phase I shall be used only for shortlisting the candidates for the Phase II examination process and will not be counted for the final selection of the candidates.
- Subject to the criteria mentioned at (iii) above, all the candidates who clear Phase I shall be shortlisted for Phase II. The list of candidates shortlisted for Phase II will be made available on the SEBI website.
Phase 1 Exam Pattern Overview
| Paper | Streams/ Subjects | MaximumMarks | Duration | Cut off |
| Paper 1 | All Streams: Multiple choice questions on the subjects viz. General Awareness (including some questions related to Financial Sector of easy to moderate difficulty level), English Language, Quantitative Aptitude and Test of Reasoning. | 100 | 60 minutes | 30% |
| Paper 2 | General Stream: Multiple-choice questions on subjects Commerce, Accountancy, Management, Finance, Costing, Companies Act and Economics. | 100 | 40 minutes | 40% |
| Aggregate Cut off | 40% | |||
Note: Phase 1 is qualifying in nature, but candidates must meet both sectional and
Overall cut-offs to be eligible for Phase 2.
SEBI Grade A 2025 Exam Pattern for Phase 2
Candidates who clear Phase 1 will appear for Phase 2, which also consists of two papers – Paper 1 and Paper 2. The exam is conducted online.
Phase 2 – Paper 1 (Common for All Streams)
| Paper | Number of Questions | Maximum Marks | Duration | Cut-Off | Weightage |
| English (Descriptive Test) – Tests drafting skills through Essay (30 marks), Precis (30 marks), and Comprehension (40 marks) | 3 | 100 | 60 minutes | 30% | 1/3rd |
Phase 2 – Paper 2 (Stream-Specific Papers)
For General Stream:
There shall be a cut-off of a minimum 30% for Paper 1 and a cut-off of minimum 40% for Paper 2 in Phase II.
| Paper | Streams/ Subjects | Maximum Marks | Duration | Cut off | Weigh tage |
| Paper 1 | All streams: English (Descriptive Test) to test the drafting skills | 100 | 60minutes | 30% | 1/3rd |
| Paper 2* | General Stream: Multiple choice questions on subjects Commerce, Accountancy, Management, Finance, Costing, Companies Act and Economics. | 100 | 90minutes | 40% | 2/3rd |
| Aggregate Cut off | 50% | ||||
SEBI Grade A Syllabus 2025
The SEBI Grade A Exam 2025 is one of the most competitive exams in the regulatory sector. Conducted by the Securities and Exchange Board of India (SEBI), this exam is held for the post of Assistant Manager (Grade A) in various streams such as General, Legal, Information Technology, Research, and Official Language.
Before beginning preparation, it’s essential to understand the pattern and detailed syllabus for each section.
Exam Stages
The SEBI Grade A Exam is conducted in three phases:
| Phase | Papers | Type | Description |
| Phase I | Paper 1 (Common for all) + Paper 2 (Stream-specific) | Objective | Screening test for Phase II |
| Phase II | Paper 1 (English Descriptive) + Paper 2 (Stream-specific) | Descriptive & Objective | Main phase for merit calculation |
| Phase III | Interview | – | Personality and domain knowledge test |
Final Selection = Phase II (85%) + Interview (15%)
SEBI Grade A Syllabus 2025
The SEBI Grade A syllabus 2025 for phase 1 is designed to test a candidate’s overall aptitude and general awareness. It consists of two papers – Paper 1 (common to all streams) and Paper 2 (stream-specific). Paper 1 covers topics such as English language, quantitative aptitude, reasoning ability, and general awareness. Paper 2 tests a candidate’s knowledge of a specific stream, such as commerce, law, IT, or research. Candidates can check the details Phase 1 syllabus in the section below.
SEBI Grade A Phase 1 Paper 1 Syllabus
SEBI Grade A syllabus 2025 for Phase 1 paper 1 includes 4 Subjects: Quantitative Aptitude, Reasoning Ability, General Awareness, and English Language. Phase 1 for Paper 2 includes General stream questions related to management, commerce, finance, etc.
| Quantitative Aptitude | Reasoning & Computer Aptitude | English | General Awareness |
| Vedic Maths | Inequalities | Noun | Evolution of Banking in India |
| Number System | Blood Relation | Pronoun | Know Your Central Bank (RBI) |
| Simplification | Directions | Verb | Monetary Policy Committee (MPC) |
| Approximation | Rankings | Adjectives | International Financial Institutions |
| Quadratic Equations | Alpha Numeric Series | Adverbs | Types of Accounts, ATMs, Cheques |
| Number Series (Missing and Wrong) | Miscellaneous Reasoning (Prelims) | Preposition | Payment Systems in India |
| Ratio and Proportion | Coding-Decoding | Conjunction | Currency Management |
| Partnership | Syllogisms | Subject-verb agreement | Money Market & Capital Market |
| Problem on Ages | Puzzles | Tenses | Shares and Debentures |
| Percentage | Seating Arrangements | Active-Passive | PSL and Types of Risk in banking |
| Profit and Loss | Data Sufficiency | Direct and Indirect | Miscellaneous |
| Averages | Input and Output | Error Detection | |
| Simple and Compound Interest | Miscellaneous Reasoning (Mains) | Reading Comprehension | |
| Time Speed and Distance (Boats and Stream; Trains) | Computer Aptitude | Cloze test | |
| Time and Work (Pipes and Cistern) | Critical reasoning | Sentence completion | |
| Probability | Phrase Correction | ||
| Permutation and Combination | Para Completion | ||
| Mensuration | Connectors | ||
| Data Sufficiency | Para Jumbles | ||
| Data Interpretation | Descriptive (Letter and Essay) | ||
| Quantity Comparison |
SEBI Grade A Phase 1 Paper 2 Syllabus
Candidates preparing for the SEBI exam should know the list of topics covered in the SEBI Grade A Syllabus 2025 for Phase 1 Paper 2. We have listed topics to study from sections Commerce & Management, Management, Finance, Economics, Costing, and Companies Act in table format.
| Commerce & Management | Management | Finance | Economics | Costing | Companies Act |
| Accounting as a financial information system | Management: its nature and scope | Financial System | Demand and Supply | Overview of Cost and Management Accounting – Introduction to Cost and Management Accounting, Objectives and Scope of Cost and Management Accounting. | The Companies Act, 2013 – Specific reference to Chapter III, Chapter IV, Chapter VIII, Chapter X, Chapter XI, Chapter XII and Chapter XXVII. |
| Accounting Standards with specific reference to Accounting for Depreciation, Inventories, Revenue Recognition, Fixed Assets, Foreign Exchange Transactions, Investments. | The Management Processes | Role and Functions of Regulatory bodies in Financial Sector. | Market Structures | Methods of Costing – Single Output/ Unit Costing, Job Costing, Batch Costing, Contract Costing, Process/ Operation Costing, Costing of Service Sectors. | |
| Cash Flow Statement | Planning, Organization, Staffing, Directing and Controlling | Financial Markets | National Income: Concepts and Measurement | Basics of Cost Control and Analysis – (i) Standard Costing, (ii) Marginal Costing, (iii) Budget and Budgetary Control. | |
| Fund flow statement | The Role of a Manager in an Organization | Primary and Secondary Markets (Forex, Money, Bond, Equity, etc.), functions, instruments, and recent developments. | Classical & Keynesian Approach Determination of output and employment | Lean System and Innovation | |
| Financial statement analysis | Leadership: The Tasks of a Leader | Basics of Derivatives | Consumption Function | Introduction to Lean System | |
| Ratio analysis | Leadership Styles | Forward, Futures and Swap | Investment Function | Just-in-Time (JIT) | |
| Accounting for Share Capital Transactions including Bonus Shares, Right Shares. | Leadership Theories | Recent Developments in the Financial Sector | Multiplier and Accelerator | Kaizen Costing | |
| Employees Stock Option and Buy-Back of Securities. | A successful Leader versus an effective Leader | Financial Inclusion | Demand and Supply for Money | 5 Ss | |
| Preparation and Presentation of Company Final Accounts. | Human Resource Development: Concept of HRD | Use of technology | IS-LM, Inflation and Phillips Curve | Total Productive Maintenance (TPM) | |
| Goals of HRD | Alternate Source of Finance | Business Cycles | Cellular Manufacturing/ One-Piece Flow Production Systems | ||
| Motivation, Morale and Incentives | Private and social cost-benefit, Public-Private Partnership | Balance of Payments | Six Sigma (SS) | ||
| Communication | Direct and Indirect taxes | Foreign Exchange Markets | Introduction to Process Innovation and Business Process Re-engineering (BPR). | ||
| Non-tax sources of Revenue, GST, Finance Commission, Fiscal Policy, Fiscal Responsibility and Budget Management Act (FRBM) | Inflation | ||||
| Inflation | Monetary and Fiscal Policy | ||||
| Definition, trends, estimates, consequences, and remedies (control): WPI, CPI – components and trends. | Non-banking Financial Institutions |
SEBI Grade A Syllabus for Phase 2
The SEBI Grade A syllabus 2025 for Stage 2 focuses on assessing a candidate’s in-depth knowledge, analytical skills, and writing ability. It consists of two papers, Paper 1 (Descriptive English) and Paper 2 (Subject-Specific). Paper 1 is common to all subjects and tests candidates’ ability to express their ideas clearly and effectively through essay writing, precis writing, and reading comprehension. Paper 2 is based on the candidate’s chosen subject matter – such as General, Legal, IT, Research, or Official Language and includes advanced, subject-specific topics. For example, the general subject matter includes areas such as Economics, Management, Finance, Costing, and Companies Act.
SEBI Grade A Phase 2 Paper 1 Syllabus
- English (Descriptive Test) – Tests drafting skills through Essay (30 marks), Precis (30 marks), and Comprehension (40 marks)
SEBI Grade A Phase 2 Paper 2 Syllabus
SEBI Gade A Syllabus for Commerce & Management
- Accounting as a financial information system
- Accounting Standards with specific reference to Accounting for Depreciation, Inventories, Revenue Recognition, Fixed Assets, Foreign Exchange Transactions, Investments.
- Cash Flow Statement
- Fund flow statement
- Financial statement analysis
- Ratio analysis
- Accounting for Share Capital Transactions including Bonus Shares, Right Shares.
- Employees Stock Option and Buy-Back of Securities.
- Preparation and Presentation of Company Final Accounts.
SEBI Gade A Syllabus for Management
- Management: its nature and scope
- The Management Processes
- Planning, Organization, Staffing, Directing and Controlling
- The Role of a Manager in an Organization
- Leadership: The Tasks of a Leader
- Leadership Styles
- Leadership Theories
- A successful Leader versus an effective Leader
- Human Resource Development: Concept of HRD
- Goals of HRD
- Motivation, Morale and Incentives
- Communication
SEBI Gade A Syllabus for Finance
- Financial System
- Role and Functions of Regulatory bodies in Financial Sector.
- Financial Markets
- Primary and Secondary Markets (Forex, Money, Bond, Equity, etc.), functions, instruments, and recent developments.
- Basics of Derivatives
- Forward, Futures and Swap
- Recent Developments in the Financial Sector
- Financial Inclusion
- Use of technology
- Alternate Source of Finance
- Private and social cost-benefit, Public-Private Partnership
- Direct and Indirect taxes
- Non-tax sources of Revenue, GST, Finance Commission, Fiscal Policy, Fiscal Responsibility and Budget Management Act (FRBM)
- Inflation
- Definition, trends, estimates, consequences, and remedies (control): WPI, CPI – components and trends.
SEBI Gade A Syllabus for Economics
- Demand and Supply
- Market Structures
- National Income: Concepts and Measurement
- Classical & Keynesian Approach Determination of output and employment
- Consumption Function
- Investment Function
- Multiplier and Accelerator
- Demand and Supply for Money
- IS-LM, Inflation and Phillips Curve
- Business Cycles
- Balance of Payments
- Foreign Exchange Markets
- Inflation
- Monetary and Fiscal Policy
- Non-banking Financial Institutions
SEBI Gade A Syllabus for Costing
- Overview of Cost and Management Accounting – Introduction to Cost and Management Accounting, Objectives and Scope of Cost and Management Accounting.
- Methods of Costing – Single Output/ Unit Costing, Job Costing, Batch Costing, Contract Costing, Process/ Operation Costing, Costing of Service Sectors.
- Basics of Cost Control and Analysis – (i) Standard Costing, (ii) Marginal Costing, (iii) Budget and Budgetary Control.
- Lean System and Innovation
- Introduction to Lean System
- Just-in-Time (JIT)
- Kaizen Costing
- 5 Ss
- Total Productive Maintenance (TPM)
- Cellular Manufacturing/ One-Piece Flow Production Systems
- Six Sigma (SS)
- Introduction to Process Innovation and Business Process Re-engineering (BPR).
SEBI Gade A Syllabus for Companies Act
- The Companies Act, 2013 – Specific reference to Chapter III, Chapter IV, Chapter VIII, Chapter X, Chapter XI, Chapter XII and Chapter XXVII.
SEBI Grade A Selection Process 2025
The Securities Exchange & Board of India conducts the SEBI Grade A 2025 Exam for 97 Assistant Manager posts. The selection process to recruit Assistant Managers comprises three stages: Phase 1, Phase 2, and the Interview. Candidates who successfully qualify for Phase 1 and 2 online exams appear in the interview. The final merit of candidates is prepared considering the marks scored in Phase 2 and the Interview.
- Phase 1: There are two papers, i.e. Paper I and Paper II, in the SEBI Grade A Phase 1 exam. A common paper is conducted, asking questions from General Awareness, Quantitative Aptitude, English, and Reasoning. Paper II is a stream-wise paper for candidates.
- Phase 2: SEBI Grade A Phase 2 is conducted, testing English Descriptive skills and knowledge. Paper I covers questions from English Descriptive. Paper II is stream-wise and covers objective and descriptive type questions.
- Interview: The interview round is conducted by SEBI authorities to test the communication skills and knowledge of candidates. An Assistant Manager position requires technical knowledge and interaction skills.
SEBI Grade A Syllabus PDF
For your convenience, we are providing the PDF link of the SEBI Grade A Syllabus 2025. Download the detailed syllabus PDF to view the complete, official step-wise details for all subjects, including Commerce, Management, IT, Law, Research, and Official Language. Use this link to directly access the syllabus document and ensure your preparation is in line with the topics specified by SEBI.
SEBI Grade A Syllabus 2025 PDF Link
SEBI Grade A Non-Video Course
SEBI Grade A Non-Video Course covers Phase 1 and 2 Mock Tests with Study & Revision Notes. Candidates get this course to start preparing for SEBI Grade A. All questions are prepared according to the latest paper pattern. Revision Notes are effective for last-minute revision before the exam. SEBI Grade A Mock Test for Phases 1 & 2 based on paper pattern and detailed solutions.
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SEBI Grade A Other Article
| SEBI Grade A Syllabus 2025 | SEBI Grade Salary 2025 |
| SEBI Grade A Cut Off 2025 | SEBI Grade A Study Plan 2025 |
SEBI Grade A Syllabus 2025
The syllabus includes topics in General Awareness, English, Quantitative Aptitude, Reasoning, and stream-specific subjects like Finance, Management, Economics, Legal, IT, and Research, as per the chosen stream.
No, Phase I Paper 1 is common, but Paper 2 and Phase II are stream-specific (General, Legal, IT, Research, Official Language).
Phase I is mostly basic/medium level, common or stream-specific. Phase II is advanced, analytical, and more application-oriented.
Yes, both in Phase I (objective) and Phase II (descriptive) – topics include comprehension, grammar, vocabulary, précis, and essay writing.
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