100+ Free IFSCA Grade A Practice Questions

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2026 Statistics

Key Facts: IFSCA Grade A Exam

3 phases

Selection Stages

IFSCA Notification

200 marks

Phase I Total (2 papers x 100)

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1/4

Negative Marking per Wrong Answer

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40%

Phase I Aggregate Cut-off

IFSCA Notification

30 yrs

Upper Age Limit

IFSCA Notification

IFSCA Grade A is a three-phase national exam for Assistant Manager officers. Phase I is an online screening test with two MCQ papers of 100 marks each: Paper 1 (60 minutes) covers General Awareness, English, Quant, and Reasoning, while General Stream Paper 2 (40 minutes) covers financial regulatory subjects. A one-fourth negative marking applies, and Phase I needs 30% in Paper 1, 40% in Paper 2, and a 40% aggregate.

Sample IFSCA Grade A Practice Questions

Try these sample questions to test your IFSCA Grade A exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Identify the grammatically correct sentence among the options below.

A.Neither the members of the board nor the chairman was present at the regulatory briefing.

B.Neither the members of the board nor the chairman were present at the regulatory briefing.

C.Neither the members of the board or the chairman was present at the regulatory briefing.

D.Neither the members of the board nor the chairman have been present at the regulatory briefing.

Explanation: When two subjects are joined by 'neither... nor', the verb agrees with the closer subject. Since 'the chairman' is singular and closer to the verb, the singular verb 'was' is grammatically correct.

2Select the correct option to fill in the blank: The IFSCA has proposed guidelines that aim to ________ the integration of domestic financial institutions into GIFT City.

A.facilitate

B.hinder

C.procrastinate

D.nullify

Explanation: The context of promoting and growing GIFT City indicates that the guidelines would make the integration easier or help it happen, which aligns with 'facilitate'.

3Which of the following is closest in meaning to the word 'VIGILANT' as used in a financial regulation context?

A.watchful

B.negligent

C.complacent

D.indifferent

Explanation: In financial regulation, being 'vigilant' means keeping careful watch for possible danger, fraud, or non-compliance, which is synonymous with 'watchful'.

4Find the error in the following sentence: 'The committee, along with the executive directors, are reviewing the draft regulations on aircraft leasing before submission.'

A.along with the

B.are reviewing the

C.on aircraft leasing

D.before submission

Explanation: The subject of the sentence is the singular noun 'The committee'. Parenthetical expressions like 'along with the executive directors' do not change the subject's number, so the singular verb 'is reviewing' must be used instead of 'are reviewing'.

5Choose the word that is most nearly opposite in meaning to 'AMBIGUOUS' in legal or regulatory texts.

A.equivocal

B.precise

C.obscure

D.vague

Explanation: AMBIGUOUS means open to more than one interpretation or not having one obvious meaning. The opposite is 'precise', which means marked by exactness and accuracy of expression.

6Identify the incorrect usage of prepositions in the sentence: 'The framework was designed in compliance to international standards and was approved on Friday.'

A.in compliance to

B.international standards

C.approved on

D.on Friday

Explanation: The correct idiomatic prepositional phrase is 'in compliance with' rather than 'in compliance to'.

7Which of the following idioms means 'to do something in the easiest, cheapest, or fastest way, often compromising quality'?

A.cut corners

B.bite the bullet

C.burn the midnight oil

D.spill the beans

Explanation: To 'cut corners' means to undertake a task in a quick, cheap, or easy way by omitting rules or neglecting quality standards.

8Read the following short passage and answer the question: 'The growth of GIFT City relies on a regulatory framework that matches international financial capitals while providing tailored tax benefits. By positioning itself as a sandbox, it permits cross-border capital flow with fewer structural barriers.' What does the word 'sandbox' imply in this context?

A.A testing ground where companies can test innovations under relaxed rules.

B.A physically confined zone with barriers preventing capital flight.

C.A children's play area within the GIFT City financial district.

D.A highly restrictive environment where only state agencies can operate.

Explanation: In financial regulation, a 'sandbox' refers to a regulatory sandbox—a framework that allows fintech developers and financial institutions to test innovative products, services, or business models in a live environment under a relaxed regulatory regime.

9Fill in the blank: The authority ________ the new reporting standards last month, forcing all financial institutions in the zone to update their systems.

A.promulgated

B.renounced

C.rescinded

D.repudiated

Explanation: To 'promulgate' means to promote or make widely known, particularly a law or decree. In a regulatory context, it refers to officially putting a law or framework into effect.

10Choose the correct spelling of the word that refers to a person who acts as a link between two parties to resolve a dispute.

A.Intermediary

B.Intermedery

C.Intermediery

D.Intermedairy

Explanation: The correct spelling is 'Intermediary', derived from the Latin 'intermedius'. It is used frequently in finance to describe financial intermediaries like banks or brokers.

About the IFSCA Grade A Exam

The IFSCA Assistant Manager (Officer Grade A) Exam is the national recruitment examination conducted by the International Financial Services Centres Authority to select Officers in Grade A across General and specialist streams. Selection has three stages: Phase I, an online screening exam with two objective MCQ papers of 100 marks each; Phase II, an online mains exam combining a descriptive English paper with stream-specific papers; and Phase III, an interview. Phase I Paper 1 (common to all streams) tests General Awareness including the financial sector, English Language, Quantitative Aptitude, and Reasoning, while the General Stream Paper 2 covers Financial Sector, Management, Economics, Costing, Companies Act, and IFSCA Act / GIFT City regulations. Phase I carries a one-fourth negative marking and is qualifying only, with final selection based on Phase II (85%) and the interview (15%).

Questions

100 scored questions

Time Limit

Phase I Paper 1: 60 minutes; Phase I Paper 2: 40 minutes (each paper 100 marks)

Passing Score

Phase I: 30% in Paper 1, 40% in Paper 2, and 40% aggregate (qualifying)

Exam Fee

Rs. 1000 (General/OBC/EWS); Rs. 100 (SC/ST/PwBD) (International Financial Services Centres Authority (IFSCA))

IFSCA Grade A Exam Content Outline

~25%

General Awareness (incl. Financial Sector)

Current affairs, financial-sector and banking-system awareness, union budget, economic survey, and regulatory bodies.

~15%

Quantitative Aptitude

Percentages, profit and loss, simple and compound interest, ratios, averages, time and work, speed-distance, and data interpretation.

~15%

Test of Reasoning

Puzzles, seating arrangements, coding-decoding, blood relations, syllogisms, and logical deductions.

~15%

English Language

Grammar, vocabulary, reading comprehension, error spotting, sentence completion, and cloze tests.

~30%

Financial Sector & Regulatory Framework (Paper 2)

IFSCA Act 2019, history and regulations of GIFT IFSC, financial markets, management, accounting, and economic frameworks.

How to Pass the IFSCA Grade A Exam

What You Need to Know

Passing score: Phase I: 30% in Paper 1, 40% in Paper 2, and 40% aggregate (qualifying)
Exam length: 100 questions
Time limit: Phase I Paper 1: 60 minutes; Phase I Paper 2: 40 minutes (each paper 100 marks)
Exam fee: Rs. 1000 (General/OBC/EWS); Rs. 100 (SC/ST/PwBD)

Keys to Passing

Complete 500+ practice questions
Score 80%+ consistently before scheduling
Focus on highest-weighted sections
Use our AI tutor for tough concepts

IFSCA Grade A Study Tips from Top Performers

1Master Quantitative Aptitude and Reasoning early; they are scoring sections in Phase I Paper 1 once your speed and accuracy improve.

2Build a strong base in financial awareness and Indian regulatory bodies to handle the financial-sector questions in Paper 1.

3For Paper 2, prioritise high-weight subjects such as Finance, Management, and IFSCA Act / GIFT City rules.

4Practice under the one-fourth negative-marking rule so you learn when to attempt and when to skip a doubtful question.

5Use timed mock tests with the actual paper durations (60 minutes for Paper 1, 40 minutes for Paper 2) to build exam stamina.

6Keep a current-affairs log of the last 6-8 months focused on finance, economy, budget, and capital-market developments.

Frequently Asked Questions

What is the IFSCA Grade A exam?

IFSCA Grade A is the national recruitment exam conducted by the International Financial Services Centres Authority to select Officers in Grade A (Assistant Manager). It has three stages: a Phase I online screening exam, a Phase II online mains exam, and a Phase III interview.

What is the exam pattern of IFSCA Grade A Phase I?

Phase I has two objective MCQ papers of 100 marks each. Paper 1 (common to all streams) covers General Awareness, English Language, Quantitative Aptitude, and Reasoning in 60 minutes. Paper 2 (stream-specific) is 40 minutes. There is a one-fourth negative marking.

What subjects are in the General Stream Paper 2?

For the General Stream, Paper 2 is an objective MCQ paper covering Financial Sector, Management, Economics, Costing, Companies Act, and IFSCA Act / GIFT City regulations.

What are the cut-off requirements in Phase I?

To qualify Phase I, a candidate must score a minimum of 30% in Paper 1, 40% in Paper 2, and an aggregate of 40%. Phase I is qualifying only; its marks are not counted in the final merit list.

How much is the IFSCA Grade A application fee?

The application fee is Rs. 1000 for General, OBC, and EWS candidates, and Rs. 100 as intimation charges for SC, ST, and PwBD candidates. The fee is paid online.

What is the age limit and educational qualification?

The upper age limit is 30 years on the cut-off date, with relaxations for reserved categories. For the General Stream, candidates need a Master's degree, a Bachelor's degree in Law or Engineering, or CA/CFA/CS/Cost Accountant qualification.

How is the final selection decided?

Final selection is based on Phase II marks (85% weightage) and the Phase III interview (15% weightage). Phase I marks are used only to shortlist candidates for Phase II and are not added to the final score.

Does IFSCA Grade A have negative marking?

Yes. In Phase I (both Paper 1 and Paper 2) and in the General Stream Phase II Paper 2, one-fourth of the marks assigned to a question are deducted for each wrong answer. Unattempted questions carry no penalty.