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100+ Free SEBI Grade A Practice Questions

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Key Facts: SEBI Grade A Exam

3 phases

Selection Stages

SEBI Notification

200 marks

Phase I Total (2 papers x 100)

SEBI Notification

1/4

Negative Marking per Wrong Answer

SEBI Notification

40%

Phase I Aggregate Cut-off

SEBI Notification

30 yrs

Upper Age Limit

SEBI Notification

Rs. 62,500

Officer Basic Pay (revised 2025)

SEBI

SEBI 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 commerce subjects. A one-fourth negative marking applies, and Phase I needs 30% in Paper 1, 40% in Paper 2, and a 40% aggregate.

Sample SEBI Grade A Practice Questions

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

1Under which Act of Parliament was the Securities and Exchange Board of India (SEBI) given statutory powers?
A.The SEBI Act, 1992
B.The Companies Act, 1956
C.The Securities Contracts (Regulation) Act, 1956
D.The Reserve Bank of India Act, 1934
Explanation: SEBI was established as a non-statutory body in 1988 and was given statutory powers through the SEBI Act, 1992. This Act empowers SEBI to protect investor interests, develop the securities market, and regulate it.
2Which of the following is the primary objective of SEBI as stated in the preamble of the SEBI Act, 1992?
A.To protect the interests of investors in securities and promote and regulate the securities market
B.To set monetary policy and control inflation
C.To regulate banks and non-banking financial companies
D.To collect direct and indirect taxes
Explanation: The preamble of the SEBI Act, 1992 states that SEBI exists to protect the interests of investors in securities, to promote the development of the securities market, and to regulate it. These three goals define SEBI's mandate.
3A market where companies raise fresh capital from the public by issuing new securities for the first time is called the:
A.Primary market
B.Secondary market
C.Money market
D.Forex market
Explanation: The primary market, also called the new issues market, is where companies issue new securities (shares, debentures, bonds) directly to investors to raise capital. An Initial Public Offering (IPO) is the most common primary market activity.
4Which two depositories operate in India to hold securities in dematerialized (electronic) form?
A.NSDL and CDSL
B.NSE and BSE
C.RBI and SEBI
D.NSDL and NABARD
Explanation: India has two depositories: National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL). They hold investor securities electronically and provide demat services through registered Depository Participants (DPs).
5In SEBI's classification of its functions, prohibiting insider trading and fraudulent and unfair trade practices falls under which category?
A.Protective functions
B.Developmental functions
C.Regulatory functions only
D.Fiscal functions
Explanation: SEBI's functions are grouped as protective, regulatory, and developmental. Protective functions safeguard investors and include prohibiting insider trading, checking price rigging, and banning fraudulent and unfair trade practices.
6Which body in India is responsible for formulating monetary policy and acting as the lender of last resort to banks?
A.Reserve Bank of India
B.Securities and Exchange Board of India
C.Ministry of Corporate Affairs
D.Insurance Regulatory and Development Authority of India
Explanation: The Reserve Bank of India (RBI) is India's central bank. It formulates and implements monetary policy, regulates banks, manages currency, and acts as the lender of last resort to the banking system.
7A mutual fund pools money from many investors and invests it in a diversified portfolio. Who regulates mutual funds in India?
A.SEBI
B.RBI
C.IRDAI
D.PFRDA
Explanation: Mutual funds in India are registered with and regulated by SEBI under the SEBI (Mutual Funds) Regulations, 1996. SEBI oversees disclosures, scheme structures, and protection of unit holders.
8What does the term 'IPO' stand for in the context of the securities market?
A.Initial Public Offering
B.Indian Portfolio Order
C.Investment Protection Obligation
D.Interim Public Option
Explanation: An Initial Public Offering (IPO) is the first sale of shares by a company to the public in the primary market. It allows a private company to become publicly listed and raise capital.
9The headquarters of the Securities and Exchange Board of India (SEBI) is located in which city?
A.Mumbai
B.New Delhi
C.Chennai
D.Kolkata
Explanation: SEBI's head office is in the Bandra Kurla Complex, Mumbai. It also operates regional offices in cities such as New Delhi, Kolkata, Chennai, and Ahmedabad, plus several local offices across India.
10Which SEBI regulation governs the substantial acquisition of shares and the takeover of listed companies in India?
A.SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
B.SEBI (Prohibition of Insider Trading) Regulations, 2015
C.SEBI (Mutual Funds) Regulations, 1996
D.SEBI (Delisting of Equity Shares) Regulations, 2021
Explanation: The SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (the Takeover Code) govern takeovers and substantial acquisitions, including the open-offer trigger when an acquirer crosses 25% shareholding.

About the SEBI Grade A Exam

The SEBI Grade A (Assistant Manager) Officer Exam is the national recruitment examination conducted by the Securities and Exchange Board of India 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 and securities market, English Language, Quantitative Aptitude, and Reasoning, while the General Stream Paper 2 covers Commerce, Accountancy, Management, Finance, Costing, Companies Act, and Economics. 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 + 18% GST (General/OBC/EWS); Rs. 100 + 18% GST (SC/ST/PwBD) (Securities and Exchange Board of India (SEBI), via an empanelled online testing agency)

SEBI Grade A Exam Content Outline

~25%

General Awareness (incl. Financial & Securities Market)

Current affairs, financial-sector and securities-market knowledge, SEBI/RBI institutions, and the SEBI Act framework

~12%

Quantitative Aptitude

Percentages, profit and loss, simple and compound interest, ratio, time and work, averages, and number series

~12%

Test of Reasoning

Coding-decoding, blood relations, direction sense, syllogisms, seating arrangement, and analogies

~11%

English Language

Grammar, vocabulary, sentence correction, error spotting, idioms, and comprehension

~25%

Commerce, Accountancy & Finance (Paper 2)

Accounting standards, financial statements, ratio analysis, share capital, financial management, and capital budgeting

~15%

Management, Economics, Costing & Companies Act (Paper 2)

Management theories, micro/macroeconomics, monetary policy, costing methods, and Companies Act provisions

How to Pass the SEBI 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 + 18% GST (General/OBC/EWS); Rs. 100 + 18% GST (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

SEBI 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 securities-market and financial awareness using SEBI's investor-education material to handle the financial-sector questions in Paper 1.
3For General Stream Paper 2, prioritise high-weight subjects such as Finance, Management, and Commerce/Accountancy before Costing and Companies Act.
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.
7Start practising English descriptive drafting (essay, precis, comprehension) early, since Phase II Paper 1 tests writing skills.

Frequently Asked Questions

What is the SEBI Grade A exam?

SEBI Grade A is the national recruitment exam conducted by the Securities and Exchange Board of India 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 SEBI 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 Commerce, Accountancy, Management, Finance, Costing, Companies Act, and Economics. The same subjects appear in both Phase I Paper 2 and Phase II Paper 2.

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 SEBI Grade A application fee?

The application fee is Rs. 1000 plus 18% GST for General, OBC, and EWS candidates, and Rs. 100 plus 18% GST 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 SEBI 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.