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SEBI Grade A Exam 2026 is expected to consist of three stages: Phase 1, Phase 2, and Interview. Phase 1 includes two objective papers, while Phase 2 consists of a descriptive English paper and a stream-specific paper. Negative marking of 1/4th mark applies to objective papers, and final selection is based on Phase 2 and Interview performance.
Candidates preparing for the SEBI Grade A Exam 2026 must understand the latest exam pattern to plan their preparation effectively. The exam pattern outlines the number of stages, subjects, marking scheme, duration, and selection criteria.
Since the official SEBI Grade A 2026 Notification has not yet been released, the exam pattern discussed below is based on the latest SEBI Grade A 2025 notification and is expected to remain largely unchanged.
The SEBI Grade A examination is conducted in three stages. These stages include Phase I (Online Screening Examination), Phase II (Online Examination), and an Interview. Each stage evaluates different aspects of a candidate’s aptitude and knowledge.
| Feature | Details |
|---|---|
| Mode of Exam | Online |
| Number of Stages | 3 (Phase I, Phase II, Interview) |
| Total Number of Papers | Phase I: 2
Phase II: 2 |
| Types of Questions | Phase I: Objective (MCQ);
Phase II: Objective (MCQ) & Descriptive (English) |
| Duration of Each Paper | Phase I: 60 minutes per paper
Phase II: 60 minutes (Paper 1), 40 minutes (Paper 2) |
| Total Marks | Phase I: 200
Phase II: 200 Interview: Weightage (15%) |
| Medium of Exam | English and Hindi (Paper II in Phase I and Paper II in Phase II for General Stream) |
| Negative Marking | Yes (1/4th mark in Phase I and Phase II Paper 2) |
The SEBI Grade A recruitment process consists of the following stages:
This stage is qualifying in nature and is used to shortlist candidates for Phase 2.
Candidates who qualify Phase 1 are called for Phase 2. Marks obtained in this phase are considered for final selection.
Candidates shortlisted from Phase 2 are called for the interview round. The final merit list is prepared using Phase 2 marks and interview scores.
Phase 1 consists of two objective papers carrying 100 marks each.
| Paper | Subjects | Marks | Duration | Cut-off |
| Paper 1 | General Awareness, English Language, Quantitative Aptitude, Reasoning Ability | 100 | 60 Minutes | 30% |
| Paper 2 | Stream-Specific Subjects | 100 | 40 Minutes | 40% |
| Aggregate | – | 200 | 100 Minutes | 40% |
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Paper 2 for the General Stream includes:
For Legal, IT, Research, Engineering, and Official Language streams, Paper 2 contains questions from the respective specialized subject.
Phase 2 consists of two papers carrying 100 marks each.
| Paper | Subjects | Marks | Duration |
| Paper 1 | English (Descriptive) | 100 | 60 Minutes |
| Paper 2 | Stream-Specific Subjects | 100 | 40 Minutes |
| Total | – | 200 | 100 Minutes |
The descriptive English paper generally includes:
For General Stream, questions are asked from:
For other streams, Paper 2 contains stream-specific professional subjects.
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Candidates shortlisted after Phase 2 are called for the interview round.
| Component | Weightage |
| Phase 2 Examination | 85% |
| Interview | 15% |
Candidates may choose to attend the interview in either English or Hindi. For certain streams such as Legal, Electrical Engineering, and Civil Engineering, SEBI may provide additional weightage for relevant post-qualification work experience as specified in the official notification.
The marking scheme for the SEBI Grade A examination is specific for each phase. It includes provisions for negative marking and minimum qualifying criteria. Candidates need to understand this marking scheme to improve their scores.
| SEBI Grade A Marking Scheme 2026 | |
| Particulars | Details |
| Correct Answer | Full marks awarded |
| Wrong Answer | 1/4th mark deducted |
| Unattempted Question | No penalty |
| Negative Marking Applicable In | Phase 1 – Papers 1 & 2,
Phase 2 – Paper 2 |
| Negative Marking Not Applicable In | Phase 2 Paper 1 (Descriptive) |
To qualify for the next stage, candidates must secure minimum marks in each paper and meet the aggregate cut-off.
| Criteria | Minimum Marks |
| Paper 1 | 30% |
| Paper 2 | 40% |
| Aggregate | 40% |
| Criteria | Minimum Marks |
| Paper 1 | 30% |
| Paper 2 | 40% |
| Aggregate | 50% (Weighted Score) |
The aggregate score in Phase 2 is calculated using:
Candidates must be aware of several crucial rules concerning the SEBI Grade A Exam Pattern 2026. Adhering to these guidelines is vital for a smooth examination experience and to ensure eligibility.
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The SEBI Grade A examination consists of three stages: Phase 1 (Prelims), Phase 2 (Mains), and an Interview.
Yes, there is negative marking. 1/4th of the marks assigned to a question is deducted for each wrong answer in Phase 1 (both papers) and Phase 2 Paper 2. Phase 2 Paper 1 has no negative marking.
In Phase 1, each paper has a duration of 60 minutes. In Phase 2, Paper 1 is 60 minutes, and Paper 2 is 40 minutes.
Yes, all papers within each phase are compulsory for all candidates. Specific papers (like Paper 2) may vary based on the chosen stream.
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