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SEBI Grade A Previous Year Question Paper & Analysis

Anuj Jindal / 20 min read / Last Updated: June 10, 2026

Topics Covered: SEBI Grade A Previous Year Question Papers, Phase 1 Analysis, Phase 2 Analysis, Benefits of Solving Previous Year Papers, 

There’s a famous quote by Albert Einstein that says, “True knowledge comes with deep understanding of the topic and its inner workings.” This quote is very important when you are preparing for an exam like SEBI Grade A. 

Like many other exams, SEBI Grade A often includes questions that were asked in previous years. 

By solving previous years’ papers, you can understand the type of questions asked, important topics, and the overall level of the exam. This helps you prepare in a better and more focused way. 

But just going through the papers is not enough. You should also analyse them properly to understand the difficulty level and check your preparation.

On this page, we have covered previous year question papers, exam analysis, and the benefits of solving these papers to help you prepare better. 

Key Takeaways –


➤ SEBI PYQ papers can be used to understand the 4 most common perceptions of SEBI – unpredictable, extremely difficult, finance impossible, only toppers clear.  

Recent PYQ analysis shows consistency in Phase 1 Paper 1 moderate difficulty, while Paper 2 difficulty can be seen getting tougher.  

Table of Content – SEBI Grade A Previous
Year Question Papers & Exam Analysis

Latest SEBI Grade A Previous Year Question Papers

The practice of getting familiar with the type of questions asked in the exam can be extremely helpful for students who are aiming to clear the SEBI Grade A Exam 2026.  

    • When you are starting your preparation, then try solving as many previous year question papers as possible. This will help you understand the pattern and improve your speed & accuracy over time.  
    • The time and effort you put into solving these papers will not go to waste. 
    • As you go deeper into your preparation, you will clearly see how much of a difference this practice makes in boosting your overall performance. 
    • You may find that some of the questions asked in the SEBI Grade A exam are exactly the same to those that appeared in previous exams. 

This gives you an extra advantage and can help you score better. So, give enough time and importance to solving past year papers as part of your SEBI study plan,it’s a step that can bring real results in your SEBI Grade A journey.  

Download SEBI Grade A 2024 Previous Year Question Papers

SEBI Grade A 2024 Question Papers
ExamPapersQuestion PapersAnswers PDFs Links
Phase - 1 Question PapersPaper 1Download PDFAnswers PDF
Paper 2Download PDFAnswers PDF
Phase - 2 Question PapersPaper 1Download PDFAnswers PDF
Paper 2Download PDFAnswers PDF

Download SEBI Grade A 2022 Previous Year Question Papers

SEBI Grade A 2022 Question Papers
ExamPapersQuestion PapersAnswers PDFs Links
Phase - 1 Question PapersPaper 1Download PDFAnswers PDF
Paper 2Download PDFAnswers PDF
Phase - 2 Question PapersPaper 1Download PDFAnswers PDF
Paper 2Download PDFAnswers PDF

It is not enough to simply go through the previous year papers provided in the table above; you must solve each paper by treating it like the actual SEBI Grade A exam. 

This practice will give you an extra edge with some of the advantages that were discussed earlier. 

Before you get to know about the benefits of solving PYPs, you can check out how giving SEBI Grade A mock tests can help you in this preparation journey. 

📌Anuj Jindal Insights

    • Finance has been the most difficult section in the paper since 2022, so solving finance PYQs papers more is advisable.  

Benefits of Solving SEBI Grade A Previous Year Papers

While I briefly mentioned the importance of the previous year papers in exam preparation, it is important to know the benefits that come along with solving these papers.  

So, to help you with that, I mentioned below the following advantages that you can reap by practicing SEBI Grade A previous year papers:  

    • Better understanding of the exam pattern: The more you’d practice the SEBI previous year papers, the stronger will be the impression of the exam pattern in your mind which includes time limit, weightage, distribution of marks, etc.’ 
    • Increased familiarity with difficulty level of the exam:  Solving the past year papers will familiarize you with the varying levels of difficulty in the questions when you switch from Paper 1 to Paper 2, and vice versa and in turn increase your preparedness level.  
    • Identification of key topics of the syllabus: With more practice on previous year’s papers, you’ll find some key topics from which questions are often asked in the real exam.
      These topics are, therefore, very important to cover during your preparation. This shall help you save a lot of time when you prioritize and revise these topics as opposed to covering the entire syllabus at once.  
    • Assessment of your strengths and weaknesses: The practice of solving papers will also help you to identify your strong and weak points in terms of your preparation. You can then accordingly improve upon the topics you are weak at and sharpen the ones you are already strong at.  
    • Better Time Management during real exam: Solving past year SEBI Grade A question papers within the time limit will help you masterfully manage the time during the actual exam.   
    • Enhance accuracy in the questions attempted: More and more practice on past year questions papers will render you with the superior ability to instinctively comprehend and mark the right answers to the questions that you know.  

Now that I’ve familiarized you with the benefits of solving past year papers, I think we have covered everything you’d ever need to know about the SEBI Grade A previous year papers.  

Let’s proceed to the next topic for SEBI Grade A exam analysis 

📌Anuj Jindal Insights

    • SEBI Grade A Phase 2 Paper 1 (English Descriptive) includes Essay, Precis Writing, and Reading Comprehension.
    • But these are usually based on capital markets and securities regulation, so practice writing essays on SEBI-related topics. 

Why SEBI Grade A Aspirant Should Solve Previous Question Papers

A very common thought among aspirants is that SEBI Grade A exams are extremely unpredictable and difficult. Regarding this issue, let me share an aspirant’s story that will help you understand the effect of this thought. 

Most Common SEBI Grade A Exam Myths

A dedicated SEBI Grade A aspirant preparing for Phase 2 for the first time moved forward in his preparation journey with guidance through YouTube videos and discussions with other aspirants to understand the Phase 2 exams in a better way. And all these he found were the following:

    • SEBI papers are unpredictable.
    • Phase 2 is extremely difficult.
    • Finance questions are impossible.
    • Only toppers can clear this exam.

Impact of Common Myths

The guidance he was looking for gave him fear. The aspirant who once studied confidently had started.

    • Postponing difficult subjects, 
    • Avoiding mock tests, 
    • Spending more time worrying than preparing. 

The issue here was not the exam itself but relying on opinions without evaluating reality personally.  

What could he have done better to avoid this situation?

1. He should have gone to a professional mentor with practical experience for reliable knowledge.  

2. He should have evaluated the difficulty and unpredictability of the exam himself by solving SEBI previous year question papers. 

SEBI Gr. A Past Year Paper E-book by Anuj Jindal

After noticing this common misconception of aspirants and lack of right guidance for it, I decided to create a SEBI Grade A Past Year Paper E-book with Solutions. How Anuj Jindal’s Past Year Paper helps?”: 

    • Gives you a clear understanding of both phases’ question patterns and depth, reducing fear created by uncertainty and misinformation. 
    • Provides detailed theory and step-by-step solutions, so difficult finance and management questions feel more approachable. 
    • Offers real exam-level practice, instead of avoiding mocks or postponing difficult subjects. 
    • Include the latest SEBI exam pattern, ensuring your preparation stays practical, relevant, and focused. 
    • A reliable source of guidance, created with the help of experienced and professional mentors. 

I made this E-book to help you understand the actual difficulty of the exam yourself through solved SEBI Previous Year Papers instead of relying on opinions like “the exam is impossible.”  

Now check out the SEBI Grade A Past Year Paper E-Book by Anuj Jindal.

Once again, avoid unreliable information and keep moving forward with confidence! 

SEBI Grade A Exam Analysis 2024-2022

If you are planning to prepare for the SEBI Grade A 2026 exam, then you must go through the exam analysis. 

By doing this, you’ll get a clear idea about the difficulty level of questions asked in SEBI exams, and you’ll also know what to expect in the upcoming exam. 

So, without wasting any more time, let’s get straight to it. 

The SEBI Grade A exam 2025 consists of three stages — Phase 1 (Prelims), Phase 2 (Mains), and finally, the Interview round. 

In this SEBI Grade A exam analysis, we will focus only on the first two stages — the Prelims and the Mains. 

So let’s begin with the exam analysis of the first round of the SEBI Grade A 2024 Prelims: 

We’ve come to an end of this section so I hope you’re updated about the salary and job profile of a SEBI Grade A officer as well; therefore, you can check the page linked here. 

SEBI Grade A Exam Analysis of Phase I 2024

Now, before I get to mentioning the details about the difficulty level of the Phase 1 paper, let us take a look at SEBI Phase 1 exam pattern once. 

So, the SEBI Grade A Prelims consists of 2 papers. The first one or Paper 1 is an objective type paper with questions according to the sections that I have listed below: 

    • Quantitative Aptitude 
    • General Awareness 
    • Reasoning Ability 
    • English Language 

And Paper 2 is also an objective type paper with questions based on the various subjects and topics like:  

    • Accountancy  
    • Commerce 
    • Management  
    • Finance  
    • Costing  
    • Companies Act  
    • Economics 

You should also note that the Paper 2 that we are concerned with is that of the General stream only.  

So, starting with the analysis of Paper 1. 

  1. The Quantitative aptitude section was of moderate to difficult level. There were some questions of elementary difficulty, and there were some challenging ones as well. 
  1. The Reasoning Ability section was of moderate level to difficult. 
  1. The General Awareness section was of the easy to moderate level. 
  1. And Lastly the English Language section was moderate. 

As far as the Analysis of Paper 2 goes, the section was a blend of easy, moderate, and difficult questions.

And if one were to summarize the overall level of paper 2, then it could be said that it was tougher compared with the previous edition. However, it was still doable.

Moreover, I had made a video on my experience of the SEBI Grade A Phase 01 2024 exam (Paper 1 & 2). I have shared the video with you, click on the link below to check it out. 

Having said that said if we analyse the difficulty level of questions, then the overall Phase 1 exam would be of moderate level. 

SEBI Grade A Exam Analysis of Mains 2024

Let’s take a look at the analysis of the Mains paper of the 2024 SEBI Grade A exam. Now, the Mains paper of the SEBI Grade A exam consists of 2 papers: 

    • The Paper 1 is that of English and is descriptive in nature, and common for all streams. 
    • The Paper 2, is exclusive to the general stream and is objective in nature, and the subjects are: 
    • Accountancy 
    • Commerce 
    • Management 
    • Finance 
    • Costing 
    • Companies Act & Economics. 

On that note, let’s quickly analyse both the paper. 

Paper 1 which comprises of English descriptive, was of moderate level. 

And in the 2nd Paper, all the subjects were of moderate level expect finance, which was moderate to difficulty level.  

With both papers being of “Moderate” level, the overall difficulty of the Phase 2 exam was moderate. Further, I have given below a video that you can watch to further understand the Phase 2 of the 2024 SEBI Grade A Mains: 

SEBI Grade A Exam Analysis of Phase I 2022

Now, before I get to mentioning the details about the difficulty level of the Phase 1 paper, let us take a look at SEBI Phase 1 exam pattern once.

So, the SEBI Grade A Prelims consists of 2 papers. The first one or Paper 1 is an objective type paper with questions according to the sections that I have listed below:

  • Quantitative Aptitude
  • General Awareness
  • Reasoning Ability
  • English Language

That said, the second paper or Paper 2 is also an objective type paper with questions based on the various subjects and topics like: Accountancy, Commerce, Management, Finance, Costing, Companies Act & Economics.

You should also note that the Paper 2 that we are concerned with is that of the General stream only.

So, starting with the analysis of Paper 1.

  • The Quantitative aptitude section was of the Easy to moderate level. There were some questions of elementary difficulty, and there were some challenging ones as well.
  • The General Awareness section was of the easy to moderate level of difficulty.
  • The Reasoning Ability section was of moderate level.
  • And Lastly the English Language section was easy but questions were of considerable size, thus, the section could be remarked as easy to moderate.

That said, I had made a video on my experience of the 2022 SEBI Grade A Phase 1 Paper 1 exam. I have shared the video with you down below.

    As far as the Analysis of Paper 2 goes, the section was a blend of easy, moderate, and difficult questions. And if one were to summarize the overall level of paper 2, then it could be said that it was tougher compared with the previous edition. However, it was still doable. Given below is a video that you can watch to better understand Paper 2 of the 2022 SEBI Grade A Prelims:

      Having said that said if we were to analyse the difficulty level of questions taking the Prelims papers as a whole, then the overall Phase 1 exam difficulty would have to be taken as moderate.

      SEBI Grade A Exam Analysis of Mains 2022

      Coming to the analysis of the Mains papers of the 2022 SEBI Grade A exam, let us first take a look at the exam pattern of the same.

      Now, the Mains paper of the SEBI Grade A exam consists of 2 papers, The first one of Paper 1 is that of English and is descriptive in nature, and is common for all streams.

      Whereas the second paper of Phase 2, is exclusive to the general stream and is objective in nature. Talking about the questions asked in paper 2, they are asked from the same subjects and topics as that of the Phase 1 Paper 2, i.e., Accountancy, Commerce, Management, Finance, Costing, Companies Act & Economics.

      With that being the case, let me quickly take you to the analysis of SEBI Grade A Phase 2 exam.

      Paper 1 which comprises of English descriptive, was a degree up from last year. All three sections i.e., Essay writing, Precis writing, and Reading comprehension carried questions that required careful contemplation. However, if the preparation was good, then it was doable in every sense. All in all, according to me and the general mandate, Paper-1 was of the “Moderate” level.

      Coming to the 2nd Paper, the difficulty of the questions asked in it was of moderate level too. It was lengthy and according to me, anything beyond 30 attempts with perfect accuracy can be considered as a good attempt.

      With both papers being of “Moderate” level, the overall difficulty of the Phase 2 exam was moderate.

      Further, I have given below a video that you can watch to further understand the Phase 2 of the 2022 SEBI Grade A Mains:

        Conclusion

        On this page, we have discussed in detail the SEBI Grade A previous year papers and exam analysis, which will help you understand the exam pattern and difficulty level. 

        By going through these papers and analysis, you can prepare in a more focused way and improve your overall performance. With that, I wish you all the very best for your preparation and the journey ahead.

        Be Curious & Stay Determined! 

        About Anuj Jindal

        ━━━━━
        Anuj Jindal, the founder, is an ex-manager from SBI, with an M.Com from Delhi School of Economics. He also has a JRF in Commerce & Management and NET in HRM, along with more than 5 years of experience in the field of Education.

        Anuj Jindal RBI Grade B Course:

        • 2026 Live Batch with Live Doubt Sessions
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        • 2500+ Practice Ques. + 60 Full-Length Tests
        • Comprehensive Current Affairs coverage

        FAQs: SEBI Grade A Previous Year Question Papers & Exam Analysis

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          Is solving the SEBI Grade A Previous Year Papers important?

          Solving the SEBI Grade A Previous Year Papers is one of the initial steps of preparation, hence, if you are planning on appearing in SEBI Grade A 2024 then I would suggest you refer the past year papers as it will help you understand the exam pattern as well as your strengths and weaknesses

          I have also provided you the gateway to the destination of SEBI Grade A Previous Year Papers.  

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          How many SEBI Grade A Question Papers should I solve? 

          You must solve a considerable number of SEBI Grade A question papers during your bid to clear SEBI Grade A exam. It is your practice that will ultimately decide your fate, and no amount of practice is enough. So, solve as many question papers as you can.

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          Where can the candidates download the SEBI Grade A Past Year Papers PDFs from? 

           You can access and download the SEBI Grade A Previous year papers PDFs that I have compiled and provided in the blog above.  

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          Is going through SEBI Grade A  Exam Analysis helpful? 

          Yes, it is essential to thoroughly analyze SEBI Grade A exam paper as this practice will help you with following benefits: 

          • Better understanding of the exam pattern 
          • Identification of the important topics in the syllabus 
          • Enhanced familiarity with the exam’s difficulty level  
          • Greater awareness of one’s strengths and weaknesses  

          You can go through the section above to learn the benefits in a detailed manner.   

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          How many sections will there be in the SEBI Grade A exam Phase I? 

          The phase 1 exam checks the knowledge, speed and aptitude of the candidate. Hence, the sections such as, General Awareness, Reasoning, Quantitative Aptitude, and English, incorporate the SEBI Grade A Phase 1 exam. 

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          What is the difficulty level SEBI Grade A exam 2024 shift 1?

          As per SEBI Grade A exam analysis 2024 the SEBI Grade A Phase 2 difficulty level of shift 1 is moderate. The difficulty level is usually determined by taking reviews from the aspirants who took the actual exam. However, in my case I myself took the exam, and have provided a genuine review afterwards.. 

           

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          What is the difficulty level of descriptive paper of SEBI Grade A exam 2024?

          The difficulty level of the descriptive paper of SEBI Grade A Phase 2 exam 2024 can be best described to be of “moderate” level. The paper was lengthy and comprised a lot of questions from current affairs section and a few from the static part.  

          To read through detailed analysis of the descriptive paper of the SEBI Grade A Phase 2 exam 2024 that I have provided, you can refer to the section above.  

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