SEBI Grade A Assistant Manager Syllabus and Exam Pattern 2025

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SEBI Grade A Assistant Manager Exam Pattern 2025

The SEBI Assistant Manager exam pattern will be conducted in two phases which are Phase 1 & Phase 2. Here is the complete exam pattern.

SEBI Grade A Assistant Manager exam will be conducted in two phases:

• Phase 1 Exam
• Phase 2 Exam.

Assistant Manager – Phase 1 Exam (Screening Test)

The Phase 1 exam will have two papers. Paper 1 will be same for all the streams while the Paper 2 will be based on the stream.

• Exam Mode: CBT (Computer Based Test).
• Total Marks: Both Papers will be of 100 marks each.
• No. of Questions: 100 Multiple Choice Questions (MCQ).
• Exam Duration: Paper 1 will be 60 minutes and Paper 2 will be of 40 minutes.
• Marking Scheme: 1/4th of the total marks (for the respected question) will be deducted for every wrong answer or multiple answers.
• Exam Language: The exam will be bilingual (English and Hindi language).
• Aggregate Cut-Off: 40% (30% for Paper 1 & 40% for Paper 2).

Assistant Manager – Phase 2 Exam

The Phase 2 exam will also have two papers. Paper 1 will be be descriptive while the Paper 2 will have MCQs.

• Exam Mode: CBT (Computer Based Test).
• Total Marks: Both Papers will be of 100 marks each.
• No. of Questions: 100 Multiple Choice Questions (MCQ).
• Exam Duration: Paper 1 will be 60 minutes and Paper 2 duration will be different according to the stream.
• Marking Scheme: 1/4th of the total marks (for the respected question) will be deducted for every wrong answer or multiple answers for MCQs.
• Exam Language: The exam will be bilingual (English and Hindi language).
• Aggregate Cut-Off: 40% (30% for Paper 1 & 40% for Paper 2).

SEBI Grade A Assistant Manager Syllabus 2025

Paper 1 (Phase 1)

The syllabus for Paper 1 of Phase 1 is same for all streams. It will be a common paper for all the streams. Paper 1 will have 4 sections which are English Language, Reasoning Ability, Numerical Ability & Knowledge of Current Events and Financial awareness. Here is the subject wise topics details.

English Language

• Error Spotting
• Column based Fillers and Sentence Connectors
• Paragraph Completion
• Sentence Rearrangement
• Comprehension
• Fill in the Blanks
• Passages
• Synonyms and Antonyms
• Active and Passive Voice
• Direct and Indirect Speech
• Idioms & Phrases etc.

Reasoning Ability

• Puzzles
• Seating Arrangements
• Direction Sense
• Blood Relations
• Syllogisms
• Inequalities
• Order and Ranking
• Coding-Decoding
• Machine Input-Output
• Alpha-Numeric-Symbol Series
• Data Sufficiency
• Number System and Conversions
• Logical Reasoning etc.

Quantitative Aptitude

• Data Interpretation
• Inequalities
• Number Series
• Approximation and Simplification
• Data Sufficiency
• HCF and LCM
• Inequality (Quadratic & Quantity based)
• Profit and Loss
• Time and work & Pipe and cistern
• Permutation, Combination & Probability
• Problem on Ages
• Work and Time
• Speed Distance and Time
• Mensuration
• Average, Ratio and Proportion, etc.

General Awareness

• Current Affairs
• Financial Awareness
• Current Affairs – National & International
• Budget
• Awards and Honours
• Important Financial & Economic News
• Important Days
• International & National Organizations
• Sports
• Books and Authors
• Science – Inventions & Discoveries
• Countries & Capitals etc

Paper 1 (Phase 2) – For All Streams

The paper on English shall be framed in a manner to assess the writing skills including expression and understanding of the topic including precis writing/ essay writing/ comprehension.

Paper 2 (Phase 1 & Phase 2) – General Stream

The Paper 2 syllabus is common the both phases (Phase 1 & Phase 2). Here is the complete subject wise syllabus for Paper 2 of General Stream.

Commerce & Accountancy

• 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

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:-Theories of Motivation; How Managers Motivate; Concept of Morale; Factors determining morale; Role of Incentives in Building up Morale
• Communication: Steps in the Communication Process; Communication Channels; Oral versus Written Communication; Verbal versus non-verbal Communication; upward, downward and lateral communication; Barriers to Communication, Role of Information Technology

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, recent developments.

General Topics

• 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

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- (a) Standard Costing, (b) Marginal Costing, (c) Budget, and Budgetary Control.

Companies Act

The Companies Act, 2013- Specific reference to Chapter III, Chapter IV, Chapter VIII, Chapter X, Chapter XI, Chapter XII, and Chapter XXVII.

Economics

• Demand and Supply, Market Structures, National Income:-Concepts and Measurement, Classical Vs 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

Paper 2 (Phase 1 & Phase 2) – Legal Stream

Phase 1

• Constitution of India (Preamble, Part I, Part III, Part IV, Part IVA, Part V, Part VI, Part VIII, Part IXA, Part IXB, Part XI).
• Contract Law
  • Indian Contract Act, 1872;
  • Sale of Goods Act, 1930;
  • Indian Partnership Act, 1932;
  • Specific Relief Act, 1963.
• Code of Civil Procedure, 1908 (Part I, Part II, Part III, Part IV, Part V, Part VII, Schedule I)
• Transfer of Property Act, 1882 (Chapter III, Chapter IV, Chapter V)
• Arbitration and Conciliation Act, 1996 (Part I)
• The Limitation Act, 1963
• Administrative Law
• Jurisprudence and Interpretation of Statutes
• Important Latin terms and maxims
• Law of Torts and Consumer Protection Act, 2019

Phase 2

• Criminal Law
  • Bharatiya Nyaya Sanhita, 2023 (Chapter I, Chapter II, Chapter III, Chapter IV, Chapter VII, Chapter XII, Chapter XIV, Chapter XVII, Chapter XVIII, Chapter XIX;
  • Bharatiya Nagarik Suraksha Sanhita, 2023
• Law of Evidence
  • Bharatiya Sakshya Adhiniyam, 2023
• Corporate Laws
  • Companies Act, 2013 (Chapter I, Chapter II, Chapter III, Chapter IV, Chapter V, Chapter VI, Chapter VII, Chapter VIII, Chapter IX, Chapter X, Chapter XI, Chapter XII, Chapter XIII, Chapter XIV, Chapter XV, Chapter, XVI, Chapter XVIII, Chapter XX, Chapter XXVII, Chapter XXVIII);
  • Limited Liability Partnership Act, 2008;
  • Insolvency and Bankruptcy Code, 2016 (Part I, Part II)
• Securities Laws
  • Securities Contracts (Regulation) Act, 1956;
  • Securities and Exchange Board of India Act, 1992;
  • Depositories Act, 1996;
  • Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003;
  • Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011;
  • Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015;

Paper 2 (Phase 1 & Phase 2) – IT Stream

Phase 1

Phase 2

Paper 2 (Phase 1 & Phase 2) – Research Stream

Phase 1

• Economics: Demand and Supply, Market Structures, National Income, Determination of output and
  employment, Investment Function, Multiplier and Accelerator, Demand and Supply for Money , IS – LM,
  Inflation and Phillips Curve, Business Cycles, Inflation, Monetary and Fiscal Policy, Non-banking Financial
  Institutions.
• Public Economics: Public Goods, Tax & Non-Tax Revenue, Direct & Indirect Taxes, Progressive and nonProgressive Taxation, Incidence and Effects of Taxation, Public expenditure , Public Debt, Public Budget and
  Budget Multiplier.
• Statistics and Econometrics: Measures of Central tendency & dispersions, Correlation, Sampling methods,
  Sampling Distribution, Statistical Inferences, Hypothesis testing, Regression Analysis.
• International Economics: Balance of Payments, Foreign Exchange Markets, Role of International Financial
  Institutions: BIS, IOSCO, IMF & World Bank.
• Financial Markets: Asymmetric Information, Market Model, Market Efficiency, Primary Market, Secondary
  Market, Commodity Markets, Mutual Funds, Stock Exchanges, Depositories, Clearing Corporations, Credit
  Rating Agencies, Corporate Debt Market. Forwards, Futures, Options, Hedging, Speculation and Arbitrage.

Phase 2

Paper 2 (Phase 1 & Phase 2) – Official Language Stream

The Official Language Stream syllabus for Paper 2 is common for both Phase 1 & Phase 2. Here is the complete syllabus.

1. भारत सरकार की राजभाषा नीति (Official Language Policy of the Govt. of India) से संबंधित प्रश्न।
2. हिन्दी से अंग्रेजी अनुवाद [शब्द / वाक्यांश / वाक्य / Terms / Phrases / Sentences]
3. अंग्रेजी से हिन्दी अनुवाद [शब्द / वाक्यांश / वाक्य / Terms / Phrases / Sentences]
4. हिन्दी से अंग्रेजी – विधिक शब्दावली (Legal Terminology)
5. अंग्रेजी से हिन्दी – विधिक शब्दावली (Legal Terminology)
6. हिन्दी से अंग्रेजी – प्रशासनिक / बैंकिंग / पूंजी बाजार संबंधी शब्दावली (Administrative / Banking / Capital Market
   Terminology)
7. अंग्रेजी से हिन्दी – प्रशासनिक / बैंकिंग / पूंजी बाजार संबंधी शब्दावली (Administrative / Banking / Capital Market
   Terminology)

Paper 2 (Phase 1 & Phase 2) – Engineering (Electrical) Stream

The Engineering (Electrical) Stream syllabus for Paper 2 is common for both Phase 1 & Phase 2. Here is the complete syllabus.

1. Electrical Materials: Electrical Engineering Materials, crystal structures and defects, ceramic materials,
   insulating materials, magnetic materials – basics, properties and applications; ferrities, ferro-magnetic materials
   and components; basics of solid state physics, conductors; Photo-conductivity; Basics of Nano materials and
   Superconductors.
2. Electric Circuits and Fields: Circuit elements, network graph, KCL, KVL, Node and Mesh analysis, ideal
   current and voltage sources, Thevenin’s, Norton’s, Superposition and Maximum Power Transfer theorems,
   transient response of DC and AC networks, Sinusoidal steady state analysis, basic filter concepts, two-port
   networks, three phase circuits, Magnetically coupled circuits, Gauss Theorem, electric field and potential due
   to point, line, plane and spherical charge distributions, Ampere’s and Biot-Savart’s laws; inductance, dielectrics,
   capacitance; Maxwell’s equations.
3. Electrical and Electronic Measurements: Principles of measurement, accuracy, precision and standards;
   Bridges and potentiometers; moving coil, moving iron, dynamometer and induction type instruments,
   measurement of voltage, current, power, energy and power factor, instrument transformers, digital voltmeters
   and multi-meters, phase, time and frequency measurement, Q-meters, oscilloscopes, potentiometric recorders,
   error analysis, Basics of sensors, Transducers, basics of data acquisition systems.
4. Computer Fundamentals: Number systems, Boolean algebra, arithmetic functions, Basic Architecture, Central
   Processing Unit, I/O and Memory Organisation; peripheral devices, data representation and programming,
   basics of Operating system and networking, virtual memory, file systems; Elements of programming languages,
   typical examples.
5. Basic Electronics Engineering: Basics of Semiconductor diodes and transistors and characteristics, Junction
   and field effect transistors (BJT, FET and MOSFETS), different types of transistor amplifiers, equivalent circuits
   and frequency response; oscillators and other circuits, feedback amplifiers.
6. Analog and Digital Electronics: Operational amplifiers – characteristics and applications, combinational and
   sequential logic circuits, multiplexers, multi-vibrators, sample and hold circuits, A/D and D/A converters, basics
   of filter circuits and applications, simple active filters; Microprocessor basics- interfaces and applications, basics
   of linear integrated circuits; Analog communication basics, Modulation and de-modulation, noise and
   bandwidth, transmitters and receivers, signal to noise ratio, digital communication basics, sampling, quantizing,
   coding, frequency and time domain multiplexing, power line carrier communication systems.
7. Systems and Signal Processing: Representation of continuous and discrete-time signals, shifting and scaling
   operations, linear, time-invariant and causal systems, Fourier series representation of continuous periodic signals, sampling theorem, Fourier and Laplace transforms, Z transforms, Discrete Fourier transform, FFT, linear convolution, discrete cosine transform, FIR filter, IIR filter, bilinear transformation.
8. Control Systems: Principles of feedback, transfer function, block diagrams and signal flow graphs, steadystate errors, transforms and their applications; Routh-hurwitz criterion, Nyquist techniques, Bode plots, root loci,
   lag, lead and lead-lag compensation, stability analysis, transient and frequency response analysis, state space
   model, state transition matrix, controllability and observability, linear state variable feedback, PID and industrial
   controllers.
9. Electrical Machines: Single phase transformers, three phase transformers – connections, parallel operation,
   auto-transformer, energy conversion principles, DC machines – types, windings, generator characteristics,
   armature reaction and commutation, starting and speed control of motors, Induction motors – principles, types,
   performance characteristics, starting and speed control, Synchronous machines – performance, regulation,
   parallel operation of generators, motor starting, characteristics and applications, servo and stepper motors.
10. Power Systems: Basic power generation concepts, steam, gas and water turbines, transmission line models
    and performance, cable performance, insulation, corona and radio interference, power factor correction,
    symmetrical components, fault analysis, principles of protection systems, basics of solid state relays and digital
    protection; Circuit breakers, Radial and ring-main distribution systems, Matrix representation of power systems,
    load flow analysis, voltage control and economic operation, System stability concepts, Swing curves and equal
    area criterion. HVDC transmission and FACTS concepts, Concepts of power system dynamics, distributed
    generation, solar and wind power, smart grid concepts, environmental implications, fundamentals of power
    economics.
11. Power Electronics and Drives: Semiconductor power diodes, transistors, thyristors, triacs, GTOs, MOSFETs
    and IGBTs – static characteristics and principles of operation, triggering circuits, phase control rectifiers, bridge
    converters – fully controlled and half controlled, principles of choppers and inverters, basis concepts of
    adjustable speed dc and ac drives, DC-DC switched mode converters, DC-AC switched mode converters,
    resonant converters, high frequency inductors and transformers, power supplies.

Paper 2 (Phase 1 & Phase 2) – Engineering (Civil) Stream

The Engineering (Civil) Stream syllabus for Paper 2 is common for both Phase 1 & Phase 2. Here is the complete syllabus.

1. Building Materials: Stone, Lime, Glass, Plastics, Steel, FRP, Ceramics, Aluminium, Fly Ash, Basic
   Admixtures, Timber, Bricks and Aggregates: Classification, properties and selection criteria; Cement: Types,
   Composition, Properties, Uses, Specifications and various Tests; Lime & Cement Mortars and Concrete:
   Properties and various Tests; Design of Concrete Mixes: Proportioning of aggregates and methods of mix
   design.
2. Solid Mechanics: Elastic constants, Stress, plane stress, Strains, plane strain, Mohr’s circle of stress and
   strain, Elastic theories of failure, Principal Stresses, Bending, Shear and Torsion.
3. Structural Analysis: Basics of strength of materials, Types of stresses and strains, Bending moments and
   shear force, concept of bending and shear stresses; Analysis of determinate and indeterminate structures;
   Trusses, beams, plane frames; Rolling loads, Influence Lines, Unit load method & other methods; Free and
   Forced vibrations of single degree and multi degree freedom system; Suspended Cables; Concepts and use of
   Computer Aided Design.
4. Design of Steel Structures: Principles of Working Stress methods, Design of tension and compression
   members, Design of beams and beam column connections, built-up sections, Girders, Industrial roofs,
   Principles of Ultimate load design.
5. Design of Concrete and Masonry structures: Limit state design for bending, shear, axial compression and
   combined forces; Design of beams, Slabs, Lintels, Foundations, Retaining walls, Tanks, Staircases; Principles
   of pre-stressed concrete design including materials and methods; Earthquake resistant design of structures;
   Design of Masonry Structure.
6. Construction Practice, Planning and Management: Construction – Planning, Equipment, Site investigation
   and Management including Estimation with latest project management tools and network analysis for different Types of works; Analysis of Rates of various types of works; Tendering Process and Contract Management, Quality Control, Productivity, Operation Cost; Land acquisition; Labour safety and welfare.
7. Flow of Fluids, Hydraulic Machines and Hydro Power:
   1. Fluid Mechanics, Open Channel Flow, Pipe Flow: Fluid properties; Dimensional Analysis and Modelling;
      Fluid dynamics including flow kinematics and measurements; Flow net; Viscosity, Boundary layer and
      control, Drag, Lift, Principles in open channel flow, Flow controls. Hydraulic jump; Surges; Pipe networks.
   2. Hydraulic Machines and Hydro power: Various pumps, Air vessels, Hydraulic turbines – types,
      classifications & performance parameters; Power house – classification and layout, storage, pondage,
      control of supply.
8. Hydrology and Water Resources Engineering: Hydrological cycle, Ground water hydrology, Well hydrology
   and related data analysis; Streams and their gauging; River morphology; Flood, drought and their management;
   Capacity of Reservoirs. Water Resources Engineering: Multipurpose uses of Water, River basins and their
   potential; Irrigation systems, water demand assessment; Resources – storages and their yields; Water logging,
   canal and drainage design, Gravity dams, falls, weirs, Energy dissipaters, barrage Distribution works, Cross
   drainage works and headworks and their design; Concepts in canal design, construction & maintenance; River
   training, measurement and analysis of rainfall.
9. Environmental Engineering:
   1. Water Supply Engineering: Sources, Estimation, quality standards and testing of water and their treatment;
      Rural, Institutional and industrial water supply; Physical, chemical and biological characteristics and sources
      of water, Pollutants in water and its effects, Estimation of water demand; Drinking water Standards, Water
      Treatment Plants, Water distribution networks.
   2. Waste Water Engineering: Planning & design of domestic waste water, sewage collection and disposal;
      Plumbing Systems. Components and layout of sewerage system; Planning & design of Domestic Wastewater disposal system; Sludge management including treatment, disposal and re-use of treated effluents;
      Industrial waste waters and Effluent Treatment Plants including institutional and industrial sewage
      management.
   3. Solid Waste Management: Sources & classification of solid wastes along with planning & design of its
      management system; Disposal system, Beneficial aspects of wastes and Utilization by Civil Engineers.
   4. Air, Noise pollution and Ecology: Concepts & general methodology.
10. Geo-technical Engineering and Foundation Engineering:
    1. Geo-technical Engineering: Soil exploration – planning & methods, Properties of soil, classification, various
       tests and inter-relationships; Permeability & Seepage, Compressibility, consolidation and Shearing
       resistance, Earth pressure theories and stress distribution in soil; Properties and uses of geo-synthetics.
    2. Foundation Engineering: Types of foundations & selection criteria, bearing capacity, settlement analysis,
       design and testing of shallow & deep foundations; Slope stability analysis, Earthen embankments, Dams
       and Earth retaining structures: types, analysis and design, Principles of ground modifications.
11. Surveying and Geology:
    1. Surveying: Classification of surveys, various methodologies, instruments & analysis of measurement of
       distances, elevation and directions; Field astronomy, Global Positioning System; Map preparation;
       Photogrammetry; Remote sensing concepts; Survey Layout for culverts, canals, bridges, road/railway
       alignment and buildings, Setting out of Curves.
    2. Geology: Basic knowledge of Engineering geology & its application in projects.
12. Transportation Engineering:
    1. Highways: Planning & construction methodology, Alignment and geometric design; Traffic Surveys and Controls; Principles of Flexible and Rigid pavements design.
    2. Tunneling: Alignment, methods of construction, disposal of muck, drainage, lighting and ventilation.
    3. Railways Systems: Terminology, Planning, designs and maintenance practices; track modernization.
    4. Harbours: Terminology, layouts and planning. Airports – Layout, planning & design.

SEBI Grade A Assistant Manager Previous Year Question Papers with solutions (2018-2023)

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