The job profile of a SEBI Grade A Legal Officer includes the following responsibilities:

  • Taking care of SEBI’s legal matters
  • Approving and amending stock exchange by-laws
  • Inspecting accounts of stock exchanges and stockholders
  • Recognizing and correcting any malpractices within the security market
  • Educating investors about the security market
  • Suspending security trading of a stock exchange
  • Allowing and withdrawing recognition of a stock exchange (when required)

Understanding the eligibility criteria before applying for the SEBI Grade A Legal exam is important as it ensures a seamless application process and prevents unintentional disqualification. Without a clear understanding of these criteria, you may unknowingly overlook certain requirements, leading to disqualification from the selection process. This could result in losing a valuable opportunity and hinder your dream of joining SEBI as a Grade A Legal officer. 

 

Eligibility criteria for the SEBI Grade A Legal examination are as follows:

 

  • Eligibility: Age Limit

For the SEBI Grade A Legal exam, there is no minimum age requirement. However, a candidate must not have exceeded the age of 30 years (As of 31 May 2024).

1.1. Age Relaxation

Here are some age relaxations for some specific categories. 

 

SEBI Grade A Legal: Age Limit Relaxation
SNo. Category Age Relaxation Upper Age Limit
1 General None 30
2 OBC (Non-Creamy Layer) 3 Years 33
3 SC/ST 5 Years 35
4 Ex-servicemen 5 Years 35
5 PwD (UR) 10 Years 40
6 PwD (OBC) 13 Years 43
7 PwD (SC/ST) 15 Years 45

  • Educational Qualification

Mandatory Qualification: Bachelor’s Degree in Law from a recognized University/Institute 

Desirable Experience: Two years post-qualification experience as an Advocate (including as an associate in an Advocate’s or Solicitor’s Office or Law firm) after being enrolled under the Advocates Act, 1961 (25 of 1961) shall be a desirable qualification.

The SEBI Grade A Legal exam is a 3-phase selection process. Each phase is designed to assess the different skills and knowledge required for the role.

  1. Phase 1 (Pre)
  2. Phase 2 (Mains)
  3. Phase 3 (Interview)

SEBI Grade A Legal Phase 1 Exam Pattern

The SEBI Grade A Legal Phase 1 exam is an objective-type test that evaluates the candidate’s fundamental knowledge and understanding of various subjects. It is qualifying in nature and serves as a screening test to shortlist candidates for the next rounds of the examination. Phase 1 consists of 2 papers.

Phase 1

SEBI Grade A Legal Phase 1
Paper Streams/ Subjects Maximum Marks Duration Cut off
Paper 1 Multiple choice questions on the subjects viz. General Awareness (including some questions related to the Financial Sector of easy to moderate difficulty level), English Language, Quantitative Aptitude, and Test of Reasoning. 100 60 Minutes 30%
Paper 2 Multiple choice questions of one mark each on Specialized subject related to stream 100 40 Minutes 40%
Aggregate Cut-off 40%
  • There shall be negative marking (1/4th of marks assigned to the question) for Paper 1 and Paper 2 in Phase 1.
  • There shall be a cut-off of a minimum of 30% marks for Paper 1 (no sectional cut-off shall be there) and a cut-off of a minimum of 40% marks for Paper 2 in Phase 2.
  • Candidates would need to secure separate cut-offs in each paper as well as aggregate cut-off marks of 40% in the Phase 1 exam to be shortlisted for Phase 2. Marks obtained in Phase 1 shall be used only for shortlisting the candidates for the Phase 2 examination process and will not be counted for the final selection of the candidates.
  • All the candidates who clear Phase 1 shall be shortlisted for Phase 2. A list of candidates shortlisted for Phase 2 will be made available on the SEBI website.

Phase 2 Pattern

The Phase 2 examination of SEBI Grade A Legal consists of 2 papers of 100 marks each.

SEBI Grade A Legal Phase 2
Paper Streams/ Subjects Maximum Marks Duration Cut off Weightage
Paper 1 English (Descriptive Test) to test the drafting skills 100 60 Minutes 30% 1/3rd
Paper 2 70 Multiple choice questions of one mark each on Specialized subject related to stream 100 60 Minutes 40% 2/3rd
3 Descriptive Questions of 10 marks each on Specialized subject related to stream (Answers to be typed with the help of the keyboard. Candidates opting to type the answers in Hindi may type with the help of either: (i) Inscript or (ii) Remington (GAIL) keyboard layout 60 Minutes
Aggregate Cut-off 50%
  • Candidates shortlisted for Phase 2 will be issued new Hall Tickets.
  • There shall be negative marking (1/4th of marks assigned to the question) for Multiple Choice Questions (MCQs) of Paper 2 in Phase 2.
  • There shall be a cut-off of a minimum of 30% marks for Paper 1 and a cut-off of a minimum of 40% marks for Paper 2 in Phase 2. 
  • Candidates would need to secure separate cut-offs in each paper as well as aggregate cut-off marks of 50% in the Phase 2 exam (weightage of 1/3rd for Paper 1 and 2/3rd for Paper 2) to be shortlisted for Phase 3.
  • Candidates equaling 3 times the number of vacancies shall be shortlisted, in order of merit, for Phase 3 i.e. the Interview. A list of candidates shortlisted for the Interview will be made available on the SEBI website.

Phase 3 Pattern

The details of Phase 3 of the SEBI Grade A Legal examination are as follows.

  • Only the shortlisted candidates of Phase 2 will be called for an interview. Candidates may opt for an interview either in Hindi or English. The weightage of marks obtained in Phase 2 will be 85%, while marks obtained in the interview shall be given a weightage of 15%. However, due weightage up to a maximum of 1.5 marks (i.e. 10% of 15) will be given to candidates with relevant post-qualification experience.
  • The details of the weightage of marks during the interview are as indicated below:
S.No. Particulars Weightage of Marks Max Marks
1 Interview 90% 13.5
2 Relevant Post-Qualification Experience 10% 1.5
Total 100% 15

Only those candidates who fill in details of relevant post qualification experience while filling out the online application form shall be considered for awarding due weightage marks during the interview.

Phase 1 Paper 1 Syllabus

The exact syllabus of Phase 1 Paper 1 is not provided in the notification. The below topics have been listed based on the previous year’s papers of the SEBI Grade A Legal exam.

Reasoning

  1. Alphabetical, Alphanumeric Series
  2. Coding & Decoding
  3. Syllogism
  4. Direction Sense
  5. Inequality
  6. Ranking
  7. Blood Relation
  8. Seating Arrangement
  9. Puzzles
  10. Machine Input Output
  11. Statement – Assumption
  12. Statement – Course of Action
  13. Cause and Effect
  14. Statement Argument
  15. Statement Conclusion
  16. Data Sufficiency

Quantitative Aptitude

  1. Percentage
  2. Profit & Loss, Discount
  3. Ratio & Proportion
  4. Simplification
  5. Simple & Compound Interest
  6. Time & Work
  7. Pipes & Cistern
  8. Number Series
  9. Time Speed & Distance, Trains, Boats
  10. Mixture
  11. Average
  12. Ages
  13. Partnership
  14. Area, Volume
  15. Probability
  16. Data Interpretation
  17. Quadratic Equation
  18. Number System
  19. Quantity Comparison
  20. Data Sufficiency

English

  1. Grammar
  2. Error Spotting
  3. Sentence Improvement
  4. Comprehension Ability
  5. Comprehension passage
  6. Cloze Test
  7. Rearrangement
  8. Para Jumbles
  9. Double Fillers
  10. Vocabulary – Synonyms, Antonyms, One-word Substitution, Phrasal Verbs

General Awareness

  1. National News: MoUs, summits, and major events related to India.
  2. International: Summits and conferences held abroad.
  3. Financial & Economics News
  4. Financial Awareness: RBI and SEBI Notification and Regulations
  5. Defence: Military exercises, drills, and major updates related to the defence sector of India
  6. Days in News: Major events or days, along with its date, and theme
  7. Persons in News: Obituaries, appointments, retirements
  8. Sports: Major tournaments and its winners
  9. Science, Technology, and Space
  10. Awards and honours
  11. Environment
  12. Banking, Economy related news
  13. Reports and Government Schemes
  14. Books and Authors
  15. Static GA – Chief Ministers and Cabinet Ministers, National Parks and Sanctuaries, Organisations’ Headquarters, Banks’ Headquarters and Taglines, Power Plants in India, Indian Dance Forms, Countries’ Capitals and their Currencies.

Phase 1 Paper 2 Syllabus

Here is the detailed SEBI Grade B Legal Phase 1 Paper 2 Syllabus:

 

S.No Subject Weightage
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) 20%
2 Contract Law

  • Indian Contract Act, 1872
  • Sale of Goods Act, 1930
  • Indian Partnership Act, 1932
  • Specific Relief Act, 1963
 25%
3 Code of Civil Procedure, 1908 (Part I, Part II, Part III, Part IV, Part V, Part VII, Schedule I) 25%
4 Transfer of Property Act, 1882 (Chapter III, Chapter IV, Chapter V)
5 Arbitration and Conciliation Act, 1996 (Part I)
6 The Limitation Act, 1963
7 Administrative Law 20%
8 Jurisprudence and Interpretation of Statutes
9 Important Latin terms and maxims
10 Law of Torts and Consumer Protection Act, 2019 10%

 

Phase 2 Paper 2 Syllabus

Here is the detailed SEBI Grade B Legal Phase 2 Paper 2 Syllabus:

 

S.No Subject Weightage
1 Criminal Law – Indian Penal Code, 1860 (Chapter I, Chapter II, Chapter III, Chapter IV, Chapter V, Chapter VA, Chapter VI, Chapter IX, Chapter XVII, Chapter XXI, Chapter XXII, Chapter XXIII); Code of Criminal Procedure, 1973. 30%
2 Law of Evidence – Indian Evidence Act, 1872
3 Corporate Laws Companies Act, 2013; Limited Liability Partnership Act, 2008; Insolvency and Bankruptcy Code, 2016 (Part I, Part II). 30%
4 Securities Laws – Securities Contracts (Regulation) Act, 1956; Securities and Exchange Board of India Act, 1992; Depositories Act, 1996; Securities and Exchange Board of India (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995; Securities Appellate Tribunal (Procedure) Rules, 2000; 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; Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018; Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018. 40%

SEBI Grade A Legal 2022 Cut-off (16 Vacancies)

 

Phase 2 and 3 General OBC EWS SC ST PwBD
Paper 1 – English​

Paper 2 – Legal stream​

Paper 3 – Interview

 69.08 63.82 63.64 65.22 58.64 57.25

* The weightage of marks obtained in Phase II will be 85%, while marks obtained in the interview shall be given a weightage of 15%.

SEBI Grade A Legal 2020 Cut-off (28 Vacancies)

 

Phase 2 and 3 General OBC EWS SC ST PwBD
Paper 1 – English​

Paper 2 – Legal stream​

Paper 3 – Interview

 71.07 59.80 61.79 58.07 43.50 59.48

* The weightage of marks obtained in Phase II will be 85%, while marks obtained in the interview shall be given a weightage of 15%.

 

SEBI Grade A Legal 2018 Cut-off (18 Vacancies)

Phase 2 and 3 General OBC SC ST PwBD
Paper 1 – Financial Sector​

Paper 2 – English​

Paper 3 – Legal stream​

Interview

 57.18 No Candidate​ Qualified  No Candidate​ Qualified  No Vacancy No Candidate​

Qualified 

 

* The weightage of marks obtained in Phase II will be 85%, while marks obtained in the interview shall be given a weightage of 15%.

Cut-Off Comparison

Here is the comparison of the previous years’ cut-offs: 

2022 2020 2018
Final Cut-Off 69.08 71.07 57.18

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