Confused over IFSCA Grade A Exam’s Eligibility? Here is a Solution

The IFSCA Grade A recruitment notification was out recently and many people are confused related to the eligibility of the exam. So, here is a big opportunity for all the graduates. In a reply to our query, the Office of the Chairperson, IFSCA, has clarified that graduates from all streams can apply for IFSCA Grade A exam. This information unlocks a huge opportunity for those students who have been preparing hard for banking and regulatory bodies exams. Commerce and economics graduates have an edge over others, seeing its vast syllabus. However, we see a lot of engineering graduates excel at these exams each year. Please find the screenshot below. Let’s now take a sneak peak into the IFSCA Grade A selection process:

IFSCA Grade A 2023 Free Mock Test

 

IFSCA Grade A Selection Process

Phase I (Online Exam) => Phase II (Online Exam) => Phase III (Interview)

Phase I Online Exam

An online screening examination consisting of two papers (Multiple Choice questions of 100 marks each) will be held in March/April 2023 (tentatively). The exam will consist of:

Paper	Streams/ Subjects	Maximum Marks	Duration	Cut off
Paper 1	Multiple choice questionsGeneral awareness (financial sector) -25 questions X 1 mark eachEnglish language – 25 questions X 1 mark each Quantitative Aptitude – 25 questions X 1 mark each Test of Reasoning- 25 questions X 1 mark each	100	60 minutes	30%
Paper 2	Multiple choice questions on General knowledge, Current events of national and international importance, Economic and social development (sustainable development, poverty, inclusion, and demographics), Commerce, Accountancy,Management, Finance and costing, Indian Economy, Global Economy, Five-year plans, Central Government’s initiatives/ Schemes in the financial sector.(50 questions X 2 marks each)	100	60 minutes	40%
	Aggregate Cut off			40%

 Note:

1. There shall be negative marking (1/4th of marks assigned to the question) for the Paper 1 and Paper 2 in Phase I.
2. There shall be a cut-off of minimum 30% for Paper 1 (no sectional cut-off shall be there) and a cut-off of minimum 40% for Paper 2 in Phase I.
3. Candidates would need to secure separate cut-off in each paper as mentioned at (ii) above as well as aggregate cut-off marks of 40% in Phase I exam to be shortlisted for Phase II. Marks obtained in Phase I shall be used only for shortlisting the candidates for Phase II examination process and will not be counted for final selection of the candidates.
4. Subject to the criteria mentioned at 3 above, all the candidates who clear Phase I shall be shortlisted for Phase II. List of candidates shortlisted for Phase II will be made available on IFSCA website.
5. All question papers except the test of English will be set bilingually in Hindi and English.

IFSCA Grade A 2023 Free Mock Test

Phase II On-Line Examination:

An on-line examination consisting of two papers of 100 marks each will be held in April/ May 2023 (tentatively). The papers shall be as follows:

Paper		Maximum Marks	Duration	Cut off	Weightage
Paper 1	English (Descriptive Test)(a) Precis Writing – 35 marks(b) Essay writing – 30 marks(c) Comprehension- 35 marks	100	60minutes	30%	1/3rd
Paper 2	Multiple choice questions on subjects like IFSCA Act, Union Budget, Economic Survey, Banking, Capital Market, Insurance, Pension Funds, Bullion, GIFT City, GIFT IFSC, IFSCA, Global Financial Centres etc.(50 questions X 2 marks each)	100	60minutes	40%	2/3rd
	Aggregate Cut off			40%

Note:

1. Candidates shortlisted for Phase II will be issued new Hall Tickets.
2. There shall be negative marking (1/4th of marks assigned to the question) for Paper 2 in Phase II
3. There shall be a cut-off of minimum 30% for Paper 1 and a cut-off of minimum 40% for Paper 2 in Phase II.
4. Candidates would need to secure separate cut-off in each paper as mentioned above as well as aggregate cut-off marks of 40% in Phase II exam (weightage of 1/3rd for Paper 1 and 2/3rd for Paper 2) to be shortlisted for Phase III.
5. Subject to the criteria mentioned above, candidates equaling 3 times the number of vacancies shall be shortlisted, in order of merit, for Phase III i.e. the Interview. List of candidates shortlisted for Interview will be made available on IFSCA website.
6. All question papers except the test of English will be set bilingually in Hindi and English.

IFSCA Grade A 2023 Free Mock Test

Phase III- Interview

Only the shortlisted candidates will be called for interview. Application fee shall not be refunded to the candidates not shortlisted for Phase II and Interview. Weightage of marks obtained in Phase II will be 85%, while marks obtained in interview shall be given a weightage of 15%.

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In order to do the best preparation for this exam we have launched a free mock test which is based on the actual exam pattern. Candidates can attempt the IFSCA Grade A Phase 1 Paper 1 – 1 to know about their exact preparation levels.