IFSCA Grade A Syllabus: Paper 1 and Paper 2
A standard aptitude paper, then a discipline paper with a block no other regulator exam tests: the IFSC framework itself.
The IFSCA Grade A syllabus covers two papers per phase. Paper 1 is common to all streams: General Awareness with a financial-sector tilt, English Language, Quantitative Aptitude and Reasoning. Paper 2 is the discipline paper; for the General stream it spans finance, management and securities markets, plus a block unique to this exam, the IFSC framework and regulatory environment.
That last block is the strategic heart of the syllabus. Every other regulator exam's material overlaps with bank PO and SEBI preparation; the IFSCA Act, GIFT City ecosystem and IFSC regulations overlap with nothing candidates already have. It is where prepared and unprepared candidates separate.
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Paper 1 Syllabus: Common to All Streams
- check_circleReasoning: puzzles and seating arrangement, syllogism, coding-decoding, blood relations and directions, inequality, data sufficiency, logical and analytical reasoning
- check_circleEnglish Language: reading comprehension, grammar and error spotting, cloze test, para jumbles, vocabulary, plus descriptive writing in Phase 2
- check_circleQuantitative Aptitude: data interpretation, arithmetic, number series and simplification, algebra and mensuration basics, probability and permutations-combinations
- check_circleGeneral and financial-sector awareness: current affairs in economy and finance, banking and financial awareness, international finance and the global economy, Indian economy and commerce, financial-market news, static GK
Paper 2: Finance, Management and Securities Markets
The conventional half of the General stream's discipline paper:
- check_circleFinancial system and markets
- check_circleSecurities markets: the SEBI framework, instruments, trading and settlement
- check_circleBanking and NBFCs
- check_circleRisk management and prudential norms
- check_circleCorporate finance and financial statements
- check_circleManagement: leadership, organisational behaviour, governance and ethics
Paper 2: The IFSC Framework Block
The part of the syllabus specific to this exam:
- check_circleThe IFSCA Act 2019 and the unified-regulator role
- check_circleThe GIFT City / IFSC ecosystem
- check_circleIFSC banking, insurance, capital-market and fund regulations
- check_circleFEMA and cross-border finance
- check_circleFintech, and aircraft and ship leasing in the IFSC
- check_circleGlobal international financial centres
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Legal and IT Streams Sit Different Paper 2s
Legal candidates face a law paper and IT candidates a technical paper that includes a coding test in Phase 2. Paper 1 is identical for everyone. Stream-wise syllabus detail is published in IFSCA's notification for each cycle.
How the Syllabus Maps Across the Phases
As with the other regulator exams, the phases share subjects and differ in depth and format. Phase 1 tests both papers objectively. Phase 2 turns Paper 1 into a descriptive English writing paper and takes Paper 2 deeper into the discipline, so preparing straight to Phase 2 depth covers both phases at once.
IFSCA Grade A Syllabus FAQs
What makes the IFSCA Grade A syllabus different from other regulator exams?expand_more
The IFSC framework block: the IFSCA Act 2019, the GIFT City ecosystem, IFSC-specific regulations across banking, insurance, capital markets and funds, FEMA and cross-border finance, and global financial centres. No other Indian regulator exam tests this material.
What does Paper 1 cover?expand_more
Four areas common to all streams: General Awareness with a financial-sector focus, English Language, Quantitative Aptitude and Reasoning.
Is there a coding test in IFSCA Grade A?expand_more
Only for the IT stream, whose Phase 2 discipline paper includes a coding test.
Next steps
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