The International Financial Services Centres Authority (IFSCA) has recently announced the commencement of Phase 2 of their recruitment process. As a part of this, the IFSCA has released a notification about the conduction of an exam, which is expected to take place in the month of April/May 2023.
For those unfamiliar with the IFSCA, it is a regulatory body that oversees and regulates financial services in International Financial Services Centres (IFSCs) across the country. This recruitment drive presents an incredible opportunity for individuals looking to join a dynamic and rapidly growing sector.
The IFSCA Grade A exam 2023 will test candidates on various aspects related to the financial sector, including financial markets, banking, insurance, and capital markets. The IFSCA Phase 2 exam is expected to be highly competitive and rigorous, so candidates are advised to start preparing early and stay updated with the latest developments and updates from the IFSCA.
This recruitment drive by the IFSCA presents a unique opportunity for candidates to not only join a growing sector but also to work towards building a strong and stable financial system. So, gear up, stay focused, and give it your best shot! The IFSCA Phase 2 exam is undoubtedly an excellent opportunity for candidates looking to establish a career in the financial sector. However, preparing for such a competitive exam can be overwhelming. Worry not, as we have some valuable preparation strategies to make your journey smoother and more effective.
IFSCA Phase 2 2023: An overview
IFSCA Phase 2 Syllabus
The IFSCA Phase 2 recruitment process is a multi-stage selection process for various positions in the IFSCA. The process consists of two written exams, Paper 1 and Paper 2, followed by an interview.
Paper 1 is a multiple-choice exam that tests the candidate’s knowledge of the English language. In contrast, Paper 2 is a descriptive exam that tests the candidate’s knowledge in the specific domain they have applied for, such as Law, Finance, Economics, or Management. Candidates who qualify for Paper 1 are eligible to appear for Paper 2. The marks obtained in Paper 1 are not considered for the final selection; however, a candidate needs to score a minimum of 50% marks in Paper 2 to qualify for the interview round. Take a look at the IFSCA Grade A syllabus below.
| Paper | Streams / Subject |
| Paper 1 | English Descriptive Test Precise Writing Essay Writing Comprehension |
| Paper 2 | Multiple choice questions on subjects: IFSCA Act Union Budget Economic Survey Banking Capital Market Insurance Pension Funds Bullion GIFT City GIFT IFSC IFSCA Global Financial Centres etc. |
IFSCA Phase 2 Exam Pattern
The exam pattern for IFSCA Grade A Phase 2 is mentioned below:
- Both Phase 1 and Phase 2 online exams will consist of two papers each.
- Phase 1 exam will have a negative marking of 0.25 marks for each wrong answer in papers 1 & 2. Whereas the Phase 2 exam will have a negative marking of 0.25 marks for each wrong answer in paper 2 only
- The exam will consist of multiple-choice questions
| IFSCA Grade A Phase 2 | No. of Questions | Duration |
| Paper 1 | 100 | 60 mins |
| Paper 2 | 50 | 60 mins |
IFSCA Phase 2 Preparation Strategy
Tips for IFSCA Phase 2 Paper 1: Descriptive English
- Practice writing: The best way to improve your writing skills is by practicing regularly. Write essays, articles, letters, and other types of written communication to enhance your writing skills.
- Read extensively: Read extensively to improve your vocabulary and grammar skills. Reading also helps you to understand the structure of sentences and how to organize your thoughts logically.
- Plan and organize: Before you start writing, plan your ideas and organize them into a structured outline. This will help you to write coherently and logically, making your essay easier to read and understand.
- Use simple language: Avoid using complex words and convoluted sentences that may confuse the reader. Instead, use simple language and write in a clear, concise and straightforward manner.
- Revise and edit: After completing your essay, revise and edit it to correct any grammatical errors, spelling mistakes, and punctuation errors. This will help you to present a polished and professional essay.
- Time management: Manage your time wisely, allocating sufficient time for planning, writing, revising, and editing your essay.
By following these tips, you can improve your writing skills and perform well in the Descriptive English section of the IFSCA Phase 2 Paper 1 exam.
Tips for IFSCA Phase 2 Paper 2: MCQ
- Read the question carefully: Make sure to read the question thoroughly and understand what it’s asking before attempting to answer it.
For example: Question: Which act regulates the operations of International Financial Services Centres in India?
- Focus on keywords: Look for keywords in the question that may help you identify the relevant information. Keywords can be specific terms, phrases, or concepts that are central to the topic being discussed.
For example: Question: Which act regulates the operations of International Financial Services Centres in India? “Keyword: International Financial Services Centres”
Answer: IFSCA Act
- Eliminate incorrect answers: Sometimes, you can eliminate one or more answer choices based on your knowledge of the subject.
For example: Question: Which of the following is not a capital market instrument?
Answer choices: a) Equity shares b) Bonds c) Mutual funds d) Savings account
Eliminated answer: d) Savings account
- Guess intelligently: If you’re unsure about the answer, use your knowledge and logical thinking to make an educated guess. Eliminate answer choices that are obviously wrong and make an educated guess based on the remaining options.
For example: Question: Which city in India has the first International Financial Services Centre?
Answer choices: a) Mumbai b) Bangalore c) GIFT City d) Kolkata Keyword: International Financial Services Centre
Educated guess: c) GIFT City
By using these strategies, you can improve your chances of answering multiple-choice questions correctly and effectively.
Free Mock tests
With the IFSCA Phase 2 exam being a highly competitive and challenging exam, it is essential to prepare well in advance and equip yourself with the necessary skills and knowledge. One effective way to prepare for the exam is by using ixamBee’s IFSCA Grade A Phase 2 mock tests.
ixamBee is an excellent platform that offers a range of IFSCA Phase 2 mock tests and study material designed specifically for the IFSCA Phase 2 exam. The mock tests are created by experts in the field and are designed to simulate the actual exam experience. This can help you to build confidence, improve your accuracy, and increase your speed.
Summing Up
With the right strategies and mindset, you can set yourself up for success. By following the tips and strategies mentioned above, you can feel confident and well-prepared to ace the IFSCA Phase 2 exam.
So, as you embark on this journey to ace the IFSCA Phase 2 exam, we wish you the best of luck! Believe in yourself, stay motivated, and stay focused on your goals. With your determination and these effective preparation strategies, you’re sure to excel in the exam and achieve your dreams.
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Also Read
IIFCL 2023 Recruitment Notification