For anyone looking for a career in finance that goes beyond banking, the IFSCA offers something fresh. The International Financial Services Centres Authority, known as IFSCA is a regulatory body which was established in April 2020 with its headquarters in Gandhinagar, Gujarat. The central aim of IFSCA was to be able to represent the very first international financial service in India. Before the establishment of this organization, regulatory bodies like the RBI, PFRDA, SEBI, and IRDAI were given charge of international financial services. But the idea of a separate organization to serve this purpose originated when the need for acceleration in the operation and development of IFSC became the need of the hour. That was when the IFSCA was born. For anyone with a finance background looking to work in something besides banking, the IFSCA Grade A Exam 2024 offers a lot of attractive opportunities and the most important thing of all-job security to those who want to build a career here.
If you want to have a long and fruitful career with the IFSCA, you are just in time. The IFSCA has recently released its recruitment notification for 2024 on March 27, 2024. The application invited recruits for the post of Assistant Manager (General stream and Legal Stream) in Grade A. IFSCA hopefuls who want to appear for this opportunity can now register for the Grade A exam from March 28, 2024, to April 21, 2024. The IFSCA Grade A recruitment 2024 has a lot of details about the application method, number of vacancies, exam date, eligibility criteria, exam pattern and so much more.
We are hoping to provide IFSCA aspirants with enough information about the new recruitment opportunity that has popped up. That’s why you need to continue reading this blog because we will provide details about the exam’s eligibility criteria, exam pattern and syllabus and some preparation tips that will go a long way in helping you prepare for the exam. So read on to know more about the exam and recruitment for IFSCA Grade A Exam 2024.
IFSCA Grade A Officer Exam 2024: Eligibility Criteria
Before we dive deep into the preparation strategies or even the exam details of the IFSCA Recruitment, you need to know how qualified you are for the exam. As you know, the IFSCA has recently released the IFSCA Grade A Notification 2024. Anyone who hopes to clear the exam needs to take a look at the eligibility criteria which is mentioned in the recruitment notification if they hope to appear for the exam. One of the first criteria that needs to be fulfilled is that candidates who hope to appear for the exam need to hold either a Bachelor’s Degree or a Master’s Degree in related subjects like law, finance, IT and so on.
Along with that, aspirants for the exam need to also be very aware of the age limits and other criteria that is mentioned in the notification. Knowing this means you will be aware of how eligible you are to appear for the IFSCA Exam 2024. As mentioned earlier, it is important to be aware of the IFSCA Grade A Eligibility Criteria. Knowing it will help candidates who are looking for a good career with the organization be better prepared for what lies ahead. The criteria include, besides educational qualification, including age limits, and relevant experience. You need to have a complete understanding of these conditions. That will be very helpful for any applicants who want to apply but do not have eligibility for it to look for positions where they have a better chance.
The IFSCA Grade A Eligibility Criteria helps students establish a much clearer path while they prepare for the exam. For example, the notification mentions the age range should be limited to those who turn 30 by February 1, 2024. In addition to all these qualifications, the exam does not require its applicants to have prior work experience. This means there will be more inclusivity, providing more chances for fresh graduates to enter a fulfilling career path. You can have a look at the table below to know more about the IFSCA Grade A Eligibility Criteria.
| Eligibility Criteria | Requirements |
| Educational Qualifications | Master’s Degree with specialization in Statistics/ Economics/ Commerce/ Business Administration (Finance)/ Econometrics. OR Bachelor’s degree in Information Technology/ Computer Science/ Master’s in Computer Application/ Information Technology. OR Bachelor’s degree in commerce with CA, CFA, CS, ICWA. OR Bachelor’s degree in Law or in any other discipline from a recognized University |
| Age Criteria | 30 years as on February 01, 2024. |
| Age Relaxation | As Per Government Norms |
| Work Experience | Not Required |
IFSCA Grade A Officer Exam 2024: Exam Pattern and Syllabus
There needs to be a complete understanding of the IFSCA Grade A Exam Pattern and Syllabus if you are hoping to clear the exams in 2024. The IFSCA Grade A Exam will have a mode of selection which will be a three-phase process. Phase 1 will have an online screening exam of two papers of 100 marks each. Phase 2 will also have an online exam of two papers, both of 100 marks each. On the other hand, the third phase is an interview stage. The Phase 3 stage will only occur of the candidate clears phases 1 and 2. Now that you understand the exam structure, let’s dive deeper into the exam pattern and then look at the exam syllabus.
Of the two online written exam stages, phase 1 will be conducted sometime in April. The exam will have two papers. They will be multiple choice questions and as mentioned earlier, they will be 100 marks each. Phase 2 of the IFSCA Grade A Exam is expected in May. Like the phase 1 exam, the phase 2 exam also has two papers of 100 marks each. The Paper 1 will have a Descriptive English Test, which will comprise of 3 questions: Precis Writing, Essay Writing and Comprehension. You should be aware that all answers need to be typed out on a computer. On the other hand, Paper 2 will consist of multiple-choice questions on various subjects, such as t IFSCA Act, Union Budget, Economic Survey, Banking, Capital Market, Insurance, Pension Funds, Bullion, GIFT City, GIFT IFSC, IFSCA, Global Financial Centres etc.
| IFSCA Grade A Phase 1 Exam Pattern | ||||
| Paper | Subject | Questions | Marks | Duration |
| Paper 1 | General awareness | 25 Questions | 25 Marks | 1 Hour |
| English Language | 25 Questions | 25 Marks | ||
| Quantitative Aptitude | 25 Questions | 25 Marks | ||
| Reasoning Ability | 25 Questions | 25 Marks | ||
| Total | 100 Questions | 100 Marks | ||
| Paper 2 | 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 | 100 Marks | 1 Hour |
| IFSCA Grade A Phase 2 Exam Pattern | ||||
| Paper | Subject | Questions | Marks | Duration |
| Paper 1 | Precis Writing | 35 | 100 Marks | 1 Hour |
| Essay Writing | 30 | |||
| Comprehension | 35 | |||
| Total | 100 Questions | |||
| Paper 2 | IFSCA Act, Union Budget, Economic Survey, Banking, Capital Market, Insurance, Pension Funds, Bullion, GIFT City, GIFT IFSC, IFSCA, Global Financial Centres etc. | 50 Questions | 100 Marks | 1 Hour |
Now coming to the syllabus for the IFSCA Grade A Exam, both phases of the exam require diligent preparation. As mentioned earlier, the IFSCA Grade A exam for phase 1 has two papers. The first paper is common for all the streams and candidates should be prepared for subjects such as English Language, Quantitative Aptitude, Reasoning Ability and General Awareness. For the General awareness section, aspirants can refer to BeePedia which is a one-stop source for all general awareness content requirements for exams conducted by regulatory bodies.
Paper 2 will contain multiple choice questions: General Knowledge and Current Events of National and International Importance, Economic and Social Development, Commerce, Accountancy, Management, Finance, etc. While candidates for legal stream will be asked to answer questions pertaining to specialized subjects. The IFSCA Grade A Phase 2, on the other hand will focus on the Descriptive section for paper 1 and multiple-choice questions for paper 2 as mentioned in the exam pattern above. Needles to say, aspirants should be prepared for the essay, precis and comprehension writing segment for paper 1. For the paper 2 syllabus, aspirants should focus on stream-based preparation. The syllabus is similar for both phases and the same is given in the table
| Subjects | Topics |
| Reasoning Aptitude | Commonsense Reasoning, Coding Decoding, Coded Inequalities, Syllogism, Seating Arrangement, Puzzles, Coded Blood Relationship, Input Output, Direction and Distance, Ranking, Analytical Reasoning, Section Test Reasoning |
| Quantitative Aptitude | No. System, Percentage, Profit and loss, Ratio and proportion, Partnership, Average, Alligation, Simple and compound interest, Time and distance, Trains, Permutation and combination, Probability, Quadratic equation, Series, Mensuration, DI, Age, HCF and LCM, Simplification, Approximation, Time and work and Pipe and Cisterns, Short Cut Tricks, Section Test Quant, Caselet DI, Venn diagram |
| English Language | Tense, Parts of Speech, Direct Indirect Speech, Active passive voice, Articles and Determiners, Cloze Passage, Fillers, Reading Comprehension, Sentence Rearrangement / Parajumbles, Spotting Errors, Idioms and Phrases, Sentence Improvement, Coherent paragraph, Vocabulary, Section Test English Language, Sentence Connectors, Match the column, Subject Verb Agreement, Word Swapping / Replacement, Word Usage, Phrasal Verbs, The Hindu Editorial Discussions, Precis Writing, Essay Writing, Descriptive English Mock Test, Reading Comprehension in English Writing |
| General Awareness | Economy and Banking and Finance Static Concepts, Static GA, Budget and Economic Survey, Summary of Yojana Magazine and MCQ, Important Reports and Indices, Government Schemes, Monthly Quiz General Awareness, Beepedia, Economy and Banking and Finance Current Affairs, PIB Current Affairs |
| Economic and Sustainable Development | Growth and Sustainable development, Inclusion and Demographic |
| Finance, Union Budget and Economic Survey | Financial Institutions, Basics of Derivatives, Financial Markets, Money Market, Capital Market, Financial Inclusion, Alternate Sources of Finance, Bonds and Bond Market, Mutual Funds, RBI and SEBI Circulars, Financial System, Union Budget and Economic Survey |
| Management | The Management Basics, Leadership Concept, Human Resource Development, Motivation, Communication, Section Test Management |
| Indian and Global Economy | Indian Economy, Global Economy |
| Banking and Capital Market | Financial Markets, Financial System, General Topics in Finance, Banking |
| Insurance and Pension Sector | Insurance Awareness, Pension |
| Commerce and Accounts, Costing | Accounting Standards, Accounting for Share capital Transactions, Other financial concepts, Accounting as financial info system, Financial Statements, Cash flow, fund flow – preparation and analysis, Taxation Related, Section test Accounts, Methods of costing, Basics of Cost control and analysis, Lean systems, Overview of Costing, Section Test Costing |
IFSCA Grade A Officer Exam 2024: Preparation Strategies
Now that we have talked about the exam pattern and syllabus for the IFSCA Exam 2024 let us take a look at some of the tips to help you prepare for the exam.
- Understand the Exam Pattern and Syllabus: Before you begin your exam preparation, it is important that you try to understand the exam pattern and syllabus for the IFSCA exam. This is quite important if you want to chart out an effective study plan. A clear understanding of the exam’s format and topics will be helpful for you. You will be able to focus on key areas and improvise your preparation too. This simple step will help you become more well-organized and help you in preparing for the examination successfully.
- Create a Realistic Study Schedule: The next step is to come up with a more practical schedule suitable for the remaining time before the IFSCA Grade A exam. You need to devote plenty of time to each section. Make sure that you have a balanced approach to your preparation. Give importance to the topics based on your strengths and weaknesses. This means you need to take more time for subjects you need to improve. This strategy will help you improve your proficiency in challenging subjects while reinforcing your strengths.
- Use High-Quality Study Materials: You can create a lot of changes on your exam preparation by taking time to collect high-quality study materials and recommended books. You need to build a strong foundation in the subjects you know while building a base for those you’re not comfortable in. You also need to use online resources like ixamBee’s IFSCA Grade A Online Course and practice papers to improve your understanding of the subject and improve your exam-solving skills.
- Focus on the Basics: The simplest strategy is to just stick to the basics. This means making sure that your basic knowledge in in subjects like Quantitative Aptitude, Finance and Economics as well as Reasoning, and English is quite strong. This is because they are the important parts for the specialized sections related to the Economics and Finance related sections of the IFSCA Exam. A strong foundational knowledge in these subjects will help you lay the groundwork for tackling the more complex topics within the agricultural and rural development sections.
- Current Affairs: Another important strategy is to make sure you have a very strong base in current affairs, particularly in events that relate to India’s relationship with financial and economic policies and commerce based topics that relate to the Indian economy. You need to be updated on this by regularly reading newspapers and magazines. You should also check out online platforms and social media to be updated on the events happening around the world.
- Mock Tests and Previous Year Papers: You need to keep up the regular practice of attempting mock tests and solving previous year papers into your IFSCA Grade A exam preparation routine. This strategic approach will bring you close to the exam structure and help you improve upon your time management skills. This in turn will help you understand those areas that need more focus. IFSCA Grade A Mock Tests by ixamBee will recreate the actual exam environment, allowing you to assess your performance. You can also identify your strengths and pinpoint your weaknesses. too.
- Revision is Important: It’s common knowledge that practice makes perfect and we really couldn’t agree more. You need to constantly update your understanding of the topics. This can only be done revising the topics repeatedly. You should try to create more concise and comprehensive notes that includes all the important key concepts for easier revision. This is quite important in the final days leading up to the IFSCA Grade A exam. This revision strategy strengthens your memory and helps ensure all the important information is readily accessible during the exam.
- Healthy Lifestyle: Don’t forget to prioritize a healthy lifestyle. This can only be done by ensuring that you get adequate sleep, maintaining a well-balanced diet, and being more active. When you have a harmonious lifestyle, it helps to bring about better concentration and improves your inane cognitive abilities. Getting good quality sleep revitalizes your mind. It allows you to focus more during study sessions.
- Stay Positive: You should try to maintain a positive attitude throughout your exam preparation. You need to have some confidence in your efforts. Remember that you need to always stay calm during the exam. Don’t think about what happens after the whole thing is done but just stay in the moment. When you have a positive mindset, it improves your overall well-being. It also contributes to better concentration and decision-making during important moments.
Summing Up
If you want to perform well in the IFSCA Grade A exam, you need to be mentally prepared to perform well. A calm demeanor, strategic exam preparation techniques and enough study material go a long way in helping you prepare for the exam. The first steps are to understand the eligibility criteria, exam pattern, and after that, you need to be clear in your understanding of the exam pattern and syllabus. The next step is to get all the study materials and online resources in your hands. Adopting these strategies will prepare you for the challenges posed by the exam and help you clear it effortlessly.
To help you prepare 50% faster for competitive exams, ixamBee provides a free Mock Test Series and all the Current Affairs in English and Current Affairs in Hindi in the BeePedia capsules for GA Preparation. You can also get the latest updates for Bank PO, Bank Clerk, SSC, RBI Grade B, NABARD, and Other Government Jobs.
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