Home Career All about SEBI Grade A Legal Officers’ exam

All about SEBI Grade A Legal Officers’ exam

November 9, 2023

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This article is written by Susanna Sharma. This article discusses all about the SEBI Law Officer Exam and delves into the details of the post, eligibility criteria, vacancies every year, reservations, Frequently asked questions (FAQs) and some tips and tricks to prepare for the exam. An effort has been made to provide exhaustive knowledge about the topic for easy reference.

It has been published by Rachity Garg.

Table of Contents

Introduction

If you are a law student or a working professional in the field of law dreaming of becoming a part of the Securities and Exchange Board of India (SEBI) as a Law Officer, you have come to the right blog. The Securities and Exchange Board of India is a regulatory body for the securities market in India. As the preamble of Securities and Exchange Board of India Act, 1992 reads, it aims at protecting the interests of the investors in the securities market and regulates and promotes the market in India. The SEBI hires eligible candidates for the post of Law Officer. It is a very respectable and enriching job with multiple perks and benefits, which makes it a very sought after job by thousands of aspirants every year. The recruitment for Law Officers is made through a three-stage selection process, which tests the candidate’s knowledge, calibre, mental strength, etc and chooses the best among the lot for this job. As a Law Officer, the job entails various responsibilities, including handling the legal issues of SEBI and working to protect the interest of the investors in the securities market.

So, let’s dive into this article and know all that you need to know about the SEBI Law Officer Exam to be prepared and to ace it.

SEBI Law Officer Exam : an overview

The SEBI Law Officer Exam is conducted by the Securities and Exchange Board of India for the post of Officer Grade A Assistant Legal Manager in SEBI. The exam is conducted in three stages-

Phase I (which is an online screening examination consisting of 2 papers, i.e. Paper I and Paper II)
Phase II (which is an online examination consisting of 2 papers)
Interview (which is conducted offline)

The vacancies for the post of SEBI Law Officer are announced, subject to availability, by the Securities and Exchange Board of India. The notification for the year 2023 was released, where a total of 25 vacancies were announced by SEBI in its official website for the post of Law Officer in SEBI.

Tabular representation of SEBI Law Officer Exam

Conducting Body	Securities and Exchange Board of India
Eligibility	Citizen of IndiaBachelor’s Degree in Law
Stages of Exam	– Phase I – Phase II – Interview
Age limit	– No lower age limit – Upper age limit of 30
Relaxation in Age	– Schedule Caste- 5 years – Scheduled Tribe- 5 years – Other Backward Class- 3 years – Persons with benchmark Disability- 10 years – Ex-servicemen- 5 years
Application Fee	Rs 1000/- for all Rs 100/- for Scheduled Caste, Scheduled Tribe and Persons with Benchmark Disabilities.
Vacancies	Notified every year in the official notification
Where to apply	Click here
Official website	www.sebi.gov.in

Designation and pay scale of SEBI Law Officer

To be a Law officer of SEBI is a dream shared by many, and rightfully so, so it has many perks and benefits to offer along with a fulfilling and enriching work profile. Let us have a look into the details of the post of a SEBI Law Officer.

Designation

Candidates who clear all three stages of the selection process of SEBI Law officer exam are selected for the highly esteemed Grade A Assistant Manager- Legal Stream Post. As a SEBI Law Officer, one has to perform the following duties among many others-

Handle the legal issues of SEBI
Drafting legal documents
Handle policy related documents
Carrying out inspections of different stock exchanges
Involvement in the approval of the by-laws of SEBI, etc.

Grade A Law Officer of SEBI will have to perform diverse roles to facilitate and improve the securities market in India as mentioned above. It is an entry level assistant manager position and just the beginning of your career trajectory, the career path of an SEBI Law officer by way of promotion is mentioned here.

Pay Scale and Allowances

One of the biggest advantages of the post of a SEBI Law Officer is the pay scale and allowances offered to the Officers.

The basic pay scale for a SEBI law officer starts from Rs. 44,500 with four annual increments of Rs 2500 each. Thereafter, the basic pay will increase to Rs. 54,500 around the 6th year of service with several annual increments of Rs 2850 each, followed by further increments and rise in basic pay up to Rs. 89,150. This way the basic pay rises.

Along with the basic minimum pay, SEBI Law officers are also entitled to various allowances. So, the monthly salary for a Law officer in SEBI is approximately Rs. 1,49,500/- without availing the accommodation provided by SEBI. Those candidates who avail the accommodation, the monthly salary would be approximately Rs. 1,11,000/-.

This salary is inclusive of the following kinds of allowances-

Contribution towards the National Pension Scheme or NPS
Grade allowance
Special Allowance
Dearness Allowance
Family Allowance
Local Allowance
Learning allowance
Special grade Allowance
Special Compensatory allowance, etc.

Some other benefits provided to a law officer in SEBI are-

Medical expenses
Leave Fare Concession
Education Allowance, for those who wish to take on additional courses and study
Eye refraction
Financial dailies
Book grant
A briefcase
Expenses of conveyance
Allowance for house cleaning
Staff furnishing scheme
Scheme to purchase computers
Lunch facility at a subsidised rate, etc.

Promotion

SEBI Law officers who are recruited as Grade A officers have a great opportunity of rising through the ranks by promotion. As the officers are promoted, their grades gradually increase in the following manner:

Grade A- Assistant Manager
Grade B – Manager
Grade C -Assistant General Manager
Grade D- Deputy General Manager
Grade E – General Manager
Grade F- Chief General Manager
Executive Director
The Chairman

The ladder for promotion is long, and SEBI Law officers have tremendous opportunities for learning and growth. These promotions are given through a promotion test and are as per the internal policies of SEBI. With each promotion, officers are entitled to more benefits and a variety of great work.

Eligibility Criteria for SEBI Law Officer exam

The Securities and Exchange Board of India notifies the vacancies for the post of SEBI Law officer and announces the required eligibility criteria, only those candidates who fulfil the eligibility criteria can fill the form and appear for the exam. Thus, it is important to carefully look into the required eligibility criteria.

Required Qualifications

The candidate must be an Indian Citizen.
The candidate must have completed a Bachelor’s degree in Law from any recognized University or an institute, it can either be a 5 years integrated law course or a 3-year law course.
The candidate must not be more than 30 years old at the time of filling the examination form.

Desirable Qualification

Apart from the mandatorily required qualification to apply, the candidates may also possess this desirable work experience. An advocate with two years of post-qualification experience will be a desired candidate for this esteemed post. This work experience can be gathered either by working as an associate under an advocate , or as an associate of any law firm, too.

Age Limit for SEBI Law officer Exam

The Securities and Exchange Board of India has prescribed an upper age limit for candidates to apply for the post of SEBI Law officer. As per the notification of 2023, the candidate must not have exceeded 30 years of age at the time of filling out the form for the exam.

There is no lower age limit to apply for this post, which gives the opportunity to young freshers to apply, despite their age.

Age relaxations

Along with the prescribed upper age limit of 30 years for the candidates to apply for the post of Law Officer of SEBI, the Securities and Exchange Board of India has provided relaxations with respect to age for certain categories of candidates. So, if you belong to any of these below-mentioned categories, you are entitled to some relaxations in the upper age limit-

Candidates belonging to the Scheduled Caste (SC) are entitled to a maximum relaxation in the upper age limit up to 5 years, this means that they can apply for the post up to the age of 35 years. (30+5=35 years of age).

However, it is important to note that this relaxation is applicable only if there are posts reserved for the scheduled caste in the official notification of recruitment. If no separate reservation is made for persons belonging to the Scheduled caste, they are not entitled to this upper-age relaxation.

Candidates belonging to the Scheduled Tribe (ST) are also entitled to a maximum relaxation in the upper age limit of upto 5 years, which means they can also apply for the post up to the age of 35 years. (30+5=35 years of age).

Similarly, it is important to note that this relaxation is applicable only if there are posts reserved for the scheduled tribe in the official notification. So, if no reservation is made for persons of scheduled tribe, they are not entitled to this age relaxation.

Candidates belonging to Other Backward Classes ‘Non Creamy Layer’ (OBC) are entitled to a maximum relaxation in upper age up to 3 years, which means they can apply for the exam up to the age of 33 years. (30+3=33 years of age).

It is also important to note that this age relaxation will only be applicable if there are posts reserved for the candidates belonging to the OBC category in the official notification for recruitment.

Persons with Benchmark Disabilities (PwBD) are entitled to relaxation for up to 10 years, which means they can apply for the exam up to the age of 40 years. (30+10=40 years of age).

Please note: The age relaxation for PwBD candidates is applicable even if there are no reservations for candidates who are Persons with benchmark disabilities.

Persons with Benchmark disabilities who also belong to the Scheduled Tribe and Scheduled Caste are also entitled to the relaxation provided to ST Candidates, i.e. 30+10+5= 45 years if there are seats reserved for Scheduled Tribe or Scheduled Caste, as the case may be.

Similarly, Persons with Benchmark disabilities who belong to the other backward classes (OBC) are also entitled to the relaxation provided to OBCs, i.e. 30+10+3=43 years, if there are seats reserved for OBCs.

Candidates who are ex-servicemen are entitled to relaxation in the upper age limit of up to 5 years, which means they can fill the form up to the age of 35 years. (30+5=35 Years of age). The persons who are included in the category of ex-servicemen is mentioned here.

Number of attempts for SEBI Law Officer Exam

The Securities and Exchange Board of India has not prescribed any limits to the number of times a candidate can apply for the examination. So, all candidates can attempt the exam numerous times.

However, it must be noted that although there is no limitation on the number of attempts, the candidates must still be within the prescribed upper age limit mentioned here.

Vacancies for the post of SEBI Law Officer

The Securities and Exchange Board of India, announces the vacancies for the post of SEBI Law Officer Exam every year through the official recruitment notification. The notification of 2023 announced a total of 25 vacancies for this post. This number varies every year as per the existing vacancies.

Category-Wise Reservations in the SEBI Law Officer Exam

The Securities and Exchange Board of India reserves several posts for various categories of candidates. There are vertical reservations as well as horizontal reservations.

The categories of vertical reservations are-

Unreserved (UR)
Scheduled Caste (SC)
Scheduled Tribe (ST)
Other Backward Classes (OBC)
Economically Weaker Section (EWS)

Horizontal reservation is provided to candidates who are Persons with Benchmark disabilities.

As per the notification of SEBI, the number of reservations for each category over the years is as follows:

Categories of Vertical Reservation for SEBI Law Officer	Number of vacancies in 2023	Number of vacancies in 2022	Number of vacancies in 2020	Number of vacancies in 2018	Number of vacancies in 2017
Unreserved	11	11	12	12	6
Other backward classes	7	2	8	4	0
Scheduled Caste	3	1	4	2	1
Scheduled Tribe	2	1	2	0	0
Economically Weaker Section	2	1	2	0	0

Categories of Horizontal Reservation for SEBI Law Officer	Number of vacancies in 2023	Number of vacancies in 2022	Number of vacancies in 2020	Number of vacancies in 2018	Number of vacancies in 2017
Persons with Benchmark Disabilities	2 (1 for low vision and blindness, and 1 for Intellectual disability/autism/mental illness/specific learning disability or multiple disabilities mentioned herein).	2(1 for persons with autism/ Intellectual disability/specific learning disability/ mental illness or multiple disabilities mentioned herein, and 1 for persons with blindness and Low vision).	1(1 for persons with blindness and Low vision).	1(1 for persons with blindness and Low vision).	1(1 for persons who are visually impaired).

Details of reservations in the SEBI Law officer exam

Reservation for Other Backward Classes (OBC)

The SEBI Law officer post has reservations for persons belonging to the other backward classes, however, there are a few noteworthy things to remember:

The candidate must belong to the ‘Non creamy layer’ of Other Backward Classes.
Those candidates who belong to the Creamy layer or the Other Backward classes are not entitled to the reservation.
Creamy layer of OBC candidates must fill out the examination form as the General-Unreserved Category.
Candidates who fill out the form under the OBC category must present the OBC certificate at the time of the interview. Any delay or excuse for non-presentation of the OBC certificate is not entertained by the Securities and Exchange Board of India, and they will not be allowed to sit for the interview round.

Reservation for the Economically Weaker Section (EWS)

Separate vertical reservation has been made for persons who belong to the economically weaker section by SEBI in the SEBI Law Officer Exam. There are a few noteworthy things to remember for candidates applying under this category:

Candidates applying under the EWS category must produce the Income and Asset Certificate issued by the competent authority for the gross annual income of that financial year.
The Income and Asset Certificate is to be produced at the time of the interview, failure to produce the same shall result in denial from sitting for the interview.
Any delay or excuse for non-presentation of the Income and Asset certificate will not be entertained by the Securities and Exchange Board of India.

Reservation for Persons with Benchmark Disability

Persons with benchmark disabilities are provided horizontal reservation for the Post of SEBI Law Officer exam. A few noteworthy things with regard to reservation for PwBD are-

The candidates who are persons with benchmark disabilities may belong to any one of the categories from Scheduled Caste, Scheduled Tribe, Other Backward Classes, Economically Weaker Section or unreserved category.
Only the following kinds of benchmark disabilities are considered for the post of SEBI Law Officer post, keeping in mind the physical and functional requirements of the job: –

Blindness and Low Vision
Deaf and Hard of Hearing
Locomotor disabilities in one arm or one leg, which include Cerebral Palsy, Cured leprosy, Acid attack victims, muscular dystrophy and Dwarfism
Autism, specific learning disability, intellectual disability and mental illness
Multiple disabilities of the above-mentioned nature.

These specific categories of disabilities have been included to make sure that the officer is capable of carrying out the functional characteristics in the daily job.
Candidates claiming reservation under the category of persons with benchmark disabilities must produce the latest disability certificate. This certificate must be issued by the competent authority as per the Rights of Persons with Disabilities Act 2016.
All disability certificates presented by candidates are subject to verification or re verification by the Securities and Exchange Board of India.

Stages of the SEBI Law Officer exam

The SEBI Law Officer exam is conducted in three stages. They are-

Phase I
Phase II
Interview

Phase I- Screening Examination

The very first stage of the SEBI Law officer exam is Phase I. This phase is conducted through an online examination and is held for the purpose of screening the candidates for the second stage.

Phase I consists of two (2) papers, namely

Paper 1 for 100 marks
Paper 2 for 100 marks

Both Paper 1 and Paper 2 consist of Multiple Choice questions (MCQs). The candidates will have to choose from any of the given choices, and they will be marked accordingly. Both the papers are held on the same day. After successfully completing Paper I, the online system automatically leads the students to the second part of the exam, which is Paper 2.

Syllabus for the Phase I of the SEBI Law Officer Exam

As already pointed out, the Phase I exam consists of 2 papers. Let us have a look at the syllabus of both the papers carefully.

The syllabus for Paper 1 of Phase I consists of the following topics:

The syllabus for Paper 2 of Phase I consists of the following subjects of Law:

Question Pattern of Phase I exam

The Phase I of the SEBI Law Officer Exam is held for 200 marks in total, where Paper 1 is held for 100 marks and Paper 2 is held for 100 marks. The questions are multiple-choice questions (MCQs).

The exam is conducted for a duration of 1 hour 40 minutes, where 1 hour is dedicated to solving Paper 1 and 40 minutes are dedicated to Paper 2. There is a negative marking for every wrong answer given in the exam, where 1/4th of the marks for each question is deducted for the wrong answer.

Cut-off marks for Phase I of SEBI Law Officer Exam

It is very important to note that, in order to qualify the Phase I of the SEBI Law officer exam, the candidates must secure the minimum cut-off marks separately for each of the Papers, Paper 1 and Paper 2, as well as the aggregate cut off marks.

The cut-off percentage for Paper 1 of Phase I is 30%
The cut-off percentage for Paper 2 of Phase I is 40%
The aggregate cut-off percentage to qualify Phase I of the SEBI Law officer exam is 40% overall.

It must be noted that the marks obtained in Phase I of the exam are only qualifying in nature, which means they are only counted to qualify for Phase II and are not included in the final counting for the selection of candidates.

Tips and tricks for preliminary examination

If you are looking for some tips and tricks on how to prepare and write the Phase I preliminary exam of SEBI Law Officer Exam, I am here to help you out with some important tips:

General Knowledge and Current Affairs

Being up-to-date with the current affairs and general knowledge is very important to answer the questions in Paper 1 of Phase I. The questions are based on the recent events happening around us everyday. A candidate can go through the last six month’s news. For example, in the SEBI Law Officer Exam 2023, few questions were based on the Chandrayaan-3 project of ISRO, revised GST rates on online gambling. Thus, it is important to read the news on a daily basis and make a note of important affairs.

Latest updates relating to the financial sector

A major part of the Paper 1 of Phase I is based on news and updates relating to the financial sector, and the increasing trends in them. Any and all noteworthy financial developments, schemes, advancements, projects, etc. must be noted duly including the steps taken by the government. A candidate can go through SEBI’s and RBI’s recent updates.

Practising test of Reasoning and Quantitative Aptitude

The reasoning test is also a very important aspect of the SEBI Law officer exam. Candidates must be able to solve questions on reasoning and quantitative aptitude within the prescribed time limit, which can be quite confusing and overwhelming. Thus, one must practise reasoning tests as many times as they can. It is truly said that practice makes perfect, and those who practice regularly will be able to solve these questions, efficiently

Time Management

The total time given for Phase I of the SEBI Law Officer exam is 1 hour 40 minutes, while it may seem to be a long time to solve 130 Multiple Choice Questions, it will certainly not be enough if the candidate does not manage the time well. One must carefully plan and dedicate their time to each of the sections. Please remember that the questions on reasoning and aptitude are lengthy and require more time, so quick responses may be needed in questions relating to general knowledge.

Read the bare acts

It is always advised to read the bare acts carefully for writing the Phase I of the SEBI Law Officer exam. The questions are mainly based on the bare acts and illustrations. A good understanding of the bare acts will help the candidates to answer the questions efficiently in Paper 2 of Phase I. Paper 2 is much more scoring and candidates with good knowledge of the bare acts and laws will have an upper hand. So, keep your concepts clear and continuously read the bare acts.

Make notes

It is simply not enough to read and memorise the important parts of the exam, it is always advised to make comprehensive notes for your own convenience. These notes will help the candidates during quick revision at the peak hour.

Mock tests

Candidates must attempt as many online mock tests as possible before the SEBI Law Officer Exam. This will help them to identify the lacking areas as well as help them to efficiently understand time management. Consider these mocks as actual exams and appear for them. This will prepare you for the main exam day. Not a single mock test is a waste of time, each mock will help you for the exam.

Phase II – examination

After successfully qualifying the Phase I of the SEBI Law Officer Exam, the candidates then have to sit for the second stage, which is Phase II of the examination. The Phase II examination is also an online examination, and it consists of 2 papers, they are-

Paper 1 for 100 marks
Paper 2 for 100 marks

The Phase II examination is conducted for a total of 200 marks. It consists of both descriptive and multiple-choice questions.

Syllabus for the Phase II Examination

`As pointed out above, the Phase II of SEBI Law Officer exam also consists of two papers, let us have a look at the syllabus of both the papers-

Paper 1 (Phase-II)

The syllabus for Paper 1 of Phase II consists of an English Descriptive test only. Candidates must focus on the following elements among others for the English descriptive test: –

Precis writing
Comprehension, and
Essay writing

The question paper is designed to test the candidates on their writing and drafting skills. Candidates are expected to read the questions, understand them and accordingly express themselves in their answers.

Paper 2 (Phase-II)

The syllabus for Paper 2 of the Phase II exam consists of the following subjects of law:-

Question Pattern of Phase II- examination

The Phase II examination is conducted for 200 marks, and consists of 2 papers for 100 marks each.

Paper 1 of Phase II– The questions are descriptive in nature and candidates have to type the answers in the computer with the help of the keyboard. All examinations are held online on the computer. The exam is held for 100 marks and the duration of the exam is 60 minutes, i.e. 1 hour. There are no negative markings for Paper 1 of the Phase II examination.

Paper 2 of Phase II- Paper 2 of Phase II, consists of both descriptive as well as Multiple choice questions for 100 marks.

There are 3 descriptive type questions of 10 marks each
There are 70 multiple choice questions of 1 mark each on the syllabus mentioned above. There will also be negative markings for every wrong answer. 0.25 marks shall be deducted for every wrong answer in the Multiple Choice questions in Paper 2 of Phase II exam.

The duration of the exam is 3 hours or 180 minutes, where 1 hour is dedicated to Paper 1 and the other two hours are dedicated to Paper 2 of the Phase II of the exam.

Cut-off marks for Phase II of SEBI Law Officer Exam

The candidates must secure a minimum cut-off in both Paper 1 and Paper 2 of the Phase II examination. Along with the separate cut-offs for each paper, the candidates must also secure the aggregate cut-off to qualify the Phase II.

The cut-off percentage for Paper 1 of Phase II is 30%
The cut-off percentage for Paper 2 of Phase II is 40%
The aggregate cut-off required to qualify for Phase II is 50%

Only those candidates with the required cut-off are selected for the third round of the selection process.

Tips and Tricks for Phase II Examination

Here are some tips and tricks to help you prepare for Phase II of the SEBI Law Officer Exam:

Practise English Grammar

Paper 1 of Phase II is completely dedicated to English and writing skills. It is very important to have a good understanding of the English language and the ability to articulate and write well written answers. Candidates must practise their writing skills on a regular basis. Read different kinds of books to increase your vocabulary. It is important to write stellar, structured and well-constructed answers.

Go through the syllabus

While the number of subjects might seem overwhelming to the aspirants, it is important to note that not everything in the book is important for the exam and candidates must study smartly. SEBI has exclusively demarcated the parts of each subject which are necessary for the exam. Thus, aspirants must read the syllabus carefully and study accordingly.

Understanding of Bare Acts

Paper 2 of Phase II examination consists of both descriptive as well as MCQs on various Acts and Rules. Thus, it is important to have a proper understanding of the Bare Acts. Read the Acts properly and make proper notes of all the subjects for quick revision for exam time.

Make Notes

Paper 2 of Phase II exam also consists of descriptive questions, and the candidates are expected to write three descriptive answers on any of the law subjects mentioned in the syllabus, thus it is important to make extensive notes of questions for answer writing. These notes will come in handy for quick revision before the examination.

Take mock tests

The paper also consists of 70 MCQs on law subjects mentioned in the syllabus, thus it is important to take as many mock tests as possible. This will help the candidates to learn time management, and practise before the main exam. This will also help the candidates to identify parts of subjects which need revision and more preparation.

Manage your time efficiently

This point cannot be stressed enough for all the candidates appearing for the SEBI Law Officer exam. While 2 hours for paper 2 might seem like a long time, it might not be enough if we do not plan our answer strategy carefully. Dedicate your time to the descriptive questions very carefully so that you can write fast and well within the given time period. Practise your typing skills on a regular basis.

Give your best

Candidates must note that during the final selection, due weightage is given to both Phase II and the interview. More so, 85% of the weightage is given to the marks obtained in the Phase II examination for the final selection. So, the candidates must perform and give their best. Candidates who manage to score higher in the Phase II have more chances of selection. Once the Phase II examination is cleared with good scores, one can expect to give the best interview and get the job of your dreams.

Phase III- interview stage

The third and final stage of selection for the post of the SEBI Law Officer is the Interview Stage. Only those candidates who successfully clear Phase II can appear for the interview.

The interview can be conducted in either English or Hindi, the candidates can choose their preferred language for the interview themselves. The interview stage is specifically designed to have a one-on-one interaction with the candidates and test their personality and the ability to present themselves and answer confidently.

Syllabus for the Interview

There is no specific syllabus for the interview stage. The panel of interviewers may choose to ask the candidates any and everything from current affairs, and laws to financial news. Thus, it is advised to be up-to-date with current affairs and be ready to answer conceptual questions with respect to laws and securities markets.

Qualifying marks for Interview stage

The interview for SEBI Law Officer Exam is conducted for 15 marks, out of which-

13.5 marks are dedicated towards the interview with the panel, and
1.5 marks are dedicated to the relevant post-qualification experience of the candidate.

Candidates must perform well in the interview stage to maximise their chances of qualifying for the exam. No qualifying marks have been prescribed for the interview, it ultimately depends on the overall performance of the candidate.

Tips and Tricks for the Interview

While the types of questions that can be asked in the interview are vast, here are some tips and tricks to help you:

Dress for the Occasion

One of the first things the interviewing panel will notice about you is the way you are dressed. Dress appropriately and smartly for the interview, and look professional and serious for the job.

Be Confident

Candidates must be confident while answering the questions in the interview, while this may seem like a normal tip given by everyone, it is very important. It will set the environment for your interview. Answers given in confidence attract the interviewer’s attention and help the interviewee to score a good mark.

Be up-to-date with current affairs

The candidates appearing for the interview must be well-read and informed of the current affairs happening around them. Questions may be asked to check how aware a candidate is regarding their day to day environment and important affairs.

Have a good understanding of the Securities Markets

Since the job profile of a law officer in SEBI is to deal with the securities market mainly, it is expected from the candidates that they have a good understanding of the securities market and the field they have to work in. Questions around the securities market, stocks, and regulations may be asked which will require the candidates to be aware of the intricacies of the securities market.

Listen to the questions

The candidates must listen to the questions carefully during the interview and answer carefully. Answer only after completely understanding the question, and politely ask them to repeat if you fail to understand or hear something properly. Disinterest in listening to the questions will leave a bad impression in front of the interviewing panel.

Do not bluff

It may not be possible to know the answers to all the questions asked during the interview, in such a scenario, candidates must not bluff and give irrelevant or made-up answers. The panel of interviewers is learned and have extensive knowledge of the field on which they question the candidates. Bluffing might put the candidates in an awkward position and leave a bad impression. Politely pardon yourself if you are unaware of an answer and mention that you will surely look it up later.

Mock interviews

Practising for the interviews is a great way to boost your confidence and prepare. Conduct mock interviews with friends, and families or in front of the mirror to practise your answers for your introduction and basic questions.

Final selection of the candidates

For the final selection of the candidates, due weightage is given only to the marks obtained in Phase II and Interview. The Phase II examination is given 85% weightage and the interview round is given 15% weightage.

Thus, it is very important for the candidates to perform exceptionally in both of the rounds.

Probationary Period of SEBI Law Officers

Candidates who successfully qualify all three stages of the examination are selected for the post of SEBI Law Officer. They must complete a two-year Probationary period for confirmation in the services.

The overall performance of the candidates during the probationary period is evaluated for determining whether or not a candidate is fit for the post, and the candidate shall be confirmed for the post after the successful completion of the said 2 years period.

Application process for SEBI Law Officer Exam

The application process for the SEBI Law Officer exam begins with the official notification of recruitment, which is published in the official website of SEBI. The application princess is completely online, and no offline forms are allowed.

To start the application process, the candidates need to register themselves in the official website for which the candidates must have-

A valid email ID; and
An active mobile number

Documents required to fill out the online application form for SEBI Law Officer Exam

Here are a list of documents that the candidates must keep ready for ease in filling the application form-

A recent Passport size colour photograph
Scanned copy of the signature of the candidate
Class 10 board exam results
Class 12 board exam results
Marksheet of the Bachelor’s Degree in Law
Marksheet of Post graduation, if any
Scanned copy of the left thumb impression of the candidate
Scanned copy of the OBC certificate as per format, if applicable
Scanned copy of the Scheduled Caste certificate as per format, if applicable
Scanned copy of the Scheduled Tribe certificate as per format, if applicable
Scanned copy of the Certificate of Disability as per format, if applicable
A handwriting declaration as stated by the Securities and the Exchange Board of India in the recruitment notification.

Steps to fill out the online application form for SEBI Law Officer Exam

Candidates can follow these steps to fill out the application form for SEBI Law Officer Exam:

Step 1: Register yourself

The first step is to register yourself as a new user to fill the application form. Visit the career link of SEBI website and click on “Click here for new registration”. Candidates need to register with their email ID and phone number.

After successfully registering themselves, the candidates will be provided with the provisional registration number and its password in both email ID and SMS in the mobile number. Candidates can also note it down for future reference to log into their account and complete the application process.

Step 2: Fill the Application form

Candidates can start filling their details in the application form, beginning with name, address, father’s/mother’s/guardian’s name, date of birth, and other required details.

Candidates are advised to save the details after they are entered on the website through the “Save and Next” button. This will save the application form and candidates can resume the application process from the step they paused in, instead of starting over. Be careful with the spellings entered in the Application form.

Candidates belonging to the reserved category must ensure to select for reservation in the application form itself, if they fail to mention and select it in the application form, they will not be entitled to the reservation later.

Step 3: Uploading documents

Photograph

The passport-size photograph of the candidate must be a recent one.
It must be clear with no shadows and a clear background, it would be better to have a white background for the photo.
Candidates who wear glasses must ensure that there are no reflections on the glasses.
Do not wear caps, hats, or shades while clicking the picture. Candidates who wear religious headbands can click the picture with the religious headband, however, it must not cover the face.
The picture dimension must be between 200 x 230 pixels.
The picture must be scanned properly and while scanning set the colour to true colour only, and save in a jpg/jpeg format.
The size of the scanned photo document should be between 20kb – 50 kb. Documents above 50 KB cannot be uploaded.
Upload the Photograph.

Signature

The candidates must sign on a white sheet of paper with a black ink pen only.
The signature must NOT be in BLOCK or CAPITAL letters.
The signature uploaded while filling out the form must match with the signature of the candidate during the examination in the centre.
The signature page must be scanned properly in true colour.
The size of the document should be between 10kb-20 kb only.
Candidates must be mindful to upload the documents in their designated slots only. Mistakes in uploading the signature will result in the cancellation of the candidate from taking the exam.
Upload the signature.

Thumb impression

The candidates must ensure that the thumb impression is of the left hand only.
Candidates who do not have a left thumb can give the impression of their right thumb.
The thumb impression must be done on a white sheet of paper with either blue ink or black ink.
The thumb impression must be scanned properly in true colour.
It must be saved in a jpg/jpeg format only.
The size of the file should be between 20kb-50 kb only.
Upload the thumb impression.

Handwriting declaration

Candidates are also required to submit a handwritten declaration while filling out the form.
The contents of the declaration are provided by the SEBI in the official notification.
The declaration must be written in English with a black pen on white paper.
Scan the declaration in true colour.
Save the same in either jpg or jpeg format.
The size of the file should be between 50kb – 100 kb.
Upload the declaration in the required slot.

Please Note: Candidates are advised to scan and upload the documents clearly without any mistakes, as unclear photos or documents can lead to the rejection of the application by the SEBI.

After filling out the entire application form and making payment, the candidates are advised to download their forms for future reference.

Fees for the SEBI Law Officer Exam

After filling in the details and uploading the required documents, candidates are then asked to proceed towards paying the application fee.

The application fee for the SEBI Law officer exam is:

Category	Fees to be paid
Unreserved	Rs 1000/- only (One Thousand) along with 18% GST
Other Backward Classes (OBC)	Rs 1000/- only (One Thousand) along with 18% GST
Economically Weaker Section (EWS)	Rs 1000/- only (One Thousand) along with 18% GST
Scheduled Caste (SC)	Rs 100/- only (One hundred) along with 18% GST
Scheduled Tribe (ST)	Rs 100/- only (One hundred) along with 18% GST
Persons with Benchmark Disability (PwBD)	Rs 100/- only (One hundred) along with 18% GST

How to make the fee-payment for SEBI Law Officer Exam

The payment for the application form must be done online only. No offline payment is accepted by SEBI.

Here are the steps to successfully make the payment for the application form:

After uploading the requisite documents and carefully rechecking the uploaded information, the candidate can proceed towards the payment.
Candidates must click on the PAYMENT option.
The modes of payment accepted are-

Credit Card
Debit Card ( Visa/Master Card/Maestro/Rupay)
Internet Banking
IMPS
Cash cards or Mobile wallets

Pay the required amount through the payment mode.
Download the e-receipt of payment.

How to prepare for the SEBI Law Officer Exam

Every year thousands of candidates await the official notification for recruitment to the post of SEBI Law Officer. Thousands dream of it and few among those who persevere and work towards it finally achieve it. The candidates have to work hard, smart and regularly to prepare for this exam.

Here are some pointers to help you prepare for the exam:

Clear your concepts regarding the securities market

As a SEBI Law officer, candidates are expected to work and deal with the intricacies of the capital market, thus having a basic understanding and clarity of the securities market and its working will be very helpful in the overall preparation. It will prepare the candidates for reading the securities law and answering questions related to it.

Work smartly

As shown in the syllabus for the exam, not everything from the bare acts are important for the exam, definite parts from various acts have been mentioned which are important. The aspirants must plan accordingly and start their preparation. Choose the areas which are difficult and start studying.

Make a study plan

It is very important to make a rigid study plan and follow it. Often candidates tend to let go of their preparation schedule and it severely hampers their overall preparation. Remember there are thousands of more candidates preparing for the same job, and you must prepare harder.

Refer to past year question papers

It is advised to have a look at the past year question papers for your preparation, it will give the candidates an idea of how the questions are formed. This will make the questioning pattern familiar to the students, and solving them will also act as mock tests.

Read about the Securities and Exchange Board of India

Candidates must read about the securities and Exchange Board of India and acquaint themselves with its working, functions, and regulations. This will give the candidates a fair idea about the work and may also be able to answer questions regarding SEBI in the interview round.

Refer bare-acts as well as books for various subjects

For the purpose of preparation for the exam, the candidates must refer to the bare act thoroughly. Bare acts are a major part for the MCQs. Along with the bare acts, candidates must also refer to various books from different authors for conceptual clarity if needed. This will also help in writing descriptive answers for Phase II of the exam.

Choose your method of preparation

It is important to choose a method of preparation for the exam. Some students may choose to self-study, while some may choose to take up a course for the same. It completely depends upon the students and their plan. Aspirants looking for a course to guide them can check out this course from Lawsikho to help them in their preparation in an organised manner.

How to check results of the SEBI Law Officer Exam

After every phase of the exam, the Securities and Exchange Board of India publishes the list of selected candidates. The list is published on the official website of SEBI, in the RESULTS section and the notification of publication of the result is made available.

After the completion of Phase I and Phase II, the list of selected candidates is released on the website
The roll numbers of the selected candidates are published, and candidates can refer the same to check the status of their selection
After the publication of the list of candidates, SEBI also releases the Marks obtained by the Candidates.
All the Candidates can check their marks through the link provided on the website.
In order to check their marks, candidates must enter the following details:

Roll Number
Registration Number
Date of Birth

Here is an image of the results tab from the SEBI website on how to check your result-

This image shows how to check the marks obtained by candidates in the Phase I exam of 2023.

Books to refer for SEBI Law Officer Exam

Books to refer for Phase I- Preliminary Examination

Candidates can refer to these books for their preparation of Phase I- Preliminary SEBI Law Officer Exam-

PAPER 1

PAPER 2

Books to refer for Phase-II Written Examination

Here is a lists of few books that are helpful for conceptual clarity for descriptive answers for Phase II of the SEBI Law officer examination:

PAPER 1

The syllabus for Paper 1 of the Phase II examination consists of an English descriptive test only. So, here is a list of a few books which will help candidates to improve their grammar and writing skills for the examination:

NAME OF THE BOOK	AUTHOR/PUBLICATION
High School English Grammar & Composition Wren & Martin	N.D.V Prasada Rao
Descriptive Book- English with Nimsha Bansal	Nimsha Bansal
Word Power Made Easy	Norman Lewis

PAPER 2

Books to refer for Interview round

Preparation for the interview round, requires extensive knowledge of the current legal as well as financial affairs of the nation and the World. Here are some references to help you prepare for the interview round:

BOOK	Author
Daily newspapers	The Hindu
Interview guide-RBI, SEBI & NABARD	Anuj Jindal

Other than these, good revision of bare acts and concepts of Securities market will be very helpful for the candidates.

Important pointers for the SEBI Law Officer Exam

SEBI Law Officer Exam is a highly competitive and sought after exam by thousands of candidates every year, so it is very important for them to prepare well. Make a study plan and strictly follow it.
Have a good understanding of the securities market. It is very important to understand the field that you will be working in, the basics of the securities market must be clear so that the candidates can find the topic and the work interesting.
Follow the past year question papers and take up as many mocks as possible to increase your chances of selection for the post. This will give a fair idea as to the pattern of the exam.

Always fill the form prior to the last date, do not wait for the last date. Many times some technical or server error might occur and candidates may miss out filling the form, for which SEBI shall not be responsible. So, fill the forms at the earliest date possible.
Always reach the exam centre well before time. It is always better to reach early than be late and miss out on the exam.
Candidates must always carry their valid ID proof to the examination centre, the name in the ID proof should be an exact match of the name mentioned in the admit card.
Stay calm and study for the exam. Give your best and do not be nervous.

Words of motivation!

Being a SEBI Law Officer is a dream which is shared by thousands of aspirants in India, if you are one of them, this is your cue to prepare well, work hard and be smart. Remember that it is just an exam and it is not impossible. Many have cleared before you and many will after, it is now your turn to crack it. With the right preparation and mindset, you can surely achieve it.

Wish you all the very best.

Frequently asked questions (FAQs) on SEBI Law Officer Exam

Preliminary Phase I Examination of SEBI Law Officer Exam

What are the total marks of the Phase I SEBI Law Officer Exam?

The Phase I of the SEBI Law officer exam is conducted for 200 marks and is divided into two papers. Each paper is out of 100 marks and the candidates must sit for both the papers on the same day.

What is the time duration of Phase I of SEBI Law Officer Exam?

Phase I of the SEBI Law officer exam is held for 1 hour and 40 minutes, where 1 hour is for Paper 1 and 40 minutes is dedicated to Paper 2. Both the papers are held together, and the paper is submitted automatically after the time runs out.

What is the cut-off for Phase I of SEBI Law Officer Exam?

Separate cut-offs are mentioned for Paper 1 and Paper 2 of Phase I. The cut-off for Paper 1 is 30% and cut off for Paper 2 is 40%. Along with paper wise cut-offs, candidates also need to secure the minimum aggregate cut off of 40% altogether inclusive of both the papers to qualify for the exam.

Is there negative marking for Phase I of the SEBI Law Officer Exam?

There is negative marking for every wrong answer in the exam. According to the notification, 1/4th marks is deducted for every wrong answer. Thus, candidates must be mindful not to bluff and give wrong answers.

Will the marks of Phase I be counted for final selection?

No, the marks of Phase I are only qualifying in nature. It is a screening test to lower the number of students, so the marks obtained in Phase I are not counted for the final selection. However, it is important for the candidates to perform well to be selected further.

What is the required time for preparation of Phase I of SEBI Law Officer Exam?

It is always advised to start early and keep up the preparation for the exam. For candidates who are still studying, 5th year of the Law college would be a great time to seriously prepare for the exam. For aspirants who are already working as professionals, decide your goal and prepare accordingly.

How many mock tests should I attempt to clear the SEBI Law Officer Exam?

Candidates must appear for as many mock tests as possible. No mock test will go to waste as it will increase your knowledge, give you confidence and make you acquainted with the process of examination. Candidates can check out excellent mocks tests from Lawsikho here.

Phase II Examination of SEBI Law Officer Exam

What is the time duration of Phase II Exam of SEBI Law Officer Exam?

Phase II is held for 3 hours or 180 minutes. Paper 1 is held for 1 hour and Paper 2 is held for a total of 2 hours. The candidates must be mindful and utilise the time properly.

How to write the descriptive answers for Paper 1 of Phase II?

The syllabus for Paper 1 of Phase II consists of English descriptive questions only. Candidates are tested on their drafting skills, so they must-

Write well articulated, structured and grammatically correct answers.
Read different kinds of books to learn new words and frame good sentences.
Read all the questions and comprehensions properly
Type your answers quickly to complete your exam on time.

Is the SEBI Law Officer Exam only held in English?

Candidates appearing for the examination have a choice of language between English and Hindi. Candidates can choose either of the two. In case of descriptive answers, candidates can type their answers in Hindi, and they can type with the help of INSCRIPT and Remington (GAIL) keyboards layout as well.

However it must be noted that Paper 1 of Phase II which consists of an English Descriptive test will only be held in English and not Hindi.

Is there negative marking in Phase II of the SEBI Law Officer Exam?

Yes, Paper 2 of Phase II of the examination has negative marking. 1/4th of the marks of every question is deducted for every wrong answer in the multiple choice questions.

However, there are no negative markings for the descriptive questions of Paper 1 and Paper 2 of Phase II.

What are the cut-off marks for qualifying Phase II of the SEBI Law Officer Exam?

Similar to Phase I, in the Phase II examination also the candidates must secure separate cut-offs for both the papers. The cut-off for Paper 1 is 30% and the cut-off for Paper 2 is 40%. Along with the paper wise cut off, the candidates must also secure the aggregate cut-off of 50% also to qualify the examination.

Interview of SEBI Law Officer Exam

Can I give the SEBI Law Officer Interview in Hindi?

Yes, candidates have the option to choose between English and Hindi language for the interview. It is not necessary to give the interview in English only. However, when a candidate chooses a particular language for an interview, they must complete it in the same language. Candidates must make sure that they are comfortable and fluent in the chosen language. Proper English or Hindi language must be used, no Hinglish is allowed during the interview.

What type of questions are asked in the interview for the SEBI Law Officer Exam?

The interviewing panel of the SEBI Law Officer Exam consists of 4 to 5 members, with each of the panellists asking different questions to the candidate. In an anonymous interview, one of the Candidates who appeared for the SEBI Law Officer Exam 2020-2021 shared their own experience and questions asked.

Some of the questions that might be asked are:

Giving a brief introduction of yourself
What are some of the functions of SEBI as the regulator of the Securities Market?
What is the nature of the orders that are passed by SEBI?
Any question on any of the recent happenings around the World, for e.g. the recent attack of Hamas against Israel.
What are non-performing assets or NPA?
Questions on the recent developments in the capital market

Since SEBI has now announced due weightage to post-qualification experience also, candidates with experience may also be asked questions on the field they are currently working in. For example, Candidates working in the Real Estate Law or Criminal Law might be asked questions about their respective fields.

So one must be well-informed about their current job and brush up your basic concepts before the interview.

Age criteria of SEBI Law Officer Exam

What is the age limit to apply for the SEBI Law Officer Exam?

There is no lower age limit to apply for the exam, however, there is an upper age limit of 30 years to apply.

This upper age limit is relaxed from 5 to 10 years, depending upon the categories of the candidates. The age relaxation has been mentioned in this article, here.

Who are Persons with Benchmark Disability eligible for age relaxation?

Only certain categories of kinds of disabilities are eligible for reservation for the SEBI Law Officer Exam, they are-

Blindness and low vision
Deaf and hard of hearing
Locomotor disability which includes Cerebral Palsy, Dwarfism, Leprosy cured, Acid attack victims and Muscular Dystrophy.
Autism, intellectual disability, specific learning disability and mental illness.
Candidates who have multiple disabilities of the above-mentioned kind.

Only those candidates who belong to the above-mentioned list are eligible for the age relaxation.

Who are ex-servicemen for the purpose of age relaxation for the post of SEBI Law Officer?

Candidates who are ex-servicemen are also given an age relaxation of 5 years for the SEBI Law Officer post. Ex-Servicemen include the following categories of candidates-

Emergency Commissioned Officers, or
Short Service Commissioned Officers

These candidates must have completed at least 5 years of military service and must have retired either by completion of service or due to some physical disability.

Those candidates who have been discharged due to misconduct are not eligible for this relaxation.

Reservation of SEBI Law Officer Exam

Who is provided reservation in the SEBI Law Officer Exam?

The following categories of candidates are provided reservation for the post of SEBI Law Officer-

Scheduled Caste (SC)
Scheduled Tribe (ST)
Other Backward Classes (OBC)
Economically Weaker Section (EWS)
Persons with Benchmark Disabilities (PwBD).

Who all are included in the category of Other Backward Classes?

Candidates must note that only those who belong to the Non- creamy layer are eligible for the reservation. Candidates who are from the creamy layer cannot apply for the reservation.

Where can I find the format for claiming a reservation?

The Securities and Exchange Board of India uploads the format for the application for the reservation on their official website. The formats of reservation for the SEBI Law Officer Exam in 2023 are provided here.

Candidates can also follow these steps to access the certificate formats-

Visit the official website of SEBI www.sebi.gov.in
Click on the career option provided at the lower right-hand side of the page.
The candidates will then be directed to the career page with all the required formats
You can download the applicable format and fill it.

General FAQs on SEBI Law Officer Exam

Are scribes provided for visually impaired candidates?

Though the Securities and Exchange Board of India does not provide the candidates with scribes, the candidates themselves have to arrange the scribe for their examination at their own cost.

Candidates must note that the scribe should not be from the legal stream. The candidate and the scribe must also give an undertaking in the format provided by SEBI along with a passport-size photograph of the Scribe.

Is it necessary to have post-qualification experience for the SEBI Law Officer Exam?

No, it is not necessary to have post qualification experience to apply for the post of SEBI Law Officer. As notified by SEBI, the 2 years post qualification requirement is only desirable, which means some advantage will be given to the candidates with experience, so candidates who have 2 years of post qualification experience in any law firm or who have worked as an advocate will also be marked additionally out of 1.5 marks in the interview round.

However, the candidates must be able to show the experience certificate during the interview.

Are SEBI Law Officers provided with accommodation?

Yes, SEBI Law Officers may be provided with accommodation in Mumbai, if the same is available. In case of non-availability, officers will have to find their own accommodation and SEBI is not responsible for the same.

Can a candidate already working in the government sector apply for the exam?

Yes, candidates who are working in the Govt. sector or quasi Govt. sector, or any Public sector bank or undertaking can apply for the examination however they must procure a No Objection Certificate (NOC) from their employer at the time of the interview.

Where should I contact in case of any query or problem in filling out the SEBI Law Officer application form?

In case the candidates face any problems while filling out the application form or making the payment, the candidates can present their queries here, https://cgrs.ibps.in/ . Candidates must mention the subject of the mail as Officer Grade A – legal Stream 20__(the applicable year).

Where are the exam centres for the SEBI Law Officer Exam?

The SEBI Law officer exam is held in various cities across India and candidates can exercise their choice of the most suitable location. The list of the exam centres can be found in the official notification released by SEBI. Candidates can choose 3 centres as per their preference. Candidates are also free to choose different centres for Phase I and Phase II.

Is the SEBI Law Officer Exam held every year?

It is seen that the SEBI Law Officer exam is conducted very frequently and almost every year, however, candidates must note that recruitment is subject to the vacancies available for the post. So in case there are no adequate vacancies, SEBI might not hold an exam for that year. However, aspirants must continue their preparation rigorously.

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