If you’re preparing for the IFSCA Grade A 2025 exam, it’s important to know what the 2024 paper looked like. This IFSCA Grade A exam analysis will give you a full breakdown of section-wise weightage, difficulty level, and what kind of questions were asked in both Phase 1 and Phase 2.
Many students found some sections tougher than expected. Others were surprised by the kind of questions that showed up. If you want to avoid those mistakes, start with this detailed IFSCA Grade A exam analysis we are about to give you.
Go through this IFSCA Grade A exam analysis carefully. It will help you plan your preparation in the right direction.
IFSCA Grade A Exam Analysis 2024: Phase 1 Paper 1
IFSCA Grade A Phase 1 Paper 1 tested candidates on basic aptitude and awareness. It had four sections: General Awareness, English Language, Quantitative Aptitude, and Reasoning Ability.
Overall, as per the IFSCA Grade A exam analysis of Phase 1 Paper 1 showed that the difficulty was moderate, but a few sections, like GA and Quant, had tricky questions. Let’s look at each section in detail to understand what came and how you should prepare for the IFSCA Grade A exam 2025.
- Answer Key
- Phase 1+2
- Detailed Explanations
- Answer Writing
Planning to appear for the upcoming exam? Check the IFSCA Grade A 2025 Notification article for important dates, vacancies, and the application process.
IFSCA Grade A 2024 General Awareness Topic-Wise Weightage
The questions in this section were a mix of current events, financial news, and some static GK.
| IFSCA Grade A Phase 1 Paper 1 GA Topic-Wise Weightage | |
| Topic | No. of Questions |
| General Awareness | 3 |
| Reports | 3 |
| Schemes | 1 |
| Banking and Finance | 17 |
| RBI Notifications | 1 |
Clearly, financial and economic awareness dominated the GA section. Pure static or random GK was limited.
IFSCA Grade A 2024 General Awareness Topic-Wise Difficulty Level
While some questions were direct, others needed good conceptual recall, especially from budget and financial reports.
| IFSCA Grade A Phase 1 Paper 1 GA Difficulty Level | |||
| Topic | Easy | Moderate | Difficult |
| General Awareness | 2 | 1 | NA |
| Reports | 2 | NA | 1 |
| Schemes | NA | 1 | NA |
| Banking and Finance | 5 | 9 | 3 |
| RBI Notifications | NA | 1 | NA |
The level wasn’t extremely tough, but it wasn’t a free pass either. You needed good revision and conceptual understanding, especially for economy-related topics.
General Awareness Takeaways for IFSCA Grade A Aspirants
- Prioritise banking, financial and regulatory updates in your preparation.
- Focus more on quality than quantity in current affairs.
- Don’t skip the Union Budget, Economic Survey, and updates from IFSC-related bodies.
- Static GK was limited, but Acts, schemes, and financial bodies are still relevant.
IFSCA Grade A 2024 English Topic-Wise Weightage
This section tested grammar, comprehension, and vocabulary through a well-balanced mix of questions.
| IFSCA Grade A Phase 1 Paper 1 English Topic-Wise Weightage | |
| Topic | No. of Questions |
| Sentence Correction | 3 |
| Double Fillers | 3 |
| Error Detection | 5 |
| Reading Comprehension | 7 |
| Correct Usage of Words | 4 |
| Single Fillers | 3 |
Reading Comprehension had the highest weightage, but grammar-based questions formed a solid chunk too. A good command of sentence structure and vocabulary was key.
IFSCA Grade A 2024 English Topic-Wise Difficulty Level
Most questions were doable if your basics were in place. No surprises, just standard patterns.
| IFSCA Grade A Phase 1 Paper 1 English Topic-Wise Difficulty Level | |||
| Topic | Easy | Moderate | Difficult |
| Double Fillers | 1 | 2 | NA |
| Sentence Correction | NA | 3 | NA |
| Correct Usage of Words | 1 | 3 | NA |
| Error Detection | NA | 3 | 2 |
| Reading Comprehension | 1 | 6 | NA |
| Single Filler | 2 | 1 | NA |
This section was fair. Candidates with regular reading habits and consistent practice could score well here without much trouble.
English Takeaways for IFSCA Grade A Aspirants
- Practice Reading Comprehension regularly. It’s always the highest-weighted topic.
- Strengthen grammar rules, especially tenses, subject-verb agreement, and modifiers.
- Build your vocabulary through daily reading, not just word lists.
- Attempt previous year questions to get a feel of IFSCA’s English pattern.
IFSCA Grade A 2024 Quantitative Aptitude Topic-Wise Weightage
This section had a mix of arithmetic, DI, and a bit of modern math. Nothing out of the box, but time-consuming if your basics weren’t strong.
| IFSCA Grade A Phase 1 Paper 1 Quantitative Aptitude Topic-Wise Weightage | |
| Topic | No. of Questions |
| Number Series | 5 |
| Approximation | 5 |
| Data Interpretation | 10 |
| Profit & Loss | 1 |
| Income & Expenditure | 1 |
| Boat & Stream | 1 |
| Partnership | 1 |
| Percentage | 1 |
DI and Arithmetic clearly dominated. If you were fast with calculations and had clear formulas, this section was manageable. But poor time management could hurt.
- Answer Key
- Phase 1+2
- Detailed Explanations
- Answer Writing
IFSCA Grade A 2024 Quantitative Aptitude Topic-Wise Difficulty Level
Most questions were moderate in terms of concepts, but options were close, so accuracy mattered a lot.
| IFSCA Grade A Phase 1 Paper 1 Quantitative Aptitude Topic-Wise Difficulty Level | |||
| Topic | Easy | Moderate | Difficult |
| Number Series | NA | 3 | 2 |
| Approximation | 3 | 2 | NA |
| Data Interpretation | 2 | 8 | NA |
| Profit & Loss | NA | 1 | NA |
| Income & Expenditure | NA | 1 | NA |
| Boat & Stream | 1 | NA | NA |
| Partnership | NA | 1 | NA |
| Percentage | 1 | NA | NA |
If you practiced DI regularly and knew your shortcuts, you were fine. But if you relied on theory and formulas alone, time became your enemy.
Quantitative Aptitude Takeaways for IFSCA Grade A Aspirants
- DI is non-negotiable. Practice sets daily. Speed and accuracy both matter.
- Approximation is free scoring. Don’t lose marks here.
- Don’t ignore chapters with just one question. They still count.
- Use mocks to test your timing. This section is about managing speed under stress.
- Don’t try to solve everything. Pick your strengths and play smart.
IFSCA Grade A 2024 Reasoning Ability Topic-Wise Weightage
This section was mostly puzzles based on seating arrangements. If you’re good at patterns and can stay patient, this was scoring. But if you panic or rush, it eats up your time.
| IFSCA Grade A Phase 1 Paper 1 Reasoning Ability Topic-Wise Weightage | |
| Topic | No. of Questions |
| Inequality | 3 |
| Blood Relation | 2 |
| Direction Sense | 4 |
| Seating Arrangement | 10 |
| Critical Reasoning | 3 |
| Miscellaneous | 3 |
Out of 25 questions, most came from puzzles. So, if you skipped puzzles, you were already at a disadvantage. The rest were standard, no surprises.
IFSCA Grade A 2024 Reasoning Ability Topic-Wise Difficulty Level
The puzzles were not very tough, but they were lengthy. If you froze, you wasted time. If you practiced, you were sorted.
| IFSCA Grade A Phase 1 Paper 1 Reasoning Ability Topic-Wise Difficulty Level | |||
| Topic | Easy | Moderate | Difficult |
| Inequality | 3 | NA | NA |
| Blood Relation | NA | 2 | NA |
| Direction Sense | NA | 4 | NA |
| Seating Arrangement | 5 | 5 | NA |
| Critical Reasoning | NA | 3 | NA |
| Miscellaneous | 3 | NA | NA |
Except for puzzles, everything else was direct and doable. But time pressure made it feel harder than it was.
Reasoning Ability Takeaways for IFSCA Grade A Aspirants
- Puzzles will make or break this section. Practice different types: floor-based, box-based, circular seating.
- Don’t ignore small topics like directions or blood relations. They’re fast and scoring.
- Attempt easy ones first. Don’t jump into the biggest puzzle in Q1.
- Use smart skipping. If a puzzle takes more than 3 minutes, leave it.
- Time-based sectional mocks help a lot. You can’t improve reasoning just by reading solutions.
Not sure how many papers, marks, or time limits there are? View the IFSCA Grade A Exam Pattern to understand the paper structure.
IFSCA Grade A Exam Analysis 2024: Phase 1 Paper 2
Paper 2 was all about your domain knowledge. If you were well-read on financial markets, regulators, and GIFT City, this was manageable. But if your prep was generic, it got tricky. Let’s break the IFSCA Grade A exam analysis of Phase 1 Paper 2 topic by topic.
Thinking of attempting IFSCA Grade A in 2025? First, check if you’re eligible. Read our IFSCA Grade A Eligibility article.
IFSCA Grade A 2024 Finance Topic-Wise Weightage
Finance in Paper 2 was core. It didn’t go too deep, but you needed strong clarity of terms and recent updates.
| IFSCA Grade A Phase 1 Paper 2 Finance Topic-Wise Weightage | |
| Topic | No. of Questions |
| Primary and secondary market – Debt | 2 |
| Financial inclusion | 2 |
| Basics of Derivatives – Futures/Forwards/Swaps | 1 |
| Primary & secondary market – Equity | 1 |
| Primary & secondary market – Forex | 1 |
| Current Affairs | 4 |
| Inflation | 1 |
| Out of syllabus | 1 |
The majority of questions were from the primary and secondary markets used by RBI. Derivatives and financial news came too, but the basics only.
IFSCA Grade A 2024 Finance Topic–Wise Difficulty Level
Questions were more conceptual than current-affairs-based. You couldn’t guess them unless you actually studied the topics.
| IFSCA Grade A Phase 1 Paper 2 Finance Topic-Wise Difficulty Level | |||
| Topic | Easy | Moderate | Difficult |
| Primary and secondary market – Debt | 2 | NA | NA |
| Financial inclusion | 1 | NA | 1 |
| Basics of Derivatives – Futures/Forwards/Swaps | NA | 1 | NA |
| Primary & secondary market – Equity | 1 | NA | NA |
| Primary & secondary market – Forex | 1 | NA | NA |
| Current Affairs | 2 | 2 | NA |
| Inflation | 1 | NA | NA |
| Out of syllabus | NA | NA | 1 |
If you’ve prepared for RBI or SEBI Grade A, this was familiar territory. For others, it needed a focused revision.
Finance Takeaways for IFSCA Grade A Aspirants
- Read about forex, primary markets, secondary markets, debt, equity markets. These come every time.
- Derivatives need only basic theory. No calculations asked.
- Try to link monetary tools with real economy outcomes. That helps in interviews, too.
IFSCA Grade A 2024 Management Topic-Wise Weightage
The management section was short and crisp. Only 4 questions, but direct. No confusion, no lengthy case studies.
If you covered the basics of functions, communication styles, and leadership theories, this part felt like free marks.
| IFSCA Grade A Phase 1 Paper 2 Management Topic-Wise Weightage | |
| Topic | No. of Questions |
| Communication | 1 |
| Leadership | 1 |
| General Management | 2 |
There was nothing off-track. All questions were from expected areas.
IFSCA Grade A 2024 Management Topic-Wise Difficulty Level
The section was designed to reward those who had done basic theory. Just straight, factual testing.
| IFSCA Grade A Phase 1 Paper 2 Management Topic-Wise Difficulty Level | |||
| Topic | Easy | Moderate | Difficult |
| Communication | 1 | NA | NA |
| Leadership | 1 | NA | NA |
| General Management | 1 | 1 | NA |
3 out of 4 questions were a cakewalk. The only one that needed a bit of thinking was from General Management, possibly related to planning or decision-making processes.
Management Takeaways for IFSCA Grade A Aspirants
- Stick to basics and simple concepts. That’s mostly asked.
- Don’t waste time going deep into HR or admin-based models. Not needed here.
- Solve MCQs weekly. This section will always be short, but scoring, so stay sharp.
- Answer Key
- Phase 1+2
- Detailed Explanations
- Answer Writing
IFSCA Grade A 2024 Commerce and Accountancy Topic-Wise Weightage
This was a medium-weight section with 12 questions. The focus stayed on Ratio Analysis and standard accounting principles.
But 3 questions were totally out of the syllabus, and that threw some candidates off.
| IFSCA Grade A Phase 1 Paper 2 Commerce & Accountancy Topic-Wise Weightage | |
| Topic | No. of Questions |
| Introduction to Accounting | 1 |
| Theory Base of Accounting | 1 |
| Ratio Analysis | 4 |
| Accounting for Bonus Shares & Rights Issue | 1 |
| Accounting Std. for Property Plant & Equipment | 1 |
| Financial Statement Analysis & Fund Flow | 1 |
| Out of Syllabus | 3 |
Ratio Analysis dominated the section. Other topics were evenly spread.
IFSCA Grade A 2024 Commerce and Accountancy Topic-Wise Difficulty Level
Most questions were direct, concept-based. Ratio and accounting fundamentals were on the easier side.
| IFSCA Grade A Phase 1 Paper 2 Commerce & Accountancy Topic-Wise Difficulty Level | |||
| Topic | Easy | Moderate | Difficult |
| Introduction to Accounting | 1 | NA | NA |
| Theory Base of Accounting | 1 | NA | NA |
| Ratio Analysis | 3 | 1 | NA |
| Accounting for Bonus Shares & Rights | 1 | NA | NA |
| Accounting Std for Property, Plant, and Equipment | NA | 1 | NA |
| Financial Statement Analysis & Fund Flow | 1 | NA | NA |
| Out of Syllabus | NA | 2 | 1 |
7 out of 10 questions were very much doable. Only 1 question actually felt tough. If you were solid with Ratio formulas and basic accounting standards, this was a scoring opportunity.
Commerce and Accountancy Takeaways for IFSCA Grade A Aspirants
- Ratio Analysis is a must. Weightage is always high — revise formulas and application-based MCQs.
- Accounting basics: rights issue, bonus, PPE. Don’t skip them.
- Stay updated on Accounting Standards (AS 10 was in focus this time).
- Out-of-syllabus questions can happen. Don’t stress, just guess smart and move on.
- Practice small case-based MCQs. It helps with speed and confidence.
IFSCA Grade A 2024 Costing Topic-Wise Weightage
Costing was short but focused. Only 5 questions came, but all were from core topics.
Marginal costing had the most weightage this time, while the rest covered the standard costing methods.
| IFSCA Grade A Phase 1 Paper 2 Costing Topic-Wise Weightage | |
| Topic | No. of Questions |
| Overview of Cost & Management Accounting | 1 |
| Job Costing & Batch Costing | 1 |
| Process or Operating Costing | 1 |
| Marginal Costing | 2 |
The section was concept-driven. There were no surprises or complicated numericals. If you revised theory + a few basic sums, this was scoreable.
IFSCA Grade A 2024 Costing Topic-Wise Difficulty Level
The overall difficulty level was mild. No calculation traps. You just had to be conceptually clear. Most of the questions could be solved in under a minute.
| IFSCA Grade A Phase 1 Paper 2 Costing Topic-Wise Difficulty Level | |||
| Topic | Easy | Moderate | Difficult |
| Overview of Cost & Mgmt Accounting | 1 | NA | NA |
| Job Costing & Batch Costing | 1 | NA | NA |
| Process or Operating Costing | NA | 1 | NA |
| Marginal Costing | 1 | 1 | NA |
Only one moderate question from Marginal costing needed a bit more thinking. Rest were plain and direct. No case-based or tricky twists.
Costing Takeaways for IFSCA Grade A Aspirants
- Focus on Marginal Costing. It consistently gets more than one question.
- Theory matters. Don’t just practice sums. Know the “why” behind each method.
- Practice previous years’ job costing, batch costing, and process costing formats.
- Revise definitions + differences between cost centres, cost units, and cost types.
IFSCA Grade A 2024 Economic and Social Development Topic-Wise Weightage
This section had a mix of theory and current affairs. While only 3 questions were purely conceptual, the rest were drawn from economic events and reports in the news. If your prep balanced static + current, this was manageable.
| IFSCA Grade A Phase 1 Paper 2 Economic & Social Development Topic-Wise Weightage | |
| Topic | No. of Questions |
| Market Structures | 1 |
| Supply and Demand for Money | 1 |
| Demographic Trends | 1 |
| Current Affairs | 4 |
Static questions tested your understanding of economic theory, while current affairs needed regular reading of budget, surveys, and economic updates. The section leaned more towards current relevance.
IFSCA Grade A 2024 Economic and Social Development Topic-Wise Difficulty Level
Theoretical questions weren’t too tricky, but required conceptual clarity. The current affairs bit had a mix. 2 were straightforward, 2 were a bit unexpected or needed deeper analysis.
| IFSCA Grade A Phase 1 Paper 2 Economic & Social Development Topic-Wise Difficulty Level | |||
| Topic | Easy | Moderate | Difficult |
| Market Structures | NA | 1 | NA |
| Supply & Demand | NA | 1 | NA |
| Demographic Trends | NA | 1 | NA |
| Current Affairs | 2 | NA | 2 |
Overall moderate section. Some budget and policy-related current affairs caught students off guard, but the rest were textbook-level.
Economic and Social Development Takeaways for IFSCA Grade A Aspirants
- Balance is key. Divide your prep between theory (like demand-supply, GDP, fiscal deficit) and current events (Budget, Eco Survey).
- Practice MCQs that combine concept + current (e.g., impact of repo rate on inflation).
- For current affairs, revise the last 6 months of government reports and schemes.
- Focus on demographic trends, poverty, employment, and market types. They show up every year in some form.
IFSCA Grade A 2024 General Knowledge and Current Events Topic-Wise Weightage
This section touched a wide variety of topics, from static GK to government schemes, science & tech, and current reports.
Schemes had the highest weightage, but the rest were scattered evenly.
| IFSCA Grade A Phase 1 Paper 2 General Knowledge Topic-Wise Weightage | |
| Topic | No. of Questions |
| Sports | 1 |
| Schemes | 3 |
| Science and Tech | 2 |
| Reports and Indices | 2 |
| Government Initiatives | 1 |
The spread was wide. If you followed monthly current affairs PDFs or news-based revision, you could pick up at least 4–5 marks here. Static-only prep wouldn’t have worked.
IFSCA Grade A 2024 General Knowledge and Current Events Topic-Wise Difficulty Level
Some questions were direct (like the one from sports), but others required more depth or recent awareness, especially reports and new initiatives.
| IFSCA Grade A Phase 1 Paper 2 General Knowledge Topic-Wise Difficulty Level | |||
| Topic | Easy | Moderate | Difficult |
| Sports | 1 | NA | NA |
| Schemes | 2 | 1 | NA |
| Science and Tech | NA | 1 | 1 |
| Reports and Indices | NA | 1 | 1 |
| Government Initiatives | NA | NA | 1 |
3–4 questions were free marks if your prep was current. The rest needed a little more awareness of government reports or updates.
General Knowledge Takeaways for IFSCA Grade A Aspirants
- Schemes are always important. Focus on newly launched and recently revamped ones.
- Sports questions usually ask about recent winners or venues. Revise the last 6 months.
- Science and tech mean ISRO, AI policies, space missions, not pure science.
- Don’t just read reports and indices. Know who publishes them and what they mean.
- Cover government schemes through the Budget and PIB summaries. They come often.
- Answer Key
- Phase 1+2
- Detailed Explanations
- Answer Writing
IFSCA Grade A Exam Analysis 2024: Phase 2 Paper 1 (Descriptive English)
Phase 2 Paper 1 (Descriptive English) was all about expression, i.e., how clearly and concisely you can put your thoughts into words. There were 3 questions (Essay, Precis and Reading Comprehension) to attempt in 1 hour, and all were compulsory. No choice.
You had to type all answers using a keyboard on-screen. And word limit was strictly to be followed.
| IFSCA Grade A Phase 2 Paper 1 Descriptive English Analysis | ||
| Section | Difficulty Level | Analysis |
| Essay Writing | Moderate | Topics were current (mental health, social media, buying behavior), required analysis, structure, and examples. Word and time limits add pressure but are manageable. |
| Precis Writing | Moderate | Passage on trust and ethics at the workplace. Writing a concise, well-structured précis required precision and summarization skills. |
| Comprehension | Moderate | Passage on moonlighting. Questions involve both direct and inference-based answers. |
| Overall | Moderate | None of the sections was extremely easy or unusually tough. |
Want to know what all topics are included? Check the complete IFSCA Grade A Syllabus in our detailed article.
IFSCA Grade A Exam Analysis 2024: Phase 2 Paper 2
This was the most crucial paper of the entire exam process. Marks from this paper directly counted toward your final merit. With 50 multiple-choice questions and just 60 minutes on the clock, every second and every mark mattered.
The paper tested your depth in core financial areas like banking, markets, insurance, and regulatory frameworks. As per IFSCA Grade A exam analysis of Phase 2 Paper 2, difficulty level was moderate to tough.
IFSCA Grade A 2024 Banking and Capital Market Topic-Wise Weightage
This section had the highest weightage in Paper 2.
Around 22 marks worth of questions came directly from banking, financial institutions, capital markets, and related current affairs.
| IFSCA Grade A Phase 2 Paper 2 Banking & Capital Market Topic-Wise Weightage | |
| Topic | No. of Questions |
| Derivatives – Futures, Forwards, Swaps | 2 |
| Bonds | 1 |
| Functions of RBI | 2 |
| Banking System in India | 1 |
| Financial Institutions | 4 |
| Primary & Secondary Market – Debt Market | 2 |
| Financial Risk Management | 1 |
| Non-Banking System | 2 |
| Primary & Secondary Market – Equity | 1 |
| Development in Digital Payment System | 1 |
| Bullion | 2 |
| Miscellaneous | 2 |
| Current Affairs | 1 |
Questions covered both core concepts and recent developments. Financial Institutions and Derivatives had a higher weightage. One or two questions also tested your awareness of ongoing digital trends in banking.
IFSCA Grade A 2024 Banking and Capital Market Topic-Wise Difficulty Level
This section had a mix of direct and application-based questions. While some areas, like RBI and bond markets, were scoring, others, like derivatives and digital payments, needed a deeper understanding.
| IFSCA Grade A Phase 2 Paper 2 Banking and Capital Market Topic-Wise Difficulty Level | |||
| Topic | Easy | Moderate | Difficult |
| Derivatives – Futures, Forwards, Swaps | NA | NA | 2 |
| Bonds | NA | 1 | NA |
| Functions of RBI | 2 | NA | NA |
| Banking System in India | 1 | NA | NA |
| Financial Institutions | 2 | 1 | 1 |
| Primary & Secondary Market – Debt Market | 2 | NA | NA |
| Financial Risk Management | NA | 1 | NA |
| Non-Banking System | 1 | 1 | NA |
| Primary & Secondary Market – Equity | 1 | NA | NA |
| Development in Digital Payment System | NA | NA | 1 |
| Bullion | 1 | 1 | NA |
| Miscellaneous | 1 | NA | NA |
| Current Affairs | 1 | NA | NA |
Around half the questions were moderate, while 4–5 were genuinely tough. Derivatives in particular surprised many candidates.
Banking and Capital Market Takeaways for IFSCA Grade A Aspirants
- Brush up on derivatives: forwards, swaps, options, and how they’re used in hedging and speculation. These are high-weight and often difficult.
- Financial Institutions like NABARD, SIDBI, NHB, and EXIM Bank come every year. Know their roles, functions, and latest updates.
- Revise both equity and debt markets, especially instruments like T-bills, G-secs, and corporate bonds.
- RBI topics are scoring. Focus on its functions, committees, and monetary policy tools.
- Don’t ignore digital banking and recent developments in UPI, CBDC, and fintech.
- Prepare for a few cross-topic MCQs, like how NBFCs participate in capital markets, or fintech’s role in bullion trading.
IFSCA Grade A 2024 Economic Survey & Union Budget Weightage
This part focused on India’s recent fiscal direction i.e. policies, allocations, and themes from the Union Budget 2024 and Economic Survey 2023–24. Union Budget had a higher weightage.
| IFSCA Grade A Phase 2 Paper 2 Budget & Economic Survey Weightage | |
| Topic | No. of Questions |
| Economic Survey | 1 |
| Union Budget | 3 |
Budget clearly had more weight, with questions testing understanding of schemes, priority sectors, and tax changes. One question from the Economic Survey asked about key highlights.
IFSCA Grade A 2024 Economic Survey & Budget Difficulty Level
Questions weren’t very tough, but you had to know specifics. Surface prep wouldn’t do justice here, especially for the Budget.
| IFSCA Grade A Phase 2 Paper 2 Economic Survey & Budget Difficulty Level | |||
| Topic | Easy | Moderate | Difficult |
| Economic Survey | NA | 1 | NA |
| Union Budget | 1 | 2 | NA |
Nothing out of the syllabus, but you needed details, like which ministry got what allocation, or which scheme was given special emphasis.
Economic Survey & Budget Takeaways for IFSCA Grade A Aspirants
- Focus on theme-based Budget analysis, not just numbers. Understand the government’s fiscal intent, such as capital expenditure, green energy, infra focus, etc.
- Know the flagship schemes announced or expanded, like PM Gati Shakti, Skill Development Missions, etc.
- Read Economic Survey summaries with examples. Don’t just rely on PDF dumps. Even one question here is a high return.
- Practice 1-page Budget snapshots monthly before the exam. They help revise quickly.
- Learn how Budget connects with financial markets: interest rates, fiscal deficit, and disinvestment targets. They all matter.
IFSCA Grade A 2024 GIFT City & IFSCA Act Weightage
This section tested your direct knowledge of IFSCA’s foundational structure, such as its powers, objectives, and the ecosystem it’s building in GIFT City.
| IFSCA Grade A Phase 2 Paper 2 GIFT City & IFSCA Act Weightage | |
| Topic | No. of Questions |
| GIFT City and GIFT IFSC | 2 |
| IFSCA Act | 2 |
Questions were equally split between the two. While one GIFT City question was basic, the rest needed a deep understanding of sections from the IFSCA Act , especially regulatory authority scope and jurisdiction.
IFSCA Grade A 2024 GIFT City & IFSCA Act Difficulty Level
A mix of straightforward and conceptual questions. Others required more thinking.
| IFSCA Grade A Phase 2 Paper 2 GIFT City & IFSCA Act Difficulty Level | |||
| Topic | Easy | Moderate | Difficult |
| GIFT City and GIFT IFSC | 1 | 1 | NA |
| IFSCA Act | NA | 1 | 1 |
Moderate level overall, but if you didn’t revise the IFSCA Act well, you’d have struggled.
GIFT City & IFSCA Act Takeaways for IFSCA Grade A Aspirants
- Don’t just know what GIFT City is. Understand why it exists, its role as an international financial hub, and how it’s structured.
- IFSCA Act questions often come from exact sections, especially around IFSCA’s powers, regulatory framework, and autonomy.
- Know the timeline, such as when GIFT City was set up, when IFSCA came into being, and which sectors were brought under its regulation.
- Revisit previous years’ IFSCA questions. Some patterns (like basic GIFT features) repeat.
- Answer Key
- Phase 1+2
- Detailed Explanations
- Answer Writing
IFSCA Grade A 2024 Pension Sector Topic-Wise Weightage
This section had a decent presence in the paper with a total of 9 questions, which is more than what many would’ve expected.
Most of it revolved around the National Pension Scheme (NPS): structure, rules, and withdrawal process. Other questions covered Atal Pension Yojana and different types of retirement schemes in India.
| IFSCA Grade A Phase 2 Paper 2 Pension Sector Topic-Wise Weightage | |
| Topic | No. of Questions |
| National Pension Scheme | 5 |
| Atal Pension Yojana | 2 |
| Types of Retirement Schemes and Features | 2 |
NPS clearly dominated this section. If you hadn’t revised NPS in detail, this section could’ve felt a bit difficult.
IFSCA Grade A 2024 Pension Sector Difficulty Level
The questions weren’t out of the syllabus, but they weren’t all straightforward either. You needed to have clarity on how NPS works, especially the Tier structure and withdrawal norms.
| IFSCA Grade A Phase 2 Paper 2 Pension Sector Topic-Wise Difficulty Level | |||
| Topic | Easy | Moderate | Difficult |
| National Pension Scheme | NA | 4 | 1 |
| Atal Pension Yojana | NA | 2 | NA |
| Types of Retirement Schemes | NA | 2 | NA |
Mostly moderate, with one NPS question that was a bit technical. APY questions were factual and scoring if you had seen recent updates.
Pension Sector Takeaways for IFSCA Grade A Aspirants
- National Pension Scheme (NPS) is a must-cover topic, especially its Tier I & Tier II structure, annuity rules, premature withdrawal conditions, and tax treatment.
- For Atal Pension Yojana, go beyond basics. Know the eligibility, contribution matching, and who gets the benefit..
- This section offers high returns for moderate effort. So, don’t ignore it while focusing on core finance topics.
IFSCA Grade A 2024 Insurance Topic-Wise Weightage
Insurance was one of the most content-heavy sections this year with 11 questions in total. The major chunk came from Insurance Lines and Products, where questions tested both traditional and modern coverage types.
There was also a mix of theory, history, legal basics, and one question from current developments in the sector.
| IFSCA Grade A Phase 2 Paper 2 Insurance Topic-Wise Weightage | |
| Topic | No. of Questions |
| Basics, History and Principles of Insurance | 1 |
| Insurance Lines and Products | 6 |
| Legal Foundation of Insurance/Types | 1 |
| Functions of Insurer/Emerging Concepts | 2 |
| Current Affairs | 1 |
If you had a decent grip on insurance product classifications, you were in a good position. But there were also a couple of tricky ones from emerging tech in insurance.
IFSCA Grade A 2024 Insurance Difficulty Level
Most of the questions sat in the moderate range.
| IFSCA Grade A Phase 2 Paper 2 Insurance Topic-Wise Difficulty Level | |||
| Topic | Easy | Moderate | Difficult |
| Basics, History, and Principles of Insurance | NA | 1 | NA |
| Insurance Lines and Products | 1 | 4 | 1 |
| Legal Foundation of Insurance/Types | NA | NA | 1 |
| Functions of Insurer/Emerging Concepts | NA | 1 | 1 |
| Current Affairs | NA | 1 | NA |
One or two questions definitely tested a deeper understanding, especially around legal types and modern insurer functions.
Insurance Takeaways for IFSCA Grade A Aspirants
- Be thorough with different types of insurance products: life, health, general, ULIPs, annuities, and how they differ.
- Brush up on IRDAI guidelines, especially those that relate to product classifications and regulatory norms.
- Understand emerging insurance concepts like embedded insurance, digital underwriting, and insurtech. They’re hot topics.
- One question was about current insurance sector reforms, so regularly track sectoral updates from IRDAI press releases.
- Don’t neglect the legal side. Contract elements, types of risk, and insurable interest. These basics still show up every year.
We’ve compiled this analysis based on actual memory-based questions. You can also check out the IFSCA Grade A Previous Year Questions article to see what was asked.
What the IFSCA Grade A Exam Analysis Means for 2025 Aspirants
The IFSCA Grade A exam analysis showed that having clarity on basics and being aware of recent developments is key. The paper wasn’t extremely tough, but it did test depth in every subject.
Whether it was Phase 1 or Phase 2, the focus stayed on core concepts, practical understanding, and smart time management. Many questions were direct, but a few were surprising, especially in Finance and Current Affairs.
This IFSCA Grade A exam analysis can help avoid those surprises next time. With the right approach and regular revision, the 2025 paper can be handled with confidence.
