Reserved listener gets graded (9)
I believe the answer is:
earmarked
'reserved' is the definition.
('earmark' can be a synonym of 'reserve')
'listener gets graded' is the wordplay.
'listener' becomes 'ear' (body part which hears or listens).
'gets' means one lot of letters go next to another.
'graded' becomes 'marked' ('mark' can be a synonym of 'grade').
'ear'+'marked'='EARMARKED'
(Other definitions for earmarked that I've seen before include "Set aside for future use" , "Like some identified animals" , "Reserved, set aside" , "Carefully chosen" , "Set aside for a specific purpose" .)