Preparing for the Energy Risk Professional (ERP) Exam
For those of you who are new to this certification, ERP is a certification program offered by GARP for energy risk professionals.
In this article, we will talk about how to prepare for the ERP exam, what are the topics covered, and other exam preparation details.
To start with, you must know that ERP is a comprehensive exam and tests your knowledge on the various aspects of energy and financial markets.
Exam Syllabus
The various sections of the exam and their weightings are given below:
The test weights and question allocation for the 2011 ERP Exam will be as follows:
| Physical Energy Markets | Total weight 40% | |
| Petroleum | 15% | |
| Gas | 10% | |
| Electricity Production and Distribution | 10% | |
| Renewables and Carbon Emissions | 5% | |
| Financial Markets | Total weight - 50% | |
| Financial Products and Valuation | 20% | |
| Modeling and Valuing Energy Transactions | 15% | |
| Risk Management Techniques | 15% | |
| Current Issues in Energy | Total weight - 10% | |
Exam Details
The ERP exam is a a paper based exam, which is conducted in two sessions. The exam will have a total of 180 multiple-choice questions, 90 questions in each session.
How much time to study?
The answer to this question varies from person to person, however, GARP suggests that a candidate should spend anywhere around 200 to 300 hours for the exam preparation. In terms of weeks, the students should plan their studies in such a away that they are able to complete the entire reading list in 13 to 20 weeks.
When is the Exam Conducted?
The exam is conducted in the month of May and November every year.