1. How much work experience is required before sitting for the ERP Exam? Is a specific academic background required? There are no educational or professional prerequisites to sit for the ERP Exam. However, there is a professional experience requirement that must be fulfilled before candidates can become certified as an Energy Risk Professional. To review ERP certification requirements, click here.

2. How much time is needed to prepare for the ERP Exam? Candidates' preparation times will vary based on their prior professional experience level, academic backgrounds, and familiarity with the concepts tested on the curriculum. It is difficult to recommend a particular number of hours to dedicate to studying, but candidates should expect to commit to between 300-400 hours of preparation time.

3. Who designs the ERP Exam? GARP's Energy Oversight Committee (EOC) plays a vital role in preparing the ERP Exam. For that reason GARP ensures that the committee is composed of individuals with expertise spanning the full range of disciplines covered by the ERP Exam. Current EOC members include an equal weighting of senior practitioners with expertise in risk consulting, commodity trading, risk management and quantitative analysis from both the physical and financial markets. In order to ensure that Exam topics and questions are current and relevant, the EOC updates the ERP Study Guide annually and finalizes questions approximately two months prior to administration of the Exam. Before it is finalized, the Exam is reviewed by a select group of energy market experts from around the world to ensure that questions are unambiguous and clear to candidates regardless of where in the world they may be sitting for the Exam.

4. What are my career prospects after becoming a Certified Energy Risk Professional? By choosing the ERP, you are selecting the only risk management designation in the world for energy risk professionals. As global economies rebound and the world population grows, global energy requirements will expand, creating demand for highly trained energy risk professionals. Earning your ERP designation not only broadens your skill set, it demonstrates a standardized level of industry knowledge, making you a recognized leader in energy risk management. To learn more about the career benefits of the ERP, click here.

5. Who is GARP, and why is GARP qualified to certify risk managers? The Global Association of Risk Professionals is the only globally recognized professional association for financial and energy risk certification and education. In fulfilling our unique mission to elevate the practice of risk management at all levels throughout an organization, GARP sets the global standard for the risk profession. Founded in 1996, we are a nonprofit, nonpartisan membership organization of over 150,000 individuals that does not engage in political lobbying. This independence allows us to develop, design, and administer certification programs that reflect industry best practices. We are governed by a Board of Trustees /garp/board-of-trustees.aspx composed of distinguished risk management practitioners drawn from some of the most prominent global financial firms and universities. To learn more about GARP, click here.

6. What is the difference between the FRM and the ERP? The FRM is an excellent way for candidates to improve their knowledge of market risk, operational risk, credit risk, integrated risk management, valuation and risk models, and risk management in investment management, among other topics. The ERP is focused more specifically on the physical and financial risks associated with the energy industry.

7. How is the Exam scored? The passing score is determined each Exam administration by the Energy Oversight Committee.

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If you are unable to find the answer to your question, please don't hesitate to contact us at memberservices@garp.com.