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
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,
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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