As announced on November 30, 2020, GARP will only give Part II Exams for the ERP in 2021 and will discontinue the entire program thereafter but continue to provide research, content, events, and networking for the energy risk community.
ERP Certification will continue to be awarded after a candidate has successfully completed the ERP Exam Part I and Part II and demonstrated two years of relevant work experience. A mandatory Continuing Professional Development (CPD) program helps to ensure Certified ERPs remain up to date with industry developments, market trends, and best practices. This will also continue.
Once you have registered for the ERP Exam Part II, you will receive access to the GARP portal where you can manage all your program information, track your progress, and schedule your Exam when applicable. For more information, see our FAQs. During this process you should:
Candidates who have passed Part I of the ERP Exam, can register for the Part II Exam by logging in to the GARP portal and completing registration there. GARP is no longer accepting new registrations for ERP Part I Exams.
GARP offers a number of resources to help you prepare. Learn More
*Note: Work experience accrued more than 10 years prior to passing the ERP Exam Part II is not eligible for certification.
The ERP Exam Part II is offered via computer-based testing (CBT). It will be administered in English at testing sites around the world in May and November 2021.
The ERP Exam Part II builds on concepts from the Part I Exam, emphasizing the understanding and application of energy derivatives and how they are applied to effectively mitigate risk. Core concepts such as energy price modeling techniques, and the assessment of market, credit, and operational risk associated with commercial operations are covered from a practical energy market perspective. The Part II Exam is always offered in the afternoon and must be completed in four hours or less.
Exam results are pass/fail and are emailed approximately eight weeks after a candidate takes the Exam. Passing scores are determined by the Energy Oversight Committee. There are no penalties for wrong answers. Candidates will receive quartile results comparing their performance to other candidates.
To maintain and protect the integrity of the ERP program and ensure a fair exam process for all, there are a number of policies and procedures that candidates must comply with. Failure to comply may result in suspension or termination from the ERP Program. A full list of these is provided in our Exam Policies.
One of the things that sets the ERP Program apart is its oversight and governance. The program is developed by the Energy Oversight Committee comprised of leading industry experts and senior energy market practitioners from around the world. The ERP curriculum is reviewed and revised annually by the Energy Oversight Committee, ensuring it remains aligned with current industry practices and the latest market trends.
Prior to 2016, the ERP was offered as a single-part exam.