Energy Risk Professional (ERP)
What Is an Energy Risk Professional (ERP)?
Energy Risk Professional (ERP) is a professional assignment granted by the Global Association of Risk Professionals (GARP) to people who work in the oil, coal, natural gas, and alternative energy industries. Starting around 2021, the assignment will never again be offered.
Understanding an Energy Risk Professional (ERP)
Individuals seeking this assignment must complete a thorough self-study program, pass a 180-question, eight-hour exam, have no less than two years of qualifying work experience, and consent to the Global Association of Risk Professionals' professional code of conduct.
Fruitful candidates earn the right to utilize the Energy Risk Professional (ERP) assignment with their names, which can further develop job opportunities, professional reputation, and pay. The Energy Risk Professional (ERP) program is developed via seasoned energy professionals to show candidates genuine situations.
GARP announced in 2020 that 2021 will be the last year the ERP exam will be offered as interest in the ERP assignment has diminished, as per a study by the organization. Therefore, it will presently not be imaginable to get an Energy Risk Professional (ERP) assignment.
Properties of an Energy Risk Professional (ERP)
The study program to turn into an Energy Risk Professional (ERP) covers physical energy markets, financial trading instruments, valuation and organizing of energy transactions, risk management in financial trading, financial disclosure, accounting, and compliance.
People with the Energy Risk Professional (ERP) assignment might work for banks, scholarly institutions, counseling firms, asset management firms, and a wide assortment of different organizations worried about energy risk.
The assignment likens partially level. For example, the ERP assignment is equivalent to an American graduate degree, the Regulated Qualifications Framework Level 7 in the United Kingdom, the Ontario Qualifications Framework Level 12 in Canada, and the Hong Kong Qualifications Framework Level 6 in Hong Kong. Degree equivalents likewise apply in the European Union, Singapore, Australia, India, the United Arab Emirates, and South Africa.
To keep up with the ERP assignment, individuals must participate in the Continuing Professional Development (CRP) program. This program guarantees that professionals stay proficient about industry trends, developments, and best practices. Accessible to individuals are digital broadcasts, training courses, and articles.
The Energy Risk Professional (ERP) Exam
The Energy Risk Professional (ERP) Exam is taken to earn the ERP assignment. It is intended to measure an up-and-comer's information on the major energy markets and check their ability to deal with the physical and financial risks inherent in the complex world of energy.
The exam gives an extensive outline of all major energy markets, including the upstream and downstream processes associated with each, the trading and organizing of different energy commodities, and the identification, measurement, and management of key physical and financial risks.
Competitors must effectively finish two various decision exams: ERP Exam Part I and ERP Exam Part II. Part I comprises of 80 inquiries, to be completed in four hours or less. This exam comprises of inquiries testing the applicant's information on physical energy commodity markets. Part II comprises of 60 inquiries, additionally to be completed in 4 hours or less. Part II assesses the test-takers' information on the application of energy derivatives and risk relief.
Extra Exam Details
- Cost: As the exam is not generally offered, just Part II of the exam will be offered in 2021 for the people who have completed Part I. The cost is $475 with an early registration cost of $350.
- Prerequisites: None
- Pass Grade: Pass/Fail
- Work Experience: Two years of pertinent work experience after the exam
- Exam Date(s): May 15, 2021
- Exam Results: Usually gave in six weeks or less
- Official Exam Website: http://www.garp.org/erp/
What the Energy Risk Professional (ERP) Exam Covers
Part I of the exam centers around the accompanying:
- Crude oil and refined product markets
- Natural gas and coal markets
- Power markets and power age
Part II of the exam centers around the accompanying:
- Financial energy products
- Risk assessment and energy price demonstrating
- Risk management apparatuses
Features
- GARP announced in 2020 that the assignment will never again be offered and that 2021 will be the last year exams are conducted; just for the people who have completed Part I of the two-part exam.
- The ERP assignment compares to advanced degrees in various nations, like a graduate degree in the United States.
- The purpose of the ERP exam is to measure the ability of a candidate to deal with the physical and financial risks inherent in the world of energy.
- The ERP assignment is completed by people working in the oil, coal, natural gas, and alternative energy industries.
- Energy Risk Professional (ERP) is a professional assignment given by the Global Association of Risk Professionals (GARP).
