What Is an Energy Chance Professional (ERP)?
Energy Chance Professional (ERP) is an authorized designation awarded by the use of the Global Association of Chance Execs (GARP) to those that art work throughout the oil, coal, natural gas, and choice energy industries. As of 2021, the designation is probably not offered.
Key Takeaways
- Energy Chance Professional (ERP) is an authorized designation supplied by the use of the Global Association of Chance Execs (GARP).
- The ERP designation is done by the use of other people working throughout the oil, coal, natural gas, and choice energy industries.
- The ERP designation equates to sophisticated ranges in a lot of world places, similar to a take hold of’s level in the united states.
- The purpose of the ERP exam is to gauge the ability of an applicant to control the physically and financial risks inherent on this planet of energy.
- GARP offered in 2020 that the designation is probably not offered and that 2021 will be the ultimate one year exams are carried out; perfect for individuals who have completed Segment I of the two-part exam.
Working out an Energy Chance Professional (ERP)
Other people on the lookout for this designation must whole a rigorous self-study program, move a 180-question, eight-hour exam, have no less than two years of qualifying art work enjoy, and comply with the Global Association of Chance Execs’ professional code of behavior.
A luck applicants earn the proper to use the Energy Chance Professional (ERP) designation with their names, which is in a position to give a boost to task possible choices, professional reputation, and pay. The Energy Chance Professional (ERP) program is complicated by the use of seasoned energy pros to turn applicants about real-world situations.
GARP offered in 2020 that 2021 will be the ultimate one year the ERP exam will be offered as interest throughout the ERP designation has lowered, in line with a study by the use of the crowd. On account of this, it will no longer be conceivable to obtain an Energy Chance Professional (ERP) designation.
Attributes of an Energy Chance Professional (ERP)
The study program to change into an Energy Chance Professional (ERP) covers physically energy markets, financial purchasing and promoting gear, valuation and structuring of energy transactions, likelihood keep watch over in financial purchasing and promoting, financial disclosure, accounting, and compliance.
Other folks with the Energy Chance Professional (ERP) designation may art work for banks, tutorial institutions, consulting companies, asset keep watch over companies, and a wide variety of different organizations thinking about energy likelihood.
The designation equates to a specific level stage. For instance, the ERP designation is very similar to an American take hold of’s level, the Regulated {{Qualifications}} Framework Stage 7 in the United Kingdom, the Ontario {{Qualifications}} Framework Stage 12 in Canada, and the Hong Kong {{Qualifications}} Framework Stage 6 in Hong Kong. Stage equivalents moreover follow throughout the Eu Union, Singapore, Australia, India, the United Arab Emirates, and South Africa.
To take care of the ERP designation, folks must participate throughout the Continuing Professional Construction (CRP) program. This program promises that pros keep knowledgeable about business trends, characteristics, and best possible practices. Available to people are podcasts, training categories, and articles.
The Energy Chance Professional (ERP) Exam
The Energy Chance Professional (ERP) Exam is taken to earn the ERP designation. It is designed to measure a candidate’s knowledge of the primary energy markets and gauge their skill to control the physically and financial risks inherent throughout the complicated international of energy.
The exam provides an entire assessment of all number one energy markets, at the side of the upstream and downstream processes associated with every, the purchasing and promoting and structuring of more than a few energy commodities, and the id, measurement, and keep watch over of key physically and financial risks.
Candidates must successfully move two multiple-choice exams: ERP Exam Segment I and ERP Exam Segment II. Segment I consists of 80 questions, to be completed inside of of four hours. This exam consists of questions testing the candidate’s knowledge of physically energy commodity markets. Segment II consists of 60 questions, moreover to be completed inside of of four hours. Segment II evaluates the test-takers’ knowledge of the applying of energy derivatives and likelihood mitigation.
Additional Exam Details
- Worth: Since the exam isn’t offered, perfect Segment II of the exam will be offered in 2021 for individuals who have completed Segment I. The cost is $475 with an early registration worth of $350.
- Prerequisites: None
- Move Grade: Move/Fail
- Artwork Revel in: Two years of comparable art work enjoy after the exam
- Exam Date(s): Would possibly 15, 2021
- Exam Results: In most cases supplied within six weeks
- Skilled Exam Website: http://www.garp.org/erp/
What the Energy Chance Professional (ERP) Exam Covers
Segment I of the exam specializes in the following:
- Crude oil and gentle product markets
- Natural gas and coal markets
- Electric power markets and gear technology
Segment II of the exam specializes in the following:
- Financial energy products
- Chance assessment and energy worth modeling
- Chance keep watch over equipment
