I came across this forum and thought I can answer few queries posted so far in this forum. I took the May-2010 ERP exam. I currently work as a Forecasting and Quantitative Analyst with an Energy company in the US-Midwest - Working in this role for almost 4 years now - Work on quant
analytics, pricing & hedging, derivatives pricing (gas and power), trade-floor support,forecasting (Day Ahead and Real Time) etc.
I rate this exam to be at 9 out of 10 in terms of difficulty (10 being the max: difficulty). I had 3 minutes left when I completed the 1st session and 2 minutes left for the 2nd (each session is 4 hours). This exam covers 4 broad aspects: (GARP classification) 1)Physical Energy Markets, 2)Financial Trading Instruments, 3)Risk Management, Valuation and
Structuring of Energy Transactions && 4)Financial Disclosure, Accounting and Compliance.
I guess majority/all of those who have posted in this forum are from India(I am from India too). Practically, we have to view things slightly differently as far as the career paths are concerned after this certification. Streams suitable for us will be one among:
a)Qualitative Risk Analysis (and Consulting),
b)Quantitative Risk Analysis (and Consulting),
c)Risk wrt physical energy commodities.
Accounting for power and other energy commodities is a separate topic by itself and the emphasis in ERP on this topic is very limited (20% in ERP). So lets skip accounting from consideration (of career paths.The legal & compliance risk reading dealt in ERP is very boring).
I guess many of you would prefer (b), given the engg background and an advanced level course in Probability & Statistics (in MBA/MS). Prior exp in IT is little helpful (but not mandatory) esp for pricing options, energy derivatives, spot & forward price paths etc. Practically in the industry(and in the interview), max: emphasis is given to Multiple-Linear Regression and problems related to this (like choice of explanatory variables). This is not covered in ERP. For pricing derivatives, the theoritical models look good on paper but the energy traders are not going to agree with the final price from the models; they watch the current market more than the models.
Several adjustments to the operating model input parameters are required to match the market. The basic understanding of the models is covered in ERP; but not the practical aspects which are more important. So if you have practical work-level exposure to these two concepts, ERP is a big plus. For gaining entry, ERP alone is less beneficial. 30% of ERP covers topics wrt option (b).
For option (c), ERP is more beneficial if one has done Petroleum Engineering and the like. However in India, these streams are treated below par to ECE/CSE/EEE branches. In ERP, this section covers topics like basics of hydrocarbons, exploration, drilling, pipelines & transportation, plants (coal, LNG, Gas, petroleum) and power. This I guess would be the least preferred option to us (given our background). 40% of ERP covers topics wrt option (c).
Reg: option (a), its more of 'company specific' rather than general concept based. i.e. things such as how much exposure to raw materials, how many days worth of inventory to have to achieve max: profit in power generation, transmission & distributions problems, power grids, engineering economy aspects etc. 10% of ERP covers topics wrt option (a) .
These are the main practical aspects to look for from our (Indian student) perspective. Examples such as those mentioned above are few of the questions I encountered during my interviews.
Hope this helps .....
Reponse to few posts ...
To: anandmehta40
Experience in IT will not be helpful in anyway in clearing this exam. But you can definitely clear this exam if you put in more effort, but for selling yourself in the interview something more is required!
To: ERPPune
As someone said, it's too early to reap benefits out of this certificaiton. It's just out in the market. Practically speaking, more than the certification it's the relevant work experience that counts; for progressing in the already established career, this definitely helps (When I took the exam in Chicago, many test-takers have been sponsored by their employer. They already have relevant work exp).
Thanks and Good Luck!
Hi all,
Just for information for all those people giving ERP this year and willing to get some sort of assistance in some or all of the chapters -
Optirisk India is organizing ERP classroom series and mock test series in three major cities - Mumbai, New Delhi, Bangalore. Here are the dates and schedule :
Mumbai :
Physical Energy market (Day One) : 3rd July
Physical Energy Market (Day Two) : 10th July
Financial Trading Instrument (Day One) : 17th July
Financial Trading Instrument (Day Two) : 31st July
Valuation and Structuring of Energy Transactions : 8th August
Risk Management in Financial Trading : 28th August
Financial Disclosure, Accounting and Compliance : 11th September
New Delhi :
Physical Energy market (Day One) : 24th July
Physical Energy Market (Day Two) : 14th August
Financial Trading Instrument (Day One) : 22nd August
Financial Trading Instrument (Day Two) : 29th August
Valuation and Structuring of Energy Transactions : 4th September
Risk Management in Financial Trading : 11th September
Financial Disclosure, Accounting and Compliance : 18th September
Bangalore :
Financial Trading Instrument (Day One) : 8th August
Financial Trading Instrument (Day Two) : 14th August
Physical Energy market (Day One) : 21st August
Physical Energy Market (Day Two) : 28th August
Valuation and Structuring of Energy Transactions : 29th August
Financial Disclosure, Accounting and Compliance : 4th September
Risk Management in Financial Trading : 18th September
Mock Test Series
Mock Test 1 : 25th September (All cities)
Mock Test 2 : 16th October (All cities)
Mock Test 3 : 30th October (All cities)
*They also provide prescribed study material for free on joining their classroom series.
You can also check it on http://www.optiriskindia.com/learningsolutions/erp/learn-erp.php
If you wish to join you can call them on +91 8002112654 or mail [email protected]
Best of Luck All !!!
Hi,
I am based out of mumbai and interested in sharing material cost with you.
Regards,
Ankush
Hi,
I am in pune and I have the ERP course material. Plz conact me on [email protected]
Regards,
Shailender
I am interested in this. What will be the cost for the whole course pack? And this couse pack is the Nov 2010 course pack?
Thanks
Amit
I am interested in this. What will be the cost for the whole course pack? And this couse pack is the Nov 2010 course pack? Please let me know.
Thanks
Amit
Hey ... I enquired about this classroom series. Its more expensive than the exam itself! Is there anyone who is taking these classes? Are they beneficial?
Hi all,
Just for information for all those people giving ERP this year and willing to get some sort of assistance in some or all of the chapters -
Optirisk India is organizing ERP classroom series and mock test series in three major cities - Mumbai, New Delhi, Bangalore. Here are the dates and schedule :
Mumbai :
Physical Energy market (Day One) : 3rd July
Physical Energy Market (Day Two) : 10th July
Financial Trading Instrument (Day One) : 17th July
Financial Trading Instrument (Day Two) : 31st July
Valuation and Structuring of Energy Transactions : 8th August
Risk Management in Financial Trading : 28th August
Financial Disclosure, Accounting and Compliance : 11th September
New Delhi :
Physical Energy market (Day One) : 24th July
Physical Energy Market (Day Two) : 14th August
Financial Trading Instrument (Day One) : 22nd August
Financial Trading Instrument (Day Two) : 29th August
Valuation and Structuring of Energy Transactions : 4th September
Risk Management in Financial Trading : 11th September
Financial Disclosure, Accounting and Compliance : 18th September
Bangalore :
Financial Trading Instrument (Day One) : 8th August
Financial Trading Instrument (Day Two) : 14th August
Physical Energy market (Day One) : 21st August
Physical Energy Market (Day Two) : 28th August
Valuation and Structuring of Energy Transactions : 29th August
Financial Disclosure, Accounting and Compliance : 4th September
Risk Management in Financial Trading : 18th September
Mock Test Series
Mock Test 1 : 25th September (All cities)
Mock Test 2 : 16th October (All cities)
Mock Test 3 : 30th October (All cities)
*They also provide prescribed study material for free on joining their classroom series.
You can also check it on Learning Solution:About Optirisk
If you wish to join you can call them on +91 8002112654 or mail [email protected]
Best of Luck All !!!
-----------
ERP Study Group in DELHI
Hi,
Is there anyone in Delhi studying for ERP, Nov 2010 exam ??
Hi,
Is there anybody from Mumbai appearing for GARP ERP Nov exam. I am looking for some Group Studies, to fasten the learning process.
Anyone interested please contact me on my EMail
Thanks
Piyush
Hi Hitesh,
Have sent you a Private Message. Do Reply as ASAP.
Thanks
Abhishek
Hi all,
Hope ERP preparation is going good ! I have just finished my classes for ERP from optirisk, so far looking all set, going to give mock test just to check the level of preparation. If anybody wants to give a mock test then can opt for optirisk's mock test series.
They have three mock tests starting from 9th October, then on 23rd October and the last one on 6th Nov.
They are conducting this online almost with the same pattern as GARP has - 180 questions in a day, 90 in fist half and 90 in second half.
If anybody interested they can contact Ritesh, +919771493353.
Best of Luck.
Someone is doing lots of promotion and marketing without using the sponsor option of PG. Where are the moderators ??
Hi all,
Hope ERP preparation is going good ! I have just finished my classes for ERP from optirisk, so far looking all set, going to give mock test just to check the level of preparation. If anybody wants to give a mock test then can opt for optirisk's mock test series.
They have three mock tests starting from 9th October, then on 23rd October and the last one on 6th Nov.
They are conducting this online almost with the same pattern as GARP has - 180 questions in a day, 90 in fist half and 90 in second half.
If anybody interested they can contact Ritesh, +919771493353.
Best of Luck.
???
(Someone is doing lots of promotion and marketing without using the sponsor option of PG. Where are the moderators ??)
Its not about promotion and marketing hitesh, its about helping and sharing information that can be of help to all those giving ERP exam this november. For example - you require to get on touch with a study group in New Delhi isn't it ? I can help you in this as i am connected to those people giving ERP this year both from New Delhi and Mumbai. Taking classes there at optirisk helped me in this to have good networking with the people and forming a study group. Let me know if i can help you.
Similarly, everybody wants to check their self study and preparation(who are not taking any kind of training and preparing on their own) before the exam and wants to know how the actual exam is like, the pattern, timing etc. That was the reason why i shared that information which looked like a marketing post to you.
Anyways, Best of Luck to all giving ERP this year. Thanks.
hitesh888 SaysSomeone is doing lots of promotion and marketing without using the sponsor option of PG. Where are the moderators ??
Hii ...this is siddharta... i have overall experience of more than 2 years but only about 7 months experience in energy consulting...i have a MBA(Finance) degree and a B.E (Electrical) degree....wanted to know what kind of job i am looking at after clearing the exams....what are the prospects in india and abroad ??....would also like to know where i can purchase the study material of the same....would be glad if any1 can shed sm light on the same.
Actually I couldn't pass it first time when I took it in June 2010.
For example, who produce more nuclear energy and they give choice as
Russia, france, india, US.
Four muliple choices has four of those countries in different order. I would say exam ranks 10 in terms of difficulty.
I bought the material. Let me know if anyone wants to share.
Email: telusukondi123atyahoo
Planning for June 2011
Hi..Can some one tell me where is the exam conducted in Delhi? What is the course fee in INR? What would be the expense on study material? Is it very very difficult? As I have not studied anything in ERP before...do you think it will still be possible for a newbie to clear the exam? I mean to ask as I have no experience or knowledge in this field, do people manage to clear the exam by studying for just 4-5 months.
Hey raggarwal, if you have no experience in the energy sector for minimum 2 years, you are not eligible to give the exam. Its not anyone can give the exam. There is an eligibility criteria for that. You can get all the information here at GARP - Overview . In case you require any other information feel free to mail me or send PM.
raggarwal101 SaysHi..Can some one tell me where is the exam conducted in Delhi? What is the course fee in INR? What would be the expense on study material? Is it very very difficult? As I have not studied anything in ERP before...do you think it will still be possible for a newbie to clear the exam? I mean to ask as I have no experience or knowledge in this field, do people manage to clear the exam by studying for just 4-5 months.
Hi Guys,
Joining the ERP bandwagon... Hope we can share loads of information and be of help to each other!!
@raggarwal: In Delhi, test was conducted in Rohini last time ie Nov,10 ..
Per say , it will be held in the same centre where FRM is going to be held.
Came to knwo that total of around 10 ppl were there to give the exam.
@all: Probably few may have joined Optirisk..Any comments from the previous members. Please post cmmnts quickly as the last day for discount is 30th Dec..
BTW, wen are the results due?