GARP ERP Exam Preparation

GARP ERP Exam Preparation
Single User Price: $895.00


GARP ERP Exam Preparation is based on the requirements Energy Risk Professional (ERP®) certification. Please review our program syllabus below.

What You Will Learn

  • Introduction – What we will cover, how we will cover it and why it will help
  • Physical Energy Markets:
    • Crude Oil & Refined Products: Terminology; Physical properties (Grades & Benchmarks); Exploration & Production; Refining Processes & Operations; Refined Products (plus ethanol); Transportation; Storage
    • Natural Gas: Terminology; Physical properties (compare/contrast with Crude Oil); Exploration & Production; Fractionation; Transportation; Storage; Hubs; City Gates, locational basis and basis trades; Uses; LNG
    • Coal: Terminology; Physical properties (Grades); Mining; Uses; Emissions
    • Electricity: Terminology; Generation (Fuel Sources); Transmission/Location; Reliability/Storage issues; Emissions
    • Alternative Energy: Current situation & future outlook – Fuels: CTL; Oil Sands; Wind; Geothermal; Solar; Emissions Trading: SOX, NOX, Carbon
  • Financial Trading Instruments:
    • Terminology & Why used: Derivatives vs. Cash; Basis
    • Exchange-traded derivatives: Futures, Options on Futures (calls & puts) & EFPs
    • Introduction to OTC derivatives: bilateral vs. cleared; Forwards, Swaps & Swaptions, Options
    • Energy-specific linear OTC derivatives: Participation Swaps; Basis Swaps; Swing Swaps
    • Options: Terminology; Valuation Inputs; Greeks; Valuation Models; Spread Strategies; Exotic Optionality; Volatility Issues; Energy-specific optionality & valuation issues
  • Valuation and Structure of Energy Transactions
    • Refinery economics
    • Pipeline economics; storage economics (including storage trades & Forward Price Curves)
    • Energy Spread Trading economics (Spark Spreads; Crack Spreads)
    • Development of an LNG Project
    • Electricity Trading & Electricity Trading Models
  • Risk Management in Financial Trading
    • General Risk Management Terminology
    • Types of Risk: Price, Credit, Operational, Legal/Regulatory
    • Types of Price Risk: Outright, Basis, Optionality
    • Price Risk Modeling Issues: Types of Hedges; Skewness; Kurtosis; VaR Models & Stress Testing
  • Financial Disclosure, Accounting and Compliance in the Energy Industry
    • General Disclosure, Accounting & Compliance Terminology
    • SEC regulations, FASB/GAAP & SOX
    • FERC, PUC & Environmental Compliance - Kyoto Protocol
    • Exchange Trading Rules & Regulations
  • Summary – How to pass the GARP ERP Exam & Pre-test

Who Should Attend

This program is offered for professionals who desire to develop their knowledge of energy risk management and energy trading, and those planning to obtain the ERP® certification organized by the GARP®.

Class Details

Industry Segment
Natural Gas
Course Level
Competency Path
Natural Gas
Course Type
Course Times
Day 1: 8:00am–4:00pm