I hope you are well on the way in your preparations to take the Energy Risk Professional exam! If you have already solved the GARP sample exams or the full-length Practice Exam, you know that timing is essential to score well. It’s too easy to waste time reading through exam questions again and again, and before you know it, five minutes have passed. This happened to me when I prepared, and I will share with you a strategy to increase your speed when you write the examination.
Note: The ERP exam used to contain 180 questions, but as of 2014, GARP has changed to format to 140 questions spread over 8 hours total. The Practice Exam and this article have been accordingly updated to the new format.
In order to keep track of time, make sure you don’t spend more than 3 minutes and 30 seconds on each question. The morning and afternoon session are four hours each, but you will want to have at least one hour for review in each session, this will leave you with 180 minutes / 70 questions = 2:40 minutes / question in the ideal case. On some you will be faster, on others slower, so a good rule of thumb is to move on after 3:30 minutes. A good way to ensure you don’t spend more is to allocate about one minute to reading the question, and the rest of the time to solving it. I usually put my wrist watch in front of me next to the exam sheet, so I always see where I stand in terms of timing. For example: If you’re at question ten, you should not be more than 25-30 minutes into the session.
The questions are sometimes worded in a lengthy way. Make sure you quickly get the point of the question. A helper may be to quickly glance at the multiple choice answers, so you see whether you have to calculate something or if the question is qualitative. If you have to calculate VAR, make sure you quickly isolate the core components needed for the calculation and perform it as fast as possible. The mark off the answer you found to be correct and move on.
Some questions will be short, so make sure you blaze through them and thank GARP for the present. Quickly browser the answers before you start reading the question, and mark off the right answer, then move on.
There will always be the case where you simply cannot find an answer. Either the calculation does not match any of the answers, it does not make sense, or you simply have no clue. This happens to everyone, so don’t despair. Just select the most likely answer, or guess if you must.
Your speed will greatly increase if you go into the exam well rested. I therefore suggest you take off at least one day prior to the exam and relax a bit. Maybe repeat some of the key concepts in the morning before the exam, then rest in the afternoon. Also make sure you have some water with you in the exam room. IF you’re dehydrated, you will lose speed. All athletes know this, so think of yourself as a high performance athlete when you go into the ERP!
IMPORTANT: Do not leave any questions unanswered when you go through the test. Even if you don’t know the answer, just mark the most likely correct answer, then move on. Mark the questions you’re not sure about to visit later if you have time. In the afternoon session I barely finished in time, and had I left answers unchecked, I could have ended up giving away valuable points.
You will need every single point you can get in the ERP exam to pass, it’s really not an easy exam. Prepare well with the Practice Exam and the ViveraRISK Concept Checkers, keep your calm and a positive attitude during the exam, and you will be sure to perform at your best.
I wish you all the best, and I am keeping fingers crossed for you!