In October 2023, I successfully completed the CERP examination. Below is a summary of my preparation efforts with links to resources I used and created. Hopefully, this information will be helpful to anyone currently planning to take the exam.

ABA’s CERP Exam Online Prep Course

After having such an excellent experience with the ABA’s CRCM prep course in 2022, I didn’t hesitate to purchase the [ABA’s CERP Exam Online Prep course]https://www.aba.com/training-events/online-training/cerp-exam-online-prep). Unfortunately, this course was a significant disappointment. Unlike the CRCM course, which felt cohesive, this program used a rotating cast of instructors for different risk domains. The modules covering financial risk were particularly difficult to follow and lacked engagement. Overall, the structure felt disorganized for the $1,045 price tag. The course did include a practice exam, which was the most valuable component for gauging my readiness.

Study Notes

As I did when preparing for the CRCM exam, I created my own study notes. The process of creating and organizing my notes was a more effective study method than the online course. You can view some of my CERP study notes here.

Flash Cards

I relied heavily on a large stack of flashcards to internalize key terms, risk frameworks, and calculation rules. This method remains my go-to for drilling technical information until it becomes second nature.

The Exam

I sat for the exam at a proctored testing center. The security protocol is standard: you’ll be required to store all personal items (keys, phone, wallet) in a secure locker before entering the testing room. Much like the CRCM, the computer-based format provides your pass/fail status immediately upon completion.

Takeaway

If you are deciding whether to spend the money on the official prep course, I would suggest looking into the Comptroller’s Handbooks as a free supplement to help bridge the gaps in liquidity and market risk, which I found to be the weakest parts of the ABA’s CERP curriculum.