I just finished skimming through a study guide for the Project Management Institute's (PMI) Project Management Professional and Certified Associate in Project Management exams. They are certification exams for project managers. Mind you, project management differs greatly from product management, but there is some overlap.
What a scam! One of the first things the study guide states is that "you cannot rely on real-world experience" to pass the exam. You have to buy expensive study guides and/or take expensive training courses to prepare yourself for the exam. I would venture to say you could be the greatest project manager in the world and still fail the exam.
It seems that this sort of BS is typical of certifications.