Oracle offers variety of Java Certifications for all Java Editions (Java SE, Java EE and Java ME). The latest certifications are Oracle Certified Associate, Java SE 7 Programmer and Oracle Certified Professional, Java SE 7 Programmer (upgrade path).
Both these exams are in BETA stage and the price for each one is just $50 USD. The actual certification cost after beta stage will be higher than this price.
Another important about these certifications is that the beta exam will be closed on December 16, 2011. So book your exam and be the first to get certified on the new Java SE 7 platform
Read more about these certifications from EPractize Labs Certification blog.
Good luck for your preparation !!!