Free GARP RAI Exam Questions

Become GARP Certified with updated RAI exam questions and correct answers

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Total 330 Questions | Updated On: Apr 03, 2026
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Question 1

Which term best describes a dataset that includes a mix of organized, structured financial data and unstructured text data from customer reviews?


Answer: C
Question 2

An investment firm is setting up its model risk management framework. Who is primarily responsible for approving or rejecting models based on validation results?


Answer: C
Question 3

While using Naïve Bayes for text classification, a bank wants to classify customer feedback as “Good” or “Bad.” How does the model handle the probability of classifying feedback with words it hasn’t encountered?


Answer: D
Question 4

Which term best describes a dataset that includes a mix of organized, structured financial data and unstructured text data from customer reviews?


Answer: C
Question 5

A financial institution is creating a model inventory. Which of the following should be included to ensure comprehensive governance?


Answer: D
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Total 330 Questions | Updated On: Apr 03, 2026
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