Free GARP RAI Exam Questions

A bank is developing its model risk governance framework to address ML/AI models. What foundational approach should the bank take?

A social media platform’s content recommendation algorithm repeatedly suggests similar content to users based on previous interactions, creating a feedback loop that reinforces certain perspectives. What type of algorithmic bias does this illustrate?

A financial institution is implementing an AI model that uses proxies for loan approval decisions. Which of the following is a potential risk associated with using proxies?

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

During training, an RNN model used for forecasting exhibits extremely high gradients at certain steps, causing instability in learning. Which of the following best describes this problem?