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

In an effort to understand why certain loan applications were denied, a bank deploys LIME (local interpretable model-agnostic explanations). What is the primary advantage of using LIME?

A : LIME trains a new model for each decision made by the AI

B : LIME provides an approximate explanation of a complex model’s behavior in a local context

C : LIME permanently alters the original model to make it interpretable

D : LIME identifies the most accurate model among several candidates

Answer: B

Question 2

A game developer uses a multi-arm bandit model to recommend different in-game offers to players. The model tracks which offers players respond to and adjusts future recommendations accordingly. In MAB terms, what is the purpose of the "policy" in this context?

A : To measure player engagement levels

B : To maximize expected future rewards by recommending the best offers

C : To randomly assign offers to players without any learning

D : To ensure a fixed sequence of offers is presented to each player

Answer: B

Question 3

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

A : Create an entirely new framework specific to AI/ML.

B : Build upon its existing model risk framework while adapting to new challenges from AI/ML.

C : Exclude traditional models from the risk framework.

D : Focus solely on AI/ML ethical aspects without considering statistical issues.

Answer: B

Question 4

You are given the following feature vector and statistical parameters:Feature Vector: [1, 3.6, 9, 10]Mean: 5Variance: 2.89What is the standardized feature vector?

A : [−2.35,−0.82, 2.35, 2.94]

B : [−2.34,−0.81, 1.81, 1.97]

C : [−1.81,−0.81, 2.34, 2.76]

D : [−2.34,−0.81, 2.34, 3.76]

Answer: A

Question 5

A tech firm is developing a model to predict credit risk and wants to reduce testing bias while still evaluating performance. Which approach should it use?

A : Conduct black-box testing to assess functionality without internal bias.

B : Focus solely on white-box testing for thorough code analysis.

C : Rely on artificial test cases for full test coverage.

D : Avoid testing until after model deployment to prevent interruptions.

Answer: A

Page: 1 / 66

Total 330 Questions | Updated On: Apr 03, 2026

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