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?

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?

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

An insurance company uses two different AI models for policy approval, one for Group A and another for Group B. The confusion matrices for each group are as follows:Group A Confusion Matrix:True Positives: 50False Positives: 10False Negatives: 40True Negatives: 90Group B Confusion Matrix:True Positives: 30False Positives: 20False Negatives: 70True Negatives: 80What fairness technique should the company use to balance the performance between the two groups?

A generative AI provider in China is designing its service to align with Chinese regulations. What is a key obligation it must meet under the Generative AI Measures?