Free Practice GARP RAI Exam Questions 2025

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

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

A justice system uses an AI model to predict failure-to-appear (FTA) rates in court. To ensure fairness without explicitly using protected group data, what could be a potential unintended outcome?

During an NLS optimization, the analyst uses a gradient descent algorithm to update model parameters. If the improvement in the objective function falls below a certain threshold, the optimization process stops. What is the purpose of this threshold in NLS optimization?

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?