Task Statement 5.2: Recognize Governance and Compliance Regulations for AI Systems. AIF-C01 Practice Questions (Page 5)

Questions 21–25

1. 21application · medium

   A company must report its AI system's compliance status to regulators annually. The report must include information about model performance, data handling, and risk mitigation. Which reporting practice is most appropriate?

   • ASubmit the same report every year without updates to save time and resources.
   • BCreate a standardized compliance report template that is updated with current data each year.
   • CReport only the positive aspects of the AI system's performance to present the company in a favorable light.
   • DWrite a new report from scratch each year to reflect the latest developments.
   Reveal Solution Discussion Select an answer first
2. 22application · medium

   A research institute uses AI to analyze survey data. The data includes personal information from participants who consented to research use. The institute must ensure data quality and comply with data protection regulations. Which data governance practice is essential?

   • AAnonymize all data immediately after collection to avoid privacy issues, even if it reduces research value.
   • BStore all data indefinitely to allow for future research without additional consent.
   • CDocument the data collection process, including consent forms, and maintain data lineage.
   • DShare data with other researchers without restrictions to promote scientific collaboration.
   Reveal Solution Discussion Select an answer first
4. 23application · medium

   An AI system used by an insurance company must be audited annually by an external regulator. The audit requires evidence of the model's development process, data sources, and decision-making criteria. Which documentation set should the company prepare?

   • AModel cards, data sheets, and a detailed audit trail of model versions and approvals.
   • BA single summary report that lists the model's accuracy and the names of the development team.
   • CMarketing materials that describe the model's benefits and customer satisfaction metrics.
   • DOnly the final model's source code and a list of hyperparameters used.
   Reveal Solution Discussion Select an answer first
5. 24foundation · easy

   Which of the following is a key step in AI risk management?

   • AConducting a risk assessment to identify potential harms
   • BDeploying the model without testing to save time
   • CRemoving all human oversight
   • DIgnoring risks after deployment
   Reveal Solution Discussion Select an answer first
6. 25expert · medium

   A company is developing an AI system for hiring. The company wants to adopt a governance framework that ensures fairness, transparency, and accountability, but it also needs to move quickly to market. Which approach best balances governance and speed?

   • AAdopt a comprehensive governance framework that requires extensive documentation and multiple approval layers for every change.
   • BImplement a lightweight governance process that includes mandatory bias checks and documentation, but allows for rapid iteration.
   • CSkip governance processes initially and add them later after the system is launched.
   • DRely on the development team's judgment to ensure fairness and transparency without formal processes.
   Reveal Solution Discussion Select an answer first