NIST AI RMF Alignment CRAGE Practice Questions (Page 7)

Questions 31–35

1. 31foundation · easy

   What is the primary purpose of the Manage function in the NIST AI RMF?

   • ATo measure the likelihood and impact of risks using metrics
   • BTo prioritize, respond to, and communicate AI risks
   • CTo establish governance policies and assign roles
   • DTo identify the context and potential impacts of AI use cases
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2. 32foundation · easy

   Which activity is a key component of the Govern function in the NIST AI RMF?

   • ADeploying monitoring tools to track AI system performance
   • BDocumenting AI system use cases and stakeholders
   • CSelecting risk response options and implementing them
   • DAssigning clear roles and responsibilities for AI risk management
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4. 33expert · hard

   A company has identified multiple AI risks, including a high-likelihood, low-impact risk and a low-likelihood, high-impact risk. The company has limited resources to address both. Using the NIST AI RMF Manage function, what is the most appropriate approach?

   • APrioritize risks based on a combination of likelihood and impact, considering the organization's risk appetite, and allocate resources to the highest-priority risks first.
   • BAlways address the high-impact risk first, regardless of likelihood, because impact is more important.
   • CDivide resources equally between the two risks to ensure both are addressed.
   • DAddress the high-likelihood risk first, because it is more certain to occur.
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5. 34foundation · easy

   Which activity is part of the Manage function in the NIST AI RMF?

   • AIdentifying the stakeholders affected by the AI system
   • BDeveloping metrics to evaluate AI system performance
   • CDefining the organization's risk tolerance
   • DSelecting and implementing risk response strategies
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6. 35application · medium

   A bank is using the NIST AI RMF to assess risks of an AI-based loan approval system. The risk team has identified potential bias against certain demographic groups. Which measurement approach would best align with the Measure function's guidance?

   • AWait for regulatory guidance before measuring bias, to ensure the methods are compliant.
   • BAsk the development team to self-certify that the model is unbiased without additional testing.
   • CCalculate statistical parity metrics across demographic groups and also conduct structured interviews with loan officers to understand operational context.
   • DUse only the model's overall accuracy as the sole risk metric because it is the most widely understood.
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