Free AIGP Exam Braindumps (page: 2)

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Which of the following is NOT a common type of machine learning?

  1. Deep learning.
  2. Cognitive learning.
  3. Unsupervised learning.
  4. Reinforcement learning.

Answer(s): B

Explanation:

The common types of machine learning include supervised learning, unsupervised learning, reinforcement learning, and deep learning. Cognitive learning is not a type of machine learning; rather, it is a term often associated with the broader field of cognitive science and psychology.


Reference:

AIGP BODY OF KNOWLEDGE and standard AI/ML literature.



CASE STUDY
Please use the following answer the next question:
ABC Corp, is a leading insurance provider offering a range of coverage options to individuals. ABC has decided to utilize artificial intelligence to streamline and improve its customer acquisition and underwriting process, including the accuracy and efficiency of pricing policies. ABC has engaged a cloud provider to utilize and fine-tune its pre-trained, general purpose large language model ("LLM"). In particular, ABC intends to use its historical customer data--including applications, policies, and claims--and proprietary pricing and risk strategies to provide an initial qualification assessment of potential customers, which would then be routed t

  1. human underwriter for final review.
    ABC and the cloud provider have completed training and testing the LLM, performed a readiness assessment, and made the decision to deploy the LLM into production. ABC has designated an internal compliance team to monitor the model during the first month, specifically to evaluate the accuracy, fairness, and reliability of its output. After the first month in production, ABC realizes that the LLM declines a higher percentage of women's loan applications due primarily to women historically receiving lower salaries than men.
    The best approach to enable a customer who wants information on the Al model's parameters for underwriting purposes is to provide?
  2. A transparency notice.
  3. An opt-out mechanism.
  4. Detailed terms of service.
  5. Customer service support.

Answer(s): A

Explanation:

The best approach to enable a customer who wants information on the AI model's parameters for underwriting purposes is to provide a transparency notice. This notice should explain the nature of the AI system, how it uses customer data, and the decision-making process it follows. Providing a transparency notice is crucial for maintaining trust and compliance with regulatory requirements regarding the transparency and accountability of AI systems.


Reference:

According to the AIGP Body of Knowledge, transparency in AI systems is essential to ensure that stakeholders, including customers, understand how their data is being used and how decisions are made. This aligns with ethical principles of AI governance, ensuring that customers are informed and can make knowledgeable decisions regarding their interactions with AI systems.



CASE STUDY
Please use the following answer the next question:
ABC Corp, is a leading insurance provider offering a range of coverage options to individuals. ABC has decided to utilize artificial intelligence to streamline and improve its customer acquisition and underwriting process, including the accuracy and efficiency of pricing policies. ABC has engaged a cloud provider to utilize and fine-tune its pre-trained, general purpose large language model ("LLM"). In particular, ABC intends to use its historical customer data--including applications, policies, and claims--and proprietary pricing and risk strategies to provide an initial qualification assessment of potential customers, which would then be routed a human underwriter for final review.
ABC and the cloud provider have completed training and testing the LLM, performed a readiness assessment, and made the decision to deploy the LLM into production. ABC has designated an internal compliance team to monitor the model during the first month, specifically to evaluate the accuracy, fairness, and reliability of its output. After the first month in production, ABC realizes that the LLM declines a higher percentage of women's loan applications due primarily to women historically receiving lower salaries than men.
Which of the following is the most important reason to train the underwriters on the model prior to deployment?

  1. To provide a reminder of a right appeal.
  2. To solicit on-going feedback on model performance.
  3. To apply their own judgment to the initial assessment.
  4. To ensure they provide transparency applicants on the model.

Answer(s): C

Explanation:

Training underwriters on the model prior to deployment is crucial so they can apply their own judgment to the initial assessment.
While AI models can streamline the process, human judgment is still essential to catch nuances that the model might miss or to account for any biases or errors in the model's decision-making process.


Reference:

The AIGP Body of Knowledge emphasizes the importance of human oversight in AI systems, particularly in high-stakes areas such as underwriting and loan approvals. Human underwriters can provide a critical review and ensure that the model's assessments are accurate and fair, integrating their expertise and understanding of complex cases.



CASE STUDY
Please use the following answer the next question:
ABC Corp, is a leading insurance provider offering a range of coverage options to individuals. ABC has decided to utilize artificial intelligence to streamline and improve its customer acquisition and underwriting process, including the accuracy and efficiency of pricing policies. ABC has engaged a cloud provider to utilize and fine-tune its pre-trained, general purpose large language model ("LLM"). In particular, ABC intends to use its historical customer data--including applications, policies, and claims--and proprietary pricing and risk strategies to provide an initial qualification assessment of potential customers, which would then be routed .. human underwriter for final review.
ABC and the cloud provider have completed training and testing the LLM, performed a readiness assessment, and made the decision to deploy the LLM into production. ABC has designated an internal compliance team to monitor the model during the first month, specifically to evaluate the accuracy, fairness, and reliability of its output. After the first month in production, ABC realizes that the LLM declines a higher percentage of women's loan applications due primarily to women historically receiving lower salaries than men.
During the first month when ABC monitors the model for bias, it is most important to?

  1. Continue disparity testing.
  2. Analyze the quality of the training and testing data.
  3. Compare the results to human decisions prior to deployment.
  4. Seek approval from management for any changes to the model.

Answer(s): A

Explanation:

During the first month of monitoring the model for bias, it is most important to continue disparity testing. Disparity testing involves regularly evaluating the model's decisions to identify and address any biases, ensuring that the model operates fairly across different demographic groups.


Reference:

Regular disparity testing is highlighted in the AIGP Body of Knowledge as a critical practice for maintaining the fairness and reliability of AI models. By continuously monitoring for and addressing disparities, organizations can ensure their AI systems remain compliant with ethical and legal standards, and mitigate any unintended biases that may arise in production.



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Post your Comments and Discuss IAPP AIGP exam with other Community members:

g commented on July 12, 2024
good questions so far
Anonymous
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g commented on July 12, 2024
good useful questions
Anonymous
upvote

Shifa S commented on July 04, 2024
Good set of questions
INDIA
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