AIGP-M1 – AllNet Law

This multiple choice assessment focuses on the AIGP body of knowledge for Module 1 - AI Foundations.

Format: Multiple Choice

The result will be provided immediately, with details on all questions.

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1) Which of the following statements best describes the core definition of Artificial Intelligence (AI)?

A. AI is a specific software program designed exclusively for complex mathematical calculations and data processing.

B. AI refers to any technology capable of full human cognitive abilities, including self-awareness and emotional intelligence.

C. AI is a field of computer science focused on creating machines that can simulate intelligent behavior in computers, often performing tasks that typically require human intelligence, such as learning, reasoning, and problem-solving.

D. AI is strictly defined as systems that use a rule-based approach to decision making, without involving machine learning or statistical models.

2) The OECD’s Ethical AI Governance Framework is a self-regulation model that proposes to prevent societal harms by:

A. Establishing explainability criteria to ethically source and use data to train AI systems

B. Defining ethical requirements specific to each industry sector and high-risk AI domain.

C. Focusing on ethical AI technical design and post-deployment monitoring

D. Balancing AI innovation with ethical considerations.

3) A financial institution is developing an AI system to identify fraudulent credit card transactions. The system is designed to perform a specific, predefined task based on historical transaction data and is not intended for any other cognitive functions or broad decision-making beyond fraud detection. This AI is an example of:

A. Artificial Narrow Intelligence (ANI)

B. Broad Artificial Intelligence (BAI)

C. Artificial general intelligence (AGI)

D. Artificial super intelligence (ASI)

4) Which of the following use cases would be best served by a non-AI solution?

A. A non-profit wants to develop a social media presence.

B. An e-commerce provider wants to make personalized recommendations.

C. A business analyst wants to forecast future cost overruns and underruns.

D. A customer service agency wants automate answers to common questions.

5) Of the below organizational stakeholders, with whom should you prioritize meeting to determine the best way to approach risk management and build the Al governance program?

Privacy and security experts.

Audit and assurance experts.

The head of market research.

The human resources business partner.

6) The manager of a call center decides to use an Al system to record and conduct sentiment analysis on interactions between customers and call center agents. Prior to using this data to evaluate the performance of the agents, what step should be implemented to minimize error in the evaluations?

A security review of the Al system.

A manual review of the recordings.

An estimate of call rates to the center.

A retention policy for aggregate reports.

7) A financial institution aims to develop a model for detecting fraudulent credit card transactions. It possesses a history of transaction data in which instances of fraud and non-fraud are clearly labeled and explicitly identified. What is the appropriate machine learning technique the financial institution should adopt?

A. Supervised.

B. Unsupervised.

C. Reinforcement.

D. Semi-supervised.

8) A company needs a customizable sales forecasting model that avoids vendor lock-in. What is the best model type for this purpose?

A. A free large language model.

B. A classic machine learning model.

C. A proprietary generative AI model.

D. A subscription-based, multimodal model.

9) Which model is best for efficiency and agility, and tailored for lower-resource settings?

Supervised learning model.

Multimodal model.

Small language model.

Generative language model.

10) "A UK mortgage lender is using a chatbot, originally for an airline's flight bookings, to collect customer information. The chatbot needs to generate up to 3 loan offers based on the lender's frequently changing products and pricing. Which is the best option for generating these offers?"

A. Retrieval-Augmented Generation.

B. Multimodal Generative AI.

C. Expert System.

D. Quantum computing