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FCA AI Compliance: Governing AI in Financial Services Under Existing UK Rules

Financial Crime, Fraud and Anti Money Laundering Models

Quiz: Financial Crime, Fraud and Anti Money Laundering Models

Credit Decisions, Affordability Models and Fair Treatment

Quiz: Credit Decisions, Affordability Models and Fair Treatment

Insurance Pricing Practices and Automated Underwriting

Quiz: Insurance Pricing Practices and Automated Underwriting

Explaining Model Decisions to Customers and to Supervisors

Quiz: Explaining Model Decisions to Customers and to Supervisors

The FCA AI Live Testing Service and Supervisory Engagement

Quiz: The FCA AI Live Testing Service and Supervisory Engagement

Evidence a Supervisor Will Ask For During an AI Review

Quiz: Evidence a Supervisor Will Ask For During an AI Review

Final exam: FCA AI Compliance: Governing AI in Financial Services Under Existing UK Rules

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Quiz: Evidence a Supervisor Will Ask For During an AI Review

FCA AI Compliance: Governing AI in Financial Services Under Existing UK Rules
Evidence a Supervisor Will Ask For During an AI Review
Quiz: Evidence a Supervisor Will Ask For During an AI Review

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Question 1 of 5

1. Question

Supervisors expect organisations to demonstrate that AI governance is embedded into daily operations rather than existing only as a policy document.

True
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False
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Only for high-risk AI systems
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It depends on the sector
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Incorrect / 1 Points
Question 2 of 5

2. Question

What must be included in a formal AI risk assessment according to the FCA expectations?

Only data quality checks
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Proportionality to AI system's impact and risk level
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A list of all AI models used
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The names of all data scientists involved
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Incorrect / 1 Points
Question 3 of 5

3. Question

Which of the following is NOT a required element of AI governance framework evidence?

Organisational chart or responsibility matrix for AI governance
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Minutes or records of AI governance committee meetings
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A list of all AI models used
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Procedures for AI decision-making and approval
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Correct / 1 Points

Incorrect / 1 Points
Question 4 of 5

4. Question

What must technical documentation for AI systems include regarding model performance?

Only data sources and algorithms
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Monitoring dashboards or logs for model performance
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The names of data scientists who wrote the code
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The cost of running the AI system
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Correct / 1 Points

Incorrect / 1 Points
Question 5 of 5

5. Question

Which ISO standard is mentioned as setting out requirements for an AI management system?

ISO/IEC 42001:2023
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ISO/IEC 27001:2013
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ISO/IEC 42002:2023
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ISO/IEC 27701:2019
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Correct / 1 Points

Incorrect / 1 Points

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