easy · FRM Part 2 Operational Risk
Formula-and-meaning check before application in Operational Risk.
Within Operational Risk — Model Risk Management, which statement correctly describes Independent model validation?
- central record of models, owners, uses, limitations, and status
- alternative method used to challenge a model’s outputs
- review of conceptual soundness, implementation, and performance by a party separate from development
- deterioration caused by changes in data relationships after deployment
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