AI for Bank Regulatory Reporting Quiz

Answers and explanations appear as you take the quiz.

1. Which forms do most US insured banks use to file the quarterly Call Report?
   • FR Y-14 forms only
   • FFIEC forms 031, 041 or 051 depending on size and activities
   • SEC Form 10-K
   • Basel III Pillar 3 templates
2. What does BCBS 239 set expectations for?
   • Minimum capital ratios for small banks
   • Accuracy, completeness, timeliness and governance of risk data aggregation and reporting
   • Consumer disclosures in loan applications
   • Interest rate limits on deposits
3. According to the guide, how should reported figures be produced when AI is used in regulatory reporting?
   • Generated directly by a language model from source documents
   • From deterministic, controlled calculations, with AI assisting around them
   • By averaging several machine learning predictions
   • By copying the prior quarter's figures
4. What is the purpose of lineage discovery tools in regulatory reporting?
   • To predict next quarter's loan growth
   • To map how data flows from source systems through transformations to a reported figure
   • To send reports to regulators automatically
   • To replace validation edits
5. How does AI anomaly detection go beyond standard validation edits?
   • It learns normal patterns and flags surprising values or relationships before submission
   • It removes the need to file a Call Report
   • It only checks spelling in report footnotes
   • It guarantees the report has no errors
6. When a language model helps interpret revised reporting instructions, what practice does the guide recommend?
   • Apply the model's proposed mapping changes immediately
   • Have the model cite the specific paragraph for each claim and produce reviewable diffs
   • Use the model without access to the official instructions
   • Rely on the model's summary instead of the rule text
7. Why should every AI-proposed change to a mapping be logged with the approver and effective date?
   • So the bank can reproduce any past filing exactly
   • So regulators can bill the bank for changes
   • So the model can approve its own future changes
   • So analysts no longer need to review exceptions
8. Which US supervisory guidance does the guide name as governing models used in the reporting process?
   • Regulation F
   • UCP 600
   • SR 11-7 on model risk management
   • BCBS 239 Principle 1 only