Study Notes: De Laurentis, Chapter 5: Validating Rating Models

De Laurentis, Chapter 5: Validating Rating Models Study Notes include 15 pages covering the following learning objectives:

* Explain the process of model validation and describe best practices for the roles of internal organizational units in the validation process
* Compare qualitative and quantitative processes to validate internal ratings, and describe elements of each process.
* Describe challenges related to data quality and explain steps that can be taken to validate a model’s data quality.
* Explain how to validate the calibration and the discriminatory power of a rating model.

After reviewing the notes, you will be able to apply what you learned with practice questions.

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