FAMMA: A Benchmark for Financial Domain Multilingual Multimodal Question Answering

In this paper, we introduce FAMMA, an open-source benchmark for underlinefinunderlineancial underlinemultilingual underlinemultimodal question underlineanswering (QA). Our benchmark aims to evaluate the abilities of large language models (LLMs) in answering complex reasoning questions that require advanced financial knowledge. The benchmark has two versions: FAMMA-Basic consists of 1,945 questions extracted from university textbooks and exams, along with human-annotated answers and rationales; FAMMA-LivePro consists of 103 novel questions created by human domain experts, with answers and rationales held out from the public for a contamination-free evaluation. These questions cover advanced knowledge of 8 major subfields in finance (e.g., corporate finance, derivatives, and portfolio management). Some are in Chinese or French, while a majority of them are in English. Each question has some non-text data such as charts, diagrams, or tables. Our experiments reveal that FAMMA poses a significant challenge on LLMs, including reasoning models such as GPT-o1 and DeepSeek-R1. Additionally, we curated 1,270 reasoning trajectories of DeepSeek-R1 on the FAMMA-Basic data, and fine-tuned a series of open-source Qwen models using this reasoning data. We found that training a model on these reasoning trajectories can significantly improve its performance on FAMMA-LivePro. We released our leaderboard, data, code, and trained models at https://famma-bench.github.io/famma/.