In Fig. , we compare the calculated dielectric constants and the low-frequency IR spectra of liquid water using the ML charges based on B3LYP and the exchange modified functionals, along with the experimental and TIP4P/2005 results. The computed dielectric constant increases with the exact HF exchange, following the trend of the molecular dipole in Fig. (b), whereas the intensity of the 250 cm -1 peak decreases with the exact HF exchange, following the trend of the molecular charge in Fig. . These observations further support our claim that with our point charge models, the enhancements of the dielectric constant and the hydrogen-bond stretch peak intensity predominantly arises from the polarization and CT effects, respectively. Since our ML models were trained against the QM Iterative Hirshfeld charges, the opposing trends of the polarization and CT with the exact HF exchange also suggest the practical importance of exact exchange in improving the description of the DMS, an area where density-corrected DFT may help. Among the functionals considered here, the ML model with the original B3LYP functional gives the best predictions of the dielectric constant and the low-frequency IR spectrum. properties are similar to those based on the Iterative Hirshfeld charges, except that the molecular dipole, and consequently the dielectric constant, is not sensitive to the variation of the exact HF exchange in the functional. Despite its reasonable performance, we recommend against the use of NPA charges for water as they fail to predict the trend of the water dimer dipole, computed directly from QM electron density, with respect to the exact HF exchange, as discussed in Section 7 of the SI.