venture of iit bombay vjti alumni for the specified data type valueerror raised when the built-in function for data type has the valid type of argumentsbut the arguments have invalid values specified runtimeerror raised when generated error does not fall into any category notimplementederror raised when an abstract method that needs to be implemented in an inherited class is not actually implemented assertions in python an assertion is sanity-check that you can turn on or turn off when you are done with your testing of the program