There are a lot of potential defects depending on many different aspects of materials, setup, position etc. Could you be a bit more specific about what you need to know?
Or is it a college question? - they are sometimes deliberately vague in the hope you'll read around the subject and learn something.
The single most encountered problem with MIG welding is lack of side wall fusion. For many years this issue excluded MIG from coded work and classed it as semi skilled welding. The improvement in equipment and especially in shielding gas mixtures have contributed to it now being a more acceptable process for other than garden gate jobs. It still has the potential to be a problem but in the right hands using the right type of wire with the correct gas it has been used for welding sub sea pipelines and probably the majority of all structural work (such as wembley, emirates etc etc)