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Behavioral Finance Quiz 10 (20 MCQs)

Quiz Instructions

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1. Lisa continues to practice Brazilian Jiujitsu even though she hates it, because she's already spent seven years practicing it and doesn't want all that time to have gone to waste. This is an example of .....
2. Things you want to accomplish
3. People perceived as attractive can be viewed more positively and treated more favorably.
4. What is the misconception that arises from the human intuition about the overall odds of a random event in the short run?
5. The idea that items necessary to life are relatively inexpensive, but luxury items are very expensive, is known as:
6. Think back to your personal values assessment. Your top 5 values .....
7. Assume you visit a casino. The last seven draws were black and nearly all money is placed on the next draw being red. Which bias is at work?
8. SMART goals are helpful to organize your goals into an action plan. The benefits of setting quality goals, especially that involve money planning, are:
9. The original amount of money borrowed or loaned is known as the .....
10. You are stranded in the desert and are really hungry for some food (even a fruit cake you hated as a kid that you would not touch). You are magically given 2 choices:A) a brand new iPhone B) an order of Chipotle and the fruit cake.You choose option B. What basic principal of behavioral finance says option B is the correct choice at that moment?
11. An arrangement to receive cash, goods, or services now and pay for them in the future
12. People read, study a lot and apply their skills to arrive at investment decisions.BUT their actions replicate the action of others around them.Social influence has an immense power on individual judgement. *This is known as .....
13. If there is a low probability for receiving high gains, people are .....
14. This is the general message of the Bandwagon advertising technique:
15. Is a disproportionate weight in favor of or against an idea or thing, usually in a way that is closed-minded, prejudicial, or unfair
16. A heuristic is a(n) ..... used when make decisions.
17. Understanding where the markets are going and so on is one of the most important skills in Finance and Investing.
18. Review! Your employer will use the information you provide on this form to determine how much money to withhold from your paycheck for federal income tax.
19. In the desert-diamond paradox of value situation, why would you NOT select water EVERY time you were offered a choice between water and diamonds?
20. What does "utility" mean?
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