What is the tendency to rely too heavily on the first piece of information encountered when making decisions?

Financial Decision-Making Quiz

Quiz
•
Other
•
12th Grade
•
Hard
Dee Lewis
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Herd Mentality
Confirmation Bias
Loss Aversion
Anchoring
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to the principle of loss aversion, what do people prefer?
Acquiring gains over avoiding losses
Avoiding losses over acquiring gains
Balancing losses and gains
Ignoring both losses and gains
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the inclination to interpret new evidence as confirmation of one's existing beliefs or theories called?
Anchoring
Loss Aversion
Confirmation Bias
Herd Mentality
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the tendency to follow the actions of a larger group, often leading to irrational decision-making?
Anchoring
Loss Aversion
Herd Mentality
Confirmation Bias
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the preference for immediate rewards over larger but delayed rewards called?
Time Discounting
Availability Heuristic
Budgeting
Credit Score
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the process of creating a plan to manage income and expenses called?
Availability Heuristic
Budgeting
Time Discounting
Credit Score
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a numerical representation of an individual's creditworthiness based on credit history and other financial behavior?
Credit Score
Opportunity Cost
Interest Rate
Compound Interest
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