SEM Cognitive Bias Quiz
Quiz
•
Business
•
11th Grade
•
Practice Problem
•
Hard
Brandon Smith
Used 4+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
What is the Anchoring Effect in cognitive bias?
Overestimating the importance of events
Relying too much on the initial piece of information
Preferring a smaller, sooner payoff
Viewing oneself as less biased than others
2.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
Which cognitive bias involves overestimating the importance and likelihood of events given the greater availability of information?
Bandwagon Effect
Availability Heuristic
Hyperbolic Discounting
Ostrich Effect
3.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
What does the Bandwagon Effect refer to in terms of cognitive bias?
Basing the strength of an argument on its believability
Uptake of beliefs and ideas increases the more they are adopted by others
Viewing oneself as less biased than others
Overestimating our ability to make accurate predictions
4.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
Which bias involves believing that future probabilities are altered by past events, when in fact they are unchanged?
Gambler's Fallacy
Clustering Illusion
Confirmation Bias
Status Quo Bias
5.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
What is the Illusion of Validity in cognitive biases?
Preferring the current state of affairs over change
Overestimating our ability to make accurate predictions
Avoiding negative financial information
Assuming a person has characteristics because they are a member of a group
6.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
Which cognitive bias involves the tendency to retroactively ascribe positive attributes to an option once it has been selected?
Post-Purchase Rationalisation
Reactive Devaluation
Endowment Effect
Stereotyping
7.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
What does the Ostrich Effect refer to in cognitive biases?
Avoiding negative financial information by pretending it doesn't exist
Erroneously overestimating the importance of small clusters
Taking higher risks when perceived safety increases
Assuming a person has characteristics because they are a member of a group
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