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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. The author points out in Chapter 31 that professional golfers putt more successfully when doing what?
(a) Avoiding a bogey rather than trying to achieve a birdie.
(b) Avoiding a birdie rather than trying to achieve a bogey.
(c) Trying to achieve a birdie while ignoring the bogey.
(d) Trying to achieve a birdie while avoiding a bogey.

2. Who are the authors of Built to Last?
(a) Keith Stanovich and Richard West.
(b) Christopher Chabris and Daniel Simons.
(c) Jim Collins and Jerry I. Porras.
(d) Baruch Fischhoff and Gary Klein.

3. In one example provided by the author in Chapter 31, he establishes two sports fans going to a game while facing a blizzard. One bought his ticket and the other one got his for free from a friend. The author asserts that the fan who paid is more likely to drive. What provides the explanation for this assertion?
(a) An anchoring effect.
(b) Narrative fallacy.
(c) The availability cascade.
(d) Mental accounting.

4. According to the author in Chapter 26, "In bad choices, where a sure loss is compared to a larger loss that is merely probable," what is the result (552)?
(a) "Loss aversion causes narrative fallacies."
(b) "Loss aversion causes extremely risk-averse choices."
(c) "Diminishing sensitivity causes risk seeking."
(d) "Risk seeking behavior causes extremely loss aversive choices."

5. In what year does the author describe visiting a Wall Street firm with Amost Tversky and Richard Thaler?
(a) 1999.
(b) 1965.
(c) 1975.
(d) 1984.

6. In the author's description of the cold-pressor experiment, how long were the trials separated?
(a) Twenty minutes.
(b) Ten minutes.
(c) Two minutes.
(d) Seven minutes.

7. Who proved mathematically that attempts to explain loss aversion by the utility of wealth are doomed to fail?
(a) Richard Thaler.
(b) Bruno Frey.
(c) Matthew Rabin.
(d) John Gottman.

8. Who is the author of Introduction to the Principles of Morals and Legislation?
(a) Jeremy Bentham.
(b) John List.
(c) Baruch Fischhoff.
(d) Shane Frederick.

9. Who was the director of the CIA when intelligence learned that al-Qaeda may be planning a major attack on the U.S.?
(a) George Tenet.
(b) Malcolm Gladwell.
(c) Baruch Fischhoff.
(d) Christopher Chabris.

10. What term does the author apply to the idea that once you have accepted a theory and used it as a tool in your thinking, it is extremely difficult to notice its flaws?
(a) The availability cascade.
(b) An anchoring effect.
(c) Theory-induced blindness.
(d) Narrative fallacy.

11. How many bus bombings occurred in Israel between December 2001 and September 2004?
(a) 9.
(b) 12.
(c) 23.
(d) 16.

12. What is the title of the essay that Kahneman and Tversky wrote on the study of gambles?
(a) "Belief in the Law of Small Numbers."
(b) "Prospect Theory: An Analysis of Decision under Risk."
(c) "The Perception of Causality."
(d) "Introduction to Economics and Psychology."

13. In Chapter 31, the author posits that the main motivators of money-seeking individuals (aside for the very poor) are what?
(a) Power and greed.
(b) Self-regard and achievement.
(c) Earning more money.
(d) Support and protection.

14. What label is given to the documented research showing a massive preference for selling winners rather than losers?
(a) Loss aversion.
(b) Narrative fallacy.
(c) Endowment effect.
(d) Disposition effect.

15. In discussing vacations, the author presents the assertion that tourism is about what?
(a) Helping people construct stories and collect memories.
(b) Helping people create a world of fallacies.
(c) Demonstrating commercialism for economic gain.
(d) Helping people erase memories of their home lives.

Short Answer Questions

1. The author offers a scenario in which a subject purchases a $200 concert ticket to see their favorite band. They find that others are offering $3,000 for the ticket, but they do not sell it. What is this an example of?

2. Who designed the study along with Kahneman that involves two patients undergoing a painful colonoscopy?

3. Where was John von Neumann originally from?

4. The author notes in Chapter 36 that "Caring for people often takes the form of concern for the quality of their stories, not for" what (744)?

5. Whose study on duration neglect and the peak-end rule involved a story of Jen, who died instantly in an automobile accident?

(see the answer keys)

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