Mental Shortcuts and Cognitive Biases Quiz

What is the primary topic of the presentation?. Financial modeling. Mental shortcuts and cognitive biases in decision-making. Economic indicators. Marketing strategies.

What does the word 'decision' originate from?. German 'Entscheidung'. Latin 'decisio'. Greek 'krisis'. English 'choice'.

What does 'decisio' mean in Latin?. Choice. Process. Resolution. Consideration.

Which of the following is NOT a stage in the decision-making process, according to the presentation?. Defining the problem. Specification of requirements. Marketing analysis. Goal setting.

In the decision-making process, what should be identified in the first stage, 'defining the problem'?. The best solution. The root causes. The requirements. The alternatives.

What do 'requirements' explain in the decision-making process?. What needs to be done to solve the problem. How to define the problem. The best decision-making tools. The desired values.

What do 'objectives' represent in the decision-making process?. Specific actions. Desired values. Possible alternatives. Decision-making tools.

What is primarily the basis for generating alternatives?. Meeting requirements. Intuition and creative thinking. Defining criteria. Goal setting.

What is the purpose of defining criteria?. To distinguish alternatives. To generate alternatives. To choose decision-making tools. To set goals.

What is the key to choosing the right decision-making tool?. The cost-benefit analysis. The specific decision problem. The evaluation of alternatives. The fulfillment of the selection criteria.

What is the purpose of the evaluation of alternatives?. To choose the best criteria. To define the problem. To rank alternatives. To generate alternatives.

What must be checked against in the 'checking the correctness of solutions' stage?. Requirements and purpose of the decision problem. The decision-making tools. The alternatives. The root causes of the problem.

When does a decision become a reality?. When it is planned. When it is analyzed. When it is implemented. When it is evaluated.

Decision-making is related to the issue of what?. Financial systems. Cognitive systems. Economic systems. Marketing strategies.

The dual cognitive system suggests that human cognition can be categorized as a result of what?. One type of mental processing. Two types of mental processing. Three types of mental processing. Four types of mental processing.

Which system is described as 'fast, reactive, automatic, intuitive, heuristic, associative, and unconscious'?. System 1. System 2. Higher mental processes. Two information processing systems.

Which system is described as 'complete, controlled, reflective, serial, rule-based, demanding, and conscious'?. System 1. System 2. Lower mental processes. Unconscious.

What is System 1 also known as?. Slow thinking. Effortless. Fast thinking. Reflective.

What is System 2 also known as?. Fast thinking. Effortless. Slow thinking. Intuitive.

According to the presentation, what happens when System 1 and System 2 conflict?. We make correct decisions. We fall into traps of thinking. We make no decisions. We think slowly.

What is the meaning of heuristics?. Complex methods of inference. Simplified methods of inference. Methods that eliminate biases. Random decision-making.

What do heuristics of affect refer to when making decisions?. Data and analysis. Emotions, experiences, and instinctive beliefs. Logical reasoning. Objective facts.

What do heuristics help to reduce?. The number of possible solutions. The complexity of the problem. The number of questions. The time to answer a question.

According to the presentation, what do people rely on when solving problems?. Slow and complex methods. Fast and economical heuristics. Ignoring information. Very long reasoning methods.

The availability heuristic is based on what?. Difficult facts. Complex data. Easily recalled impressions. Unfamiliar images.