Master Cognitive Biases: Improve Your Decision-Making Skills

Question 1

How do cognitive biases differ from logical fallacies in their impact on our thinking?

Accepted Answer

Cognitive biases influence our choices, while logical fallacies affect our reasoning.

Answer

Cognitive biases are unconscious errors, while logical fallacies are deliberate mistakes.

Answer

Cognitive biases affect individuals, while logical fallacies apply to everyone.

Answer

Cognitive biases are always irrational, while logical fallacies can be rational.

Question 2

Which of the following is NOT considered a cognitive bias?

Accepted Answer

Logical fallacies

Answer

Confirmation bias

Answer

Availability bias

Answer

Motivated reasoning

Question 3

Seeking information that supports our current beliefs is known as:

Accepted Answer

Confirmation bias

Answer

Hindsight bias

Answer

Framing effect

Answer

Anchoring bias

Question 4

Overestimating the likelihood of events that are easily remembered is referred to as:

Accepted Answer

Availability bias

Answer

Salience bias

Answer

Representativeness bias

Answer

Pessimism bias

Question 5

Making decisions based on an initial value or reference point is known as:

Accepted Answer

Anchoring bias

Answer

Framing effect

Answer

Cognitive dissonance

Answer

Hindsight bias

Question 6

Which approach is most effective in minimizing the influence of cognitive biases on decision-making?

Accepted Answer

Employing bias mitigation strategies

Answer

Eliminating biases completely

Answer

Trusting solely in instincts

Question 7

To minimize the impact of cognitive biases on our decisions, which strategy is most effective?

Accepted Answer

Self-reflection and awareness

Answer

Avoiding situations that trigger biases

Answer

Seeking external validation

Answer

Ignoring biases completely

Question 8

How do cognitive biases influence decision-making in society?

Accepted Answer

They can impair decision-making, affecting individuals, organizations, and society as a whole.

Answer

They have no significant societal impact.

Answer

They can enhance decision-making and societal advancement.

Question 9

To what extent do you believe cognitive biases can be eliminated from human decision-making? Explain your reasoning.

Accepted Answer

Cognitive biases are an inherent part of human decision-making and cannot be fully eliminated.

Answer

Cognitive biases can be entirely eliminated through education and training.

Answer

Cognitive biases only impact specific decision-making contexts and have no significant influence on general decision-making.

Question 10

Which of the following best describes a cognitive bias?

Accepted Answer

A systematic error in thinking that can influence our decision-making

Answer

A logical and rational approach to decision-making

Answer

A type of mental illness

Answer

A harmless quirk in our thinking

Question 11

Confirmation bias refers to the tendency to:

Accepted Answer

Seek out information that confirms our existing beliefs and ignore information that contradicts them

Answer

Objectively evaluate all available information before making a decision

Answer

Make decisions based solely on our emotions

Answer

Always expect the worst possible outcome

Question 12

Which of the following is an example of hindsight bias?

Accepted Answer

Thinking that we could have predicted a surprising outcome after it has already occurred

Answer

Making a decision based on incomplete information

Answer

Overestimating the importance of a single piece of evidence

Answer

Ignoring the role of chance in events

Question 13

Regression to the mean refers to the phenomenon where:

Accepted Answer

Extreme outcomes are followed by more moderate outcomes

Answer

Moderate outcomes are followed by more extreme outcomes

Answer

Outcomes become more predictable over time

Answer

Random events become less random over time

Question 14

Overcoming cognitive biases requires:

Accepted Answer

Self-awareness and critical thinking

Answer

Eliminating emotions from decision-making

Answer

Following a rigid set of rules

Answer

Consulting an expert for every decision

Question 15

Which of the following is a key skill for making rational decisions despite cognitive biases?

Accepted Answer

Metacognition

Answer

Emotional intelligence

Answer

Risk-taking

Answer

Persuasion

Question 16

Which of the following is NOT a type of cognitive bias?

Accepted Answer

Logical reasoning

Answer

Confirmation bias

Answer

Hindsight bias

Answer

Availability heuristic

Question 17

The tendency to seek out information that confirms our existing beliefs is known as:

Accepted Answer

Confirmation bias

Answer

Overconfidence bias

Answer

Framing effect

Answer

Availability heuristic

Question 18

The tendency to believe that we would have predicted an event after it has already happened is known as:

Accepted Answer

Hindsight bias

Answer

Illusion of control bias

Answer

Halo effect

Answer

Framing effect

Question 19

The tendency to overestimate our own abilities and knowledge is known as:

Accepted Answer

Overconfidence bias

Answer

Self-serving bias

Answer

Illusion of control bias

Answer

Halo effect

Question 20

Which of the following is NOT a reason why cognitive biases can be harmful?

Accepted Answer

They can help us to make more efficient decisions.

Answer

They can lead us to make poor financial decisions.

Answer

They can hinder our ability to evaluate information objectively.

Answer

They can make us less tolerant of others.

Question 21

The tendency to judge someone based on our overall impression of them, rather than their specific actions, is known as:

Accepted Answer

Halo effect

Answer

Stereotyping

Answer

Fundamental attribution error

Answer

Confirmation bias

Question 22

The tendency to give more weight to evidence that is presented first is known as:

Accepted Answer

Primacy effect

Answer

Recency effect

Answer

Framing effect

Answer

Anchoring effect

Question 23

Confirmation bias refers to our tendency to:

Accepted Answer

Seek out information that supports our existing beliefs

Answer

Ignore information that contradicts our existing beliefs

Answer

Objectively evaluate all available information

Answer

Change our beliefs based on new evidence

Question 24

Which of the following is an example of hindsight bias?

Accepted Answer

Believing that you knew an event would happen after it has already occurred

Answer

Overestimating the probability of an event occurring

Answer

Ignoring information that contradicts our existing beliefs

Answer

Changing our beliefs based on new evidence

Question 25

The illusion of control refers to our tendency to:

Accepted Answer

Believe that we have more control over events than we actually do

Answer

Overestimate the probability of events occurring

Answer

Ignore information that contradicts our existing beliefs

Answer

Change our beliefs based on new evidence

Question 26

Which of the following is the odd one out from the list of cognitive biases?

Accepted Answer

Linear Regression

Answer

Confirmation Bias

Answer

Availability Heuristic

Answer

Anchoring Bias

Question 27

Confirmation Bias refers to our tendency to:

Accepted Answer

Seek information that confirms our existing beliefs.

Answer

Ignore information that contradicts our existing beliefs.

Answer

Make decisions based on objective data.

Answer

Consider all perspectives equally.

Question 28

An example of the Availability Heuristic is:

Accepted Answer

Assuming that something is more likely to happen because we can easily recall instances of it.

Answer

Using past experiences to make predictions about future events.

Answer

Reliance on expert opinions.

Answer

Considering all possible outcomes before making a decision.

Question 29

How do cognitive biases impact our decision-making?

Accepted Answer

They may lead us to make illogical choices.

Answer

They help us to make quick and efficient decisions.

Answer

They have no significant impact on our decision-making.

Answer

They improve our ability to predict the future.

Question 30

Cognitive biases:

Accepted Answer

Are learned and can be modified.

Answer

Are innate and cannot be changed.

Answer

Only affect certain individuals.

Answer

Are always beneficial to decision-making.

Question 31

Understanding cognitive biases is important because it helps us:

Accepted Answer

Make more informed decisions.

Answer

Eliminate all errors in our thinking.

Answer

Predict the future with certainty.

Answer

Control the actions of others.

Question 32

When making decisions based on uncertain information, people often rely on information that is easily recalled, even if it is not the most relevant to the decision at hand. This is known as:

Accepted Answer

Availability heuristic

Answer

Representativeness heuristic

Answer

Framing effect

Answer

Halo effect

Question 33

The tendency to overestimate our own abilities and underestimate the abilities of others is known as:

Accepted Answer

Dunning-Kruger effect

Answer

Optimism bias

Answer

Self-serving bias

Answer

Confirmation bias

Question 34

Which of the following is NOT a technique to overcome cognitive biases?

Accepted Answer

Always trusting your intuition

Answer

Slow thinking

Answer

Questioning assumptions

Answer

Using checklists

Question 35

Which cognitive bias refers to the tendency to believe that events are more likely to happen because they are easy to imagine?

Accepted Answer

Availability heuristic

Answer

Representativeness heuristic

Answer

Illusion of control

Answer

Optimism bias

Question 36

The tendency to perceive a person or situation more positively or negatively than they actually are, based on our expectations, is referred to as:

Accepted Answer

Halo effect

Answer

Confirmation bias

Answer

Self-fulfilling prophecy

Answer

Priming effect

Question 37

Which cognitive bias refers to the tendency to seek out and give preference to evidence that supports our existing beliefs?

Accepted Answer

Confirmation bias

Answer

Anchoring bias

Answer

Framing effect

Question 38

Which common heuristic involves making judgments based on the information that comes to mind most easily?

Accepted Answer

Availability heuristic

Answer

Base rate fallacy

Answer

Representativeness heuristic

Answer

Illusion of control

Question 39

Which cognitive bias describes our tendency to believe we have more control over events than we actually do?

Accepted Answer

Illusion of control

Answer

Overconfidence bias

Answer

Self-serving bias

Answer

Dunning-Kruger effect

Question 40

Which cognitive bias leads us to take credit for our successes while blaming external factors for our failures?

Accepted Answer

Self-serving bias

Answer

Confirmation bias

Answer

Fundamental attribution error

Answer

Actor-observer effect

Question 41

Which cognitive bias refers to the phenomenon where our decisions can be influenced by the way information is presented?

Accepted Answer

Framing effect

Answer

Decoy effect

Answer

Illusion of validity

Answer

Anchoring bias

Question 42

Which concept refers to the tendency to adjust our beliefs based on new information, even if it contradicts our prior assumptions?

Accepted Answer

Bayesian updating

Answer

Confirmation bias

Answer

Overconfidence bias

Answer

Conservatism bias

Question 43

Which of the following can be described as a mental shortcut used to simplify decision-making?

Accepted Answer

Heuristic

Answer

Algorithm

Answer

Cognitive illusion

Answer

Mental model

Question 44

Which cognitive bias refers to the tendency to rely heavily on the initial piece of information we receive, disregarding subsequent, potentially more relevant information?

Accepted Answer

Anchoring bias

Answer

Availability bias

Answer

Confirmation bias

Answer

Hindsight bias

Question 45

What is the cognitive bias characterized by the belief that events are more predictable after they have occurred than they actually were prior to their occurrence?

Accepted Answer

Hindsight bias

Answer

Framing effect

Answer

Availability bias

Answer

Optimism bias

Question 46

Which of the following is NOT considered a cognitive bias?

Accepted Answer

Logical reasoning

Answer

Anchoring bias

Answer

Framing effect

Answer

Confirmation bias

Question 47

What is the cognitive bias that leads us to perceive ourselves as having more control over events than we actually do?

Accepted Answer

Illusion of control

Answer

Optimism bias

Answer

Pessimism bias

Answer

Groupthink

Question 48

Which cognitive bias involves the tendency to seek and interpret information that supports our existing beliefs?

Accepted Answer

Confirmation bias

Answer

Hindsight bias

Answer

Availability bias

Answer

Negativity bias

Question 49

What is the cognitive bias that makes us more likely to recall information that is easily accessible to memory?

Accepted Answer

Availability bias

Answer

Frequency bias

Answer

Salience bias

Answer

Recency bias

Question 50

Which of the following is a potential drawback of cognitive biases?

Accepted Answer

Irrational decision-making

Answer

Objective analysis

Answer

Increased efficiency

Answer

Accurate predictions

Question 51

What is the cognitive bias that leads us to perceive potential threats or risks as being more likely and severe than they actually are?

Accepted Answer

Negativity bias

Answer

Pessimism bias

Answer

Salience bias

Answer

Optimism bias

Question 52

Which cognitive bias can influence our perception of outcomes based on the way they are presented?

Accepted Answer

Framing effect

Answer

Illusion of control

Answer

Endowment effect

Answer

Sunk cost fallacy

Question 53

What is the cognitive bias that leads us to value things we already own or have invested in more highly?

Accepted Answer

Endowment effect

Answer

Sunk cost fallacy

Answer

Status quo bias

Answer

Loss aversion