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FHCE3200 FINAL GOREN Questions and Correct Answers/ Latest Update / Already Graded

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FHCE3200 FINAL GOREN Questions and Correct Answers/ Latest Update / Already Graded

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FHCE3200 FINAL GOREN Questions and
Correct Answers/ Latest Update / Already
Graded
Financial capacity can be defined as:




A) How well an individual understands financial information




B) How well an individual can manage their finances based on their
access to financial resources




C) How well an individual understands accounting




D) How well an individual can manage their finances based on their
personality and psychology

Ans: B




All rights reserved © 2025/ 2026 |

, Page |2

An individual's willingness to engage in a risky financial behavior is
known as their




A) Financial risk capacity




B) Financial risk efficacy




C) Financial risk awareness




D) Financial risk tolerance

Ans: D


Which of the following factors is not associated with an individual's
financial risk tolerance?




All rights reserved © 2025/ 2026 |

, Page |3

A) Educational attainment




B) Gender




C) Wealth




D) All of the above are associated with risk tolerance

Ans: D


Many people make the mistake of believing that they will never
experience painful losses. This mental fallacy is also known as:




A) Loss aversion




B) Confirmatory bias

All rights reserved © 2025/ 2026 |

, Page |4




C) Status quo bias




D) Optimism bias

Ans: D


A preference for leaving things as they are is known as:




A) Loss aversion




B) Physical inertia




C) Status quo bias




All rights reserved © 2025/ 2026 |

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