- CFA Exams
- CFA Level I Exam
- Topic 9. Portfolio Management
- Learning Module 5. The Behavioral Biases of Individuals
- Subject 2. Cognitive Errors
CFA Practice Question
A person who feels that selecting her own lottery ticket number, rather than accepting a machine generated number, increases the likelihood of winning, is exhibiting: A. Confirmation Bias
B. Framing Bias
C. Illusion of Control Bias.
Correct Answer: C
Choosing one's own lottery numbers has no bearing on the probability of winning.
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