What Term Refers to Our Tendency to Overestimate What We

question 94

Multiple Choice

What term refers to our tendency to overestimate what we are familiar with and underestimate things with which we are not familiar or that we do not remember as well?

• A) availability bias
• B) representativeness bias
• C) halo bias
• D) overconfidence

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Definitions:

Certified Check

A check for which the issuing bank guarantees the availability of funds by verifying the account balance and then setting aside the check amount for payment.

Honor

A quality of integrity, fairness, and honesty in one's beliefs and actions.

Certify

To officially recognize, verify, or endorse a particular status, qualification, or fact.

Bank

A financial institution licensed to receive deposits and make loans, and may offer various other financial services, like wealth management, currency exchange, and safe deposit boxes.