{"root":{"nodeName":"document","nodeValue":null,"nodeType":"0","display":"block","nodeAttrs":[],"childNodes":[{"nodeName":"div","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[],"childNodes":[{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"br","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[]}]},{"nodeName":"h2","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"margin-top:9.0pt;margin-right:0cm;margin-bottom:15.0pt;margin-left:\n0cm;line-height:133%;layout-grid-mode:both;"}],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"line-height:133%;"}],"childNodes":[{"nodeName":"text","nodeValue":" ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"h1","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"line-height:normal;layout-grid-mode:both;"}],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"Reading Passage 1","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"em","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"You should spend about 20minutes on ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]},{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"text","nodeValue":"Questions 1-13","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]},{"nodeName":"text","nodeValue":", which are based on Reading Passage 1 below.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]},{"nodeName":"h2","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"text-align:center;line-height:normal;layout-grid-mode:\nboth;"}],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"Why Risks Can Go Wrong","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"em","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"Human intuition is a bad guideto handling risk","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"A. ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"People make terrible decisions about thefuture. The evidence is all around, from their investments in the stock marketsto the way they run their businesses. In fact, people are consistently bad atdealing with uncertainty, underestimating some kinds of risk and overestimatingothers. Surely there must be a better way than using intuition?","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"B. ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"In the 1960s a young American researchpsychologist, Daniel Kahneman, became interested in people's inability to makelogical decisions. That launched him on a career to show just how irrationallypeople behave in practice. When Kahneman and his colleagues first started work,the idea of applying psychological insights to economics and business decisionswas seen as rather bizarre. But in the past decade the fields of behaviouralfinance and behavioural economics have blossomed, and in 2002 Kahneman shared aNobel prize in economics for his work. Today he is in demand by businessorganizations and international banking companies. But, he says, there areplenty of institutions that still fail to understand the roots of their poordecisions. He claims that, far from being random, these mistakes are systematicand predictable.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"C. ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"One common cause of problems indecision-making is over-optimism. Ask most people about the future, and theywill see too much blue sky ahead, even if past experience suggests otherwise.Surveys have shown that people's forecasts of future stock market movements arefar more optimistic than past long-term returns would justify. The same goesfor their hopes of ever-rising prices for their homes or doing well in games ofchance. Such optimism can be useful for managers or sportsmen, and sometimesturns into a self-fulfilling prophecy. But most of the time it results inwasted effort and dashed hopes. Kahneman's work points to three types ofover-confidence. First, people tend to exaggerate their own skill and prowess;in polls, far fewer than half the respondents admit to having below-averageskills in, say, driving. Second, they overestimate the amount of control theyhave over the future, forgetting about luck and chalking up success solely toskill. And third, in competitive pursuits such as dealing on shares, theyforget that they have to judge their skills against those of the competition.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"D. ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"Another source of wrong decisions isrelated to the decisive effect of the initial meeting, particularly innegotiations over money. This is referred to as the 'anchor effect'. Once afigure has been mentioned, it takes a strange hold over the human mind. Theasking price quoted in a house sale, for example, tends to become accepted byall parties as the 'anchor' around which negotiations take place. Much the samegoes for salary negotiations or mergers and acquisitions. If nobody has muchinformation to go on, a figure can provide comfort - even though it may lead toa terrible mistake.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"E. ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"In addition, mistakes may arise due tostubbornness. No one likes to abandon a cherished belief, and the earlier adecision has been taken, the harder it is to abandon it. Drug companies mustdecide early to cancel a failing research project to avoid wasting money, butmay find it difficult to admit they have made a mistake. In the same way,analysts may have become wedded early to a single explanation that colouredtheir perception. A fresh eye always helps.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"F. ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"People also tend to put a lot of emphasison things they have seen and experienced themselves, which may not be the bestguide to decision-making. For example, somebody may buy an overvalued sharebecause a relative has made thousands on it, only to get his fingers burned. Infinance, too much emphasis on information close at hand helps to explain thetendency by most investors to invest only within the country they live in. Eventhough they know that diversification is good for their portfolio, a largemajority of both Americans and Europeans invest far too heavily in the sharesof their home countries. They would be much better off spreading their risksmore widely.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"G. ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"More information is helpful in making anydecision but, says Kahneman, people spend proportionally too much time on smalldecisions and not enough on big ones. They need to adjust the balance. Duringthe boom years, some companies put as much effort into planning their officeparty as into considering strategic mergers.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"H. ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"Finally, crying over spilled milk is notjust a waste of time; it also often colours people's perceptions of the future.Some stock market investors trade far too frequently because they are chasingthe returns on shares they wish they had bought earlier.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"I. ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"Kahneman reckons that some types ofbusinesses are much better than others at dealing with risk. Pharmaceuticalcompanies, which are accustomed to many failures and a few big successes intheir drug-discovery programmes, are fairly rational about their risk-taking. Butbanks, he says, have a long way to go. They may take big risks on a few hugeloans, but are extremely cautious about their much more numerous loans to smallbusinesses, many of which may be less risky than the big ones. And the researchhas implications for governments too. They face a whole range of sometimesconflicting political pressures, which means they are even more likely to takeirrational decisions.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"SECTION 1: QUESTIONS 1-13","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]},{"nodeName":"h3","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"line-height:normal;layout-grid-mode:both;"}],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"Questions 1-6","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"em","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"Reading Passage 1 has nineparagraphs ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]},{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"text","nodeValue":"A-I","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]},{"nodeName":"text","nodeValue":".","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"em","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"Choose the correct heading forParagraphs B and ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]},{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"text","nodeValue":"D-H","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]},{"nodeName":"text","nodeValue":" from the list of headings below.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"em","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"Write the correct number ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]},{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"text","nodeValue":"(i-xi)","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]},{"nodeName":"text","nodeValue":"in boxes ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]},{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"text","nodeValue":"1-6","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]},{"nodeName":"text","nodeValue":" on your answer sheet.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"1","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":" ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:\nblack;"}],"childNodes":[{"nodeName":"text","nodeValue":"____________","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":" Paragraph B","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"2","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":" ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:\nblack;"}],"childNodes":[{"nodeName":"text","nodeValue":"____________","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":" Paragraph D","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"3","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":" ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:\nblack;"}],"childNodes":[{"nodeName":"text","nodeValue":"____________","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":" Paragraph E","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"4","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":" ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:\nblack;"}],"childNodes":[{"nodeName":"text","nodeValue":"____________","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":" Paragraph F","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"5","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":" ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:\nblack;"}],"childNodes":[{"nodeName":"text","nodeValue":"____________","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":" Paragraph G","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"6","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":" ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:\nblack;"}],"childNodes":[{"nodeName":"text","nodeValue":"____________","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":" Paragraph H","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"table","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"border-collapse:collapse;border:none;"}],"childNodes":[{"nodeName":"tbody","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[],"childNodes":[{"nodeName":"tr","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":""}],"childNodes":[{"nodeName":"td","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"border:solid gray 1.0pt;"}],"childNodes":[{"nodeName":"br","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[]}]},{"nodeName":"td","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"border:solid gray 1.0pt;\n border-left:none;"}],"childNodes":[{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"margin: 0cm 0cm 0.0001pt;;"}],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"List of headings","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]}]},{"nodeName":"tr","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":""}],"childNodes":[{"nodeName":"td","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"border:solid gray 1.0pt;\n border-top:none;"}],"childNodes":[{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"margin: 0cm 0cm 0.0001pt;;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"i","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]}]},{"nodeName":"td","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"border-top:none;border-left:\n none;border-bottom:solid gray 1.0pt;border-right:solid gray 1.0pt;"}],"childNodes":[{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"margin: 0cm 0cm 0.0001pt;;"}],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"Not identifying the correct priorities","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]}]},{"nodeName":"tr","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":""}],"childNodes":[{"nodeName":"td","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"border:solid gray 1.0pt;\n border-top:none;"}],"childNodes":[{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"margin: 0cm 0cm 0.0001pt;;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"ii","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]}]},{"nodeName":"td","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"border-top:none;border-left:\n none;border-bottom:solid gray 1.0pt;border-right:solid gray 1.0pt;"}],"childNodes":[{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"margin: 0cm 0cm 0.0001pt;;"}],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"A solution for the long term","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]}]},{"nodeName":"tr","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":""}],"childNodes":[{"nodeName":"td","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"border:solid gray 1.0pt;\n border-top:none;"}],"childNodes":[{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"margin: 0cm 0cm 0.0001pt;;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"iii","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]}]},{"nodeName":"td","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"border-top:none;border-left:\n none;border-bottom:solid gray 1.0pt;border-right:solid gray 1.0pt;"}],"childNodes":[{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"margin: 0cm 0cm 0.0001pt;;"}],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"The difficulty of changing your mind","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]}]},{"nodeName":"tr","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":""}],"childNodes":[{"nodeName":"td","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"border:solid gray 1.0pt;\n border-top:none;"}],"childNodes":[{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"margin: 0cm 0cm 0.0001pt;;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"iv","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]}]},{"nodeName":"td","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"border-top:none;border-left:\n none;border-bottom:solid gray 1.0pt;border-right:solid gray 1.0pt;"}],"childNodes":[{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"margin: 0cm 0cm 0.0001pt;;"}],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"Why looking back is unhelpful","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]}]},{"nodeName":"tr","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":""}],"childNodes":[{"nodeName":"td","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"border:solid gray 1.0pt;\n border-top:none;"}],"childNodes":[{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"margin: 0cm 0cm 0.0001pt;;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"v","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]}]},{"nodeName":"td","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"border-top:none;border-left:\n none;border-bottom:solid gray 1.0pt;border-right:solid gray 1.0pt;"}],"childNodes":[{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"margin: 0cm 0cm 0.0001pt;;"}],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"Strengthening inner resources","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]}]},{"nodeName":"tr","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":""}],"childNodes":[{"nodeName":"td","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"border:solid gray 1.0pt;\n border-top:none;"}],"childNodes":[{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"margin: 0cm 0cm 0.0001pt;;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"vi","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]}]},{"nodeName":"td","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"border-top:none;border-left:\n none;border-bottom:solid gray 1.0pt;border-right:solid gray 1.0pt;"}],"childNodes":[{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"margin: 0cm 0cm 0.0001pt;;"}],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"A successful approach to the study of decision-making","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]}]},{"nodeName":"tr","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":""}],"childNodes":[{"nodeName":"td","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"border:solid gray 1.0pt;\n border-top:none;"}],"childNodes":[{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"margin: 0cm 0cm 0.0001pt;;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"vii","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]}]},{"nodeName":"td","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"border-top:none;border-left:\n none;border-bottom:solid gray 1.0pt;border-right:solid gray 1.0pt;"}],"childNodes":[{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"margin: 0cm 0cm 0.0001pt;;"}],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"The danger of trusting a global market","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]}]},{"nodeName":"tr","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":""}],"childNodes":[{"nodeName":"td","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"border:solid gray 1.0pt;\n border-top:none;"}],"childNodes":[{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"margin: 0cm 0cm 0.0001pt;;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"viii","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]}]},{"nodeName":"td","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"border-top:none;border-left:\n none;border-bottom:solid gray 1.0pt;border-right:solid gray 1.0pt;"}],"childNodes":[{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"margin: 0cm 0cm 0.0001pt;;"}],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"Reluctance to go beyond the familiar","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]}]},{"nodeName":"tr","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":""}],"childNodes":[{"nodeName":"td","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"border:solid gray 1.0pt;\n border-top:none;"}],"childNodes":[{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"margin: 0cm 0cm 0.0001pt;;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"ix","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]}]},{"nodeName":"td","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"border-top:none;border-left:\n none;border-bottom:solid gray 1.0pt;border-right:solid gray 1.0pt;"}],"childNodes":[{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"margin: 0cm 0cm 0.0001pt;;"}],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"The power of the first number","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]}]},{"nodeName":"tr","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":""}],"childNodes":[{"nodeName":"td","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"border:solid gray 1.0pt;\n border-top:none;"}],"childNodes":[{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"margin: 0cm 0cm 0.0001pt;;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"x","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]}]},{"nodeName":"td","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"border-top:none;border-left:\n none;border-bottom:solid gray 1.0pt;border-right:solid gray 1.0pt;"}],"childNodes":[{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"margin: 0cm 0cm 0.0001pt;;"}],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"The need for more effective risk assessment","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]}]},{"nodeName":"tr","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":""}],"childNodes":[{"nodeName":"td","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"border:solid gray 1.0pt;\n border-top:none;"}],"childNodes":[{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"margin: 0cm 0cm 0.0001pt;;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"xi","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]}]},{"nodeName":"td","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"border-top:none;border-left:\n none;border-bottom:solid gray 1.0pt;border-right:solid gray 1.0pt;"}],"childNodes":[{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"margin: 0cm 0cm 0.0001pt;;"}],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"Underestimating the difficulties ahead","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]}]}]}]},{"nodeName":"h3","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"line-height:normal;layout-grid-mode:both;"}],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"Questions 7-10","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"em","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"Choose the correct answer","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]},{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"text","nodeValue":" A,B, C","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]},{"nodeName":"text","nodeValue":" or ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]},{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"text","nodeValue":"D","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"em","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"Write your answers in boxes ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]},{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"text","nodeValue":"7-10","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]},{"nodeName":"text","nodeValue":"on your answer sheet.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"7","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"People initially found Kahneman's workunusual because he","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"A","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"saw mistakes as following predictable patterns.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"B","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"was unaware of behavioural approaches.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"C","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"dealt with irrational types of practice.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"D","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"applied psychology to finance andeconomics","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"8","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"The writer mentions house-owners attitudestowards the value of their homes to illustrate that","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"A","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"past failures may destroy an optimisticattitude.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"B","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"people tend to exaggerate their chances ofsuccess.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"C","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"optimism may be justified in certaincircumstances.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"D","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"people are influenced by the success ofothers.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"9","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"Stubbornness and inflexibility can causeproblems when people","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"A","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"think their financial difficulties arejust due to bad luck.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"B","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"avoid seeking advice from experts andanalysts.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"C","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"refuse to invest in the early stages of aproject.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"D","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"are unwilling to give up unsuccessfulactivities or beliefs.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"10","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"Why do many Americans and Europeans failto spread their financial risks when investing?","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"A","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"They feel safer dealing in a context whichis close to home.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"B","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"They do not understand the benefits ofdiversification.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"C","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"They are over-influenced by the successesof their relatives.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"D","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"They do not have sufficient knowledge ofone another’s countries.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"h3","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"line-height:normal;layout-grid-mode:both;"}],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"Questions 11-13","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"em","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"Answer the questions below,using ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]},{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"text","nodeValue":"NO MORE THAN THREE WORDS ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]},{"nodeName":"text","nodeValue":"for each answer.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"em","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"Write your answers in boxes ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]},{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"text","nodeValue":"11-13","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]},{"nodeName":"text","nodeValue":"on your answer sheet.","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"Which two occupations maybenefit from being over-optimistic? ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]},{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"11","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":" ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:\nblack;"}],"childNodes":[{"nodeName":"text","nodeValue":"____________","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"Which practical skill are manypeople over-confident about? ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]},{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"\ncolor:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"12","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"____________","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"p","nodeValue":null,"nodeType":"1","display":"block","nodeAttrs":[{"attrName":"style","attrValue":"layout-grid-mode:both;"}],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"Which type of business has agenerally good attitude to dealing with uncertainty? ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]},{"nodeName":"strong","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[],"childNodes":[{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":"13","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:black;"}],"childNodes":[{"nodeName":"text","nodeValue":" ","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]},{"nodeName":"span","nodeValue":null,"nodeType":"1","display":"inline","nodeAttrs":[{"attrName":"style","attrValue":"color:\nblack;"}],"childNodes":[{"nodeName":"text","nodeValue":"____________","nodeType":"3","display":"inline","nodeAttrs":[],"childNodes":[]}]}]}]}]},"imageUrls":[],"text":" Reading Passage 1You should spend about 20\nminutes on Questions 1-13, which are based on Reading Passage 1 below.Why Risks Can Go WrongHuman intuition is a bad guide\nto handling riskA. People make terrible decisions about the\nfuture. The evidence is all around, from their investments in the stock markets\nto the way they run their businesses. In fact, people are consistently bad at\ndealing with uncertainty, underestimating some kinds of risk and overestimating\nothers. Surely there must be a better way than using intuition?B. In the 1960s a young American research\npsychologist, Daniel Kahneman, became interested in people's inability to make\nlogical decisions. That launched him on a career to show just how irrationally\npeople behave in practice. When Kahneman and his colleagues first started work,\nthe idea of applying psychological insights to economics and business decisions\nwas seen as rather bizarre. But in the past decade the fields of behavioural\nfinance and behavioural economics have blossomed, and in 2002 Kahneman shared a\nNobel prize in economics for his work. Today he is in demand by business\norganizations and international banking companies. But, he says, there are\nplenty of institutions that still fail to understand the roots of their poor\ndecisions. He claims that, far from being random, these mistakes are systematic\nand predictable.C. One common cause of problems in\ndecision-making is over-optimism. Ask most people about the future, and they\nwill see too much blue sky ahead, even if past experience suggests otherwise.\nSurveys have shown that people's forecasts of future stock market movements are\nfar more optimistic than past long-term returns would justify. The same goes\nfor their hopes of ever-rising prices for their homes or doing well in games of\nchance. Such optimism can be useful for managers or sportsmen, and sometimes\nturns into a self-fulfilling prophecy. But most of the time it results in\nwasted effort and dashed hopes. Kahneman's work points to three types of\nover-confidence. First, people tend to exaggerate their own skill and prowess;\nin polls, far fewer than half the respondents admit to having below-average\nskills in, say, driving. Second, they overestimate the amount of control they\nhave over the future, forgetting about luck and chalking up success solely to\nskill. And third, in competitive pursuits such as dealing on shares, they\nforget that they have to judge their skills against those of the competition.D. Another source of wrong decisions is\nrelated to the decisive effect of the initial meeting, particularly in\nnegotiations over money. This is referred to as the 'anchor effect'. Once a\nfigure has been mentioned, it takes a strange hold over the human mind. The\nasking price quoted in a house sale, for example, tends to become accepted by\nall parties as the 'anchor' around which negotiations take place. Much the same\ngoes for salary negotiations or mergers and acquisitions. If nobody has much\ninformation to go on, a figure can provide comfort - even though it may lead to\na terrible mistake.E. In addition, mistakes may arise due to\nstubbornness. No one likes to abandon a cherished belief, and the earlier a\ndecision has been taken, the harder it is to abandon it. Drug companies must\ndecide early to cancel a failing research project to avoid wasting money, but\nmay find it difficult to admit they have made a mistake. In the same way,\nanalysts may have become wedded early to a single explanation that coloured\ntheir perception. A fresh eye always helps.F. People also tend to put a lot of emphasis\non things they have seen and experienced themselves, which may not be the best\nguide to decision-making. For example, somebody may buy an overvalued share\nbecause a relative has made thousands on it, only to get his fingers burned. In\nfinance, too much emphasis on information close at hand helps to explain the\ntendency by most investors to invest only within the country they live in. Even\nthough they know that diversification is good for their portfolio, a large\nmajority of both Americans and Europeans invest far too heavily in the shares\nof their home countries. They would be much better off spreading their risks\nmore widely.G. More information is helpful in making any\ndecision but, says Kahneman, people spend proportionally too much time on small\ndecisions and not enough on big ones. They need to adjust the balance. During\nthe boom years, some companies put as much effort into planning their office\nparty as into considering strategic mergers.H. Finally, crying over spilled milk is not\njust a waste of time; it also often colours people's perceptions of the future.\nSome stock market investors trade far too frequently because they are chasing\nthe returns on shares they wish they had bought earlier.I. Kahneman reckons that some types of\nbusinesses are much better than others at dealing with risk. Pharmaceutical\ncompanies, which are accustomed to many failures and a few big successes in\ntheir drug-discovery programmes, are fairly rational about their risk-taking. But\nbanks, he says, have a long way to go. They may take big risks on a few huge\nloans, but are extremely cautious about their much more numerous loans to small\nbusinesses, many of which may be less risky than the big ones. And the research\nhas implications for governments too. They face a whole range of sometimes\nconflicting political pressures, which means they are even more likely to take\nirrational decisions.SECTION 1: QUESTIONS 1-13Questions 1-6Reading Passage 1 has nine\nparagraphs A-I.Choose the correct heading for\nParagraphs B and D-H from the list of headings below.Write the correct number (i-xi)in boxes 1-6 on your answer sheet.1 ____________ \nParagraph B2 ____________ \nParagraph D3 ____________ \nParagraph E4 ____________ \nParagraph F5 ____________ \nParagraph G6 ____________ \nParagraph HList of headingsiNot identifying the correct prioritiesiiA solution for the long termiiiThe difficulty of changing your mindivWhy looking back is unhelpfulvStrengthening inner resourcesviA successful approach to the study of\n decision-makingviiThe danger of trusting a global marketviiiReluctance to go beyond the familiarixThe power of the first numberxThe need for more effective risk assessmentxiUnderestimating the difficulties aheadQuestions 7-10Choose the correct answer A,\nB, C or DWrite your answers in boxes 7-10on your answer sheet.7People initially found Kahneman's work\nunusual because heAsaw mistakes as following predictable patterns.Bwas unaware of behavioural approaches.Cdealt with irrational types of practice.Dapplied psychology to finance and\neconomics8The writer mentions house-owners attitudes\ntowards the value of their homes to illustrate thatApast failures may destroy an optimistic\nattitude.Bpeople tend to exaggerate their chances of\nsuccess.Coptimism may be justified in certain\ncircumstances.Dpeople are influenced by the success of\nothers.9Stubbornness and inflexibility can cause\nproblems when peopleAthink their financial difficulties are\njust due to bad luck.Bavoid seeking advice from experts and\nanalysts.Crefuse to invest in the early stages of a\nproject.Dare unwilling to give up unsuccessful\nactivities or beliefs.10Why do many Americans and Europeans fail\nto spread their financial risks when investing?AThey feel safer dealing in a context which\nis close to home.BThey do not understand the benefits of\ndiversification.CThey are over-influenced by the successes\nof their relatives.DThey do not have sufficient knowledge of\none another’s countries.Questions 11-13Answer the questions below,\nusing NO MORE THAN THREE WORDS for each answer.Write your answers in boxes 11-13on your answer sheet.Which two occupations may\nbenefit from being over-optimistic? 11 ____________Which practical skill are many\npeople over-confident about? 12____________Which type of business has a\ngenerally good attitude to dealing with uncertainty? 13 ____________"}
