2024版考纲删掉了吧？

问题如下：

A client of Eunice Fox, Jane Lennon’s risk tolerance is shown in the following table:

The behavioral bias that Lennon’s past investment experience illustrates is best described

as:

选项：

A.

self-control bias.

B.

mental accounting bias.

C.

loss-aversion bias.

解释：

C is correct. The behavioral bias illustrated in Lennon’s past investment experience was loss-aversion bias: Losses are perceived as more painful than the satisfaction of equivalent gains, and assets that have incurred losses but have little chance of recovery are retained because the pain of recognizing the loss is too great. Given the risk of having to give back gains already realized, winning investments are often sold early, resulting in self-imposed limited upside potential.

A is incorrect. Self-control bias is a bias in which people fail to act in pursuit of their long-term, overarching goals because of lack of discipline. Lennon does not appear to exhibit this bias because she has taken steps to deal with her specific goals, including saving for her own future and that of her children.

B is incorrect. The mental accounting bias involves setting up separate accounts or buckets for wealth, each with its own risk tolerance and expected return depending on the purpose the investor associates with it. Although one of Fox’s comments refers to taking higher risk to achieve one of the goals, this is not being referred to in Exhibit 1, which deals with retaining losers and selling winners.