问题如下：
Herman, 48 years old, is a musician.He is a passive investor who is careful in the investment. Herman overestimates his risk tolerance while shows a low risk tolerance, he exhibits framing bias, availability bias and conservative bias.
Fabian is a businessman and 46 years old. He has independent idea and investment with significant financial leverage. His investment portfolio is managed by himself, and almost 80% stocks are invested in financial sector. Fabian is confident about his investment and exhibits a high level of risk tolerance. He exhibits loss aversion bias, overconfidence bias and illusion of control bias.
Darcy is 65 years old, he has significant wealth because of a successful family business. Darcy is very cautious about the future and worries about his assets. He has low risk tolerance but will take advices from experts. Darcy exhibits status quo bias, regret-aversion bias and endowment bias.
Regarding three clients’ different characteristics, education works most effectively for:
选项： Fabian.
Herman.
C.Darcy.
解释：
B is correct.
考点：财富水平与行为偏差对投资组合偏离程度的表格
解析：Education对偏cognitive bias和财富水平低（high SLR）的投资者更有效。在三人中，除了Darcy的财富水平已知且属于高水平，另两位未知。因此我们只能从bias入手， Herman的cognitive bias最明显最多，所以B选项最合适。
请问这道题如果从FF和PP的角度去看的话，PP和AA不是emotional的吗，而FF和II是cognitive的，这样的话Darcy是FF，所以应该是cognitive，所以应是可以被educate的呀。谢谢。
