Test to assess your risk intelligence

Discussion in 'Psychology' started by lynx, Jan 1, 2010.

  1. lynx

    lynx

    I came across this mildly intriguing little test that claims to assess your "risk intelligence". I think it covers only one small aspect of risk but I still found it interesting.

    http://www.projectionpoint.com/index.php

    Make sure your clear your cookies before starting if you don't want them correlating the info on the test to any other info you may have given out online.
     
  2. Sorry, I don't get it.


    Sample question.

    Nutmeg is 50 years old.

    True or False.

    OR

    some percentage in between true and false.

    Choose the answer carefully. Your score will determine your risk IQ.

    You don't know me and have no concievable way of knowing the answer BUT your "inkling" will determine how good you are at assesing risk.
     
  3. drcha

    drcha

    I do not understand what risk intelligence has to do with asking me 50 questions, about 47 of which I have no idea of the answers to.....
     
  4. lynx

    lynx

    It doesn't matter whether you get the questions right or wrong.

    It has to do with how certain you are when you are wrong.
     
  5. oraclewizard77

    oraclewizard77 Moderator

    Results and Explanation

    Thank you for participating in our study!

    The RQ score ranges from 0 (low RQ) to 100 (high RQ). Your RQ score is 76. Such a score is high.

    Risk intelligence can be measured by calculating something called a “calibration curve”. The graph that is displayed above, is your calibration curve

    The graph below illustrates the relationship between your level of uncertainty and the likelihood estimates that the test asks you to assign to various statements. If you are completely uncertain as to whether a statement is true or false, this is indicated by stating that the statement is 50% likely to be true. If you are completely certain that the statement is false, this is indicated by giving a likelihood estimate of 0%. A likelihood estimate of 100% also indicates complete certainty – but in this case, you are certain that the statement is true.Uncertainty image

    Risk intelligence really comes into its own when you are neither completely certain nor completely uncertain – in other words, when you give estimates from 10% to 40% or between 60% and 90%. This is the twilight zone between the stuff you really know and the stuff about which you don’t have a clue.

    In our culture, doubt is often perceived as a sign of weakness. In the financial sector in particular, macho attitudes played no small part in stoking the bubble that burst in late 2007. What if the bankers who were making all those dodgy loans in the preceding decade had undergone regular calibration testing? It’s an interesting thought.
     
  6. 0008

    0008

    81
     
  7. Jesus

    Jesus

    85. But I don't see how accurate this can be.
     
  8. drcha

    drcha

    Well, it told me I got a low score, but I marked the middle box for almost all of them because I was completely unsure. So why a low score?
     
  9. Speaking of low scores. I got a 51, my 13 yo daughter got a 58.
     
  10. oraclewizard77

    oraclewizard77 Moderator

    Well it measures risk and intelligence which equates to risk intelligence.

     
    #10     Jan 5, 2010