5) < Ethical degradation in auditing can be avoided by: < a. Consider the competitiveness of the market < b. Allow interpretation of accounting standards from different perspective < c. Consider how much audit fees can be paid by the client < d. Always remain tough in auditing standards < < 6) < The police in Town A discovered that recently a number of car accidents happened due to a problematic road sign. The drivers said they collided with the car from the opposite direction because they were thinking about what the road sign meant. This is an example of: < a. Regret Avoidance < b. Confirmation Trap < c. Focusing Illusion < d. Overconfidence < < 7) < In the Monty Hall game, there are three doors and only one door lead to the grand prize. The guest chooses one. In the remaining two doors, the host opens one that is empty. The host then asks the guest whether he wants to keep his previous choice or change to another door that is still closed. Which of the following is correct? < a. Change to another door and the chance of winning will decrease to 1/3. < b. Keep the previous choice and the chance of winning will increase to 2/3. < c. It does not matter whether to keep the same or to change. The chance of winning is still because there are only two doors left. < d. Change to another door and the chance of winning will increase to 2/3. < < 8) < The captain of a commercial airline accumulated many years of flying experience. His 14- year-old son was in his flight and he allowed him to experience flying a plane by putting him in the pilot's seat. Thirty minutes later, the airplane crushed and everyone on the plane died. Which kind of mistake the captain has committed? < a. Overconfidence < b. Hindsight bias c. Change Blindness < d. Confirmation bias