Cognitive Reflection Test Basic 3 — Questions and Answers
Question 1: A man buys a pig for $60, sells it for $70, buys it back for $80, and sells it again for $90. How much profit did he make?
- $20 (Correct answer)
- $10
- $30
- $0
Correct answer: $20
He gains $10 on the first sale and $10 on the second, for $20 total profit.
Question 2: Which system of thinking, per dual-process theory, produces the wrong intuitive CRT answers?
- System 1 (fast, automatic) (Correct answer)
- System 2 (slow, deliberate)
- The visual cortex
- Working memory alone
Correct answer: System 1 (fast, automatic)
System 1's fast, automatic responses generate the tempting but incorrect CRT answers.
Question 3: If it takes 8 painters 8 hours to paint 8 walls, how long would 4 painters take to paint 4 walls?
- 8 hours (Correct answer)
- 4 hours
- 16 hours
- 2 hours
Correct answer: 8 hours
Each painter paints one wall in 8 hours, so 4 painters paint 4 walls in 8 hours.
Question 4: A frog falls into a 30-foot well, climbs 3 feet each day but slips 2 feet each night. How many days to escape?
- 28 days (Correct answer)
- 30 days
- 15 days
- 27 days
Correct answer: 28 days
It gains 1 foot per full day but on day 28 climbs 3 feet from 27 to 30 and escapes before slipping.
Question 5: Emily's father has three daughters named April, May, and ___?
- Emily (Correct answer)
- June
- March
- July
Correct answer: Emily
The third daughter is Emily herself, as stated at the start of the riddle.
Question 6: A higher score on the Cognitive Reflection Test is most associated with which tendency?
- More patience and willingness to reason before answering (Correct answer)
- Faster impulsive responding
- Higher risk-seeking in all cases
- Weaker mathematical ability
Correct answer: More patience and willingness to reason before answering
High CRT scorers tend to be more reflective and patient, resisting the first answer that comes to mind.
Question 7: If you overtake the person in second place in a race, what position are you in?
- Second (Correct answer)
- First
- Third
- Fourth
Correct answer: Second
Passing the runner in second place puts you into second, not first.
Cognitive Reflection Test Basic 3
A man buys a pig for $60, sells it for $70, buys it back for $80, and sells it again for $90.
How much profit did he make?