Why Risks Can Go Wrong Reading Answers with Explanation

Preparing for the IELTS reading section? Here on this page, you will get a passage along with a list of questions. These tasks assess the different skills of an individual through various questions. These questions evaluate language and comprehension skills. Besides, the ideal time to solve these questions is twenty minutes. The preparation becomes easy and hassle-free when you get the required resources and materials. Thus, here is a sample passage on "Why Risks Can Go Wrong Reading Answers" with the solutions and explanations. Read the following write-up for better clarity.

You’ve got 20 minutes to read, understand, and answer the questions provided with the passage.

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Answers to “Why Risks Can Go Wrong” Reading Passage with Explanations

Let us see all the solutions with their detailed explanations for “Why Risks Can Go Wrong Reading Answers”. This will give you a brief idea of how to answer the questions in the exam.

Question 1

ANSWER :vi - A successful approach to the study of decision-making

Explanation :In the 3rd and 4th lines of paragraph B, it is mentioned that initially the idea was rather seen as bizarre. However, after a decade they received a Nobel prize for it. “the idea of applying psychological insights to economics and business decisions was seen as rather bizarre. But in the past decade in 2002, Kahneman shared a Nobel prize in economics for his work.” Thus, the heading that suits the paragraph is a successful approach to studying decision-making.

Question 2

ANSWER :ix - The power of the first number

Explanation :As per the second line of paragraph D, it can be inferred that the effect of the initial meeting, particularly in negotiations over money plays a vital role. “Once a figure has been mentioned, it takes a strange hold over the human mind.” Hence, the heading, power of the first number is best suited for this paragraph.

Question 3

ANSWER :iii - The difficulty of changing your mind

Explanation :According to the second line of paragraph E, it is quite difficult to change minds. “No one likes to abandon a cherished belief, and the earlier a decision has been taken, the harder it is to abandon it.” Thus, iii heading from the list is best suited.

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Question 4

ANSWER :viii - Reluctance to go beyond the familiar

Explanation :According to the initial line of paragraph H, people believe the things that they have seen or experienced. Further, it is mentioned that this may not be the best way to guide a decision. “People also tend to put a lot of emphasis on things they have seen and experienced themselves, which may not be the best guide to decision-making.” Therefore, it can be inferred that the best-suited heading is viii.

Question 5

ANSWER :i - Not identifying the correct priorities

Explanation :As per the first line of paragraph G, people do not have set priorities. “People spend proportionally too much time on small decisions and not enough on big ones.” Therefore, the correct heading is “Not identifying the correct priorities.”

Question 6

ANSWER :iv - Why looking back is unhelpful

Explanation :In the first line of paragraph H, it is stated that it's not a waste of time to look back, rather it changes perceptions. “crying over spilled milk is not just a waste of time; it also often colors people's perceptions of the future.” Thus, the best-suited heading is ‘Why looking back is unhelpful.’

Question 7

ANSWER :D - applied psychology to finance and economics.

Explanation :According to the 4th line of paragraph B, Kahneman's work was unusual and bizarre as he applied finance and economics. However, after a decade or so, he received a Nobel prize for his work. Thus, the best-suited option is D from the options provided.

Question 8

ANSWER :B - people tend to exaggerate their chances of success.

Explanation :The second and fourth line of paragraph C mentions people get way too ahead of themselves. “See too much blue sky ahead, even if experience suggests otherwise.”, “The same goes for their hopes of ever-rising.” Thus, the second option is correct.

Question 9

ANSWER :D - are unwilling to give up unsuccessful activities or beliefs.

Explanation :According to the third line of paragraph E, there can be various problems when people are unwilling to give up. “Drug companies must decide early to cancel a failing research project to avoid wasting money, but may find it difficult to admit they have made a mistake. In the same way, analysts may have become wedded early to a single explanation that colored their perception. A fresh eye always helps.”

Question 10

ANSWER :A - They feel safer dealing in a context that is close to home.

Explanation :In the 3rd line of paragraph F, it is mentioned that Americans and Europeans prefer to not take risks while investing. Further, it is noted that they feel safer to deal near to home. Thus, option A is the correct answer.

Question 11

ANSWER :Managers (and/or) sportsmen

Explanation :As per the 5th line of paragraph C, managers, and sportsmen are two occupations that benefit from being over-optimistic. “Such optimism can be useful for managers or sportsmen, and sometimes turns into a self-fulfilling prophecy.”

Question 12

ANSWER :Driving

Explanation :In the 7th line of paragraph C, it is stated that people tend to exaggerate skills and power in driving. “First, people tend to exaggerate their own skill and prowess; in polls, far fewer than half the respondents admit to having below-average skills in, say, driving.”

Question 13

ANSWER :Pharmaceutical (companies)

Explanation :“Pharmaceutical companies, which are accustomed to many failures and a few big successes in their drug-discovery programs, are fairly rational about their risk-taking.”

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The passage talks about the risks of investment and the outcomes. Furthermore, the text consists of nine paragraphs with three types of questions. To answer these questions, the candidate must be aware of the skills that the question evaluates and strategies to solve.

Additionally, while preparing for the IELTS exam, candidates require proper guidance and training. Gradding.com provides you with a variety of mocks and practice tests. Further, students even improve their scores through our 30+ IELTS reading practice test PDF with answers for the reading section. Moreover, we provide the best preparation materials to ace the exam on the first attempt. Furthermore, you can interact with our top-notch trainers and get your doubts solved.

Tips to Excel in Why Risks Can Go Wrong Reading Passage

Some tips have been mentioned below that will help you with “Why Risks Can Go Wrong”. Go through these tips as they will help you to ace the reading passage with the desired score.

Focus on the intent and motive of the writer.
Take a look at IELTS reading question types in detail.
Read as much as possible, this will result in improving speed and confidence.
It is vital to practice and understand the process of answering.

Following these few tips will help you ace the IELTS exam with a great band score.

Types of Questions in This Reading Passage

This specific write-up of “Why Risks Can Go Wrong Reading Answers” has three different types of questions. They are as follows:

Headings (Questions 1-6)

Observe the questions from 1-6, it is about matching headings. In this, you have given a few statements that you should match from the suitable paragraph. Besides, you need to finalize from which paragraph it is taken, and from the list provided select which suits the best. This type of question aims to assess the candidates’ ability to read the passage and understand the whole text. To answer these types of questions, the candidate must locate the keywords and look for nouns, verbs, and suitable grammar.

Multiple Choice (Questions 7-10)

From 7-10, you have got multiple choice-based question types. In this, students are given options for each task. Now, you have to identify according to the correct passage information and finalize the answer. One must scan the facts properly and be able to paraphrase them. To answer this kind of question, it is advisable to go through the questions first and then the passage. Moreover, understanding the meaning of the text is much more important than matching the keywords.

Short Answer Questions (Questions 11-13)

In this type of question, there will be a paragraph along with some questions. These questions evaluate your ability to identify and understand precise information. Besides, it requires you to have scanning and skimming qualities. Further, you must have attention to detail i.e. you must be able to highlight details in the paragraph. Moreover, to ace these questions follow the order of the passage, and use exact words from the passage. If mentioned statements like “NO MORE THAN THREE WORDS” then do not exceed it.

Conclusion

This particular write-up covers the reading passage “Why Risks Can Go Wrong Reading Answers” with complete information. To excel in reading passages, you must be well aware of the techniques and strategies. Moreover, in the following write-up, we had a close look at the passage and the answers to the different types of questions. Additionally, practice better and test your comprehension skills by taking our IELTS reading mock test of the reading section. These will help you boost your confidence for the exam day.