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Apr 2808:00 AM PDT
-11:00 AM PDT
Whether you are just beginning your MBA journey or fine-tuning your path to a 700+ score, GMAT Day is designed to give you a competitive edge.
11 Aug 2021, 02:00
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Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
65%
(hard)
Question Stats:
63% (02:30) correct
37%
(02:35)
wrong
based on 505
sessions
History
Date
Time
Result
Not Attempted Yet
Psychiatrist: Having counseled day traders for several years now, I have come to realize that they could benefit greatly from the behavioral training techniques that modern psychiatry has embraced. One of the biggest challenges for day traders is recovering from losses and developing the ongoing self-discipline and conscious discretion to trade without the fear of loss. In order to achieve success, day traders must utilize the trading techniques that they have learned and maintain the trading plan that they develop. The behavioral training system I have created, including hypnosis and other subconscious techniques, will help traders get over their fears and return to trading without anxiety.
On which of the following assumptions is the psychiatrist’s argument founded?
(A) All behavioral training includes degrees of hypnosis in order to modify the negative behavior of the participant.
(B) Hypnosis and other subconscious behavioral techniques can be applied to an activity that requires ongoing self-discipline and conscious discretion.
(C) All day traders develop fear after big losses, so all day traders struggle with utilizing their trading techniques and maintaining their trading plans.
(D) It is impossible for day traders to trade successfully without the modification of negative behavior through behavioral training.
(E) A successful trader does not begin trading without careful training in trading techniques and development of a trading plan.
On which of the following assumptions is the psychiatrist’s argument founded?
(A) All behavioral training includes degrees of hypnosis in order to modify the negative behavior of the participant.
(B) Hypnosis and other subconscious behavioral techniques can be applied to an activity that requires ongoing self-discipline and conscious discretion.
(C) All day traders develop fear after big losses, so all day traders struggle with utilizing their trading techniques and maintaining their trading plans.
(D) It is impossible for day traders to trade successfully without the modification of negative behavior through behavioral training.
(E) A successful trader does not begin trading without careful training in trading techniques and development of a trading plan.
14 Aug 2021, 02:00
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OFFICIAL EXPLANATION
Overview:
Question presents a statement from a psychiatrist concerning the use of behavioral training techniques for day traders. The psychiatrist notes that recovering from a loss and developing the self-discipline to trade again is one of the greatest challenges for day traders, and the psychiatrist claims that a specific behavioral training system (created by the psychiatrist) will be a great benefit to day traders who need to move past fear and trade with confidence. The question asks the student to select the answer choice that represents an assumption on which the psychiatrist’s argument is founded. The correct answer is not necessarily obvious right away, but the student should pay attention to two different comments that the psychiatrist makes: (1) day trading requires “self-discipline and conscious discretion,” and (2) the psychiatrist’s behavioral training system utilizes “hypnosis and other subconscious techniques.” In other words, the psychiatrist believes that it is possible to utilize subconscious techniques in a field requiring conscious self-discipline. The correct answer choice will reflect this.
The Correct Answer:
B Answer choice (B) correctly identifies the fact that the psychiatrist has developed a behavioral training system with subconscious techniques to use for traders, when their chosen field requires conscious self-discipline and activity. Answer choice (B) is correct.
The Incorrect Answers:
A The psychiatrist’s recommendation of behavioral training specifically mentions “hypnosis and other subconscious techniques,” but this does not in itself indicate that all behavioral training includes such techniques. Answer choice (A) infers too much, and it is certainly not the assumption on which the psychiatrist’s argument is founded. Answer choice (A) is incorrect.
C The psychiatrist indicates that recovering from losses is a significant concern for many day traders, but answer choice (C) generalizes too much by claiming that all day traders develop fear after big losses and that all have a difficult time maintaining their trading plans. Answer choice (C) may be eliminated.
D The psychiatrist indicates that behavioral training techniques can positively affect some or even many day traders, but it is assuming too much to argue that the psychiatrist believes day trading is impossible without behavioral training techniques. Answer choice (D) cannot be correct.
E Answer choice (E) paraphrases statements in the passage incorrectly by arguing that successful trades should begin a certain way. What is more, the fact that this might be true does not necessarily mean that it represents the assumption on which the psychiatrist’s argument is founded. Answer choice (E) indicates a side point rather than a main point, so it should be eliminated.
