This paper is the first to structurally model how a test taker answers questions in a multiple choice exam. We allow for the possibility of a penalty for a wrong answer which makes risk averse ...

Remember that the test maker must be able to defend the correct answer and defend the claim that the other three answers are wrong. With multiple-choice questions, only one of the answers can be ...

Whether it's an entrance exam for college, grad school, law school, med school, or just an in-class quiz in college or high school, there are a few simple tools that psychology can offer you to help ...