Behavioral Finance

Author: Rob Stephens

CPE Credit:  5 hours for CPAs

Behavioral finance has shown that all people, even financial experts, are prone to making irrational and suboptimal financial decisions. It also explores how people have wants that extend far beyond traditional finances' assumption of wanting the highest return at the lowest risk. We are not perfectly rational economic robots; we are easily driven by many wants and emotions while working with limited time, knowledge, and energy.

This course explores many of the thinking errors and biases exhibited by all people, even the experts. You'll be able to identify the nonfinancial wants that drive the financial decisions of your clients. We'll then identify ways to improve financial decision-making in the contexts of personal financial planning and business financial management.

You'll learn from an author that teaches these concepts to MBA students at a university as well as to business advisors and staff. He is a CPA that's been a CFO of multiple companies. Rob also has a master's degree in personal financial planning and a graduate certificate in financial therapy. He served as program manager for a group of investment advisors.

This course will lead you from foundational finance concepts to practical applications in both personal finance and business finance.

Publication Date: March 2023

Topics Covered

  • The Emergence of Behavioral Finance
  • How We Think
  • Biases and Heuristics
  • Applications of Behavioral Finance

Learning Objectives

  • Recognize common behavioral finance biases and heuristics
  • Identify ways to reduce thinking errors caused by biases and heuristics
  • Identify differences between traditional finance and behavioral finance
  • Identify negative financial impacts of finance biases and heuristics


Instructional Method

NASBA Field of Study
Finance (5 hours)

Program Prerequisites

Advance Preparation

Registration Options
Regular Fee $107.00

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