Chartered Financial Analyst Level 2
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Given a 5% daily VaR of $20 million, which of the following statements is most accurate?
Given a 5% daily VaR of $20 million, which of the following statements is most accurate?
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A
The expected daily loss is $1 million
B
There is a 5% chance of losing $20 million over one day
C
A minimum daily loss of $20 million is expected to occur once every 20 days
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