Question: a) Define operational risk [20 marks] b) Why are operational risk capital requirements difficult to estimate under the AMA approach? In writing your answer you

a) Define operational risk [20 marks] b) Why are operational risk

a) Define operational risk [20 marks] b) Why are operational risk capital requirements difficult to estimate under the AMA approach? In writing your answer you should discuss loss frequency, loss severity, data limitations and the number of calculations necessary [80 marks]

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