For the same portfolio, and with the same parameters h and alpha, which of the following statement is TRUE regarding the comparison of VaR estimates from different models?

Group of answer choices

The normal VaR can be greater or less than the other VaR estimates, depending on the alpha

The Monte Carlo VaR based on a anormal distributon will always be greater than the normal VaR

The Monte Carlo VaR should be equal to the historical VaR for a linear model (the only difference is due to simulation error)

The historical VaR is greater than the normal VaR when h is large