Question: please help 3. Value at Risk (8): a. What does a 1 day - 99% - Value at Risk mean, when the risks of financial

please help

please help 3. Value at Risk (8): a. What does a
3. Value at Risk (8): a. What does a "1 day - 99% - Value at Risk" mean, when the risks of financial assets or portfolios are quantified? b. What is the difference between "Value at Risk" and "Expected Shortfall"? Which will usually result in a higher risk measure? Why

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