Value at Risk $($VaR$)$ and Expected Shortfall $($ES$)$ aims to provide a single number that summarise the total risk of the portfolio.TRUEFALSEBacktesting for Expected Shortfall $($ES$)$ is easier than for Value at Risk $($VaR$).$TRUEFALSEThe historical simulation involves the use of todays data as a guide to what will happen in the future.TRUEFALSEPeriods of high volatility in the market will tend to give higher values for Value at Risk $($VaR$)$ and Expected Shortfall $($ES$).$TRUEFALSEAn advantage of the Monte Carlo simulation is that it does not have to assume that risk factor returns are normally distributed. TRUEFALSE