Question: Where an existing static model is believed to be appropriately structured for risk modelling purposes, such models may need other (non-simulation) procedures to be run,

Where an existing static model is believed to be appropriately structured for risk modelling purposes, such models may need other (non-simulation) procedures to be run, some of which may (for a static model) be run manually, and others may involve automated (macro) procedures. Discuss this view giving real life examples. (15 marks)

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