Question: You are a risk analyst and it is your task to derive VaR (Value at Risk) for your position/asset exposure. Critically discuss and evaluate the

You are a risk analyst and it is your task to derive VaR (Value at Risk) for your position/asset exposure. Critically discuss and evaluate the implications for VaR if returns are not normally distributed. Or more generally, for any type of analysis, what are the possible impacts of non-normality of returns?

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