Which of the Following Statements Regarding Risk Measures Is INCORRECT

Multiple Choice

Which of the following statements regarding risk measures is INCORRECT?

A) A risk measure is a positive real valued function that quantifies the "risk" to changes in a firm's equity capital-losses-over some time period.
B) Examples of risk measures include the maximum loss,the expected loss,and the value-at-risk.
C) Artzner,Delbaen,Eber,and Heath (1999) identified four different properties or axioms that a good risk measure should satisfy.
D) A risk measure satisfying Artzner,Delbaen,Eber,and Heath (1999) four axioms is called a coherent risk measure.
E) Value-at-risk is the best risk measure because it satisfies all four properties above.