Value-At-Risk (VaR) Is Most Closely Defined as

Multiple Choice

Value-at-Risk (VaR) is most closely defined as

A) The probability of a specified level of negative return of a portfolio in the left tail of its profit-and-loss distribution.
B) The dollar loss at which a pre-specified cumulative probability occurs in the left tail of the profit-and-loss distribution.
C) The probability of a negative return below a specified threshold in the left tail of the distribution.
D) The negative return rate for which a pre-specified probability lies in the left tail of the distribution.