08:48 (2X)
you just said in CFA we often use min prob to express VaR, but in this case, the example didn't follow this norm, it states that given prob is 5%, and it is called 95% one-day VaR. So should we adjust our basic assumption (of VaR often means the prob at left side) or regard this example as a mistake and a exception? thank! (sorry I can't type Chinese because I'm using the computor of my university which doesn't support Chinese)
