According to Wheelan the problem with the Value at Risk measure that contributed to the 2008 financial crisis was

Question

According to Wheelan, the problem with the Value at Risk measure that contributed to the 2008 financial crisis was

that:

Question options:

It wasn’t used widely enough to prevent risky behavior among most firms on Wall Street

It didn’t incorporate enough information about past market movements to be accurate

It didn’t account for the potential for catastrophic loss, however unlikely it was

All of the above

None of the above

Social Science