PRMIA 8008 Question Answer
Which of the following statements are true with respect to stress testing:
I. Stress testing results in a dollar estimate of losses
II. The results of stress testing can replace VaR as a measure of risk as they are better grounded in reality
III. Stress testing provides an estimate of losses at a desired level of confidence
IV. Stress testing based on factor shocks can allow modeling extreme events that have not occurred in the past
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