1) A bank analyst decides to use a basic historical simulation to calculate the historical VaR of his portfolio. The losses are ranked below from highest to lowest for 500 possible scenarios. What is the ten-day VaR at a 99% confidence level? Loss ($) Scenario Number 253 451 321 195 88 2 4 225 115 25 359 400 103 1,300,000 1,251,000 1.123,000 959.000 938,000 864,000 823,000 754.000 723,000 540,000 525.000 425,000 395,000 BV 13 W Word 3,551,238 3,032,624 Conad mis By