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1. If a financial company manages two uncorrelated investment funds, each with a daily Value at Risk - VaR at the 99% confidence level of

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1. If a financial company manages two uncorrelated investment funds, each with a daily Value at Risk - VaR at the 99% confidence level of $20 million, what is the total daily VaR at the 99% level for the whole firm? $28.28 million $40 million $20 million $40 million $28.28 million

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