10. A risk manager states that the VaR of the portfolio at 99% confidence interval and 1-day holding period is $2 million. Which of the following statement is TRUE? A. The daily loss on the portfolio will exceed $2 million 99% of time. B. The daily loss on the portfolio will not exceed $2 million 99% of time. C. The maximum loss that the portfolio can incur is $2 million at any point in time. D. 99% of risk managers will agree that the maximum loss on the portfolio will be $2 million