Question 8: An internal risk report states that the 5% 1-day VaR (Value at risk) of a bank is $20mn. The most correct interpretation of this number is: The bank should expect to never lose more than $20mn/5% = $400rnn per day. The bank should expect to lose an average of $201nn per day 5% of the time. The bank should expect to make more than $20mn per day 95% of the time. The bank should expect to lose more than $20mn per day only 5% of the time. None of the answers. 9:19:71