Risk: you portfolio at the end of the day shows a VaR $(1$d horizon, $95\%$ confidence$)$ of $-$$$22,515$

This means that....

Question $8$ options:

On the average, I$\text{'}$d expect to make about $$23$k from this portfolio each and every day

My portfolio would be riskier if the VaR $($calculated the same way$)$ came back at around $-$$$12,150$

I should expect a daily loss of $$23$k or more about once a month $(5\%$ of the time, $200$ trading days in the year, so $10$ times a year$)$

I don't believe in VaR