Which of the following about Expected Shortfall is TRUE? Select one or more: a. The Expected Shortfall (ES) is a measure of market risk that estimates the expected losses beyond a given confidence level. b. For situations in which probability distributions exhibit fat tail losses, expected shortfall (ES) may look relatively smallbut value at risk (VAR) may be very large. c. The use of expected shortfall (ES) to measure market risk of a portfolio assumes that the probability distribution is skewed to the left. d. All of the options