Which of the following statements is true?

a.

VaR corresponds to a specific point of loss on the probability distribution. It does not provide information about the potential size of the loss that exceeds it.

b.

All of the listed options are correct.

c.

VaR completely ignores the patterns and the severity of the losses in the extreme tail.

d.

VaR gives only partial information about the extent of possible losses, particularly when probability distributions are non-normal.