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Extreme value theory (EVT) can assist with value-at-risk (VAR) calculations by providing better probability estimates of observing extreme losses than that indicated by a standard normal distribution because: A. the observed empirical distribution of most asset returns tends to be platykurtic. B. extreme losses appear to occur less frequently than indicated by a normal distribution. C. EVT is the most efficient method for estimating extreme losses. D. extreme losses appear to occur more frequently than indicated by a normal distribution. |