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Which of the following statements is least likely accurate regarding the challenges of validating operational loss models? A. Operational loss data is so sparse that estimates are very sensitive to including or removing even a single observation. B. It will not be possible to adequately judge the predicative ability of the model based on existing operational loss observations. C. It is not practical to wait for additional annual observations, even across several banks, to approach the 1,000-year mark to fit the 99.9% Basel mandate. D. Models are an abstract from reality that need internal verification. |