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Hello, In reviewing the Part 2 Formula sheet, I had a question regarding the ES calculation on page 21. It appears that ES is calculated by summing from the confidence level of interest and up and dividing by not "n" but "n-1" VaR points. Why is this not calculated by dividing by "n" points...

Hi, I was wondering if on the exam we are required to know how to calculate standard errors assuming both homoskedasticity and heteroskedasticity for linear regression. Is there a formula for the latter? If not, I assume we just need to understand when to use robust standard errors (when...