The statement 'the maximum one-day loss estimated using the value-at-risk (var) method is independent of the confidence level used' is false.
In the field of business, value-at-risk (var) can be described as an assessment method that is used to measure the risks that can occur in relation to a business or an investment.
The maximum one-day loss is dependent on the confidence level along with various other factors according to the value-at-risk approach. Hence, the statement above is false.
The more the confidence level, the lower the chances of a one-day loss. On the other hand, when the confidence level is lower, there will be maximum chances of a one-day loss to occur.
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