Schweser exam 1 q 17.5

I always thought SAR refers to Shortfall, so if SAR @ 5% is 500m it means there is a 5% chance of a minimum shortfall of 500m. If i would want to measure asset base risk it would be VAR not SAr

Shortfall risk refers to a minimum return ( Percentage figure), VAR is a dollar amount (at risk).

errr i ment to say Surplus at Risk, sorry