Consider a bank that wants to have an amount of capital so that it can absorb unexpected losses corresponding to a firm-wide VAR at the 1% level. It measures firm-wide VAR by adding up the VARs for market risk, operational risk, and credit risk. There is a risk that the bank has too little capital because
A. It does not take into account the correlations among risks.
B. It ignores risks that are not market, operational, or credit risks.
C. It mistakenly uses VAR to measure operational risk because operational risks that matter are rare events.
D. It is meaningless to add VARs.