Hi, in i) it asks for the differences between VaR and expected shortfall. In the solutions, it states: "The expected shortfall (also called "Tail Value at Risk" or TVaR)..." but in the course notes, it mentions that the Sweeting definitions will be used (hence the two are different). In the exam, should we adhere strictly to Sweeting's definitions (and his alternative expected shortfall definition)?
If you can I would stick to Sweeting, however as other sources use the terms more interchangeably, I would expect the examiners to accept other interpretations if there was a numerical question.
