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Level 13 · ◆◆◆◆ · ~12 min

Backtesting: Keeping the Model Honest

The day of reckoning, daily.

"A VaR model makes a testable promise every single day. Backtesting collects."

exceptionsexpected exception rateKupiec testBasel traffic lightsexception clustering
🚀 You're jumping ahead. This builds on Historical Simulation: Let the Past Speak · Monte Carlo: Manufacturing Futures — but play it now and you'll still earn full XP. If it feels steep, those make a gentler on-ramp.

A short lesson, then a quiz. ❤️×3 — a wrong answer costs a heart; finish with at least one left and the level is yours. Lose all three and you'll have to try again. Replay any time — XP and cleared levels are never lost.