__Question 1__

"Expected shortfall assigned a probability based weight to all loss levels greater than VaR"

Consider the insurance contract example from the previous section, from

**one**VaR confidence level

**two**probabilities are shown i.e. 0.0064% and 0.9936% for ES calculation for the combined contracts.

1. Are these probabilities what is refered to as "probability based weight"?

__Question 2__

"If and only if the weights are a non decreasing function of the percentile of the loss distribution"

If I take the insurance contract example again from the previous section the probability based weight based on a 99% confidence percentile is 99.9936% - 99% = 0.9936% for the 21 mn loss but if we switch to a 99.5% confidence then the probability based weight drops to 99.9936% - 99.5% = 0.4946%.

1. Is this what is mean by weights being a function of the percentile?

2. How can you achieve a non decreasing weight?

__Question 3__

The figure 1.8 shows the weight for the expected shortfall measure at 10. How is this value computed?