VaR is the potential worst case loss at a specific confidence level over a certain period of time. True?

Value at Risk; Yes, its true, for general explanation

A statistical technique used to measure and quantify the level of financial risk within a firm or investment portfolio over a specific time frame. Value at risk is used by risk managers in order to measure and control the level of risk which the firm undertakes. The risk manager's job is to ensure that risks are not taken beyond the level at which the firm can absorb the losses of a probable worst outcome.

Agree with Malik.........

True. I absolutely agree with Mr. Krishna on Value at Risk, what's the worst case scenario for this investment?

I agree with the answers to colleagues

VALUE AT RISK (VaR)

What is the most I can lose on this investment? This is a question that almost

every investor who has invested or is considering investing in a risky asset asks at some

point in time. Value at Risk tries to provide an answer, at least within a reasonable bound.

In fact, it is misleading to consider Value at Risk, or VaR as it is widely known, to be an

alternative to risk adjusted value and probabilistic approaches.

In its most general form, the Value at Risk measures the potential loss in value of

a risky asset or portfolio over a defined period for a given confidence interval.

I agree with answer give by Mr. VENKITARAMAN KRISHNA MOORTHY VRINDAVAN.