3.Which of the following are typically governance responsibilities of senior management?

I. Delegating its tolerance levels to risk managers.

II. Monitoring day-to-day performance of specific risk management activities.

III. Establishing a governance committee of the board.

IV. Ensuring that sufficient information is gathered to support reporting to the board.

a.

I, II and IV.

b.

II and III.

c.

I, II, III and IV.