The members of the board of directors should have which of the following responsibilities related to risk management:
　　I.The board must approve the firm';s risk management policies and procedures.
　　II.The board must be able to *uate the performance of risk management activities.
　　III.The board must maintain oversight of risk management activities.
　　A.I and II only
　　B.II and III only
　　C.I and III only
　　D.I, II, and III
　　Answer: D
　　The boards of directors for banks have responsibility for:
　　(1) approval of risk management policies and procedures,
　　(2) ensuring that operating managers have the requited technical capabilities,
　　(3) *uating performance of risk management activities, and
　　(4) maintaining oversight of risk management activities.