Exchange$-$traded funds $($ETFs$)$ generally offer which of these?

I. Tax efficiency

II$.$ Low expense ratios

III. Active professional management

IV$.$ Marketability

Question $2$ options:

a$)$

I, II$,$ and IV

b$)$

I and II

c$)$

I, II$,$ and III

d$)$

I, II$,$ III, and IV