I chose the third answer and I got it marked wrong. Please explain why this is wrong and what is the correct answer. Which of the following is a risk factor managed by depository financial institutions? $[$I$]$ Regulatory risk $[$II$]$ Liquidity risk $[$III$]$ Default risk $[$IV$]$ Interest rate risk

$1)$I$,$ II$,$ and III

$2)$I$,$ III, IV

$3)$II$,$ III

$4)$All of the above

$5)$None of the above