FRM一级模拟自测:Statements about risk management at LTCM

The collapse of Long Term Capital Management(LTCM)is a classic risk management case study.Which of the following statements about risk management at LTCM is correct?
a.LTCM had no active risk reporting.
b.At LTCM,stress testing became a risk management department exercise that had little influence on the firm’s strategy.
c.LTCM’s use of high leverage is evidence of poor risk management.
d.LTCM failed to account properly for the illiquidity of its largest positions in its risk calculations.