The Three Lines Model distinguishes among three groups as follows:I. Functions that own and manage riskII. Functions that oversee riskIII. Functions that provide independent assuranceIV. Functions that prove risk mitigation servicesV. Functions that deliver riskWhich of the following are examples of the three lines of defense?

The Three Lines Model, also known as the Three Lines of Defense Model, is a risk management framework. It distinguishes between three groups or "lines" of defense against risks:

1. Functions that own and manage risk: This is the first line of defense. It includes operational management and other employees who deal with risks as part of their day-to-day activities. They are responsible for identifying, assessing, and managing risks within their areas of responsibility.

2. Functions that oversee risk: This is the second line of defense. It includes risk management and compliance functions that are established by management to help build and monitor the first line of defense controls, ensure they are functioning as intended, and identify and report on risk.

3. Functions that provide independent assurance: This is the third line of defense. It includes internal audit and other functions that provide the board and senior management with assurance that the first and second lines of defense are operating effectively.

So, the examples of the three lines of defense are:

I. Functions that own and manage risk II. Functions that oversee risk III. Functions that provide independent assurance

The options IV. Functions that prove risk mitigation services and V. Functions that deliver risk are not part of the Three Lines Model.