Which one of the following statements regarding Panel of Speaker/Chair

Which one of the following statements regarding Panel of Speaker/Chairman, Lok Sabha/Rajya Sabha is correct ?

It is from the list of Panel of Chairman, Speaker/Vice President appoints the Chairman of various Parliamentary Committees.
Panel of Speaker/Chairman of Lok Sabha/Rajya Sabha is constituted by the President.
A member of the Panel of Speaker who presides over the House while both the Speaker and Deputy Speaker are absent has the same powers of the Speaker while presiding over the House.
A Panel of Speaker is constituted for each session of Lok Sabha.
This question was previously asked in
UPSC SO-Steno – 2017
The correct option is C) A member of the Panel of Speaker who presides over the House while both the Speaker and Deputy Speaker are absent has the same powers of the Speaker while presiding over the House.
The Speaker nominates a panel of not more than ten members (in Lok Sabha) who can preside over the House in the absence of the Speaker and Deputy Speaker. Similarly, the Chairman nominates a panel of Vice-Chairmen in Rajya Sabha. Rule 9(1) of the Rules of Procedure and Conduct of Business in Lok Sabha states that such a member has the same powers as the Speaker when presiding over the sitting.
The Panel is nominated at the commencement of the House or from time to time. The members from the Panel preside in the order of precedence fixed by the Speaker. They do not lose their right to speak or vote when presiding, unlike the Speaker/Chairman.