When installing vCenter 4.x, where are licenses maintained?

When installing vCenter 4.x, where are licenses maintained? (Choose two)

A.
In a license file on the vCenter Server machine

B.
Within the License Server

C.
In the vCenter Server Database

D.
On the ESX Host

Explanation:
Licenses are mainatined on separate license server. Lic server is required for legacy 3.0/3.5 hosts but 4.0 can also use separate licsnse server if required.
Licenses are also maintained on standalone hosts for host based management of licenses.