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In a penetration test, each of the listed areas can be exploited, which is why the response indicating that all of the options are valid is appropriate.

Social engineering is a tactic used to manipulate individuals into divulging confidential information that may be used for fraudulent purposes. In penetration testing, social engineering can be exploited through techniques like phishing, pretexting, or baiting, aiming to reveal vulnerabilities in human behavior rather than technical systems.

File and directory permissions refer to the access controls set on files and folders within a system. Penetration testers often assess these permissions to discover improper configurations that could allow unauthorized access to sensitive data. Exploiting these vulnerabilities can lead to data breaches or system compromises.

Buffer overflows are a well-known software vulnerability that occurs when a program writes more data to a buffer than it can hold, potentially allowing an attacker to execute arbitrary code. In penetration testing, buffer overflow vulnerabilities are actively sought after and exploited for gaining control over systems.

Since each of these areas presents viable angles for exploitation during a penetration test, stating that all of the options are exploitable recognizes the comprehensive nature of testing and the various methods attackers may use. This holistic view is crucial in ensuring that security measures address a wide range of potential threats.