Select the option that expresses the given sentence in passive voice.

The board of directors has approved the new policy framework.

The correct answer is: The new policy framework has been approved by the board of directors.

Step-by-step explanation:
1. Identify the structure of the given sentence:
The given sentence is in the Active Voice and uses the Present Perfect Tense:
• Subject: The board of directors
• Verb phrase: has approved (has + V3 form of the verb)
• Object: the new policy framework

2. Understand the Active-to-Passive conversion rule for Present Perfect Tense:
• Active Voice structure: Subject + has / have + V3 + Object
• Passive Voice structure: Object + has / have + been + V3 + by + Subject

3. Formulate the Passive Voice sentence:
• Move the active object to the subject position: "The new policy framework".
• Since "The new policy framework" is singular, use the auxiliary phrase has been.
• Keep the past participle form of the main verb: approved.
• Add the preposition phrase: "by the board of directors".

Combining these components yields the correct passive sentence:
"The new policy framework has been approved by the board of directors."