The correct answer is option 1, the pituitary gland. The pituitary gland is often referred to as the "master gland" because it releases hormones that control other endocrine glands. It primarily functions as an endocrine gland, secreting hormones directly into the bloodstream to regulate various processes in the body.

On the other hand, the pancreas, option 2, acts as both an exocrine gland and an endocrine gland. It secretes digestive enzymes into the small intestine as an exocrine gland, while also producing insulin and glucagon as endocrine hormones that control blood sugar levels.

Similarly, the testis, option 3, and ovary, option 4, also have dual functions. They are responsible for producing reproductive cells (sperm and eggs) as exocrine glands, and they also secrete hormones such as testosterone and estrogen as endocrine glands.

It`s important to note that while the provided answer is generally correct, the phrasing of the question implies that there could be more than one correct answer. Both options 2 and 1 could be considered correct depending on the interpretation of the question.