Which of the following is NOT a CPL privilege?

The privileges associated with a Commercial Pilot License (CPL) include a wide range of capabilities that enable a pilot to operate aircraft for commercial purposes. Among these privileges, pilots can serve as pilot in command or co-pilot in commercial air services and conduct flight instruction duties.

When considering the fourth option, conducting all-night operations is not inherently limited by CPL privileges; however, the operation of an aircraft at night may require additional qualifications or endorsements, such as an instrument rating or a night flying endorsement, depending on the specific regulations in place. While night operations themselves are not prohibited, they are typically associated with the need for additional training to ensure safety and compliance with aviation regulations.

Thus, the reason conducting all-night operations is not classified as a direct privilege of a CPL is that it encompasses broader training and requirements that go beyond the basic scope of the CPL alone. The license primarily focuses on the ability to act as a pilot in command or co-pilot in commercial flights and instructional roles.