The parts of human brain that helps in regulation of sexual behaviour, expression of excitement, pleasure, rage, fear etc. are:

Limbic system and hypothalamus

The correct answer is Option (4) - Limbic system and hypothalamus

The forebrain consists of cerebrum, thalamus and hypothalamus.

Cerebrum forms the major part of the human brain. A deep cleft divides the cerebrum longitudinally into two halves, which are termed as the left and right cerebral hemispheres. The hemispheres are connected by a tract of nerve fibres called corpus callosum. The layer of cells which covers the cerebral hemisphere is called cerebral cortex and is thrown into prominent folds. The cerebral cortex is referred to as the grey matter due to its greyish appearance. The neuron cell bodies are concentrated here giving the colour. The cerebral cortex contains motor areas, sensory areas and large regions that are neither clearly sensory nor motor in function. These regions called as the association areas are responsible for complex functions like intersensory associations, memory and communication. Fibres of the tracts are covered with the myelin sheath, which constitute the inner part of cerebral hemisphere. They give an opaque white appearance to the layer and, hence, is called the white matter.

The cerebrum wraps around a structure called thalamus, which is a major coordinating centre for sensory and motor signaling.

Hypothalamus lies at the base of the thalamus. The hypothalamus contains a number of centres which control body temperature, urge for eating and drinking. It also contains several groups of neurosecretory cells, which secrete hormones called hypothalamic hormones. The inner parts of cerebral hemispheres and a group of associated deep structures like amygdala, hippocampus, etc., form a complex structure called the limbic lobe or limbic system. Along with the hypothalamus, it is involved in the regulation of sexual behaviour, expression of emotional reactions (e.g., excitement, pleasure, rage and fear), and motivation.