Which of the following is NOT a TMMi level 2 Process Area?

Peer Reviews is NOT a TMMi Level 2 process area. Peer Reviews is a process area at TMMi Level 3. At Level 3, organizations formalize their testing processes, including peer reviews, which involve static testing activities like inspections and walkthroughs to identify defects early.

Test Policy and Strategy, Test Monitoring and Control, and Test Environment are all process areas at TMMi Level 2.

TMMi References:

Peer Reviews are introduced at TMMi Level 3, whereas Test Policy and Strategy, Test Monitoring and Control, and Test Environment are process areas at Level 2​​.