SYS_REFCURSOR is a pre-defined weak REF CURSOR type that can be used to declare cursor variables in stored procedures and functions, making option B correct. REF CURSOR return types can be declared using %TYPE, %ROWTYPE, or user-defined records, making option C correct. Option A is incorrect because REF CURSOR types can be defined inside packages. Option D is incorrect because both weak and strong REF CURSOR types can be used as formal parameters.