Which of the following accurately describes peninsulares in Latin American society?

The term "peninsulares" refers specifically to individuals born in Spain who resided in the Spanish colonies of Latin America. In the colonial social hierarchy, peninsulares occupied the highest social class. This privileged position was due to their direct ties to Spain, a factor that granted them significant political and economic power compared to other groups, such as creoles (those of European descent born in the Americas), mestizos (people of mixed heritage), and indigenous populations. By understanding this context, it becomes clear that peninsulares were viewed as the elite in colonial society, often holding high-ranking officials and influential roles within the colonial administration, thereby reinforcing their status in contrast to other social classes.