Identify which of the following statements regarding money market deposit accounts $($MMDAs$)$ are NOT correct.

I. They are FDIC insured.

II$.$ They offer unlimited check writing privileges.

III. They are primarily offered by open$-$end investment companies.

IV$.$ They require a minimum balance.

Question $16$ options:

a$)$

II and III

b$)$

I and II

c$)$

I and IV

d$)$

III and IV