Which of the following statements about Statutory Accounting Principles is FALSE? I will up-vote the fast and accurately reliable answer

Insurers can fully recognize written premiums as earned revenue to minimize their insolvency risk.

Because SAP strives to disclose financial information related to insurer insolvency, the statutory income (loss) amounts on income statements are often unreliable indicators of insurer profitability.

Insurers can only include certain type of assets on their balance sheets, which are called admitted assets.

Underwriting expenses are recognized immediately to provide a conservative view of the insurers' insolvency risk.