Which of the following statements about the regulation of life insurance companies is $($are$)$ true?

I. The percentage of assets a life insurance company may invest in a specific type of asset $($e$.$g$.,$

stocks or bonds$)$ is generally limited by law.

II$.$ The purpose of limiting the accumulation of surplus is to prevent an insurer from increasing its

surplus at the expense of policyowner dividends.

Group of answer choices

I only

neither I nor II

both I and II

II only

Not