All of the following is true regarding ULIPs except I. Unit Holders can choose between different kind of funds. II. Life insurers provide Guarantee for all unit values. III. Units may be purchased by payment of single premium or via regular premium payments. IV.ULIP policy structure is transparent with regards to insurance expenses components. Insurance business in India is regulated by -which of the following authorities?

• A.  NFCG             
• B.  IRDAI
• C.  CII                              
• D.  FICCI
• E.  All of the above