Which statement regarding fully insured Section $412($e$)(3)$ plans is FALSE?

A$)$

This type of plan is not required to be certified by an enrolled or licensed actuary.

B$)$

A fully insured plan is inappropriate for an employer with fluctuating cash flows.

C$)$

A Section $412($e$)(3)$ plan is a type of defined benefit plan.

D$)$

Section $412($e$)(3)$ plans must meet minimum funding standards each plan year.