Explanation:

- Statement I: Rolling friction is generally less than sliding friction. This is because rolling involves less surface area in direct contact compared to sliding. Hence, statement I is incorrect.

- Statement II: The frictional force exerted by fluids is indeed called drag. This is a common term in fluid dynamics, where drag opposes the motion of an object through a fluid. Thus, statement II is correct.

- Option 1: Incorrect, as only statement I is correct, which it isn't.

- Option 2: Incorrect, because statement II is correct.

- Option 3: Incorrect, since statement I is false.

- Option 4: Correct, because only statement II is true.

Option 4 - Only II is correct