Statement I is incorrect because the primary follicles, when surrounded by more layers of granulosa cells and a theca, are called secondary follicles. However, the secondary follicles then transform into tertiary follicles, which is characterized by a fluid-filled cavity called antrum. Therefore, the statement is not accurate as it incorrectly describes the transition from primary to secondary follicle. Statement II is correct as the Graafian follicle does rupture to release the secondary oocyte from the ovary, a process known as ovulation.