Step 1: Understanding the Concept:
The menstrual cycle involves complex hormonal changes controlling the maturation of the ovum and the preparation of the uterine lining (endometrium).
Step 2: Detailed Explanation:
- (i) Incorrect: The start of menstruation at puberty is termed "menarche," not menopause.
- (ii) Incorrect: Ovulation occurs on day 14 due to an LH surge; progesterone levels reach their maximum in the luteal phase, after ovulation.
- (iii) Correct: If fertilization does not occur, the corpus luteum degenerates, leading to a drop in progesterone and the shedding of the endometrium (menstruation).
- (iv) Correct: The permanent cessation of the menstrual cycle, known as menopause, typically occurs in human females around the age of 50.
Step 3: Final Answer:
The correct statements are (iii) and (iv). Therefore, the correct option is (D).