Step 1: Separate the four claims into their subject areas.
Statement I is about nomenclature rules, II is about how a species is defined, III is about coelom based classification, and IV is about a physiological term, so each needs to be checked on its own footing.
Step 2: Check the definition based statements first.
A species is recognised as a group of organisms that can actually or potentially interbreed and produce fertile offspring, that is a reproductive unit above all. Simply sharing a similar karyotype does not by itself make a population a species, so statement II overstates the case and is not correct.
Step 3: Check the classification and terminology statements.
Grouping Annelida, Arthropoda and Mollusca purely as schizocoelomates glosses over the fact that the mollusc coelom is greatly reduced and the body cavity is mostly a haemocoel, so clubbing all three together the way statement III does is not accurate. Meanwhile the tautonym rule in statement I and homeostasis in statement IV hold up fine once read carefully.
Final answer: Option 3, statements II and III are the incorrect ones.