Statement: "Bring your education dreams to life. Avail a student loan today and start repayment only when you begin earning." — an advertisement by Bank XYZ. Assumptions: I. Students who need loans prefer flexible repayment options (such as repayment after employment), besides low or zero processing charges. II. Students who need loans prefer loans without collateral security.

Introduction / Context:
The bank targets students by highlighting a deferred-repayment feature (“pay when you start earning”). The persuasive hook is timing flexibility, easing cash-flow while studying. We must identify which assumptions are necessary for this appeal to work.

Given Data / Assumptions:

• Feature: repayment begins after employment.
• Audience: students needing finance for education.
• I: students prefer flexible repayment timing.
• II: students prefer no collateral.

Concept / Approach:
The ad’s core value proposition is timing flexibility. It does not mention collateral; it could be secured or unsecured. Therefore, the only necessary assumption is that deferred repayment is attractive to students (I).

Step-by-Step Solution:
1) If I were false (students did not value timing flexibility), the ad’s pitch would fail.2) If II were false (collateral is required or not a top preference), the ad can still be persuasive because it sells repayment timing, not security terms.3) Hence, only I is needed.

Verification / Alternative check:
Deferred repayment aligns with typical student cash-flow constraints; many global student-loan schemes use similar design.

Why Other Options Are Wrong:
Options invoking II add a feature not referenced and not required for the ad’s logic.

Common Pitfalls:
Assuming every desirable loan feature (no collateral, low rates) is implicitly claimed; focus on the explicit selling point.

Final Answer:
Only assumption I is implicit.