The correct answer is option 1: "1 and 2 only."

Let`s examine each statement to understand why this is the correct answer:

Statement 1: "Glass wool has tensile strength greater than wool."

Glass wool is known for its high tensile strength, which means it can withstand pulling forces without breaking. In comparison, wool does not have the same level of tensile strength as glass wool.

Statement 2: "Glass wool is fireproof."

Glass wool is a non-combustible material, meaning it does not catch fire easily and does not support the spread of flames. This makes it a popular choice for insulation in buildings and fire-safety applications.

Statement 3: "Glass wool has high electrical conductivity and absorbs moisture."

This statement is incorrect. Glass wool is actually a poor conductor of electricity, and it does not absorb moisture. It is a moisture-resistant material, which means it does not retain water or allow moisture to seep through easily.

Statement 4: "Glass wool is used to prepare fiber."

This statement is incorrect. Glass wool itself is a type of fiber, not used to prepare it.

Therefore, only statements 1 and 2 are correct, making option 1 the correct answer.