Explanation:

Correct option:2

Given that 

LIST: JNGKQURV :: MOAN: KOMQYCLP :: PLUM: ?

 so the pattern followed in the given series is:

The alphbets are increased and decreased to 2 posional value

L(12) -2+2 gives JN

I(9) -2+2 gives GK

S(19) -2+2 gives QU

T(20) -2+2 gives RV

Similarly 

P(16) -2+2 gives NR

L(12) -2+2 gives JN

U(21)  -2+2 gives SW

M(13)  -2+2 gives KO

Hence NRJNSWKO is the correct answer