Magnetic and acidic properties of nitric oxide
$$\ce{2NO + O2 → 2NO2}$$
Nitric oxide reacts with oxygen to produce nitrogen dioxide. This reaction takes place quickly at room temperature in air. (chemiday)
The bond order in $\ce{NO}$ is 2.5
The oxidation state of $\ce N$ is +2, and this is a colourless, paramagnetic gas (ie. it is a radical, or contains an unpaired electron). (source)
Neutral oxides are those oxides which show neither basic nor acidic properties when they react with water. Examples include carbon monoxide $(\ce{CO})$ and nitrous oxide $(\ce{N2O})$ which are only slightly soluble in water, and nitric oxide $\mathbf{(NO)}$ which is appreciably soluble in cold water. (source)


So, option 3 is the correct answer as it is an inaccurate statement.