The answer that is NOT accurate: "He instituted the Inquisition throughout the empire."
The Spanish Inquisition had been instituted by Ferdinand of Aragon and Isabella of Castille in 1478. Philip's reign in Spain came a century later, from 1556-1598.
The answer about "divine right to rule as an absolute monarch" is certainly true of Philip II, but we might want to be careful about assigning that idea as a Catholic idea only. In Philip's case, he certainly would have used it that way over against Protestant challengers. But in the course of history, rulers on both the Catholic and Protestant sides would subscribe to the idea of diving right monarchy.