The correct answer is 2. Most of the species that have ever lived on earth are extinct.
Fossil is termed as any preserved remains, trace or impression of once living thing from past geological age. A good example of fossils include, stone imprints of animals, objects preserved in amber, hair, petrified wood, exoskeleton, and shells.
The study of fossil is termed as paleontology together with evolutionary significance, method of formation, and age.
The process which leads to fossilization includes cats and molds, replacement, permineralization and carbonization.