Answer:
According to the research methodology, a set of observation leads to the formulation of a hypothesis. However, a hypothesis can be formulated through literature research or by looking into real world's problems. The hypothesis is then tested using a strict research criteria, and if proven, it becomes a theory.
In this case, a researcher made a hypothesis that people who exercise will do better on a specific test as compared to the people who don't exercise. This hypothesis is based on his literature review and should be tested. There are no conditions given for the test, nevertheless, it doesn't provide enough information to be called as a theory or scientific law.