The IP Exclusion tool allows advertisers to:

The IP Exclusion tool allows advertisers to:

• Obtain IP addresses for valuable website visitors.
• Determine which IP addresses have seen ads.
• Discover IP addresses of competitors.
• Prevent specific IP addresses from seeing their ads.

Correct Answer is:

Prevent specific IP addresses from seeing their ads.

Explanation:

You can exclude Internet Protocol (IP) addresses by campaign so that all ads in that campaigns are blocked from computers and networks associated with those addresses. IP addresses can appear in different versions, so make sure you use all versions of the IP address you’d like to exclude

URL: https://support.google.com/adwords/answer/2456098?hl=en