Step 1: Understanding the Question:
This question asks us to identify if there is any grammatical error in the given three-part sentence, or to choose "No error" if the sentence is completely correct.
Step 2: Key Formulas and approach:
We need to verify several key grammatical structures:
1. The structure "One of the + superlative adjective + plural noun".
2. The subject-verb agreement for the subject "One".
3. Infinitive verb construction ("to qualify").
Step 3: Detailed Explanation:
$\bullet$ In Part (A), "One of the most talented" correctly initiates the superlative descriptive structure.
$\bullet$ In Part (B), "students" is a plural noun, which is correct because "one of" must choose from a plural group.
$\bullet$ In Part (B), the auxiliary verb is "has failed". "Has" is singular, which correctly agrees with the singular pronoun "One" (the true subject of the sentence).
$\bullet$ In Part (C), "to qualify for the examination" is a grammatically correct infinitive phrase.
$\bullet$ Since all components conform perfectly to the rules of English grammar, there is no error in the sentence.
Step 4: Final Answer:
The sentence contains no errors, making Option (D) the correct choice.