Step 1: Understand the basis of Crystal Field Theory (CFT).
Crystal Field Theory explains the interaction between a central metal ion and surrounding ligands using electrostatic concepts.
According to CFT, ligands are treated as point charges or point dipoles that create an electric field around the metal ion.
The theory mainly explains splitting of \(d\)-orbitals in different geometries and the resulting properties of coordination compounds.
Step 2: Analyze Statement I.
I. Ligands as point charges
This is actually an assumption of Crystal Field Theory and not a phenomenon explained by the theory.
Therefore, statement I is not included among the properties successfully explained by CFT.
Step 3: Analyze Statement II.
II. Formation and structures of complexes
Crystal Field Theory helps explain geometries and structures such as:
Octahedral
Tetrahedral
Square planar
Thus, statement II is correct.
Step 4: Analyze Statement III.
III. Colour
CFT explains colour in coordination compounds due to \(d-d\) electronic transitions between split \(d\)-orbitals.
When light of suitable energy is absorbed, electrons jump between crystal field split levels, producing colour.
Hence, statement III is correct.
Step 5: Analyze Statement IV.
IV. Magnetic properties
CFT explains magnetic behavior based on the number of unpaired electrons present after crystal field splitting.
It helps distinguish between:
High spin complexes
and
Low spin complexes
Therefore, statement IV is correct.
Step 6: Analyze Statement V.
V. Covalent character of metal-ligand bonding
Crystal Field Theory does not explain covalent bonding between metal and ligands because it treats bonding as purely electrostatic.
The covalent character is explained better by:
Valence Bond Theory (VBT)
and
Molecular Orbital Theory (MOT)
Hence, statement V is incorrect.
Step 7: Select the correct statements.
The correct statements are:
\[
II,\;III,\;IV
\]
Thus, the correct option is:
\[
(2)\; II,\;III,\;IV\;only
\]
Step 8: Final conclusion.
Hence, the correct answer is:
\[
\boxed{(2)\; II,\;III,\;IV\;only}
\]