Answer would be 3) It minimizes the number of collision, because The most important property of hash function is that it should uniformly distribute the keys so that less number of collision occurs. (Refer CLRS).
Now Comes to Other options.
1) It minimizes the rate of overflow: Overflow is not property of the hash function, I mean its a choice made by the programmer to choose the size of hash table. If No of keys > No of slots then there will be overflow but if No of keys < no of slot then there will be collision but not overflow.
2) It preserve the order of key value: No not at all. It does not preserve order of key. Its not at a characteristics or even a considerable point in hashing.