Based on your description of the scatterplot, it seems that there is one cluster of data points between 1 to 4.5 hours studied and test grades between 77 and 98. Additionally, there is one point plotted at 0.5 hours studied and a test grade of 45, which may be considered an outlier since it lies outside of the main cluster.
Therefore, the characteristics of the graph are best represented by the first option: There is one cluster and one outlier.