Although
its policy for honorary doctorates was not dissimilar to Cambridge or Oxford — they gave awards to the “distinguished” in particular fields, and the person had to be “widely recognized” — it is clear that the universities were drawn to the entertainment industries to produce visible personalities for their convocation ceremonies, and the idea of “widely recognized” trumped any other distinction.
(A) its policy for honorary doctorates was not dissimilar to - here policy is being compared to Cambridge. Irrelevant.
ELIMINATED(B) their policies for awarding honorary doctorates were not dissimilar to those of - Only
CORRECT choice
(C) their policies for honorary doctorates was not dissimilar from - "policies" --> "was" pronoun error.
ELIMINATED(D) its policy for honorary doctorates was very similar to - here policy is being compared to Cambridge. Irrelevant.
ELIMINATED(E) its policies for awarding honorary doctorates was very similar to that of - "policies" --> "was" pronoun error.
ELIMINATEDOPTION:
B