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If you don't know the formula you can get to it the following way:

Suppose w = 2, x = 3, y = 5 and z = 7. Then wxyz = 210.

To find out how many factors 210 has, go through different combinations of the prime factors as follows. You don't even need to calculate the answers but I have done so here:

(factor #1) 2
(factor #2) 3
(factor #3) 5
(factor #4) 7

(factor #5) 2 x 3 = 6
(factor #6) 2 x 5 = 10
(factor #7) 2 x 7 = 14
(factor #8) 2 x 3 x 5= 30
(factor #9) 2 x 3 x 7 = 42
(factor #10) 2 x 5 x 7 = 70

(factor #11) 3 x 5 = 15
(factor #12) 3 x 7 = 21
(factor #13) 3 x 5 x 7 = 105

(factor #14) 5 x 7 = 35

Since we are not including 1 and 210, answer = 14
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K = wxyz, where w, x, y, z are prime numbers. Not including 1 and K, how many factors does K have?

You need more information to answer the question. If w, x, y and z are distinct primes, then wxyz will have 16 positive factors in total (including 1 and wxyz), as Bunuel explained above. But the question doesn't say that the primes are distinct, and if two or more of the primes are equal, then wxyz will definitely have fewer than 16 positive factors.
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let k =2*3*5*7
total factors excluding 1 and k = (2*2*2*2)-2=14
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