Explanation:
The sentence says "By the end of the next semester", meaning in the future and completed by that time.
This hints at future perfect tense (something that *will have been completed* by a certain future time).

Now, looking at the options:
- A. would have completed — conditional, not the best here.
- B. will be completing — future continuous (ongoing action), not completion.
- C. shall have completed — future perfect (correct tense for completed action in future).
- D. was completing — past continuous, wrong tense.
- E. must complete — modal verb, not future perfect.

Therefore, the correct answer is C. shall have completed.

Full sentence:
By the end of the next semester, he *shall have completed* his University education.

(Though in modern English, "shall" is less common, especially in American English; people often say "will have completed" — but for your exam, C is the best.)

Want me to show you a simple trick to recognize "future perfect" next time?