COD (Chemical Oxygen Demand) is a measure of the amount of oxygen required to oxidize organic compounds in water. A low COD value indicates that the water has a low concentration of organic pollutants, which typically means the water quality is good, or high. Hence, when the COD value is low, it implies that the water has high quality.
Step 1: Analyze the options.
(A) The level of quality of water is low: This is incorrect. A low COD value reflects less organic contamination, implying better water quality.
(B) The level of quality of water is high: This is correct. A low COD value means that there are fewer pollutants, which indicates high water quality.
(C) The level of quality of water is medium: This is incorrect. A low COD value indicates that the water is cleaner than medium-quality water.
(D) None of above: This is incorrect, as option (B) correctly describes the situation.
Step 2: Conclusion.
The correct answer is (B) since a low COD value indicates high water quality.
Final Answer:
\[
\boxed{(B) \, \text{The level of quality of water is high}}
\]