It is a hypothesis.
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A conjecture should be testable. You test it and if it fails the test, it is a false conjecture.
One possible conjecture: The product is always an odd number. Another possible conjecture: The product is always greater than either of them. Another possible conjecture: Both odd numbers are always factors of the product. Another possible conjecture: The product is never a multiple of ' 2 '. Another possible conjecture: The product is always a real, rational number. Another possible conjecture: The product is always an integer.
A counter example is a statement that shows conjecture is false.
Conjecture
To be true a Conjecture must be true for all cases.