The statement is True.
Let us discuss this in detail,
Type I error : It is an error occured when the rejection of null hypothesis when it is true. That is the null hypothesis is actually true but we reject it. Or we can say that error occured when we accept the alternative hypothesis when the null hypothesis is true. This kind of error is called Type I error.
And Significance level is the probability of rejecting the null hypothesis when it is true. It is same as the probability or Type I error.
Hence we can say that the probability of Type I error is equal to the significance level . That is our given statement is TRUE.
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