Which one of the following statements relating to the benefits of static testing is NOT...

The statement that "static testing increases development costs and time" is NOT correct. Static testing actually helps to reduce development costs and time by identifying defects early in the development process before dynamic testing is performed. Early detection of defects reduces the cost and effort required to fix them and prevents the propagation of defects to later stages, thus reducing overall testing and development costs.

References:ISTQB CTFL Syllabus, Section 3.1.2, "The Value of Static Testing."