Solution:
The above statement is true.When copper sulphate and iron react with each other, iron sulphate and copper are formed due to the occurrence of a displacement reaction. Iron, being more reactive than copper and placed upper in the reactivity series than copper, displaces it from its salt solution (blue) to form iron sulphate (green) and give out copper metal. The reaction can be given as follows:
Fe + CuSO4 → FeSO4 + Cu