Final answer:
The statement regarding the risk of a collision being 1 in 500 is a mathematical probability topic typically discussed at the high school level, requiring statistical data to verify its accuracy.
Step-by-step explanation:
The question 'The risk of being involved in a collision in any given year is 1 in 500' appears to be a statement regarding the probability of an event occurring within a certain time frame, which is a topic under the subject of Mathematics and is typically encountered at the High School level. Without corresponding data or references, we cannot definitively classify the statement as true or false since it may vary depending on numerous factors such as geographical location, driver behavior, traffic laws, and more. Statistics about collision risks or the likelihood of accidents can stem from different reputable sources like traffic safety studies or insurance company data. To evaluate the accuracy of such a statement, we would typically rely on statistical analysis of relevant data.