Final answer:
The product owner does not need to have a complete and exhaustive product backlog before the first sprint can start.
Step-by-step explanation:
The answer to the question is False. The product owner does not need to have a complete and exhaustive product backlog before the first sprint can start. The initial product backlog is expected to be incomplete and will evolve over time as the project progresses and more information becomes available.
During the first sprint, the product owner works closely with the development team to prioritize items from the product backlog and create a sprint backlog which includes only the items that will be worked on during that specific sprint.
Therefore, it is not necessary for the product owner to have a complete and exhaustive product backlog before the first sprint can start.