Final answer:
The assertion that diamagnetic materials can exhibit magnetism is false because they do not have a permanent magnetic dipole moment. The reason given is also false, as the magnetic effect in diamagnetic materials is solely induced and temporary, disappearing once the external magnetic field is removed.
Step-by-step explanation:
The assertion that diamagnetic materials can exhibit magnetism is false because diamagnetic materials do not have a permanent magnetic dipole moment. Instead, they are characterized by having paired electrons with opposite spins that cancel out their magnetic fields, resulting in no net magnetic moment. However, diamagnetic materials can exhibit induced magnetic dipoles that align opposite to an applied magnetic field, creating a repulsive effect. This phenomenon is known as diamagnetism and is typically very weak compared to the magnetism exhibited by ferromagnetic materials.
The reason provided, that diamagnetic materials have a permanent magnetic dipole moment, is also false. Diamagnetic materials only exhibit magnetism when an external magnetic field is applied, inducing a temporary magnetic dipole moment that is directed opposite to the applied field. Once the external field is removed, the material returns to its non-magnetized state. Therefore, unlike ferromagnetic materials, diamagnetic substances do not retain magnetization after the removal of an external field.