Final answer:
No, CBD with no more than 0.1% THC is not a schedule V drug; the statement is false. Following the 2018 Farm Bill, hemp-derived CBD products with up to 0.3% THC are federally legal, but state regulations can vary.
Step-by-step explanation:
The statement that CBD containing no more than 0.1% THC is a schedule V drug is false. As of the latest information available, CBD products with no more than 0.3% THC that are derived from hemp are not scheduled under the Controlled Substances Act and are federally legal following the Agriculture Improvement Act of 2018, commonly known as the Farm Bill. Schedule V drugs include substances that have a proven medical use and a low potential for abuse compared to drugs listed in Schedule I-IV. However, the classification can vary based on state laws and regulations. It is important to stay informed on the current laws as they can change.