Final answer:
The statement is false; chambered nautiluses are typically found in deeper waters, not in shallow ones. They are part of Class Cephalopoda which includes species with a variety of oceanic habitats, including the deep sea.
Step-by-step explanation:
The statement 'Chambered nautiluses are found in shallow water' is False. Chambered nautiluses (Nautilus spp.) are typically found in deeper waters, not shallow waters as the question suggests. Class Cephalopoda, which includes the chambered nautilus, is known for species that have varying habitats including deep sea environments.
For instance, the nautilus uses its multi-chambered shell to regulate buoyancy, allowing it to move between different depths, usually between 100 to 500 meters, which is below the photic zone where light penetrates the ocean water. Examples of cephalopods living in shallow waters would not typically include the chambered nautilus; instead, some examples might be certain squids or cuttlefish, which can often be found in shallower waters closer to shorelines.