Final answer:
The statement is true. Fuel will transfer when the 'FUEL LO' caution display comes on.
Step-by-step explanation:
The provided question seems to be related to the space shuttle program, specifically the process of transferring fuel from the external tank to the main engines. In this case, the external tank control switch is in the 'stop transfer' position, while the hook handle is down. When the 'FUEL LO' caution display comes on, it indicates that the fuel level in the external tank is low. Therefore, the statement is TRUE.