Final answer:
The process described in the question is falsely termed as mummification; it is actually the formation of adipocere, or corpse wax, which occurs in certain decomposition conditions, unlike the deliberate mummification process as practiced in ancient Egypt.
Step-by-step explanation:
The statement, 'The decompositional process by which the fat tissue located beneath the skin of the decedent's remains begins to saponify, forming a hard wax-like material, and typically occurs with decedents found submerged in cold water is known as mummification,' is FALSE. This process is not mummification; rather, it refers to a phenomenon called 'adipocere' formation or corpse wax. The term mummification describes the preservation of a body by drying and embalming, as famously practiced in ancient Egypt, where bodies were treated with salt, oils, resins, and wrapped in linen. In contrast, adipocere is a soap-like substance formed during the decomposition of fat in bodies found in wet, cold environments.