01. Volatility is applicable only to class member variables, be they instance or static, for ensuring synchronized access.

02. Local variables, being thread-private, cannot be declared as volatile since they are not shared among threads.

03. The final keyword cannot be used in conjunction with volatile because the latter is designed for variables that undergo changes, leading to a compile-time error if attempted.

04. It is illegal to use the volatile keyword with classes and methods.

05. Volatile serves as a lock-free mechanism, specifically designed for synchronizing access to instance or static variables.

06. Read and write operations on volatile variables occur directly in the main memory, bypassing local thread caches, ensuring atomicity.

07. Volatile is effective when a shared variable is modified by a single thread; however, it cannot prevent data race conditions if multiple threads modify the variable simultaneously (e.g., using the ++ operator).

08. In the case of a volatile variable referencing an object, it may also point to null.

09. Volatile is a faster, more cost-effective option compared to synchronized blocks since it doesn’t require acquiring a monitor or lock to access the variable.

10. The use of the volatile keyword helps mitigate the risk of memory consistency errors.
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