- True
The statement correctly explains that the number of turning points of a polynomial can be at most one less than the degree of the polynomial. Therefore, the number of relative extrema (which occur at turning points) can also be determined similarly. A polynomial of degree \( n \) can have up to \( n-1 \) turning points (and, consequently, up to \( n-1 \) relative extrema). Thus, the statement is true.