Statement 1 correctly describes the composition of the Supreme Court collegium: the CJI and four seniormost judges. Statement 2 is incorrect as the collegium system evolved through judicial pronouncements by the Supreme Court (the 'Three Judges Cases'), not through a law passed by Parliament. Statement 3 is incorrect because, while the collegium recommends judges, the formal appointment is made by the President of India as per the Constitution. Saying they are "appointed only through the collegium system" is inaccurate as the President is the appointing authority, albeit acting on the collegium's recommendation. Statement 4 is incorrect and irrelevant to the collegium system; it pertains to the disqualification of state legislators (Article 192).