Statement 1: A hurricane acquires its spin from the Coriolis Effect.
Statement 2: The diameter of the hurricane decreases as it moves away from low latitudes.
Statement 3: The diameter of a hurricane is never below 150 km.

Explanation:
Coriolis Effect:
The Coriolis Effect is the apparent deflection of a moving object caused by the rotation of the Earth. It affects the movement of objects in the atmosphere, including hurricanes. In the Northern Hemisphere, the Coriolis Effect causes moving air to be deflected to the right, while in the Southern Hemisphere, it causes moving air to be deflected to the left.

Statement 1: A hurricane acquires its spin from the Coriolis Effect.
This statement is correct. Hurricanes are large rotating storm systems that form over warm ocean waters. As the warm air rises and cools, it creates a low-pressure area at the surface. The rotation of the Earth, combined with the pressure gradient created by the temperature difference between the equator and the poles, causes the air to start rotating. This rotation is acquired due to the Coriolis Effect, which deflects the moving air and gives the hurricane its spin.

Statement 2: The diameter of the hurricane decreases as it moves away from low latitudes.
This statement is incorrect. The diameter of a hurricane typically increases as it moves away from low latitudes. Hurricanes are fueled by warm ocean waters, and as they move away from the equator, they encounter cooler waters, which can weaken the storm. However, the size of the hurricane can still expand due to the interaction with the surrounding environment, such as the jet stream and other atmospheric conditions. Therefore, the diameter of a hurricane generally increases with distance from low latitudes.

Statement 3: The diameter of a hurricane is never below 150 km.
This statement is incorrect. The diameter of a hurricane can vary widely and is not strictly limited to a minimum of 150 km. Hurricanes can range in size from small storms with diameters of less than 100 km to large storms with diameters exceeding 1000 km. The size of a hurricane depends on various factors, including the environmental conditions, such as sea surface temperatures and wind shear.

Conclusion:
Based on the explanations above, we can conclude that only statement 1 is correct. The diameter of a hurricane can vary widely and is not limited to a minimum of 150 km, as stated in statement 3. Statement 2 is also incorrect, as the diameter of a hurricane generally increases as it moves away from low latitudes.