Explanation:

New Start Treaty

• The Treaty between the United States of America and the Russian Federation on Measures for the Further Reduction and Limitation of Strategic Offensive Arms also known as the New START Treaty.

The New Start Treaty is an agreement signed by the Obama administration with Russia that caps Russian and U.S. nuclear arsenal. 

• It is a successor to the START framework of 1991 (at the end of the Cold War) that limited both sides to 1,600 strategic delivery vehicles and 6,000 warheads.
• It entered into force on February 5, 2011. 

Conditions of the treaty

• Cap on nuclear arsenals: The New START treaty caps to 1,550 the number of nuclear warheads that can be deployed by Moscow and Washington, who control the world's largest nuclear arsenals. 1 is incorrect.
• Each Party has the flexibility to determine for itself the structure of its strategic forces within the aggregate limits of the Treaty. 

Inspections: The New START Treaty provides for 18 on-site inspections per year. There are two basic types of inspections. 

• Type One inspections focus on sites with deployed and non-deployed strategic systems; 
• Type Two inspections focus on sites with only non-deployed strategic systems.

Hence only statement 2nd is correct.