Static testing involves reviewing and inspecting the code, requirements, or design documents without executing the code. It can prevent defects, is effective early in the software development life cycle, and can help eliminate defects in user stories.

Option 1: "It can prevent defects by manual examination of the functional specification" - This is a value of static testing.

Option 2: "It is effective since it can be performed very early in the software development life cycle" - This is a value of static testing.

Option 3: "It can detect the failures in the running application" - This is a v​ (ISTQB not-for-profit association)​namic testing, not static testing.

Option 4: "It can help eliminate defects in user stories" - This is a value of static testing.

Option 5: "It can verify externally visible behaviors" - This is a value of dynamic testing, not static testing.

Therefore, the correct set of statements representing values only for static testing is 1, 2, 4, which corresponds to answer C【6†source】.