Question

This is an example of parallel structure: We must live, we must create and we must thrive!

Answer 1

If this is a true/false question, then it is true that this is an example of a parallel structure.
Parallel structure means that the same form of a word is used throughout the sentence, which is definitely the case here. As you can see, throughout the sentence the form must + verb is used, which makes this example a parallel structure.