Focused self-directed learning process needs to be promoted at present among graduate medical students in view of the information load and limited time available with them. In this study, comparison of the effect of identifying and correcting the mistakes in a given set of wrong statements with the effect of studying correct statements individually by graduate medical students on their understanding of the topic "Cancer Biology" was carried out. At the end of regular teaching module, students were asked to identify the mistakes in a set of seven incorrect statements and correct them individually without peer consultation. Another set of seven correct statements were also provided to them and were asked to study their significance. The effects on low, medium, and high achievers were evaluated by pre- and post-tests with the same set of Multiple Choice Questions (MCQs). Mean post-test marks were significantly higher among all the three groups compared to pretest marks for the wrong statements given. For the correct statements, the post-test marks were significantly higher than the pretest marks only for the low and medium achievers. The gain from identifying the mistakes was higher than studying the correct statements for all the three groups of students. Individual correction of errors in statements is a superior active learning process in comparison to the study of correct statements.