Which of the following does NOT characterize non-volatile memory?

Non-volatile memory is specifically designed to retain data even when the power is turned off. This characteristic is fundamental to its function, as it ensures that data remains intact and accessible after the device has been powered down or rebooted. Options that describe non-volatile memory accurately include its ability to retain data without power and its use for permanent storage, as these are significant advantages over volatile memory, which loses its data when power is lost.

The nature of non-volatile memory is such that it is not erased when power is turned off. Thus, the option indicating that it is erased under these circumstances contradicts a core definition of non-volatile memory. Furthermore, while it is commonly true that non-volatile memory tends to operate at slower speeds compared to volatile memory, this feature does not define its non-volatility. Therefore, the assertion that it is erased when power is turned off is the defining factor indicating which characteristic does not apply to non-volatile memory.