ildude- you're correct: Statement 1 is sufficient on its own. As you point out, by choosing numbers you do run the risk of 'missing something'. It's a good strategy to fall back on if you can't see how to do a problem abstractly or algebraically, but when we can do a problem abstractly, we can be sure we're getting the right answer. Here, using Statement 1 alone, we know:
m < p
Now, if we multiply both sides by v, we *must* have mv > pv if v is negative (if you multiply both sides of an inequality by a negative, you must reverse the inequality), and mv < pv if v is positive. Since we know, from the question, that mv < pv, we know that v must be positive.