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Notes:

How can you tell whether or not an initialization parameter is dynamic or static? Query the V$PARAMETER view and look at the ISSYS_MODIFIABLE column.
SQL> select name, issys_modifiable from v$parameter
2 where name = 'shared_pool_size';

NAME ISSYS_MOD
------------------------------ --------------------
shared_pool_size IMMEDIATE

Valid values for the ISSYS_MODIFIABLE column:
IMMEDIATE – This is a dynamic parameter, i.e. by using the ALTER SYSTEM command you can change the value for this parameter for the current instance.
FALSE – This is not a dynamic parameter. The parameter is static and its value cannot be changed for the current instance.
DEFERRED – It can be altered, but any new value for the parameter as defined by the ALTER SYSTEM command will only affect new sessions within the current instance.