我选了B因为只有SMA是可以定制价格，而且C的话hedge fund只可以买卖public stock而mutral可以bond

问题如下：

Hedge funds versus mutual funds: Choose the false statement.

选项：

A.

Mutual funds are open to any investor and are generally more liquid instruments with minimal constraints on redemptions.

B.

Hedge fund fees are typically negotiable by an investor, while mutual funds operate with the same fees for all investors.

C.

Hedge funds are more restricted in what they can trade compared to mutual funds.

解释：

C is the false statement. Hedge funds are less restricted than mutual funds as to the securities they can trade. They are also subject to less disclosure and transparency requirements. A and B are true statements.