Which of the Following Statements Regarding the Purchase and Redemption

Which of the following statements regarding the purchase and redemption of mutual fund shares is false?

A) Mutual fund shares may not be purchased on margin.
B) An investor can both purchase and sell fractional shares of mutual funds.
C) When an investor redeems his shares, the mutual fund must pay for the shares within 7 business days.
D) If an investor places an order to buy or redeem shares of a mutual fund before 4 P.M.EST on a day when the markets are open, the price will be based on the fund's net asset value (NAV) , as calculated at the end of that trading day.