Final answer:
The correct answer is option b) funds do not charge.
Step-by-step explanation:
The question pertains to load funds, which are a type of mutual fund that charges a fee for the purchase, the maintenance, or the sale of investments. The options a), c), and d) are generally true about load funds, because they typically charge a sales commission that is indeed between 3 and 5 percent on average, and by regulation, the maximum load cannot exceed 8.5 percent. However, option b) is not true because load funds, by definition, do charge a fee.
Therefore, the correct answer would be that option b) 'funds do not charge' is not true about load funds.