Check this Ocaml talk by Yaron Minsky from Jane Street Capital:
http://news.ycombinator.com/item?id=1533275
He said, that unlike Ocaml, in F# you still can get Null-pointer exceptions, since it's based on .NET
He said, that unlike Ocaml, in F# you still can get Null-pointer exceptions, since it's based on .NET
But if you call into non-F# libraries, including .NET framework libraries, then they can return null references. And if your F# code tries to use a null reference obtained in this way OO-style (e.g. making an instance method call through the reference), then that will indeed cause a NullReferenceException.
Obviously, it's easy to wrap 'dangerous' calls to return option values (F#'s equivalent of Haskell Maybe) instead of nulls -- it's a judgment call as to whether it's worth it for any given API.