Hemiarthroplasty is generally recommended over open reduction and internal fixation (ORIF) for displaced femoral neck fractures in elderly patients, as ORIF has higher nonunion and failure rates. Cemented bipolar hemiarthroplasty has better outcomes than uncemented in terms of function, mobility, implant stability, and pain. Total hip replacement provides better function than hemiarthroplasty but is a more complex procedure. For patients aged 65-75 with femoral neck fractures, cemented bipolar hemiarthroplasty is preferable to ORIF, while patients over 75 are best treated with hemiarthroplasty.