No, I've seen these. The end bead is open on one side (which is why you can see the fuzzy knot in the end bead in the front of the photo) and is solid on the other side (you see the closed, solid side of the end bead in the back, in the photo.)
The idea is that when worn, the solid side is upward so you don't see the knot. In reality it would be more likely the bead would flip over and the thread knot would be visible.
Are they the nicest looking or most secure way to finish a necklace? No. I would use gimp and back-knot through the 3-4 end pearls, as I described in my tutorial.