Monitor refresh time and repsonce time.

One question the refresh rate of a monitor is how many times the monitors can change in one sec so givel monitors have 60hz refresh rate thats 60 times per second thus changing every 16,7 msec. right?
So now the monitors say they can change the pixel at 5msec. so that would make 200 times per sec equivelant to 200hz??
so where lays the truth.
can or can not a tft monitor change a pixel 200 times per sec? or it is another advertising stund.
cause if a pixel can change 200 times but then is limited by the refresh rate. there is no real reason to advertise that characteristic is it?
thank you