CFAI 2010 Mock Afternoon q16 - Misrepresentation

The answer to this question is that Jean Luc most likely violated the ‘Misrepresentation’ standard. I disagree with this answer because I remember reading that, when using statistics and figures from recognized public sources, you do not have to quote the sources. On page 31 of CFAI v1 mid page: “Maintain copies. Keep copies of all research reports, articles containing research ideas, material with new statistical methodology, and other materials that were relied on in preparing the research report. Attribute quotations. Attribute to their sources any direct quotations, including projections, tables, statistics, model/product ideas, and new methodologies prepared by the persons other than recognized financial and statistical reporting services or similar sources.” In this question, Jean Luc most definitely did not keep records of the data he used for the report. Also, he used the World Bank and respective Central Bank’s figures for his report. I think the answer should be that he most likely violated the ‘Record Retention’ standard. Am I off? Actually, it would be better that I am because I would prefer to have blanket statement whereby if you don’t attribute the source of your figures, no matter where you got them from, you violate the Misrepresentation standard. The reading and some previous experience tells me that the mock exam could be wrong. Would anyone comment on this?

world bank and central bank figures are not public sources. This was discussed on another thread.

Understood, whichever way is easier, does anyone have a list of the ‘public recognized financial/statistical reporting services’ or the ones that are not (prob a huge list). Or, does anyone recall the thread that covered this topic already? I can’t seem to find this item… Thanks,1213469

don’t waste your time on one ethics question, the amount of time you took to type all that out isnt even worth the responses that you got. Spend your time more wisely reviewing ethics up until the exam.