In which of the following scenarios is an investment adviser representative required to disclose the...

In which of the following scenarios is an investment adviser representative required to disclose the fact that someone other than the representative performed the research on which his advice to the client is based?

I. The investment adviser representative recommends the same asset allocation for his client that a buddy of his did after his buddy had done some research for a client with similar characteristics.

II. The investment adviser representative provides a recommendation for his client based on research provided by a broker-dealer that provides the investment adviser with its analysts’ recommendations in return for trades that the investment adviser executes using the services of the broker-dealer, as well as a couple of other research sources he finds on the internet.

III. The investment adviser representative submitted his client’s information to a data base that provided a recommendation for the asset allocation of the client’s investment monies that the adviser deemed was sound and, therefore, recommended it to his client.