Is it ethical for a lecturer to mis-indicate exam study material?
I will address the final question you ask—if it's fair for instructors to write an exam but point to other material to study.

The primary ethical issue here is the question of intent: why did the instructor tell you to review the particular material. If this was an intentional effort to mislead students, and to feed them "false" information in order to catch them unprepared, I would say that it is somewhat unethical. (In other words, if you were told you wouldn't be responsible for something on the exam when the instructor knew it would be, that's wrong.)

However, if the instructor gave "recommendations"—along the lines of "it might be good to know X, Y, and Z"—then there's really nothing wrong with that. Telling you exactly what to do defeats the purpose of a university education, which is to learn how to learn! Ultimately, the instructor should not be spoonfeeding you information which you then regurgitate on the final exam. And I would further argue that if all you're doing is memorizing information, as you suggest, then you're also not really accomplishing much, since such information is very likely to be "dumped" from memory once the semester is over.