
Offi-Guid-TOEFL
.pdf
83)*0 M&8 6IEHMRK
'LSMGI q;SVOIVW [IRX XLVSYKL ER I\XIRWMZI TIVMSH SJ XVEMRMRKr FIPSRKW MR XLI q&IJSVI r GSPYQR FIGEYWI MX MW QIRXMSRIH MR XLI TEWWEKI EW SRI SJ XLI GLEVEGXIVMWXMGW SJ PEFSV FIJSVI
'LSMGI q*I[ [SVOIVW I\TIGXIH XS S[R XLIMV S[R FYWMRIWWIWr FIPSRKW MR XLI q i r GSPYQR FIGEYWI MX MW QIRXMSRIH MR XLI TEWWEKI EW SRI SJ XLI GLEVEGXIVMWXMGW SJ WSGMIX] XLEX IQIVKIH MR XLI TIVMSH FIX[IIR ERH
'LSMGI q% YRMXIH LMKLP] WYGGIWWJYP PEFSV QSZIQIRX XSSO WLETIr HSIW RSX FIPSRK MR XLI XEFPI FIGEYWI MX GSRXVEHMGXW XLI TEWWEKI
'LSMGI q8VERWTSVXEXMSR RIX[SVOW FIKER XS HIGPMRIr HSIW RSX FIPSRK MR XLI XEFPI FIGEYWI MX MW RSX QIRXMSRIH MR XLI TEWWEKI MR GSRRIGXMSR [MXL IMXLIV XLI TIVMSH FIJSVI SV XLI TIVMSH FIX[IIR ERH

46%'8-') 7)8
7;-11-2+ 1%',-2)7
8YREW QEGOIVIPW ERH FMPPJMWLIW QEVPMRW WEMPJMWLIW ERH W[SVHJMWL W[MQ GSRXMRY
SYWP] *IIHMRK GSYVXWLMT VITVSHYGXMSR ERH IZIR qVIWXr EVI GEVVMIH SYX [LMPI MR GSR
WXERX QSXMSR %W E VIWYPX TVEGXMGEPP] IZIV] EWTIGX SJ XLI FSH] JSVQ ERH JYRGXMSR SJ
XLIWI W[MQQMRK qQEGLMRIWr MW EHETXIH XS IRLERGI XLIMV EFMPMX] XS W[MQ
1ER] SJ XLI EHETXEXMSRW SJ XLIWI JMWLIW WIVZI XS VIHYGI [EXIV VIWMWXERGI HVEK -RXIVIWXMRKP] IRSYKL WIZIVEP SJ XLIWI L]HVSH]REQMG EHETXEXMSRW VIWIQFPI JIEXYVIW HIWMKRIH XS MQTVSZI XLI EIVSH]REQMGW SJ LMKL WTIIH EMVGVEJX 8LSYKL LYQER IRKM RIIVW EVI RI[ XS XLI KEQI XYREW ERH XLIMV VIPEXMZIW IZSPZIH XLIMV qLMKL XIGLr HIWMKRW PSRK EKS
8YREW QEGOIVIPW ERH FMPPJMWLIW LEZI QEHI WXVIEQPMRMRK MRXS ER EVX JSVQ 8LIMV FSHMIW EVI WPIIO ERH GSQTEGX 8LI FSH] WLETIW SJ XYREW MR JEGX EVI RIEVP] MHIEP JVSQ ER IRKMRIIVMRK TSMRX SJ ZMI[ 1SWX WTIGMIW PEGO WGEPIW SZIV QSWX SJ XLI FSH] QEOMRK MX WQSSXL ERH WPMTTIV] 8LI I]IW PMI JPYWL [MXL XLI FSH] ERH HS RSX TVSXVYHI EX EPP 8LI] EVI EPWS GSZIVIH [MXL E WPMGO XVERWTEVIRX PMH XLEX VIHYGIW HVEK 8LI JMRW EVI WXMJJ WQSSXL ERH REVVS[ UYEPMXMIW XLEX EPWS LIPT GYX HVEK ;LIR RSX MR YWI XLI JMRW EVI XYGOIH MRXS WTIGMEP KVSSZIW SV HITVIWWMSRW WS XLEX XLI] PMI JPYWL [MXL XLI FSH] ERH HS RSX FVIEO YT MXW WQSSXL GSRXSYVW %MVTPERIW VIXVEGX XLIMV PERHMRK KIEV [LMPI MR JPMKLX JSV XLI WEQI VIEWSR
8YREW QEGOIVIPW ERH FMPPJMWLIW LEZI IZIR QSVI WSTLMWXMGEXIH EHETXEXMSRW XLER XLIWI XS MQTVSZI XLIMV L]HVSH]REQMGW 8LI PSRK FMPP SJ QEVPMRW WEMPJMWLIW ERH W[SVH JMWL TVSFEFP] LIPTW XLIQ WPMT XLVSYKL XLI [EXIV 1ER] WYTIVWSRMG EMVGVEJX LEZI E WMQ MPEV RIIHPI EX XLI RSWI
1SWX XYREW ERH FMPPJMWLIW LEZI E WIVMIW SJ OIIPW ERH JMRPIXW RIEV XLI XEMP %PXLSYKL QSWX SJ XLIMV WGEPIW LEZI FIIR PSWX XYREW ERH QEGOIVIPW VIXEMR E TEXGL SJ GSEVWI WGEPIW RIEV XLI LIEH GEPPIH XLI GSVWIPIX 8LI OIIPW JMRPIXW ERH GSVWIPIX LIPT HMVIGX XLI JPS[ SJ [EXIV SZIV XLI FSH] WYVJEGI MR WYGL EW [E] EW XS VIHYGI VIWMWXERGI WII XLI JMK YVI %KEMR WYTIVWSRMG NIXW LEZI WMQMPEV JIEXYVIW
&IGEYWI XLI] EVI EP[E]W W[MQQMRK XYREW WMQTP] LEZI XS STIR XLIMV QSYXLW ERH [EXIV MW JSVGIH MR ERH SZIV XLIMV KMPPW %GGSVHMRKP] XLI] LEZI PSWX QSWX SJ XLI QYWGPIW XLEX SXLIV JMWLIW YWI XS WYGO MR [EXIV ERH TYWL MX TEWX XLI KMPPW -R JEGX XYREW QYWX W[MQ XS FVIEXLI 8LI] QYWX EPWS OIIT W[MQQMRK XS OIIT JVSQ WMROMRK WMRGI QSWX LEZI PEVKIP] SV GSQTPIXIP] PSWX XLI W[MQ FPEHHIV XLI KEW JMPPIH WEG XLEX LIPTW QSWX SXLIV JMWL VIQEMR FYS]ERX
3RI TSXIRXMEP TVSFPIQ MW XLEX STIRMRK XLI QSYXL XS FVIEXLI HIXVEGXW JVSQ XLI WXVIEQPMRMRK SJ XLIWI JMWLIW ERH XIRHW XS WPS[ XLIQ HS[R 7SQI WTIGMIW SJ XYRE LEZI WTIGMEPM^IH KVSSZIW MR XLIMV XSRKYI -X MW XLSYKLX XLEX XLIWI KVSSZIW LIPT XS GLERRIP [EXIV XLVSYKL XLI QSYXL ERH SYX XLI KMPP WPMXW XLIVIF] VIHYGMRK [EXIV VIWMWXERGI
8LIVI EVI EHETXEXMSRW XLEX MRGVIEWI XLI EQSYRX SJ JSV[EVH XLVYWX EW [IPP EW XLSWI XLEX VIHYGI HVEK %KEMR XLIWI JMWLIW EVI XLI IRZ] SJ IRKMRIIVW 8LIMV LMKL REVVS[ XEMPW [MXL W[ITX FEGO XMTW EVI EPQSWX TIVJIGXP] EHETXIH XS TVSZMHI TVSTYPWMSR [MXL XLI PIEWX TSWWMFPI IJJSVX 4IVLETW QSWX MQTSVXERX SJ EPP XS XLIWI ERH SXLIV JEWX W[MQQIVW MW XLIMV EFMPMX] XS WIRWI ERH QEOI YWI SJ W[MVPW ERH IHHMIW GMVGYPEV GYVVIRXW MR XLI

4
%
6
%
+
6
%
4
,
83)*0 M&8 6IEHMRK
[EXIV 8LI] GER KPMHI TEWX IHHMIW XLEX [SYPH WPS[ XLIQ HS[R ERH XLIR KEMR I\XVE XLVYWX F] qTYWLMRK SJJr XLI IHHMIW 7GMIRXMWXW ERH IRKMRIIVW EVI FIKMRRMRK XS WXYH] XLMW EFMPMX] SJ JMWLIW MR XLI LSTI SJ HIWMKRMRK QSVI IJJMGMIRX TVSTYPWMSR W]WXIQW JSV WLMTW
8LI QYWGPIW SJ XLIWI JMWLIW ERH XLI QIGLERMWQ XLEX QEMRXEMRW E [EVQ FSH] XIQ TIVEXYVI EVI EPWS LMKLP] IJJMGMIRX % FPYIJMR XYRE MR [EXIV SJ ' * GER QEMRXEMR E GSVI XIQTIVEXYVI SJ SZIV ' * 8LMW [EVQ FSH] XIQTIVEXYVI QE] LIPT RSX SRP] XLI QYWGPIW XS [SVO FIXXIV FYX EPWS XLI FVEMR ERH XLI I]IW 8LI FMPPJMWLIW LEZI KSRI SRI WXIT JYVXLIV 8LI] LEZI IZSPZIH WTIGMEP qLIEXIVWr SJ QSHMJMIH QYWGPI XMWWYI XLEX [EVQ XLI I]IW ERH FVEMR QEMRXEMRMRK TIEO TIVJSVQERGI SJ XLIWI GVMXMGEP SVKERW
8YREW QEGOIVIPW ERH FMPPJMWLIW QEVPMRW WEMPJMWLIW ERH W[SVHJMWL W[MQ GSRXMRY
SYWP] *IIHMRK GSYVXWLMT VITVSHYGXMSR ERH IZIR qVIWXr EVI GEVVMIH SYX [LMPI MR GSR
WXERX QSXMSR %W E VIWYPX TVEGXMGEPP] IZIV] EWTIGX SJ XLI FSH] JSVQ ERH JYRGXMSR SJ
XLIWI W[MQQMRK qQEGLMRIWr MW EHETXIH XS IRLERGI XLIMV EFMPMX] XS W[MQ
(MVIGXMSRW
8LI [SVH IRLERGI MR XLI TEWWEKI MW GPSWIWX MR QIERMRK XS
YWI
MQTVSZI
GSYRXIVEGX
FEPERGI

83)*0 M&8 6IEHMRK
4
%
6
8YREW QEGOIVIPW ERH FMPPJMWLIW LEZI QEHI WXVIEQPMRMRK MRXS ER EVX JSVQ 8LIMV FSH MIW EVI WPIIO ERH GSQTEGX 8LI FSH] WLETIW SJ XYREW MR JEGX EVI RIEVP] MHIEP JVSQ ER IRKMRIIVMRK TSMRX SJ ZMI[ 1SWX WTIGMIW PEGO WGEPIW SZIV QSWX SJ XLI FSH] QEOMRK MX
%WQSSXL ERH WPMTTIV] 8LI I]IW PMI JPYWL [MXL XLI FSH] ERH HS RSX TVSXVYHI EX EPP 8LI]
+ |
|
6 |
EVI EPWS GSZIVIH [MXL E WPMGO XVERWTEVIRX PMH XLEX VIHYGIW HVEK 8LI JMRW EVI WXMJJ |
% |
WQSSXL ERH REVVS[ UYEPMXMIW XLEX EPWS LIPT GYX HVEK ;LIR RSX MR YWI XLI JMRW EVI |
4 |
|
, |
XYGOIH MRXS WTIGMEP KVSSZIW SV HITVIWWMSRW WS XLEX XLI] PMI JPYWL [MXL XLI FSH] ERH HS |
|
RSX FVIEO YT MXW WQSSXL GSRXSYVW %MVTPERIW VIXVEGX XLIMV PERHMRK KIEV [LMPI MR JPMKLX JSV XLI WEQI VIEWSR
4
%
6
%
+
6
%
4
,
8LI [SVH XLI] MR XLI TEWWEKI VIJIVW XS
UYEPMXMIW
JMRW
KVSSZIW
HITVIWWMSRW
;L] HSIW XLI EYXLSV QIRXMSR XLEX %MVTPERIW VIXVEGX XLIMV PERHMRK KIEV [LMPI MR JPMKLX#
8S WLS[ XLEX EMV VIWMWXERGI ERH [EXIV VIWMWXERGI [SVO HMJJIVIRXP] JVSQ IEGL SXLIV 8S EVKYI XLEX WSQI JMWLIW EVI FIXXIV HIWMKRIH XLER EMVTPERIW EVI 8S TVSZMHI IZMHIRGI XLEX EMVTPERI IR KMRIIVW LEZI WXYHMIH XLI HIWMKR SJ JMWL FSHMIW 8S HIQSRWXVEXI E WMQMPEVMX] MR HIWMKR FIX[IIR GIVXEMR JMWLIW ERH EMVTPERIW
8YREW QEGOIVIPW ERH FMPPJMWLIW LEZI IZIR QSVI WSTLMWXMGEXIH EHETXEXMSRW XLER XLIWI XS MQTVSZI XLIMV L]HVSH]REQMGW 8LI PSRK FMPP SJ QEVPMRW WEMPJMWLIW ERH W[SVHJMWL TVSFEFP] LIPTW XLIQ WPMT XLVSYKL XLI [EXIV 1ER] WYTIVWSRMG EMVGVEJX LEZI E WMQMPEV RIIHPI EX XLI RSWI
8LI [SVH WSTLMWXMGEXIH MR XLI |
%GGSVHMRK XS TEVEKVETL XLI PSRK |
TEWWEKI MW GPSWIWX MR QIERMRK XS |
FMPPW SJ QEVPMRW WEMPJMWL ERH W[SVH |
GSQTPI\ |
JMWL TVSFEFP] LIPT XLIWI JMWLIW F] |
|
|
EQE^MRK |
MRGVIEWMRK XLIMV EFMPMX] XS HIJIRH |
GVIEXMZI |
XLIQWIPZIW |
TVEGXMGEP |
EPPS[MRK XLIQ XS GLERKI HMVIGXMSR |
|
IEWMP] |
|
MRGVIEWMRK XLIMV EFMPMX] XS HIXIGX |
|
SHSVW |
|
VIHYGMRK [EXIV VIWMWXERGI EW XLI] |
|
W[MQ |

83)*0 M&8 6IEHMRK
4
%
6
%
+
6
%
4
,
&IGEYWI XLI] EVI EP[E]W W[MQQMRK XYREW WMQTP] LEZI XS STIR XLIMV QSYXLW ERH [EXIV MW JSVGIH MR ERH SZIV XLIMV KMPPW %GGSVHMRKP] XLI] LEZI PSWX QSWX SJ XLI QYWGPIW XLEX SXLIV JMWLIW YWI XS WYGO MR [EXIV ERH TYWL MX TEWX XLI KMPPW -R JEGX XYREW QYWX W[MQ XS FVIEXLI 8LI] QYWX EPWS OIIT W[MQQMRK XS OIIT JVSQ WMROMRK WMRGI QSWX LEZI PEVKIP] SV GSQTPIXIP] PSWX XLI W[MQ FPEHHIV XLI KEW JMPPIH WEG XLEX LIPTW QSWX SXLIV JMWL VIQEMR FYS]ERX
%GGSVHMRK XS XLI TEWWEKI [LMGL SJ XLI JSPPS[MRK MW SRI SJ XLI VIEWSRW XLEX XYREW EVI MR GSRWXERX QSXMSR#
8LI] PEGO E W[MQ FPEHHIV 8LI] RIIH XS WYGO MR QSVI [EXIV XLER SXLIV JMWLIW HS 8LI] LEZI PEVKI QYWGPIW JSV FVIEXLMRK 8LI] GERRSX STIR XLIMV QSYXLW YRPIWW XLI] EVI MR QSXMSR
4 3RI TSXIRXMEP TVSFPIQ MW XLEX STIRMRK XLI QSYXL XS FVIEXLI HIXVEGXW JVSQ XLI WXVIEQ
% |
PMRMRK SJ XLIWI JMWLIW ERH XIRHW XS WPS[ XLIQ HS[R 7SQI WTIGMIW SJ XYRE LEZI WTI |
|
6 |
||
|
%GMEPM^IH KVSSZIW MR XLIMV XSRKYI -X MW XLSYKLX XLEX XLIWI KVSSZIW LIPT XS GLERRIP [EXIV
+ |
XLVSYKL XLI QSYXL ERH SYX XLI KMPP WPMXW XLIVIF] VIHYGMRK [EXIV VIWMWXERGI |
|
6 |
||
% |
|
|
4 |
|
|
, |
;LMGL SJ XLI WIRXIRGIW FIPS[ FIWX |
8LI [SVH GLERRIP MR XLI TEWWEKI |
|
I\TVIWWIW XLI IWWIRXMEP MRJSVQEXMSR MW GPSWIWX MR QIERMRK XS
MR XLI LMKLPMKLXIH WIRXIRGI MR XLI TEWWEKI# ERW[IV GLSMGIW GLERKI XLI QIERMRK MR MQTSVXERX [E]W SV PIEZI SYX IWWIRXMEP MRJSV QEXMSR
8LIWI JMWLIW SJXIR LEZI E TVSFPIQ STIRMRK XLIMV QSYXLW [LMPI W[MQ QMRK 8LI WXVIEQPMRMRK SJ XLIWI JMWLIW TVI ZIRXW XLIQ JVSQ WPS[MRK HS[R 8LI WXVIEQPMRMRK SJ XLIWI JMWLIW XIRHW XS WPS[ HS[R XLIMV FVIEXLMRK 3TIRMRK XLI QSYXL XS FVIEXLI GER VIHYGI XLI WTIIH SJ XLIWI JMWLIW
VIHYGI
VIQSZI
HMVIGX
TVSZMHI

83)*0 M&8 6IEHMRK
4
%
6
%
8LIVI EVI EHETXEXMSRW XLEX MRGVIEWI XLI EQSYRX SJ JSV[EVH XLVYWX EW [IPP EW XLSWI XLEX VIHYGI HVEK %KEMR XLIWI JMWLIW EVI XLI IRZ] SJ IRKMRIIVW 8LIMV LMKL REVVS[ XEMPW [MXL W[ITX FEGO XMTW EVI EPQSWX TIVJIGXP] EHETXIH XS TVSZMHI TVSTYPWMSR [MXL XLI PIEWX
+TSWWMFPI IJJSVX 4IVLETW QSWX MQTSVXERX SJ EPP XS XLIWI ERH SXLIV JEWX W[MQQIVW MW
6
%XLIMV EFMPMX] XS WIRWI ERH QEOI YWI SJ W[MVPW ERH IHHMIW GMVGYPEV GYVVIRXW MR XLI [EXIV
4
,8LI] GER KPMHI TEWX IHHMIW XLEX [SYPH WPS[ XLIQ HS[R ERH XLIR KEMR I\XVE XLVYWX F]
qTYWLMRK SJJr XLI IHHMIW 7GMIRXMWXW ERH IRKMRIIVW EVI FIKMRRMRK XS WXYH] XLMW EFMPMX] SJ JMWLIW MR XLI LSTI SJ HIWMKRMRK QSVI IJJMGMIRX TVSTYPWMSR W]WXIQW JSV WLMTW
%GGSVHMRK XS XLI TEWWEKI SRI SJ XLI EHETXEXMSRW SJ JEWX W[MQQMRK JMWLIW XLEX QMKLX FI YWIH XS MQTVSZI XLI TIVJSVQERGI SJ WLMTW MW XLIWI JMWLIWt EFMPMX] XS
W[MQ HMVIGXP] XLVSYKL IHHMIW
QEOI IJJMGMIRX YWI SJ [EXIV GYVVIRXW
GSZIV KVIEX HMWXERGIW [MXLSYX WXSTTMRK
KEMR WTIIH F] JSVGMRK [EXIV TEWX XLIMV KMPPW
4
%
6
%
+
6
%
4
,
8LI QYWGPIW SJ XLIWI JMWLIW ERH XLI QIGLERMWQ XLEX QEMRXEMRW E [EVQ FSH] XIQTIV EXYVI EVI EPWS LMKLP] IJJMGMIRX % FPYIJMR XYRE MR [EXIV SJ ' * GER QEMRXEMR E GSVI XIQTIVEXYVI SJ SZIV ' * 8LMW [EVQ FSH] XIQTIVEXYVI QE] LIPT RSX SRP] XLI QYWGPIW XS [SVO FIXXIV FYX EPWS XLI FVEMR ERH XLI I]IW 8LI FMPPJMWLIW LEZI KSRI SRI WXIT JYVXLIV 8LI] LEZI IZSPZIH WTIGMEP qLIEXIVWr SJ QSHMJMIH QYWGPI XMWWYI XLEX [EVQ XLI I]IW ERH FVEMR QEMRXEMRMRK TIEO TIVJSVQERGI SJ XLIWI GVMXMGEP SVKERW
%GGSVHMRK XS TEVEKVETL [LMGL SJ XLI JSPPS[MRK MW XVYI SJ FPYIJMR XYREW#
8LIMV I]IW ERH FVEMR EVI QSVI IJJMGMIRX XLER XLSWI SJ ER] SXLIV JMWL 8LIMV FSH] XIQTIVEXYVI GER GLERKI KVIEXP] HITIRHMRK SR XLI [EXIV XIQTIVEXYVI 8LI] GER W[MQ MR [EXIVW XLEX EVI QYGL GSPHIV XLER XLIMV S[R FSHMIW 8LI] LEZI WTIGMEP QYWGPI XMWWYI XLEX [EVQW XLIMV I]IW ERH FVEMR

83)*0 M&8 6IEHMRK
4 |
%KEMR WYTIVWSRMG NIXW LEZI WMQMPEV JIEXYVIW |
|
|
||
% |
&IGEYWI XLI] EVI EP[E]W W[MQQMRK XYREW WMQTP] LEZI XS STIR XLIMV QSYXLW ERH |
|
6 |
||
|
%[EXIV MW JSVGIH MR ERH SZIV XLIMV KMPPW %GGSVHMRKP] XLI] LEZI PSWX QSWX SJ XLI QYW
+ |
GPIW XLEX SXLIV JMWLIW YWI XS WYGO MR [EXIV ERH TYWL MX TEWX XLI KMPPW -R JEGX XYREW |
6 |
|
% |
QYWX W[MQ XS FVIEXLI 8LI] QYWX EPWS OIIT W[MQQMRK XS OIIT JVSQ WMROMRK WMRGI |
4 |
,QSWX LEZI PEVKIP] SV GSQTPIXIP] PSWX XLI W[MQ FPEHHIV XLI KEW JMPPIH WEG XLEX LIPTW
QSWX SXLIV JMWL VIQEMR FYS]ERX
0SSO EX XLI JSYV WUYEVIW ? A XLEX MRHMGEXI [LIVI XLI JSPPS[MRK WIRXIRGI GER FI EHHIH XS XLI TEWWEKI
'SRWIUYIRXP] XYREW HS RSX RIIH XS WYGO MR [EXIV
;LIVI [SYPH XLI WIRXIRGI FIWX JMX#
%KEMR WYTIVWSRMG NIXW LEZI WMQMPEV JIEXYVIW
'SRWIUYIRXP] XYREW HS RSX RIIH XS WYGO MR [EXIV &IGEYWI XLI] EVI EP[E]W W[MQQMRK XYREW WMQTP] LEZI XS STIR XLIMV QSYXLW ERH [EXIV MW JSVGIH MR ERH SZIV XLIMV KMPPW %GGSVHMRKP] XLI] LEZI PSWX QSWX SJ XLI QYWGPIW XLEX SXLIV JMWLIW YWI XS WYGO MR [EXIV ERH TYWL MX TEWX XLI KMPPW -R JEGX XYREW QYWX W[MQ XS FVIEXLI 8LI] QYWX EPWS OIIT W[MQQMRK XS OIIT JVSQ WMROMRK WMRGI QSWX LEZI PEVKIP] SV GSQTPIXIP] PSWX XLI W[MQ FPEHHIV XLI KEW JMPPIH WEG XLEX LIPTW QSWX SXLIV JMWL VIQEMR FYS]ERX
%KEMR WYTIVWSRMG NIXW LEZI WMQMPEV JIEXYVIW
&IGEYWI XLI] EVI EP[E]W W[MQQMRK XYREW WMQTP] LEZI XS STIR XLIMV QSYXLW ERH [EXIV MW JSVGIH MR ERH SZIV XLIMV KMPPW 'SRWIUYIRXP] XYREW HS RSX RIIH XS WYGO MR [EXIV %GGSVHMRKP] XLI] LEZI PSWX QSWX SJ XLI QYWGPIW XLEX SXLIV JMWLIW YWI XS WYGO MR [EXIV ERH TYWL MX TEWX XLI KMPPW -R JEGX XYREW QYWX W[MQ XS FVIEXLI 8LI] QYWX EPWS OIIT W[MQQMRK XS OIIT JVSQ WMROMRK WMRGI QSWX LEZI PEVKIP] SV GSQTPIXIP] PSWX XLI W[MQ FPEHHIV XLI KEW JMPPIH WEG XLEX LIPTW QSWX SXLIV JMWL VIQEMR FYS]ERX
%KEMR WYTIVWSRMG NIXW LEZI WMQMPEV JIEXYVIW
&IGEYWI XLI] EVI EP[E]W W[MQQMRK XYREW WMQTP] LEZI XS STIR XLIMV QSYXLW ERH [EXIV MW JSVGIH MR ERH SZIV XLIMV KMPPW %GGSVHMRKP] XLI] LEZI PSWX QSWX SJ XLI QYWGPIW XLEX SXLIV JMWLIW YWI XS WYGO MR [EXIV ERH TYWL MX TEWX XLI KMPPW
'SRWIUYIRXP] XYREW HS RSX RIIH XS WYGO MR [EXIV -R JEGX XYREW QYWX W[MQ XS FVIEXLI 8LI] QYWX EPWS OIIT W[MQQMRK XS OIIT JVSQ WMROMRK WMRGI QSWX LEZI PEVKIP] SV GSQTPIXIP] PSWX XLI W[MQ FPEHHIV XLI KEW JMPPIH WEG XLEX LIPTW QSWX SXLIV JMWL VIQEMR FYS]ERX
%KEMR WYTIVWSRMG NIXW LEZI WMQMPEV JIEXYVIW
&IGEYWI XLI] EVI EP[E]W W[MQQMRK XYREW WMQTP] LEZI XS STIR XLIMV QSYXLW ERH [EXIV MW JSVGIH MR ERH SZIV XLIMV KMPPW %GGSVHMRKP] XLI] LEZI PSWX QSWX SJ XLI QYWGPIW XLEX SXLIV JMWLIW YWI XS WYGO MR [EXIV ERH TYWL MX TEWX XLI KMPPW
-R JEGX XYREW QYWX W[MQ XS FVIEXLI 'SRWIUYIRXP] XYREW HS RSX RIIH XS WYGO MR [EXIV 8LI] QYWX EPWS OIIT W[MQQMRK XS OIIT JVSQ WMROMRK WMRGI QSWX LEZI PEVKIP] SV GSQTPIXIP] PSWX XLI W[MQ FPEHHIV XLI KEW JMPPIH WEG XLEX LIPTW QSWX SXLIV JMWL VIQEMR FYS]ERX

83)*0 M&8 6IEHMRK
(MVIGXMSRW |
|
|
8LMW UYIWXMSR MW [SVXL TSMRXW |
|
|
6IHYGMRK ;EXIV 6IWMWXERGI |
-RGVIEWMRK 8LVYWX |
F |
F |
F |
F |
F |
|
|
|
8LI EFWIRGI SJ WGEPIW JVSQ QSWX SJ |
*MRW XLEX EVI WXMJJ REVVS[ ERH |
XLI FSH] |
WQSSXL |
8LI EFMPMX] XS XEOI EHZERXEKI SJ |
8LI LEFMX SJ W[MQQMRK [MXL XLI |
IHHMIW |
QSYXL STIR |
8LI EFMPMX] XS JIIH ERH VITVSHYGI |
% LMKL REVVS[ XEMP [MXL W[ITX FEGO |
[LMPI W[MQQMRK |
XMTW |
)]IW XLEX HS RSX TVSXVYHI |
|
46%'8-') 7)8 %27;)67 %2( )<40%2%8-327
8LMW MW E :SGEFYPEV] UYIWXMSR 8LI [SVH FIMRK XIWXIH MW IRLERGI -X MW LMKL PMKLXIH MR XLI TEWWEKI 8LI GSVVIGX ERW[IV MW GLSMGI qMQTVSZI r 8S IRLERGI
WSQIXLMRK QIERW XS qQEOI MX FIXXIV r -J WSQIXLMRK LEW FIIR qMQTVSZIH r MX LEW FIIR QEHI FIXXIV
8LMW MW E 6IJIVIRGI UYIWXMSR 8LI [SVH FIMRK XIWXIH MW XLI] -X MW LMKLPMKLXIH MR XLI TEWWEKI 'LSMGI qJMRW r MW XLI GSVVIGX ERW[IV 8LMW MW E WMQTPI TVS RSYR VIJIVIRX MXIQ 8LI [SVH XLI] VIJIVW XS WSQIXLMRK XLEX PMIW JPYWL [MXL XLI FSH] [LIR RSX MR YWI 8LMW MW XVYI SRP] SJ qJMRW r
8LMW MW E 6LIXSVMGEP 4YVTSWI UYIWXMSR -X EWOW [L] XLI EYXLSV QIRXMSRW XLEX q%MVTPERIW VIXVEGX XLIMV PERHMRK KIEV [LMPI MR JPMKLX r 8LI TLVEWI FIMRK XIWXIH MW LMKLPMKLXIH MR XLI TEWWEKI 8LI GSVVIGX ERW[IV MW GLSMGI q8S HIQSRWXVEXI E WMQMPEVMX] MR HIWMKR FIX[IIR GIVXEMR JMWLIW ERH EMVTPERIW r 8LI TEVEKVETL MR [LMGL XLI LMKLPMKLXIH TLVEWI ETTIEVW HIWGVMFIW LS[ GIVXEMR JMWL YWI XLIMV JMRW 8LI LMKLPMKLXIH TLVEWI MW YWIH XS TVSZMHI E QSVI JEQMPMEV I\EQTPI EMV TPERIW SJ XLI TVMRGMTPI MRZSPZIH XS LIPT XLI VIEHIV ZMWYEPM^I LS[ JMRW [SVO 8LI TEVEKVETL HSIW RSX HMWGYWW EMVTPERIW MR ER] SXLIV GSRXI\X WS GLSMGIW ERH EVI MRGSVVIGX %MV ERH [EXIV VIWMWXERGI EVI RSX QIRXMSRIH MR XLMW TEVE KVETL WS GLSMGI MW MRGSVVIGX
8LMW MW E :SGEFYPEV] UYIWXMSR 8LI [SVH FIMRK XIWXIH MW WSTLMWXMGEXIH -X MW LMKLPMKLXIH MR XLI TEWWEKI 8LI GSVVIGX ERW[IV MW GLSMGI qGSQTPI\ r -J WSQIXLMRK MW WSTLMWXMGEXIH MX MW qRSX WMQTPI r WS MX QYWX FI qGSQTPI\ r

83)*0 M&8 6IEHMRK
8LMW MW E *EGXYEP -RJSVQEXMSR UYIWXMSR EWOMRK JSV WTIGMJMG MRJSVQEXMSR XLEX GER FI JSYRH MR TEVEKVETL 8LI GSVVIGX ERW[IV MW GLSMGI qVIHYGMRK [EXIV VIWMWXERGI EW XLI] W[MQ r 8LI SZIVEPP XLIQI SJ XLI TEWWEKI MW LS[ GIVXEMR JMWL W[MQ WS IJJMGMIRXP] 4EVEKVETLW ERH QEOI XLI KIRIVEP WXEXIQIRX XLEX qTVEGXMGEPP] IZIV] EWTIGX SJ XLI FSH] JSVQ ERH JYRGXMSR SJ XLIWI W[MQQMRK sQEGLMRIWt MW EHETXIH XS IRLERGI XLIMV EFMPMX] XS W[MQ 1ER] SJ XLI EHETXE XMSRW SJ XLIWI JMWLIW WIVZI XS VIHYGI [EXIV VIWMWXERGI HVEK r
4EVEKVETL I\TPMGMXP] WXEXIW IQTLEWMW EHHIH XLEX q8YREW QEGOIVIPW ERH FMPPJMWLIW LEZI IZIR QSVI WSTLMWXMGEXIH EHETXEXMSRW XLER XLIWI XS MQTVSZI XLIMV L]HVSH]REQMGW 8LI PSRK FMPP SJ QEVPMRW WEMPJMWLIW ERH W[SVHJMWL TVSFEFP] LIPTW XLIQ WPMT XLVSYKL XLI [EXIV r 8LMW MW E WTIGMJMG I\EQTPI SJ SRI EHETXE XMSR XLEX XLIWI JMWL LEZI QEHI XS MRGVIEWI XLIMV W[MQQMRK IJJMGMIRG] 2SRI SJ XLI SXLIV GLSMGIW MW QIRXMSRIH MR XLI TEVEKVETL
8LMW MW E *EGXYEP -RJSVQEXMSR UYIWXMSR EWOMRK JSV WTIGMJMG MRJSVQEXMSR XLEX GER FI JSYRH MR XLI TEWWEKI 8LI GSVVIGX ERW[IV MW GLSMGI q8LI] PEGO E W[MQ FPEHHIV r
4EVEKVETL I\TPMGMXP] WXEXIW q XYREW QYWX W[MQ XS FVIEXLI 8LI] QYWX EPWS OIIT W[MQQMRK XS OIIT JVSQ WMROMRK WMRGI QSWX LEZI PEVKIP] SV GSQ TPIXIP] PSWX XLI W[MQ FPEHHIV r 8LI SXLIV GLSMGIW EVI RSX WYTTSVXIH F] XLI TEWWEKI
8LMW MW E 7IRXIRGI 7MQTPMJMGEXMSR UYIWXMSR %W [MXL EPP SJ XLIWI MXIQW E WMR KPI WIRXIRGI MR XLI TEWWEKI MW LMKLPMKLXIH
3RI TSXIRXMEP TVSFPIQ MW XLEX STIRMRK XLI QSYXL XS FVIEXLI HIXVEGXW JVSQ XLI
WXVIEQPMRMRK SJ XLIWI JMWLIW ERH XIRHW XS WPS[ XLIQ HS[R
8LI GSVVIGX ERW[IV MW GLSMGI 8LEX GLSMGI GSRXEMRW EPP SJ XLI IWWIRXMEP MHIEW MR XLI LMKLPMKLXIH WIRXIRGI -X MW EPWS XLI SRP] GLSMGI XLEX HSIW RSX GLERKI XLI QIERMRK SJ XLI WIRXIRGI -X SQMXW XLI JEGX XLEX XLMW MW qE TVSFPIQr ERH EPWS qXLEX MX HIXVEGXW JVSQ WXVIEQPMRMRKr FIGEYWI XLEX MRJSVQEXMSR MW RSX IWWIRXMEP XS XLI QIERMRK
'LSMGI WE]W XLEX XLIWI JMWL LEZI XVSYFPI STIRMRK XLIMV QSYXLW [LMPI W[MQQMRK [LMGL MW RSX XVYI 'LSMGI XLEX WXVIEQPMRMRK TVIZIRXW JMWL JVSQ WPS[MRK HS[R QE] FI XVYI FYX MX MW RSX QIRXMSRIH MR XLMW WIRXIRGI 8LI JMWL EVI WPS[IH HS[R [LIR XLI] STIR XLIMV QSYXLW [LMGL VIHYGIW WXVIEQPMRMRK 'LSMGI XLEX WXVIEQPMRMRK WPS[W XLI JMWLIWt FVIEXLMRK MW EPWS RSX QIRXMSRIH
8LMW MW E :SGEFYPEV] UYIWXMSR 8LI [SVH FIMRK XIWXIH MW GLERRIP -X MW LMKL PMKLXIH MR XLI TEWWEKI 8LI GSVVIGX ERW[IV MW GLSMGI qHMVIGX r 'LERRIP LIVI MW YWIH EW E ZIVF QIERMRK XS qQSZIr SV qTYWL r
8LMW MW E *EGXYEP -RJSVQEXMSR UYIWXMSR EWOMRK JSV WTIGMJMG MRJSVQEXMSR XLEX GER FI JSYRH MR XLI TEWWEKI 8LI GSVVIGX ERW[IV MW GLSMGI qQEOI IJJMGMIRX YWI SJ [EXIV GYVVIRXW r 4EVEKVETL I\TPMGMXP] WXEXIW q4IVLETW QSWX MQTSVXERX SJ EPP XS XLIWI ERH SXLIV JEWX W[MQQIVW MW XLIMV EFMPMX] XS WIRWI ERH QEOI YWI SJ W[MVPW ERH IHHMIW GMVGYPEV GYVVIRXW MR XLI [EXIV 8LI] GER KPMHI TEWX IHHMIW XLEX [SYPH WPS[ XLIQ HS[R ERH XLIR KEMR I\XVE XLVYWX F] qTYWLMRK SJJr

83)*0 M&8 6IEHMRK
XLI IHHMIW 7GMIRXMWXW ERH IRKMRIIVW EVI FIKMRRMRK XS WXYH] XLMW EFMPMX] SJ JMWLIW MR XLI LSTI SJ HIWMKRMRK QSVI IJJMGMIRX TVSTYPWMSR W]WXIQW JSV WLMTW r 8LI SXLIV GLSMGIW EVI RSX QIRXMSRIH MR GSRRIGXMSR [MXL XLI TIVJSVQERGI SJ WLMTW
8LMW MW E *EGXYEP -RJSVQEXMSR UYIWXMSR EWOMRK JSV WTIGMJMG MRJSVQEXMSR XLEX GER FI JSYRH MR TEVEKVETL 8LI GSVVIGX ERW[IV MW GLSMGI q8LI] GER W[MQ MR [EXIVW XLEX EVI QYGL GSPHIV XLER XLIMV S[R FSHMIW r 8LEX TEVEKVETL WE]W q% FPYIJMR XYRE MR [EXIV SJ ' * GER QEMRXEMR E GSVI XIQTIVEXYVI SJ SZIV ' * r 7S MX MW GPIEV XLEX GLSMGI MW GSVVIGX 'LSMGI MW RSX WXEXIH MR XLI TEVEKVETL 'LSMGI MW GSRXVEHMGXIH F] XLI TEVEKVETL 'LSMGI MW XVYI SJ FMPPJMWL RSX FPYIJMR XYRE
8LMW MW ER -RWIVX 8I\X UYIWXMSR =SY GER WII XLI JSYV FPEGO WUYEVIW MR TEVE KVETL XLEX VITVIWIRX XLI TSWWMFPI ERW[IV GLSMGIW LIVI 8LI PEWX WIRXIRGI SJ TEVEKVETL MW EPWS VITVSHYGIH FIPS[
%KEMR WYTIVWSRMG NIXW LEZI WMQMPEV JIEXYVIW
&IGEYWI XLI] EVI EP[E]W W[MQQMRK XYREW WMQTP] LEZI XS STIR XLIMV QSYXLW ERH [EXIV MW JSVGIH MR ERH SZIV XLIMV KMPPW %GGSVHMRKP] XLI] LEZI PSWX QSWX SJ XLI QYW GPIW XLEX SXLIV JMWLIW YWI XS WYGO MR [EXIV ERH TYWL MX TEWX XLI KMPPW -R JEGX XYREW QYWX W[MQ XS FVIEXLI 8LI] QYWX EPWS OIIT W[MQQMRK XS OIIT JVSQ WMROMRK WMRGI QSWX LEZI PEVKIP] SV GSQTPIXIP] PSWX XLI W[MQ FPEHHIV XLI KEW JMPPIH WEG XLEX LIPTW QSWX SXLIV JMWL VIQEMR FYS]ERX
8LI WIRXIRGI TVSZMHIH q'SRWIUYIRXP] XYREW HS RSX RIIH XS WYGO MR [EXIV r MW FIWX MRWIVXIH EX WUYEVI 8LI WIRXIRGI TVSZMHIW ER I\TPEREXMSR JSV XLI QYW GPI PSWW HIWGVMFIH MR XLI WIRXIRGI XLEX JSPPS[W WUYEVI ERH MW E VIWYPX SJ XLI JEGX HIWGVMFIH MR XLI TVIGIHMRK WIRXIRGI [LMGL WE]W XLEX FIGEYWI XLI JMWL EVI EP[E]W W[MQQMRK XLI] SRP] LEZI XS STIR XLIMV QSYXLW XS WYGO MR [EXIV 8LYW MJ XLI TVSZMHIH WIRXIRGI MW MRWIVXIH EX WUYEVI MX TVSZMHIW E PSKMGEP FVMHKI FIX[IIR GEYWI ERH IJJIGX 8LI WIRXIRGI QEOIW RS PSKMGEP WIRWI ER][LIVI IPWI
8LMW MW E *MPP MR E 8EFPI UYIWXMSR -X MW GSQTPIXIH GSVVIGXP] FIPS[ 8LI GSVVIGX
GLSMGIW JSV XLI q6IHYGMRK [EXIV VIWMWXERGIr GSPYQR EVI ERH 'LSMGIW
ERH FIPSRK MR XLI q-RGVIEWMRK XLVYWXr GSPYQR 'LSMGIW ERH WLSYPH RSX FI
YWIH MR IMXLIV GSPYQR
(MVIGXMSRW
8LMW UYIWXMSR MW [SVXL TSMRXW
6IHYGMRK ;EXIV 6IWMWXERGI |
-RGVIEWMRK 8LVYWX |
F 8LI EFWIRGI SJ WGEPIW JVSQ QSWX |
F 8LI EFMPMX] XS XEOI EHZERXEKI |
SJ XLI FSH] |
SJ IHHMIW |
F )]IW XLEX HS RSX TVSXVYHI |
F % LMKL REVVS[ XEMP [MXL W[ITX FEGO |
F *MRW XLEX EVI WXMJJ REVVS[ ERH |
XMTW |
WQSSXL |
|
|
|