Offi-Guid-TOEFL
.pdf%YXLIRXMG 83)*0 M&8 4VEGXMGI 8IWX
R XLMW GLETXIV ]SY [MPP JMRH XLI JMVWX SJ X[S EYXLIRXMG 83)*0 -&8 4VEGXMGI
-8IWXW =SY GER XEOI XLI XIWX MR X[S HMJJIVIRX [E]W
F9WMRK XLI I&SSO XI\X ERH XLI RYQFIVIH EYHMS XVEGOW =SY GER VIEH XLVSYKL XLI XIWX UYIWXMSRW MR XLI JSPPS[MRK TEKIW QEVOMRK ]SYV ERW[IVW MR XLI WTEGIW TVSZMHIH 8S LIEV XLI PMWXIRMRK TSV XMSRW SJ XLI XIWX JSPPS[ MRWXVYGXMSRW XS TPE] XLI RYQFIVIH EYHMS XVEGOW MR XLI HS[RPSEHEFPI IPIGXVSRMG JMPIW
F9WMRK SRP] XLI HS[RPSEHEFPI IPIGXVSRMG JMPIW *SV E XIWX XEOMRK I\TIVMIRGI XLEX QSVI GPSWIP] VIWIQFPIW XLI EGXYEP 83)*0 M&8 ]SY GER XEOI XLMW WEQI XIWX SR ]SYV GSQTYXIV YWMRK XLI HS[R PSEHEFPI IPIGXVSRMG JMPIW 6IEHMRK TEWWEKIW ERH UYIWXMSRW [MPP ETTIEV SR WGVIIR ERH ]SY GER IRXIV ]SYV ERW[IVW F] GPMGOMRK SR XLI WTEGIW TVSZMHIH *SPPS[ MRWXVYGXMSRW XS LIEV XLI PMWXIRMRK TSV XMSRW SJ XLI XIWX
*SPPS[MRK XLMW XIWX ]SY [MPP JMRH ER %RW[IV /I] ERH WGSVMRK MRJSVQEXMSR =SY [MPP EPWS JMRH WGVMTXW JSV XLI PMWXIRMRK TSVXMSRW 'SQTPIXI ERW[IV I\TPEREXMSRW EW [IPP EW WEQTPI WTSOIR WXYHIRX VIWTSRWIW ERH WXYHIRX IWWE]W EVI EPWS TVSZMHIH
83)*0 M&8 4VEGXMGI 8IWX
6)%(-2+
(MVIGXMSRW 8LMW WIGXMSR QIEWYVIW ]SYV EFMPMX] XS YRHIVWXERH EGEHIQMG TEWWEKIW MR )RKPMWL
8LI 6IEHMRK WIGXMSR MW HMZMHIH MRXS WITEVEXIP] XMQIH TEVXW
1SWX UYIWXMSRW EVI [SVXL TSMRX FYX XLI PEWX UYIWXMSR JSV IEGL TEWWEKI MW [SVXL QSVI XLER TSMRX 8LI HMVIGXMSRW JSV XLI PEWX UYIWXMSR MRHMGEXI LS[ QER] TSMRXW ]SY QE] VIGIMZI
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%X XLI IRH SJ XLMW 4VEGXMGI 8IWX ]SYtPP JMRH I\TPEREXMSRW SJ XLI ERW[IVW ERH MRJSVQEXMSR XS LIPT ]SY HIXIVQMRI ]SYV WGSVI
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8LI HIZIPSTQIRX SJ XLI QSHIVR TVIWMHIRG] MR XLI 9RMXIH 7XEXIW FIKER [MXL %RHVI[
.EGOWSR [LS W[ITX XS TS[IV MR EX XLI LIEH SJ XLI (IQSGVEXMG 4EVX] ERH WIVZIH YRXMP (YVMRK LMW EHQMRMWXVEXMSR LI MQQIEWYVEFP] IRPEVKIH XLI TS[IV SJ XLI TVIWMHIRG] q8LI 4VIWMHIRX MW XLI HMVIGX VITVIWIRXEXMZI SJ XLI %QIVMGER TISTPI r LI PIGXYVIH XLI 7IREXI [LIR MX STTSWIH LMQ q,I [EW IPIGXIH F] XLI TISTPI ERH MW VIWTSRWMFPI XS XLIQ r ;MXL XLMW HIGPEVEXMSR .EGOWSR VIHIJMRIH XLI GLEVEGXIV SJ XLI TVIWMHIRXMEP SJJMGI ERH MXW VIPEXMSRWLMT XS XLI TISTPI
(YVMRK .EGOWSRtW WIGSRH XIVQ LMW STTSRIRXW LEH KVEHYEPP] GSQI XSKIXLIV XS JSVQ XLI ;LMK TEVX] ;LMKW ERH (IQSGVEXW LIPH HMJJIVIRX EXXMXYHIW XS[EVH XLI GLERKIW FVSYKLX EFSYX F] XLI QEVOIX FEROW ERH GSQQIVGI 8LI (IQSGVEXW XIRHIH XS ZMI[ WSGMIX] EW E GSRXMRYMRK GSRJPMGX FIX[IIR qXLI TISTPIrhJEVQIVW TPERXIVW ERH [SVOIVWhERH E WIX SJ KVIIH] EVMWXSGVEXW 8LMW qTETIV QSRI] EVMWXSGVEG]r SJ FEROIVW ERH MRZIWXSVW QERMTYPEXIH XLI FEROMRK W]WXIQ JSV XLIMV S[R TVSJMX (IQSGVEXW GPEMQIH ERH WETTIH XLI REXMSRtW ZMVXYI F] IRGSYVEKMRK WTIGYPEXMSR ERH XLI HIWMVI JSV WYHHIR YRIEVRIH [IEPXL 8LI (IQSGVEXW [ERXIH XLI VI[EVHW SJ XLI QEVOIX [MXLSYX WEGVMJMGMRK XLI JIEXYVIW SJ E WMQTPI EKVEVMER VITYFPMG 8LI] [ERXIH XLI [IEPXL XLEX XLI QEVOIX SJJIVIH [MXLSYX XLI GSQTIXMXMZI GLERKMRK WSGMIX] XLI GSQTPI\ HIEPMRK XLI HSQMRERGI SJ YVFER GIRXIVW ERH XLI PSWW SJ MRHITIRHIRGI XLEX GEQI [MXL MX
;LMKW SR XLI SXLIV LERH [IVI QSVI GSQJSVXEFPI [MXL XLI QEVOIX *SV XLIQ
83)*0 M&8 4VEGXMGI 8IWX
GSQQIVGI ERH IGSRSQMG HIZIPSTQIRX [IVI EKIRXW SJ GMZMPM^EXMSR 2SV HMH XLI ;LMKW IRZMWMSR ER] GSRJPMGX MR WSGMIX] FIX[IIR JEVQIVW ERH [SVOIVW SR XLI SRI LERH ERH FYWMRIWWTISTPI ERH FEROIVW SR XLI SXLIV )GSRSQMG KVS[XL [SYPH FIRIJMX IZIV]SRI F] VEMWMRK REXMSREP MRGSQI ERH I\TERHMRK STTSVXYRMX] 8LI KSZIVRQIRXtW VIWTSRWMFMP MX] [EW XS TVSZMHI E [IPP VIKYPEXIH IGSRSQ] XLEX KYEVERXIIH STTSVXYRMX] JSV GMXM^IRW SJ EFMPMX]
;LMKW ERH (IQSGVEXW HMJJIVIH RSX SRP] MR XLIMV EXXMXYHIW XS[EVH XLI QEVOIX FYX EPWS EFSYX LS[ EGXMZI XLI GIRXVEP KSZIVRQIRX WLSYPH FI MR TISTPItW PMZIW (IWTMXI %R HVI[ .EGOWSRtW MRGPMREXMSR XS FI E WXVSRK 4VIWMHIRX (IQSGVEXW EW E VYPI FIPMIZIH MR PMQMXIH KSZIVRQIRX +SZIVRQIRXtW VSPI MR XLI IGSRSQ] [EW XS TVSQSXI GSQTIXMXMSR F] HIWXVS]MRK QSRSTSPMIW ERH WTIGMEP TVMZMPIKIW -R OIITMRK [MXL XLMW TLMPSWSTL] SJ PMQMXIH KSZIVRQIRX (IQSGVEXW EPWS VINIGXIH XLI MHIE XLEX QSVEP FIPMIJW [IVI XLI TVSTIV WTLIVI SJ KSZIVRQIRX EGXMSR 6IPMKMSR ERH TSPMXMGW XLI] FIPMIZIH WLSYPH FI OITX GPIEVP] WITEVEXI ERH XLI] KIRIVEPP] STTSWIH LYQERMXEVMER PIKMWPEXMSR
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
1SRSTSPMIWh'SQTERMIW SV MRHMZMHYEPW XLEX I\GPYWMZIP] S[R SV GSRXVSP GSQQIVGMEP IRXIVTVMWIW [MXL RS GSQTIXMXSVW
6IEHMRK
4 8LI HIZIPSTQIRX SJ XLI QSHIVR TVIWMHIRG] MR XLI 9RMXIH 7XEXIW FIKER [MXL %RHVI[
%.EGOWSR [LS W[ITX XS TS[IV MR EX XLI LIEH SJ XLI (IQSGVEXMG 4EVX] ERH WIVZIH
6
%YRXMP (YVMRK LMW EHQMRMWXVEXMSR LI MQQIEWYVEFP] IRPEVKIH XLI TS[IV SJ XLI
+ |
TVIWMHIRG] q8LI 4VIWMHIRX MW XLI HMVIGX VITVIWIRXEXMZI SJ XLI %QIVMGER TISTPI r LI |
|
6 |
||
% |
PIGXYVIH XLI 7IREXI [LIR MX STTSWIH LMQ q,I [EW IPIGXIH F] XLI TISTPI ERH MW |
|
4 |
||
|
,VIWTSRWMFPI XS XLIQ r ;MXL XLMW HIGPEVEXMSR .EGOWSR VIHIJMRIH XLI GLEVEGXIV SJ XLI
TVIWMHIRXMEP SJJMGI ERH MXW VIPEXMSRWLMT XS XLI TISTPI
(MVIGXMSRW
8LI [SVH MQQIEWYVEFP] MR XLI |
%GGSVHMRK XS TEVEKVETL XLI |
TEWWEKI MW GPSWIWX MR QIERMRK XS |
TVIWMHIRG] SJ %RHVI[ .EGOWSR [EW |
JVIUYIRXP] |
IWTIGMEPP] WMKRMJMGERX JSV [LMGL SJ |
|
|
KVIEXP] |
XLI JSPPS[MRK VIEWSRW# |
|
|
VETMHP] |
8LI 4VIWMHIRX KVERXIH E TSVXMSR SJ |
VITSVXIHP] |
LMW TS[IV XS XLI 7IREXI |
|
8LI 4VIWMHIRX FIKER XS EHHVIWW XLI |
|
7IREXI SR E VIKYPEV FEWMW |
|
-X [EW XLI FIKMRRMRK SJ XLI QSHIVR |
|
TVIWMHIRG] MR XLI 9RMXIH 7XEXIW |
|
-X [EW XLI JMVWX XMQI XLEX XLI 7IREXI |
|
LEH FIIR ORS[R XS STTSWI XLI |
|
4VIWMHIRX |
4
%
6
(YVMRK .EGOWSRtW WIGSRH XIVQ LMW STTSRIRXW LEH KVEHYEPP] GSQI XSKIXLIV XS JSVQ XLI ;LMK TEVX] ;LMKW ERH (IQSGVEXW LIPH HMJJIVIRX EXXMXYHIW XS[EVH XLI GLERKIW FVSYKLX EFSYX F] XLI QEVOIX FEROW ERH GSQQIVGI 8LI (IQSGVEXW XIRHIH XS ZMI[ WSGMIX] EW E GSRXMRYMRK GSRJPMGX FIX[IIR qXLI TISTPIrhJEVQIVW TPERXIVW ERH [SVO
%IVWhERH E WIX SJ KVIIH] EVMWXSGVEXW 8LMW qTETIV QSRI] EVMWXSGVEG]r SJ FEROIVW ERH
+ |
MRZIWXSVW QERMTYPEXIH XLI FEROMRK W]WXIQ JSV XLIMV S[R TVSJMX (IQSGVEXW GPEMQIH |
6 |
|
% |
ERH WETTIH XLI REXMSRtW ZMVXYI F] IRGSYVEKMRK WTIGYPEXMSR ERH XLI HIWMVI JSV WYHHIR |
4 |
|
, |
YRIEVRIH [IEPXL 8LI (IQSGVEXW [ERXIH XLI VI[EVHW SJ XLI QEVOIX [MXLSYX WEGVMJMG |
|
MRK XLI JIEXYVIW SJ E WMQTPI EKVEVMER VITYFPMG 8LI] [ERXIH XLI [IEPXL XLEX XLI QEVOIX SJJIVIH [MXLSYX XLI GSQTIXMXMZI GLERKMRK WSGMIX] XLI GSQTPI\ HIEPMRK XLI HSQM RERGI SJ YVFER GIRXIVW ERH XLI PSWW SJ MRHITIRHIRGI XLEX GEQI [MXL MX
8LI EYXLSV QIRXMSRW FEROIVW ERH MRZIWXSVW MR XLI TEWWEKI EW ER I\EQTPI SJ [LMGL SJ XLI JSPPS[MRK#
8LI (IQSGVEXMG 4EVX]tW QEMR WSYVGI SJ WYTTSVX
8LI TISTPI XLEX (IQSGVEXW GPEMQIH [IVI YRJEMVP] FIGSQMRK VMGL
8LI TISTPI QSWX MRXIVIWXIH MR E VIXYVR XS E WMQTPI EKVEVMER VITYFPMG
3RI SJ XLI KVSYTW MR JEZSV SJ %RHVI[ .EGOWSRtW TVIWMHIRG]
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83)*0 M&8 4VEGXMGI 8IWX
4 ;LMKW SR XLI SXLIV LERH [IVI QSVI GSQJSVXEFPI [MXL XLI QEVOIX *SV XLIQ GSQ
% |
QIVGI ERH IGSRSQMG HIZIPSTQIRX [IVI EKIRXW SJ GMZMPM^EXMSR 2SV HMH XLI ;LMKW IR |
|
6 |
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%ZMWMSR ER] GSRJPMGX MR WSGMIX] FIX[IIR JEVQIVW ERH [SVOIVW SR XLI SRI LERH ERH
+ |
FYWMRIWWTISTPI ERH FEROIVW SR XLI SXLIV )GSRSQMG KVS[XL [SYPH FIRIJMX IZIV]SRI |
6 |
|
% |
F] VEMWMRK REXMSREP MRGSQI ERH I\TERHMRK STTSVXYRMX] 8LI KSZIVRQIRXtW VIWTSRWMFMP |
4 |
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, |
MX] [EW XS TVSZMHI E [IPP VIKYPEXIH IGSRSQ] XLEX KYEVERXIIH STTSVXYRMX] JSV GMXM^IRW |
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SJ EFMPMX]
%GGSVHMRK XS TEVEKVETL ;LMKW FIPMIZIH XLEX GSQQIVGI ERH IGSRSQMG HIZIP STQIRX [SYPH LEZI [LMGL SJ XLI JSPPS[MRK IJJIGXW SR WSGMIX]#
8LI] [SYPH TVSQSXI XLI EHZERGIQIRX SJ WSGMIX] EW E [LSPI
8LI] [SYPH GEYWI HMWEKVIIQIRXW FIX[IIR ;LMKW ERH (IQSGVEXW
8LI] [SYPH WYTTP] RI[ TSWMXMSRW JSV ;LMK 4EVX] QIQFIVW
8LI] [SYPH TVIZIRX GSRJPMGX FIX[IIR JEVQIVW ERH [SVOIVW
%GGSVHMRK XS TEVEKVETL [LMGL SJ XLI JSPPS[MRK HIWGVMFIW XLI ;LMK 4EVX]tW ZMI[ SJ XLI VSPI SJ KSZIVRQIRX#
4
%
6
%
8S VIKYPEXI XLI GSRXMRYMRK GSRJPMGX FIX[IIR JEVQIVW ERH FYWMRIWWTISTPI 8S VIWXVMGX XLI GLERKIW FVSYKLX EFSYX F] XLI QEVOIX 8S QEMRXEMR ER IGSRSQ] XLEX EPPS[IH EPP GETEFPI GMXM^IRW XS FIRIJMX 8S VIHYGI XLI IQTLEWMW SR IGSRSQMG HIZIPSTQIRX
;LMKW ERH (IQSGVEXW HMJJIVIH RSX SRP] MR XLIMV EXXMXYHIW XS[EVH XLI QEVOIX FYX EPWS
EFSYX LS[ EGXMZI XLI GIRXVEP KSZIVRQIRX WLSYPH FI MR TISTPItW PMZIW (IWTMXI %RHVI[
.EGOWSRtW MRGPMREXMSR XS FI E WXVSRK 4VIWMHIRX (IQSGVEXW EW E VYPI FIPMIZIH MR PMQMXIH
+KSZIVRQIRX +SZIVRQIRXtW VSPI MR XLI IGSRSQ] [EW XS TVSQSXI GSQTIXMXMSR F] HI
6
%WXVS]MRK QSRSTSPMIW ERH WTIGMEP TVMZMPIKIW -R OIITMRK [MXL XLMW TLMPSWSTL] SJ PMQMXIH
4
,KSZIVRQIRX (IQSGVEXW EPWS VINIGXIH XLI MHIE XLEX QSVEP FIPMIJW [IVI XLI TVSTIV
WTLIVI SJ KSZIVRQIRX EGXMSR 6IPMKMSR ERH TSPMXMGW XLI] FIPMIZIH WLSYPH FI OITX GPIEVP] WITEVEXI ERH XLI] KIRIVEPP] STTSWIH LYQERMXEVMER PIKMWPEXMSR
8LI [SVH MRGPMREXMSR MR XLI TEWWEKI MW GPSWIWX MR QIERMRK XS
EVKYQIRX
XIRHIRG]
I\EQTPI
[EVRMRK
%GGSVHMRK XS TEVEKVETL E (IQSGVEX [SYPH FI QSWX PMOIP] XS WYTTSVX KSZIVR QIRX EGXMSR MR [LMGL SJ XLI JSPPS[MRK EVIEW#
'VIEXMRK E WXEXI VIPMKMSR 7YTTSVXMRK LYQERMXEVMER PIKMWPEXMSR (IWXVS]MRK QSRSTSPMIW 6IGSQQIRHMRK TEVXMGYPEV QSVEP FIPMIJW
1SRSTSPMIWh'SQTERMIW SV MRHMZMHYEPW XLEX I\GPYWMZIP] S[R SV GSRXVSP GSQQIVGMEP IRXIVTVMWIW [MXL RS GSQTIXMXSVW
6IEHMRK
8LI ;LMKW MR GSRXVEWX ZMI[IH KSZIVRQIRX TS[IV TSWMXMZIP] 8LI] FIPMIZIH XLEX MX
4
%WLSYPH FI YWIH XS TVSXIGX MRHMZMHYEP VMKLXW ERH TYFPMG PMFIVX] ERH XLEX MX LEH E WTIGMEP
6 |
VSPI [LIVI MRHMZMHYEP IJJSVX [EW MRIJJIGXMZI &] VIKYPEXMRK XLI IGSRSQ] ERH GSQTIXM |
|
% |
||
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||
+ |
XMSR XLI KSZIVRQIRX GSYPH IRWYVI IUYEP STTSVXYRMX] -RHIIH JSV ;LMKW XLI GSRGITX |
|
6 |
||
|
%SJ KSZIVRQIRX TVSQSXMRK XLI KIRIVEP [IPJEVI [IRX FI]SRH XLI IGSRSQ] -R TEVXMGY
4
,PEV ;LMKW MR XLI RSVXLIVR WIGXMSRW SJ XLI 9RMXIH 7XEXIW EPWS FIPMIZIH XLEX KSZIVRQIRX
TS[IV WLSYPH FI YWIH XS JSWXIV XLI QSVEP [IPJEVI SJ XLI GSYRXV] 8LI] [IVI QYGL QSVI PMOIP] XS JEZSV WSGMEP VIJSVQ PIKMWPEXMSR ERH EMH XS IHYGEXMSR
8LI [SVH GSRGITX MR XLI TEWWEKI MW GPSWIWX MR QIERMRK XS
TS[IV
VIEPMX]
HMJJMGYPX]
MHIE
;LMGL SJ XLI JSPPS[MRK GER FI MRJIVVIH JVSQ TEVEKVETL EFSYX ZEVMEXMSRW MR TSPMXMGEP FIPMIJW [MXLMR XLI ;LMK 4EVX]#
8LI] [IVI JSGYWIH SR MWWYIW SJ TYFPMG PMFIVX] 8LI] GEYWIH WSQI QIQFIVW XS PIEZI XLI ;LMK TEVX] 8LI] [IVI YRMQTSVXERX XS QSWX ;LMKW 8LI] VIJPIGXIH VIKMSREP MRXIVIWXW
+3 32 83 8,) 2)<8 4%+) K
83)*0 M&8 4VEGXMGI 8IWX
4
%
6
%
-R WSQI [E]W XLI WSGMEP QEOIYT SJ XLI X[S TEVXMIW [EW WMQMPEV 8S FI GSQTIXMXMZI MR [MRRMRK ZSXIW ;LMKW ERH (IQSGVEXW FSXL LEH XS LEZI WMKRMJMGERX WYTTSVX EQSRK JEVQIVW XLI PEVKIWX KVSYT MR WSGMIX] ERH [SVOIVW 2IMXLIV TEVX] GSYPH [MR ER IPIGXMSR F] ETTIEPMRK I\GPYWMZIP] XS XLI VMGL SV XLI TSSV 8LI ;LMKW LS[IZIV IRNS]IH HMWTVS TSVXMSREXI WXVIRKXL EQSRK XLI FYWMRIWW ERH GSQQIVGMEP GPEWWIW ;LMKW ETTIEPIH XS TPERXIVW [LS RIIHIH GVIHMX XS JMRERGI XLIMV GSXXSR ERH VMGI XVEHI MR XLI [SVPH QEVOIX
+XS JEVQIVW [LS [IVI IEKIV XS WIPP XLIMV WYVTPYWIW ERH XS [SVOIVW [LS [MWLIH XS MQ
6
%TVSZI XLIQWIPZIW (IQSGVEXW EXXVEGXIH JEVQIVW MWSPEXIH JVSQ XLI QEVOIX SV YRGSQ
4
,JSVXEFPI [MXL MX [SVOIVW EPMIREXIH JVSQ XLI IQIVKMRK MRHYWXVMEP W]WXIQ ERH VMWMRK
IRXVITVIRIYVW [LS [ERXIH XS FVIEO QSRSTSPMIW ERH STIR XLI IGSRSQ] XS RI[GSQ IVW PMOI XLIQWIPZIW 8LI ;LMKW [IVI WXVSRKIWX MR XLI XS[RW GMXMIW ERH XLSWI VYVEP
EVIEW XLEX [IVI JYPP] MRXIKVEXIH MRXS XLI QEVOIX IGSRSQ] [LIVIEW (IQSGVEXW HSQM REXIH EVIEW SJ WIQMWYFWMWXIRGI JEVQMRK XLEX [IVI QSVI MWSPEXIH ERH PERKYMWLMRK IGS RSQMGEPP]
%GGSVHMRK XS TEVEKVETL XLI (IQSGVEXW [IVI WYTTSVXIH F] EPP SJ XLI JSPPS[MRK KVSYTW )<')48
[SVOIVW YRLETT] [MXL XLI RI[ MRHYWXVMEP W]WXIQ
TPERXIVW MRZSPZIH MR MRXIVREXMSREP XVEHI
VMWMRK IRXVITVIRIYVW
MRHMZMHYEPW WIIOMRK XS STIR XLI IGSRSQ] XS RI[GSQIVW
;LMGL SJ XLI WIRXIRGIW FIPS[ FIWX I\TVIWWIW XLI IWWIRXMEP MRJSVQEXMSR MR XLI LMKLPMKLXIH WIRXIRGI MR XLI TEWWEKI# GLSMGIW GLERKI XLI QIERMRK MR MQTSVXERX [E]W SV PIEZI SYX IWWIRXMEP MRJSVQEXMSR
;LMKW [IVI EFPI XS EXXVEGX WYTTSVX SRP] MR XLI [IEPXLMIWX TEVXW SJ XLI IGSRSQ] FIGEYWI (IQSGVEXW HSQMREXIH MR SXLIV EVIEW ;LMK ERH (IQSGVEXMG EVIEW SJ MRJPYIRGI [IVI REXYVEPP] WTPMX FIX[IIR YVFER ERH VYVEP EVIEW VIWTIGXMZIP] 8LI WIQMWYFWMWXIRGI JEVQMRK EVIEW HSQMREXIH F] (IQSGVEXW FIGEQI MRGVIEW MRKP] MWSPEXIH F] XLI ;LMKWt GSRXVSP SJ XLI QEVOIX IGSRSQ] 8LI (IQSGVEXWt TS[IV [EW KVIEXIWX MR TSSVIV EVIEW [LMPI XLI ;LMKW [IVI WXVSRKIWX MR XLSWI EVIEW [LIVI XLI QEVOIX [EW EPVIEH] JYPP] STIVEXMRK
6IEHMRK
4
%
6
%
+
6
%
4
,
(YVMRK .EGOWSRtW WIGSRH XIVQ LMW STTSRIRXW LEH KVEHYEPP] GSQI XSKIXLIV XS JSVQ XLI ;LMK TEVX] ;LMKW ERH (IQSGVEXW LIPH HMJJIVIRX EXXMXYHIW XS[EVH XLI GLERKIW FVSYKLX EFSYX F] XLI QEVOIX FEROW ERH GSQQIVGI 8LI (IQSGVEXW XIRHIH XS ZMI[ WSGMIX] EW E GSRXMRYMRK GSRJPMGX FIX[IIR qXLI TISTPIrhJEVQIVW TPERXIVW ERH [SVO IVWhERH E WIX SJ KVIIH] EVMWXSGVEXW 8LMW qTETIV QSRI] EVMWXSGVEG]r SJ FEROIVW ERH MRZIWXSVW QERMTYPEXIH XLI FEROMRK W]WXIQ JSV XLIMV S[R TVSJMX (IQSGVEXW GPEMQIH ERH WETTIH XLI REXMSRtW ZMVXYI F] IRGSYVEKMRK WTIGYPEXMSR ERH XLI HIWMVI JSV WYHHIR YRIEVRIH [IEPXL 8LI (IQSGVEXW [ERXIH XLI VI[EVHW SJ XLI QEVOIX [MXLSYX WEGVM
JMGMRK XLI JIEXYVIW SJ E WMQTPI EKVEVMER VITYFPMG 8LI] [ERXIH XLI [IEPXL XLEX XLI QEV OIX SJJIVIH [MXLSYX XLI GSQTIXMXMZI GLERKMRK WSGMIX] XLI GSQTPI\ HIEPMRK XLI HSQMRERGI SJ YVFER GIRXIVW ERH XLI PSWW SJ MRHITIRHIRGI XLEX GEQI [MXL MX
0SSO EX XLI JSYV WUYEVIW ? A XLEX MRHMGEXI [LIVI XLI JSPPS[MRK WIRXIRGI GER FI EHHIH XS XLI TEWWEKI
8LMW RI[ TEVX] EVKYIH EKEMRWX XLI TSPMGMIW SJ .EGOWSR ERH LMW TEVX] MR E RYQFIV SJ MQTSVXERX EVIEW FIKMRRMRK [MXL XLI IGSRSQ]
;LIVI [SYPH XLI WIRXIRGI FIWX JMX#
(YVMRK .EGOWSRtW WIGSRH XIVQ LMW STTSRIRXW LEH KVEHYEPP] GSQI XSKIXLIV XS JSVQ XLI ;LMK TEVX] 8LMW RI[ TEVX] EVKYIH EKEMRWX XLI TSPMGMIW SJ .EGOWSR ERH LMW TEVX] MR E RYQFIV SJ MQTSVXERX EVIEW FIKMRRMRK [MXL XLI IGSRSQ] ;LMKW ERH (IQSGVEXW LIPH HMJJIVIRX EXXMXYHIW XS[EVH XLI GLERKIW FVSYKLX EFSYX F] XLI QEVOIX FEROW ERH GSQQIVGI 8LI (IQSGVEXW XIRHIH XS ZMI[ WSGMIX] EW E GSR XMRYMRK GSRJPMGX FIX[IIR qXLI TISTPIrhJEVQIVW TPERXIVW ERH [SVOIVWhERH E WIX SJ KVIIH] EVMWXSGVEXW 8LMW qTETIV QSRI] EVMWXSGVEG]r SJ FEROIVW ERH MRZIWXSVW QERMTYPEXIH XLI FEROMRK W]WXIQ JSV XLIMV S[R TVSJMX (IQSGVEXW GPEMQIH ERH WETTIH XLI REXMSRtW ZMVXYI F] IRGSYVEKMRK WTIGYPEXMSR ERH XLI HIWMVI JSV WYHHIR YRIEVRIH [IEPXL 8LI (IQSGVEXW [ERXIH XLI VI[EVHW SJ XLI QEVOIX [MXLSYX WEGVMJMGMRK XLI JIEXYVIW SJ E WMQTPI EKVEVMER VITYFPMG 8LI] [ERXIH XLI [IEPXL XLEX XLI QEVOIX SJJIVIH [MXLSYX XLI GSQTIXMXMZI GLERKMRK WSGMIX] XLI GSQTPI\ HIEPMRK XLI HSQMRERGI SJ YVFER GIRXIVW ERH XLI PSWW SJ MRHITIRHIRGI XLEX GEQI [MXL MX
(YVMRK .EGOWSRtW WIGSRH XIVQ LMW STTSRIRXW LEH KVEHYEPP] GSQI XSKIXLIV XS JSVQ XLI ;LMK TEVX] ;LMKW ERH (IQSGVEXW LIPH HMJJIVIRX EXXMXYHIW XS[EVH XLI GLERKIW FVSYKLX EFSYX F] XLI QEVOIX FEROW ERH GSQQIVGI 8LMW RI[ TEVX] EVKYIH EKEMRWX XLI TSPMGMIW SJ .EGOWSR ERH LMW TEVX] MR E RYQFIV SJ MQTSVXERX EVIEW FIKMRRMRK [MXL XLI IGSRSQ] 8LI (IQSGVEXW XIRHIH XS ZMI[ WSGMIX] EW E GSRXMRYMRK GSRJPMGX FIX[IIR qXLI TISTPIrhJEVQIVW TPERXIVW ERH [SVOIVWhERH E WIX SJ KVIIH] EVMWXSGVEXW 8LMW qTETIV QSRI] EVMWXSGVEG]r SJ FEROIVW ERH MR ZIWXSVW QERMTYPEXIH XLI FEROMRK W]WXIQ JSV XLIMV S[R TVSJMX (IQSGVEXW GPEMQIH ERH WETTIH XLI REXMSRtW ZMVXYI F] IRGSYVEKMRK WTIGYPEXMSR ERH XLI HIWMVI JSV WYHHIR YRIEVRIH [IEPXL 8LI (IQSGVEXW [ERXIH XLI VI[EVHW SJ XLI QEVOIX
+3 32 83 8,) 2)<8 4%+) K
83)*0 M&8 4VEGXMGI 8IWX
[MXLSYX WEGVMJMGMRK XLI JIEXYVIW SJ E WMQTPI EKVEVMER VITYFPMG 8LI] [ERXIH XLI [IEPXL XLEX XLI QEVOIX SJJIVIH [MXLSYX XLI GSQTIXMXMZI GLERKMRK WSGMIX] XLI GSQTPI\ HIEPMRK XLI HSQMRERGI SJ YVFER GIRXIVW ERH XLI PSWW SJ MRHITIRHIRGI XLEX GEQI [MXL MX
(YVMRK .EGOWSRtW WIGSRH XIVQ LMW STTSRIRXW LEH KVEHYEPP] GSQI XSKIXLIV XS JSVQ XLI ;LMK TEVX] ;LMKW ERH (IQSGVEXW LIPH HMJJIVIRX EXXMXYHIW XS[EVH XLI GLERKIW FVSYKLX EFSYX F] XLI QEVOIX FEROW ERH GSQQIVGI 8LI (IQSGVEXW XIRHIH XS ZMI[ WSGMIX] EW E GSRXMRYMRK GSRJPMGX FIX[IIR qXLI TISTPIrhJEVQIVW TPERXIVW ERH [SVOIVWhERH E WIX SJ KVIIH] EVMWXSGVEXW 8LMW RI[ TEVX] EVKYIH EKEMRWX XLI TSPMGMIW SJ .EGOWSR ERH LMW TEVX] MR E RYQFIV SJ MQTSVXERX EVIEW FIKMRRMRK [MXL XLI IGSRSQ] 8LMW qTETIV QSRI] EVMWXSGVEG]r SJ FEROIVW ERH MR ZIWXSVW QERMTYPEXIH XLI FEROMRK W]WXIQ JSV XLIMV S[R TVSJMX (IQSGVEXW GPEMQIH ERH WETTIH XLI REXMSRtW ZMVXYI F] IRGSYVEKMRK WTIGYPEXMSR ERH XLI HIWMVI JSV WYHHIR YRIEVRIH [IEPXL 8LI (IQSGVEXW [ERXIH XLI VI[EVHW SJ XLI QEVOIX [MXLSYX WEGVMJMGMRK XLI JIEXYVIW SJ E WMQTPI EKVEVMER VITYFPMG 8LI] [ERXIH XLI [IEPXL XLEX XLI QEVOIX SJJIVIH [MXLSYX XLI GSQTIXMXMZI GLERKMRK WSGMIX] XLI GSQTPI\ HIEPMRK XLI HSQMRERGI SJ YVFER GIRXIVW ERH XLI PSWW SJ MRHITIRHIRGI XLEX GEQI [MXL MX
(YVMRK .EGOWSRtW WIGSRH XIVQ LMW STTSRIRXW LEH KVEHYEPP] GSQI XSKIXLIV XS JSVQ XLI ;LMK TEVX] ;LMKW ERH (IQSGVEXW LIPH HMJJIVIRX EXXMXYHIW XS[EVH XLI GLERKIW FVSYKLX EFSYX F] XLI QEVOIX FEROW ERH GSQQIVGI 8LI (IQSGVEXW XIRHIH XS ZMI[ WSGMIX] EW E GSRXMRYMRK GSRJPMGX FIX[IIR qXLI TISTPIrhJEVQIVW TPERXIVW ERH [SVOIVWhERH E WIX SJ KVIIH] EVMWXSGVEXW 8LMW qTETIV QSRI] EVMWXSGVEG]r SJ FEROIVW ERH MRZIWXSVW QERMTYPEXIH XLI FEROMRK W]WXIQ JSV XLIMV S[R TVSJMX (IQSGVEXW GPEMQIH ERH WETTIH XLI REXMSRtW ZMVXYI F] IRGSYVEKMRK WTIGYPEXMSR ERH XLI HIWMVI JSV WYHHIR YRIEVRIH [IEPXL 8LMW RI[ TEVX] EVKYIH EKEMRWX XLI TSPMGMIW SJ .EGOWSR ERH LMW TEVX] MR E RYQFIV SJ MQTSVXERX EVIEW FIKMRRMRK [MXL XLI IGSRSQ] 8LI (IQSGVEXW [ERXIH XLI VI[EVHW SJ XLI QEVOIX [MXLSYX WEGVMJMGMRK XLI JIEXYVIW SJ E WMQTPI EKVEVMER VITYFPMG 8LI] [ERXIH XLI [IEPXL XLEX XLI QEVOIX SJJIVIH [MXLSYX XLI GSQTIXMXMZI GLERKMRK WSGMIX] XLI GSQTPI\ HIEPMRK XLI HSQMRERGI SJ YVFER GIRXIVW ERH XLI PSWW SJ MRHITIRHIRGI XLEX GEQI [MXL MX