research paper 1 - a primer on broker selling profiles

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7/21/2019 Research Paper 1 - A Primer on Broker Selling Profiles http://slidepdf.com/reader/full/research-paper-1-a-primer-on-broker-selling-profiles 1/15  IXW U[IE@AM @XX_OX Oji`n Hbatiht< isx`as`mgtsCmji`n.hbj [osoirhg Sipor 9 I Sr`jor ba Aba-Moau`ao Xonn`am [o< @as`mgts `atb w`eo riam`am sonn`am iabjin`os ba tgo IXW Sukn`sgoe Luao ;39? E@XHNI@JO[< Inn `adbrjit`ba prosoatoe is rosoirhg gis kooa sburhoe drbj krbfor trie`am rohbres, rom`stry rohbres iae pukn`h joe`i. ]g`no tgo iutgbr hbas`eors tgo eiti tb ko ihhurito iae droo drbj triashr`pt`ba orrbrs, ab muiriatoos hia ko m`voa romire`am hbahnus`bas iae/br hbjjoatiry prbv`eoe. @atorostoe roieors iro oahburimoe tb eb tgo`r bwa Euo E`n`moaho iae tb jifo up tgo`r bwa j`aes `a romire tb tgo hiusos bd iay troaes prosoat `a trie`am eiti. Hbpyr`mgt © ;39?

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Page 1: Research Paper 1 - A Primer on Broker Selling Profiles

7/21/2019 Research Paper 1 - A Primer on Broker Selling Profiles

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IXW U[IE@AM @XX_OX

Oji`n Hbatiht< isx`as`mgtsCmji`n.hbj

[osoirhg Sipor 9

I Sr`jor ba Aba-Moau`ao Xonn`am

[o< @as`mgts `atb w`eo riam`am sonn`am iabjin`os ba tgo IXW

Sukn`sgoe Luao ;39?

E@XHNI@JO[< Inn `adbrjit`ba prosoatoe is rosoirhg gis kooa sburhoe drbj krbfor

trie`am rohbres, rom`stry rohbres iae pukn`h joe`i. ]g`no tgo iutgbr hbas`eors tgo

eiti tb ko ihhurito iae droo drbj triashr`pt`ba orrbrs, ab muiriatoos hia ko m`voa

romire`am hbahnus`bas iae/br hbjjoatiry prbv`eoe. @atorostoe roieors iro

oahburimoe tb eb tgo`r bwa Euo E`n`moaho iae tb jifo up tgo`r bwa j`aes `a romire

tb tgo hiusos bd iay troaes prosoat `a trie`am eiti.

Hbpyr`mgt © ;39?

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;

% bd EU Xinos 

% bd Inn Xonn`am 

Krbfor ei`ny sonn`am prbd`nos s`jpny hbjpiro twb ittr`kutos bd trie`am dbr oihg krbfor. 

9.  tgo aujkor bd Ebwat`hf trieos ihg`ovoe ky i krbfor, tb inn Ebwat`hf trieos put tgrbumg tgo

jirfot (oxprossoe is i porhoatimo), iae

;. 

tgo sonn`am vbnujo suppn`oe ky i krbfor, hbjpiroe tb inn sonn`am tgit bhhurroe `a tgo jirfot(insb oxprossoe is i porhoatimo). 

Krbfor sonn`am prbd`nos iro insb oxpni`aoe `a tgo PbuUuko hn`p. 

XIJSNO K[BFO[ XONN@AM S[BD@NOX 

Krbfor pordbrjiahos is summostoe ky sonn`am prbd`nos viry jirfoeny, gbwovor i sjinn suksot bd

krbfors, inn w`tg hb-nbhit`ba pr`v`nomos, toae tb ebj`aito `a hius`am pr`ho roeuht`bas, iae tgoy toae tb

eb sb drbj j`a`jin vbnujos bd sonn`am.

@t `s i hbuator`atu`t`vo buthbjo iae `t ir`sos drbj tgo tua`am bd inmbr`tgjs. Kut `t pbrtoaes i jirfothbatrbnnoe ky jitgojit`hin dbrjunis, abt i jirfot rospbae`am tb tgo moau`ao dbrhos bd suppny iae

eojiae.

Ugo rosunt `s tgit pr`hos hia ko irt`d`h`inny sot w`tg ronit`vo oiso iae tgit sgbws up `a mrbss

uaeorvinuit`bas `a jiay hbjpia`os tirmotoe ky inmbr`tgj`h trie`am iae sgbrt sonn`am.

Krbfor sonn`am prbd`nos roprosoat i hbavoa`oat jotgbe tb

hbjpiro krbfors iae tb issoss tgo moau`aoaoss bd trie`am is

oxpni`aoe `a PbuUuko T`eob Krbfoa Jirfots 9 >N`af1.

Is i kis`s dbr issoss`am tgo moau`aoaoss bd trie`am, `d i

krbfor `s rospbas`kno dbr siy 93% bd inn sonn`am, tgoa

Ebwat`hfs bd irbuae 93% wbune ippoir roisbaikno.

@t wbune ko uaroisbaikno gbwovor `d siy, 9.?% bd inn sonn`amrosuntoe `a ;7% bd inn Ebwat`hf trieos.

Ba tgit kis`s tgo prbd`no bd Krbfor 9 `s roisbaikno iae

Krbfor 8 ippoirs sbjowgit odd`h`oat `a ivb`e`am pr`ho dinns

w`tg tgo`r sonn`am.

Gbwovor, tgo prbd`no bd Krbfor ; wbune ri`so pr`ho r`mm`am

hbahoras is tgo trie`am ebos abt rodnoht tgit bd i moau`ao

sonnor. Moau`ao sonnors wiat g`mgor pr`hos sb eba‐t iht tb

hiuso nbwor pr`hos tgrbumg oxohut`am nirmo aujkors bd

trieos tgit hiuso pr`ho dinns.

Aba-moau`ao sonn`am rosunts `a irt`d`h`in ielustjoats tb pr`hos

wg`hg roprosoats `nnomin iht`v`ty.

XONN@AM S[BD@NOX 

PbuUuko N`af

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[OMI[E@AM INMB[@UGJ@H U[IE@AM.

UGO BDD@H@IN SBX@U@BA [OMI[E@AM ABA-MOA_@AO XONN@AM IAE I[U@D@H@IN S[@HOX

@a hnir`d`hit`bas prbv`eoe ky IX@H tb i hbahoraoe `avostbr ikbut trieos tif`am pniho dbr lust i dow

sgiros, `t wis oxpni`aoe tgit oat`t`os hia uso inmbr`tgjs tb j`a`j`zo tgo `jpiht ba tgo jirfot wgoa

sonn`am i nirmo pirhon bd sgiros ky e`v`e`am tgo pirhon up breor up `atb sjinn pirhons, iae tgoa oxohut`am

tgo sjinn trieos bvor t`jo.

Ugo oxpniait`ba ippoirs roisbaikno kut jifos ab innbwiaho dbr tgo jia`punit`vo trieos tgit tifo

pniho wgoro inmbr`tgjs iro tuaoe tb dbrho pr`ho roeuht`bas (`.o. Ebwat`hfs) `a divbur bd trie`am

imoaeis, ritgor tgia tb moau`aony e`spbso bd sgiros.

Ub sujjir`so<

Xjinn vbnujos bd sonn`am rosunt`am `a nirmo aujkors bd pr`ho dinns `eoat`d`os w`tg jirfot r`mm`am is `t

rosunts `a irt`d`h`in ielustjoats tb pr`hos.

Xuhg sonn`am `s pirt`hunirny euk`bus wgoa Ebwat`hfs iro tgo rosunt bd krbfor hrbss`ams.

Xjinn hrbss trieos tgit `jpiht pr`hos, wg`no ippoir`am dr`vbnbus, iro aovortgonoss oxohutoe dbr g`mgny

stritom`h purpbsos.

@a jbeora jirfots, t`ay prbd`ts ropoitoe bvor iae bvor ijbuat tb sukstiat`in mi`as wg`hg joias tgitinn aba-moau`ao ielustjoats tb pr`hos roqu`ro tgo hnbsost bd shrut`ay.

Euk`bus Krbfor Xonn`am

@a jbeora jirfots, t`ay prbd`ts ropoitoe bvor iae bvor ijbuat tb sukstiat`in mi`as wg`hg joias tgit inn

aba-moau`ao ielustjoats tb pr`hos roqu`ro tgo hnbsost bd shrut`ay.

I eoh`s`ba ky tgo Iustrin`ia G`mg Hburt `a Luao ;398 `s pirt`hunirny gonpdun `a ko`am ikno tb issosswgit j`mgt hbast`tuto aba-moau`ao sonn`am.

Ugo Iustrin`ia G`mg Hburt s`jpny stitoe tgit i moau`ao kuyor soofs tb piy tgo j`a`juj dbr sgiros

abt piy up br dbr g`mgor pr`hos, iae ky `adoroaho, `t `s hnoir tgit i moau`ao sonnor soofs tb jix`j`zo

tgo prbhooes bd sinos, abt pusg pr`hos nbwor.

I krbfor w`tg i hbjpirit`vony j`abr jirfot sgiro ky sonn`am vbnujo, wgb insb gippoas tb ko i

noie`am suppn`or bd Ebwat`hf triasiht`bas, tgorodbro ittrihts i mroit eoin bd susp`h`ba. Xonn`am

hgirihtor`st`hs bd tgit typo `eoat`dy w`tg aba-moau`ao `atoat wgoro tgo dbhus `s tb eon`koritony

`jpiht pr`hos ritgor tgia tb moau`aony oxhgiamo sgiros.

@t `s vory hnoir `a trie`am eiti tgit inmbr`tgjs bddor tgo e`shrot`ba tb o`tgor `jpiht pr`hos br tb trieow`tgbut hius`am pr`ho dinns, iae `t hbjos ikbut tgrbumg tgo hgb`ho bd inmbr`tgjs iae tgrbumg tgo

sott`ams suppn`oe tb tgoj ky krbfors.

Ugo G`mg Hburt insb hnir`d`oe tgit aba-moau`ao trie`am rosunts `a irt`d`h`in pr`hos wg`hg hbast`tutos

`nnomin iht`v`ty uaeor tgo Hbrpbrit`bas Iht.

@t joias tgit ko`am ikno tb `eoat`dy aba-moau`ao trie`am `s v`tinny `jpbrtiat `d pr`ho r`mm`am `s tb ko

provoatoe.

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XONN@AM S[BD@NOX DB[ SIAI_XU NUE (SAI) BA JIP 9;, ;39?

Ugo dbnnbw`am hgirt sujjir`zos tgo doituros tgit romunirny ippoir `a krbfor sonn`am prbd`nos.

Ugo hgirts tgit dbnnbw sgbw saipsgbts bd trie`am ihrbss i riamo bd hbjpia`os eur`am Bhtbkor ;398, iaeroprosoat tgo trie`am tgit bhhurroe ba Bhtbkor 9, Bhtbkor 9? iae Bhtbkor 89.

Ugo oxtoat bd aba-moau`ao trie`am `s hnoirny ov`eoat. Ugo hgirts aooe tb ko v`owoe drbj tgo porspoht`vo

tgit aba-moau`ao trie`am `s issbh`itoe w`tg irt`d`h`in ielustjoats tb pr`hos `.o., iht`v`ty eoojoe tb ko

`nnomin.

Ugo eiti troaes iro hnoirny abt `sbnitoe ovoats kut purpbsodunny hbjo ikbut tgrbumg tgo tua`am bd

inmbr`tgjs.

Ugo hbjpia`os sujjir`zoe `ahnueo<

HX[ ‘ HX[ N`jtoe NO@ - No`mtba Gbne`ams

[XM ‘ [osbnuto J`a`am XKJ ‘ Xt Kirkiri

FI[ ‘ Firbba Mis SKM ‘ Sih`d`h Kriaes

OMS ‘ Ohgb Oatorti`ajoat DJM ‘ Dbrtoshuo

Urie`am a SiaIust Nte (SAI) ba Jiy 9;, ;39?

Ugo hgirt rodnohts sonn`am pittoras

tgit iro hbjpnotony it bees w`tg gbw

moau`ao sonnors bporito.

Irbuae 70% bd krbfor [KX Jbrmia‐s

Ebwat`hf trieos gie ia ivorimo

pirhon s`zo bd lust 87 sgiros, wbrtg

irbuae $=3 oihg. Inn woro hrbss`ams.

@a hbatrist tgo sonn`am ky _KX iae

LSJ wis untri-odd`h`oat `a giv`amj`a`jin `jpiht ba pr`hos.

Ugo trie`am pittoras iro dir rojbvoe

drbj tgbso oxpohtoe `a i di`r jirfot

er`voa ky tgo moau`ao dbrhos bd

suppny iae eojiae.

Aba-moau`ao

sonn`am prbd`nos Euk`busny

odd`h`oat prbd`nos

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?

.

HX[ Bhtbkor 9

HX[ Bhtbkor 9?

HX[ Bhtbkor 89

NO@ Bhtbkor 9

NO@ Bhtbkor 9?

NO@ Bhtbkor 89

Oxij nos bd Xonn`a Iabjin os `a Ei n Urie`a  ‘ Bhtbkor ;398

Aba-moau`ao

sonn`am prbd`nos

iro h`rhnoe

% bd EU Xinos

% bd Inn Xonn`am 

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[XM Bhtbkor 9

[XM Bhtbkor 9?

[XM Bhtbkor 89

XKJ Bhtbkor 9

XKJ Bhtbkor 9?

XKJBhtbkor 89

Oxij nos bd Xonn`a Iabjin os `a Ei n Urie`a  ‘ Bhtbkor ;398

Aba-moau`ao

sonn`am prbd`nos

iro h`rhnoe

% bd EU Xinos

% bd Inn Xonn`am 

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=

FI[ Bhtbkor 9

FI[ Bhtbkor 9?

FI[ Bhtbkor 89

SKM Bhtbkor 9

SKM Bhtbkor 9?

SKM Bhtbkor 89

Oxij nos bd Xonn`a Iabjin os `a Ei n Urie`a  ‘ Bhtbkor ;398

Aba-moau`aosonn`am prbd`nos

iro h`rhnoe

% bd EU Xinos

% bd Inn Xonn`am 

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OMS Bhtbkor 9

OMS Bhtbkor 9?

OMS Bhtbkor 89

DJM Bhtbkor 9

DJM Bhtbkor 9?

DJM Bhtbkor 89

Oxij nos bd Xonn`a Iabjin os `a Ei n Urie`a  ‘ Bhtbkor ;398

Aba-moau`ao

sonn`am prbd`nos

iro h`rhnoe

% bd EU Xinos

% bd Inn Xonn`am 

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0

KGS K@NN@UBA EI@NP XONN@AM S[BD@NOX< Bhtbkor ;398 Urie`am 

Iabjinbus troaes `a krbfor sonn`am prbd`nos dbr trie`am `a KGS K`nn`tba eur`am Bhtbkor ;398 iro imi`a hnoirny

ov`eoat. Ovoa w`tg i g`mgny n`qu`e stbhf suhg is KGS, tgo prbd`nos bd krbfors wgb iro tgo noie`am sonnors bd

Ebwat`hf trieos usuinny rodnoht aba-moau`ao pittoras bd trie`am.

KGS Bhtbkor 9

KGS Bhtbkor 9?

KGS Bhtbkor 89

Ba Bhtbkor 9, tgo prbd`nos bd Jorr`nn Nyahg iae @ast`aot kbtg rodnoht

aba-moau`ao sonn`am prbd`nos.

_KX Xohur`t`os insb sgbws i k`is tbwires hius`am Ebwat`hfs a pr`hos.

H`t`mrbup iae Eoutoshgo Kiaf ippoir oxtrojony odd`h`oat w`tg tgo`r

sonn`am.

@t `s oxtribre`airy tgit `a i g`mgny

n`qu`e stbhf suhg is KGS, i

krbfor w`tg lust 9% bd inn sonn`am

hia ko rospbas`kno dbr 9=% bd inn

trieos issbh`itoe w`tg

roeuht`bas a pr`ho.

H`t`mrbup inbam w`tg Hroe`t

Xu`sso woro sooj`amny odd`h`oat

sonnors w`tg ronit`vony j`a`jin

`jpiht tb pr`hos drbj sukstiat`in

novons bd sonn`am.

Ba Bhtbkor 9?, ,tgo prbd`no bd

@ast`aot imi`a sgbws tgo

hgirihtor`st`hs bd aba-moau`ao

sonn`am.

Aba-moau`ao sonn`am wisa‐t is bkv`bus ba Bhtbkor 89, ipirt

drbj @ast`aot wgb imi`a dbhussoe ba hius`am pr`ho roeuht`bas

w`tg tgo sjinn vbnujos bd sonn`am tgoy put tgrbumg tgo jirfot.

Aba-moau`aosonn`am prbd`nos

iro h`rhnoe

% bd EU Xinos

% bd Inn Xonn`am 

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93

Krbfors wgb sgbw up `a ei`ny hgirts is ko`am noie`am sonnors bd Ebwat`hf trieos toae tb rbtito rbnos drbj bao eiy tb

tgo aoxt. Ugo dnuhtuit`bas hbune ko riaebj iae uaronitoe, br tgoy hbune ko ky eos`ma w`tg prbpr`otiry trie`am

stritom`hinny wbuae kihf br `ahroisoe, br oat`t`os hbune ko sw`thg`am krbfors drbj eiy tb eiy. @t `s wgy iue`ts iro

roqu`roe tb mot tb tgo kbttbj bd trie`am iabjin`os.

KGS K@NN@UBA< OWUOAEOE XONN@AM S[BD@NOX

Krbfors wgb ojormo w`tg iabjinbus prbd`nos bvor oxtoaeoe por`bes bd t`jo sgbw i hbahoatrit`ba bd aba-moau`ao

sonn`am. Jorr`nn Nyahg iae @ast`aot (konbw) iro hisos `a pb`at `a trie`am dbr KGS bvor inn bd Bhtbkor ;398.

Ugo sonn`am `a tgo hgirt roprosoats inn krbfor sonn`am bvor tgo oat`ro jbatg, iae tgo Ebwat`hfs rodor tb inn Ebwat`hfs

rohbreoe bvor tgo oat`ro jbatg. Ugo hgirt roprosoats i vory nirmo ijbuat bd eiti. @t jifos trie`am iabjin`os

pirt`hunirnry s`ma`d`hiat is `t rodnohts oatroahgoe kogiv`burs e`htitoe ky tgo tua`am bd inmbr`tgjs, abt tgo moau`ao

dbrhos bd suppny iae eojiae.

@a issoss`am tgo eiti, bany trieos konbw ;3,333 sgiros `a s`zo woro hbas`eoroe. @t joiat tgit krbfor jirfot sgiros

romire`am sonn`am vbnujos woroa‐t `adnuoahoe ky tgo vory nirmo hrbss trieos tgit tifo pniho `a i stbhf suhg is KGS.

3%

;%

5%

4%

7%

93%

9;%

95%Krbfor Xonn`am Srbd`nos dbr KGS Urie`am ‘ Bhtbkor ;398

Xtrbam novons bd aba-

moau`ao sonn`am2

% bd EU Xinos

% bd Inn Xonn`am 

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99

Jorr`nn Nyahg (JO[N) Ei`ny Srbd`nos ‘ Bhtbkor ;398

Ugo prbj`aoaho ky Jor`nn Nyahg (JO[N) romire`am tgo dbrh`am bd Ebwat`hfs w`tg tgo`r trie`am romire`am KGS eur`am

Bhtbkor ;398, s ojpgis`zoe durtgor ky issoss`am tgo`r ei`ny trie`am prbd`nos bvor tgo hburso bd tgo jbatg

@ast`aot (@AXU) Ei`ny Srbd`nos ‘ Bhtbkor ;398

@ast`aot‐s prbj`aoaho wis jbro spisjbe`h tgia Jorr`nn Nyahg kut ba pirt`hunir eiys tgo`r aba-moau`ao sonn`am wispirt`hunirny prbabuahoe. Aba-moau`ao sonn`am moaorinny `s hbatristoe w`tg sonn`am ba eiys suhg is Bhtbkor 0, 93 iae

95 wgoro inmbr`tgjs woro tuaoe juhg e`ddoroatny tb btgor eiys. Ugo dnox`k`n`ty dbr inmbr`tgjs tb ko tuaoe tb `jpiht

pr`hos joias tgit irt`d`h`in ielustjoats tb pr`hos hia ko `jpbsoe it w`nn.

Ugo roin`ty bd irt`d`h`in pr`hos s kbrao but ky uaeor-vinuit`bas a stbhfs suhg is SiaIust Nte wg`hg kohbjo

vunaorikno tb tifobvor.

3%

?%

93%

9?%

;3%

;?%

83%

Bht

9

Bht

;

Bht

8

Bht

5

Bht

=

Bht

7

Bht

0

Bht

93

Bht

99

Bht

95

Bht

9?

Bht

94

Bht

9=

Bht

97

Bht

;9

Bht

;;

Bht

;8

Bht

;5

Bht

;?

Bht

;7

Bht

;0

Bht

83

Bht

89

 

3%

?%

93%

9?%

;3%

;?%

Bht

9

Bht

;

Bht

8

Bht

5

Bht

=

Bht

7

Bht

0

Bht

93

Bht

99

Bht

95

Bht

9?

Bht

94

Bht

9=

Bht

97

Bht

;9

Bht

;;

Bht

;8

Bht

;5

Bht

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Bht

;7

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;0

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83

Bht

89

Ei`ny Xonn`am Srbd`nos dbr JO[N a [onit`ba tb KGS trie`am ‘ Bhtbkor ;398

Aba-moau`ao

sonn`am2

Ei`ny Xonn`am Srbd`nos dbr @AXU a [onit`ba tb KGS trie`am ‘ Bhtbkor ;398

@ast`aot gis i g`stbry bd

aba-moau`ao sonn`am is

rovoinoe ky d`aos pi`e dbr

wrbam-eb`am a Iustrin`i

iae onsowgoro.

% bd EU Xinos

% bd Inn Xonn`am 

% bd EU Xinos

% bd Inn Xonn`am 

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9;

BUGO[ OWUOAEOE K[BFO[ S[BD@NOX

Durtgor jbatgny iabjin`os iro g`mgn`mgtoe konbw tb eojbastrito tgit tgo prbknojs suhg is tgbso ov`eoat a KGS

iro systoj`h, abt riaebj ovoats.

Ugo oxtoat bd iabjin`os iro durtgor g`mgn`mgtoe a tgo sor`os bd PbuUuko prosoatit`bas n`stoe a Krbfoa Jirfots ;. 

IH[_W N@J@UOE (IH[)< Jbatgny Srbd`no Dbr Eohojkor ;398

XU KI[KI[I (XKJ)< Jbatgny Srbd`no dbr Bhtbkor ;398

3%

;%

5%

4%

7%

93%

9;%

95%

94%

97%

;3%

 

3%

;%

5%

4%

7%

93%

9;%

95%

94%

97%

E`sturk`am troaes `a ojp`r`hin

eiti iro i roin`ty bd IXW trie`am.

Ugo troaes iro hojoatoe `atb

trie`am eiti iae tgoy hbjo

ikbut tgrbumg tgo tua`am bd

inmbr`tgjs tgit ahbrpbrito

sgbrt sonn`am trieos.

Sirt`hunir krbfors rbut`aony givo

iabjinbus sonn`am prbd`nos tgit

`eoat`dy w`tg aba-moau`ao

sonn`am, yot tgo`r prbd`nos hia

summost moau`ao trie`am it btgor

t`jos.

Ugoro iro ab pnius`kno

oxpniait`bas tgit hia sjbbtg

iwiy hbahoras iae it tgo sijo

t`j sit`sdy di`r trie`am iae nomin

mu`eon`aos.

Ugo troaes `eoat`dy w`tg aba-

moau`ao trie`am, iae tgorodbro

irt`d`h`in pr`hos.

Ugo troaes sgbw tgit trie`am

tgit `eoat`d`os w`tg ko`am `nnomin

`s ko`a siaht`baoe.

Xtrbam novons bd aba-

moau`ao sonn`am2

Xtrbam novons bd aba-

moau`ao sonn`am2

% bd EU Xinos dbr Eoh ;398 

% bd Inn Xonn`am dbr Eoh ;398 

% bd EU Xinos dbr Bht ;398 

% bd Inn Xonn`am dbr Bht ;398 

Xujjiry

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Aba-Moau`ao Kuy`am

Aba-moau`ao krbfor prbd`nos iro abt hbad`aoe tb sonn`am. [osoirhg gis sgbwa tgit aba-moau`ao

kuy`am `s insb w`eosproie. @t `avbnvos krbfors w`tg ronit`vony sjinn kuy`am vbnujos `a tgo jirfot

moaorit`am nirmo aujkors bd triasiht`bas tgit rosunt `a pr`ho `ahroisos. `.o., aba-moau`ao sonn`am `s

jithgoe ky aba-moau`ao kuy`am.

]`eo riam`am iabjin`os tgit `nnustrito aba-moau`ao trie`am rodnoht ba i sukstiat`inny hbjprbj`soe

systoj bd trie`am wgoro tgo jirfot `s provoatoe drbj iht`am is i truo jirfot. @t `s kohiuso

inmbr`tgj`h triasiht`bas tgit prbeuho irt`d`h`in ielustjoats tb pr`hos `atordoro w`tg di`r pr`ho

e`shbvory.

Jbrobvor, tgo `jpiht ba pr`ho e`shbvory stojs drbj iht`v`t`os tgit `eoat`dy w`tg ko`am `nnomin is

tgoy `avbnvo irt`d`h`in ielustjoats tb pr`hos.

Hbnnus`vo @atoriht`bas

Dbr ovory aba moau`ao sino tgoro `s i kuyor tif`am tgo btgor s`eo bd tgo trieo, iae s`j`nirny, tgoro `s

i sonnor tif`am tgo btgor s`eo bd ovory aba-moau`ao purhgiso. [osoirhg gis eojbastritoe tgit

tgbso ba tgo btgor s`eo bd aba-moau`ao triasiht`bas iro insb issbh`itoe w`tg iabjinbus troaes.

Ugo troaes iro ov`eoat w`tg pirt`hunir krbfors ko`am suhhossdun `a romire tb<

kuy`am nirmo aujkors bd Ebwat`hf trieos kut drbj j`a`jin vbnujos bd kuy`am.

roho`v`am _pt`hfs dbr sonn`am trieos, kut drbj j`a`jin vbnujos bd sonn`am.

Ugoso durtgor iabjin`os iro abt tgo rosunt bd mbbe nuhf br oxhopt`bain trie`am sf`nns. [itgor, tgoy

summost hbnnus`vo `atoriht`bas kotwooa eos`maitoe sonnors iae prodorroe kuyors6 abt tgo sbrt bd

iht`v`ty oxpohtoe `a i moau`ao jirfot pniho.

Intorait`vo Urie`am Toauos

Durtgor iabjin`os `a trie`am eiti sgbw gbw pr`hos hia ko irt`d`h`inny hbatrbnnoe tgrbumg trieos

ko`am e`rohtoe tb tgo Hg` W oxhgiamo.

Ugo n`mgtny trieoe Hg` W voauo `s usoe tb jima`dy ielustjoats tb pr`hos, wgoro dbr oxijpno trie`am

dbr Ihrux (IH[) eur`am Eohojkor ;398 sgbwoe tgit w`tg bany 0.4% bd trie`am vbnujos e`rohtoe

tgrbumg Hg` W, tgo roeuhoe sonn`am vbnujos aovortgonoss rosuntoe `a 88.=% bd inn Ebwat`hf

triasiht`bas tgit bhhurroe dbr tgo jbatg. @t `s ia oxtrojony rovoin`am stit`st`h.

Intorait`vo voauos, wgotgor `t ko Hg` W, br aba-triaspiroat eirf pbbns rua ky `avostjoat kiaf

krbfors, hnoirny prbv`eo `ahroisoe dnox`k`n`ty tb oamimo `a aba-moau`ao trie`am.

Urie`am Imoaeis @jpnojoatoe tgrbumg Inmbr`tgjs

Urie`am tgit `avbnvos ia ‗inmbr`tgj`h tojpnito‐ ko`am ippn`oe tb inn stbhfs `rrospoht`vo bd

duaeijoatins, tgo sohtbr, br btgor dihtbrs, givo insb kooa `eoat`d`oe `a trie`am eiti. @t summosts tgoronoatnoss `jpnojoatit`ba bd trie`am imoaeis iae `t `avbnvos sukstiat`in novons bd aba-moau`ao

sonn`am. ([odor goro iae goro) 

Durtgor Iabjin`os

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95

Inn iabjin`os iro dunny oxpni`aoe `a tgo ‗Krbfoa Jirfot‐ sor`os bd tutbr`ins ivi`nikno >goro1. Hgohf tgo

woks`to is wg`no sbjo iro inroiey ivi`nikno, btgors w`nn ko pbstoe is sbba is tgoy kohbjo ivi`nikno.

[oieors iro `av`toe tb rom`stor tb roho`vo ia oji`n inort ky soae`am i roquost tb isx`as`mgtsCmji`n.hbj

[ohbjjoaeoe N`af

Krbfoa Jirfots ;  ‘ I sujjiry bd rosoirhg d`ae`ams is prosoatoe `a i sor`os bd PbuUuko v`eobs, iae inn dunny

suppbrtoe ky troaes `a ojp`r`hin eiti.

Ugo d`ae`ams givo oabrjbus `jpn`hit`bas dbr bur sb hinnoe ‗di`r iae breorny‐ jirfot systoj. Uroaes `a IXW

eiti rovoin i systoj tgit `s dir e`ddoroat tgia bdd`h`inny prbjbtoe iae `t `s kohiuso irt`d`h`in ielustjoats tb

pr`hos hia rosunt `a r`mmoe jirfots `a wgitovor stbhfs ittrihts tgo `atorost bd proeitbry trieors.

>Hnbso tgo hurroat wok krbwsor tb rotura tb isx`as`mgts.hbj1 

Ugo hruh`in ispoht tb trie`am iabjin`os `s tgit tgo troaes hb`ah`eo w`tg tgo roqu`rojoats aooeoe dbr

sgbrt sonn`am tb ko suhhossdunny `jpnojoatoe. @t `s abt i hb`ah`eoaho.

I suhhossdun sgbrt sonn`am hyhno roqu`ros<

9. Xinos tb ko oatoroe `atb tgo jirfot w`tgbut `jpiht`am pr`ho6

;. Sr`hos tb dinn6

8. Xgbrt sbne pbs`t`bas tb ko hbvoroe tgrbumg ro-purhgisos drbj tgo jirfot, imi`a w`tgbut

`jpiht`am pr`ho6 iae

5. Sr`hos tb r`so.

Ugo hyhno hia tgoa ropoit.

Is `t gippoas, trie`am iabjin`os `eoat`d`oe ky rosoirhg gippoa tb hb`ah`eo w`tg inn roqu`rojoats dbr

suhhossdun sgbrt sonn`am.

9. Odd`h`oat sonn`am ( .o., sinos w`tg j`a`jin `jpiht tb pr`hos) 

;. Aba-moau`ao sonn`am hius`am roeuht`bas a pr`ho 

8. Odd`h`oat kuy`am ( .o., purhgisos w`tg j`a`jin `jpiht tb pr`hos) 

5. Aba-moau`ao kuy`am hius`am `ahroisos a pr`ho 

Xgbrt Xonn`am @ssuos

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9?