Check Point Certified Security Engineer

  %UDLQ%X]] &UDPVHVVLRQ TM   Notice: While every precaution has been taken in the preparation of this material, neither the author nor BrainBuzz.com assumes any liability in the event of loss or damage directly or indirectly caused by any inaccuracies or incompleteness of the material contained in this document. The information in this document is provided and distributed “as-is”, without any expressed or implied warranty. Your use of the information in this document is solely at your own risk, and Brainbuzz.com cannot be held liable for any damages incurred through the use of this material. The use of product names in this work is for information purposes only, and does not constitute an endorsement by, or affiliation with BrainBuzz.com. Product names used in this work may be registered trademarks of their manufacturers. This document is protected under US and international copyright laws and is intended for individual, personal use only. For more details, visit our legal page . © 2000 All Rights Reserved – BrainBuzz.com /DVWXSGDWHG-XQH&OLFN KHUH IRUXSGDWHV &OLFNKHUH WRVHHDGGLWLRQDO GRFXPHQWVUHODWHGWRWKLVVWXG\ JXLGH  &RQWHQWV 8r  SrrÃHhhtrrÃ6puvrpr ! AvrhyyÃHqyr! HhhtrrÃ8yr! BVDÃ8yvr " Gvprvt " TrÃÃhqÃpsvthv " 6qvvhÃytÃvÃpr# SrvtÃSrrÃHhhtrr $ QyhprrÃsÃTQAÃAvyr$ SrÃTrpvÃHhhtrr$ @pvÃUrpuyt % 6rvpÃrpv% TrvpÃrpvÃ9@TÃ"9@TÃ AXa ÃS8!ÃS8# % 9vssrrÃUr)& FrÃHhhtrrÃTpurr ' TrÃÃrÃÃWQI( GhqÃ7hyhpvt   7hyhpvtÃ6ytvu)   GtÃChqyvtÃhqÃVrÃ6pvvvrÃ Uhpxvt  TIHQ  DhÃ8hq ! &UDPVHVVLRQIRU &KHFN3RLQW &HUWLILHG6HFXULW\ (QJLQHHU;  $EVWUDFW 7KLV&UDPVHVVLRQZLOOKHOS\RXWR SUHSDUHIRU&KHFN3RLQW([DP&&6([ &KHFN3RLQW&HUWLILHG6HFXULW\(QJLQHHU ;([DPWRSLFVLQFOXGH)LUH:DOO &RQILJXUDWLRQ&30$'DQG6<1'HIHQGHU &RQILJXUDWLRQ(QFU\SWLRQ7HFKQRORJ\ 931$UFKLWHFWXUHDQG'HSOR\PHQW $SSOLFDWLRQVDQG/RDG%DODQFLQJ0RGHV         %UDLQ%X]]&UDPVHVVLRQ&KHFN3RLQW&HUWLILHG6HFXULW\(QJLQHHU;  &KHFN3RLQW&HUWLILHG6HFXULW\(QJLQHHU ;  5HPRWH0DQDJHPHQW$UFKLWHFWXUH  • $WLHUDUFKLWHFWXUHWKHUHFDQEHPDQ\GLIIHUHQWORFDWLRQVVHFXULW\ HQIRUFHPHQWSRLQWVFRQWUROOHGE\DFHQWUDO0DQDJHPHQW&RQVROH $GPLQLVWUDWRUVFDQDGPLQLVWHUWKHVHFXULW\V\VWHPHLWKHUGLUHFWO\YLDWKH FRQVROHRUE\UXQQLQJ*8,FOLHQWVFRQQHFWHGWRWKH0DQDJHPHQW&RQVROH WKURXJKWKHQHWZRUNIURPDQRWKHUGHVNWRS  )LUHZDOO0RGXOHV 5HVSRQVLEOHIRU • (QIRUFLQJVHFXULW\SROLF\ • 5HSRUWLQJVWDWXVDQGORJGDWDWRLWVPDQDJHPHQWVHUYHU  5XQVRQ • 6XQ+3 • :LQGRZV17 • ,%056 • %D\1HWZRUNV&LVFRDQG&RP5RXWHUV • ;\ODQDQG,SVLORQ6ZLWFKHV  Inspection Engine uses Stateful Inspection Technology • 8VHVFRQWH[WWRGHWHUPLQHLIDFRPPXQLFDWLRQUHTXHVWVKRXOGEHDOORZHG • 8QGHUVWDQGVWKHLQWHQWRIDJLYHQFRPPXQLFDWLRQE\OHDUQLQJIURPSUHYLRXV FRPPXQLFDWLRQVHVVLRQVDQGDOORZVLWWKURXJKIRUWKHGXUDWLRQRIWKHVHVVLRQ • %XLOGVXSDG\QDPLFVWDWHWDEOHWRVWRUHVWDWHLQIRUPDWLRQ • &ORVHVWKHQHHGHGSRUWZKHQWKHFOLHQWVHVVLRQFRQFOXGHV  0DQDJHPHQW&RQVROH 5HVSRQVLEOHIRU • 0DQDJLQJREMHFW'%VUXOHEDVHVORJILOHV • &RQFXUUHQWDGPLQLVWUDWLYHDFFHVVZLWKYDU\LQJULJKWV   %UDLQ%X]]&UDPVHVVLRQ&KHFN3RLQW&HUWLILHG6HFXULW\(QJLQHHU;    5XQVRQ • 6XQ26 • 6RODULV • 6RODULV[ • +38; • :LQGRZV17 • $,;  *8,&OLHQWV 5HVSRQVLEOHIRU • %XLOGLQJREMHFWVUXOHV • 9LHZVORJVDQG):VWDWXV  5XQVRQ • :LQGRZV17 • ;0RWLI6XQ+3$,;  • *8,LVDYDLODEOHRQO\IRU:LQ17DQG0RWLI7KHH[DPIRFXVHVRQWKH *8,QRWWKHFRPPDQGOLQH7KHGLIIHUHQW*8,VDUH6HFXULW\3ROLF\(GLWRU IRUVHWWLQJXSWKHVHFXULW\VHWWLQJV/RJ9LHZHUIRUYLHZLQJWKHORJVDQG 6\VWHP6WDWXVWRROIRUYLHZLQJWKHFXUUHQWVWDWLVWLFVRIGLIIHUHQWILUHZDOO FRPSRQHQWV1HWZRUN2EMHFW0DQDJHULVDIXQFWLRQZLWKLQWKH3ROLF\(GLWRU,W LVXVHGWRFUHDWHREMHFWVVRWKDWZHFDQSODFHWKHREMHFWVLQWKHUXOHEDVHDQG VHWXSFRUUHVSRQGLQJVHFXULW\UXOHV  /LFHQVLQJ • )RUWKH6LQJOH*DWHZD\3URGXFWWKHUHLVRQO\RQH)LUHZDOO0RGXOHFRQWUROOHG E\RQH0DQDJHPHQW&RQVROHDQGWKH\KDYHWREHLQVWDOOHGRQWKHVDPH PDFKLQHPHDQLQJWKHUHLVRQO\RQHVHFXULW\HQIRUFHPHQWSRLQW+RZHYHU\RX FDQVWLOOUXQWKH*8,FOLHQWIRUPDQRWKHUGHVNWRS)RUPXOWLSOHJDWHZD\ SURGXFWVWKHUHFRXOGEHPXOWLSOHHQIRUFHPHQWSRLQWV)RUH[DPSOH)LUHZDOO ,QWHUQHW*DWHZD\PHDQV\RXFDQKDYHXSWR)LUHZDOOPRGXOHV FRQWUROOHGE\RQH0DQDJHPHQW&RQVROH  6HWXSDQGFRQILJXUDWLRQ • 7RVHWXSWKH0DQDJHPHQW&RQVROHILUVWUXQ&RQILJXUDWLRQ0DQDJHURQWKH UHPRWH17PDQDJHPHQWVWDWLRQDQGFUHDWHWKHDGPLQLVWUDWRUDFFRXQWVYLD WKH$GPLQLVWUDWRUVWDE7KHQDGGWKH,3DGGUHVVHVRIWKH*8,&OLHQWVWKDWFDQ %UDLQ%X]]&UDPVHVVLRQ&KHFN3RLQW&HUWLILHG6HFXULW\(QJLQHHU;  ORJLQWRWKHORFDOJDWHZD\YLDWKH*8,&OLHQWVWDE)LQDOO\ORJLQWRWKH 0DQDJHPHQW&RQVROHYLDWKH*8,&OLHQWV6HFXULW\3ROLF\/RJLQZLQGRZ • 2Q8QL[VHWXSLQYROYHVUXQQLQJWKHFRPPDQG³IZP±D´RQWKH0DQDJHPHQW &RQVROHWRDGGWKHQHFHVVDU\)LUH:DOODGPLQLVWUDWRUDFFRXQWV(GLWWKH HWFIZFRQIJXLFOLHQWVILOHRQWKH0DQDJHPHQW&RQVROHDQGDGGWKH,3 DGGUHVVHVRUKRVWQDPHVRIWKH*8,&OLHQWKRVWVWKDWDUHDOORZHGWRUHPRWHO\ ORJLQ  $GPLQLVWUDWRUORJLQSURFHVV • *8,FOLHQWWUDQVPLWVWKHDGPLQLVWUDWRUVXVHUQDPHDQGSDVVZRUGWRWKH 0DQDJHPHQW&RQVROH$IWHUYDOLGDWLQJWKH*8,FOLHQWV,3DGGUHVVWKH 0DQDJHPHQW&RQVROHV):0DXWKHQWLFDWHVWKHDGPLQLVWUDWRUVXVHUQDPH SDVVZRUGDQGDVVLJQVWKH*8,FOLHQWLWVDFFHVVFRQWUROULJKWVDQGVHQGVDORQJ WKHDSSURSULDWHGDWDEDVHLQIRUPDWLRQLQFOXGLQJVHFXULW\SROLF\REMHFW GDWDEDVHVORJGDWDEDVHHWF  o $GPLQLVWUDWRUFDQKDYHGLIIHUHQWOHYHOVRIDFFHVVULJKWV o 0RQLWRU2QO\DFFHVVRQO\WRWKHORJYLHZHUDQGV\VWHPVWDWXVWRROLQ UHDGRQO\PDQQHU o 5HDG2QO\LQDGGLWLRQWRWKHULJKWVHQMR\HGE\0RQLWRU2QO\ DGPLQLVWUDWRUFDQDFFHVVWKH6HFXULW\3ROLF\(GLWRULQUHDGRQO\PDQQHU o 8VHU$FFHVVDGPLQLVWUDWRUFDQPRGLI\XVHULQIRUPDWLRQEXWQRWKLQJ HOVH o 5HDG:ULWH$FFHVVDGPLQLVWUDWRUFDQGRHYHU\WKLQJ2QO\RQH DGPLQLVWUDWRUFDQORJLQXVLQJWKLVPRGHDWDWLPH  &RPPXQLFDWLRQEHWZHHQWKH0DQDJHPHQW&RQVROHDQGWKH )LUHZDOO0RGXOHV • 7KH)LUHZDOO0RGXOHREMHFWPXVWEHGHILQHGDVDQ,QWHUQDOREMHFWLQRUGHUIRU UHPRWHPDQDJHPHQWWRZRUN • IZGRQWKH0DQDJHPHQW&RQVROHLQLWLDWHVDFRQQHFWLRQWRIZGRQWKHILUHZDOO DQGVHQGVWKHHQFU\SWHGSXWNH\SDVVZRUGDVFRPSLODWLRQRIWKH6HFXULW\ 3ROLF\LVILQLVKHG$IWHUYDOLGDWLQJWKH0DQDJHPHQW&RQVROHV,3DGGUHVVLQWKH ):',5FRQIPDVWHUVILOHIZGDXWKHQWLFDWHVWKHSXWNH\SDVVZRUGDQG DFFHSWVWKHFRPSLOHGLQWHUQDOXVHUGDWDEDVHVDQGVHFXULW\SROLF\DQGLQVWDOOVLW LQWKH,QVSHFWLRQ(QJLQH • $QDXWKHQWLFDWLRQNH\QHHGVWREHFUHDWHGRQWKH0DQDJHPHQW&RQVROHIRU HDFK)LUHZDOO0RGXOHWKDWWKLV0DQDJHPHQW&RQVROHZLOOUHPRWHO\EHLQFKDUJH RI o 1RQ8QL[SXWNH\FRPPDQGV\QWD[IZSXWNH\SSDVVZRUGILUHZDOO PRGXOHLSDGGUHVV o 8QL[SXWNH\FRPPDQGV\QWD[IZSXWNH\SDEFQ  %UDLQ%X]]&UDPVHVVLRQ&KHFN3RLQW&HUWLILHG6HFXULW\(QJLQHHU;  5HPRYLQJ5HPRWH0DQDJHPHQW • %RXQFLQJWKH)LUHZDOOLVWKHSURFHVVRIVWRSSLQJDQGUHVWDUWLQJWKHILUHZDOO GDHPRQIZG7KLVFDXVHVIZGWRUHUHDGWKHORFDOPDVWHUVILOHDQGDOORZWKH 0DQDJHPHQW&RQVROHWRUHPRWHO\LQVWDOOVHFXULW\SROLFLHV • 7RUHPRYHUHPRWHPDQDJHPHQW\RXUHPRYHWKHPDVWHUVILOHLQWKH ):',5FRQIGLUHFWRU\IURPWKH)LUHZDOO0RGXOH%RXQFHWKHILUHZDOODQGWKHQ ORJLQWRWKHVHFXULW\SROLF\&KDQJHWKHORFDWLRQRIWKH)LUHZDOO0RGXOHWR H[WHUQDODQGLQVWDOOWKHSROLF\DJDLQ  3ODFHPHQWRI63))LOH • 5XOHVWKDWPDNHXSD6HFXULW\3ROLF\)LOH63)IRUDVLQJOH)LUHZDOO0RGXOH FDQEHNHSWLQDQLQGLYLGXDO63)RQWKH0DQDJHPHQW&RQVROHRUFRPELQHG ZLWKUXOHVRIRWKHU)LUHZDOO0RGXOHVLQWRDFRPELQHG63)7RDYRLGFRQIXVLRQ QDPHWKH63)WRLQGLFDWHLWLQFOXGHVWKHFRPELQHGUXOHVRIPXOWLSOH)LUHZDOO 0RGXOHV$OVRLQWKH,QVWDOO2QFROXPQRIHDFKUXOHVSHFLI\WKHSDUWLFXODU WDUJHWVRIWKH)LUHZDOO0RGXOHVREMHFWVFOHDUO\ • )RU'XDO0DQDJHPHQW&RQVROHFRQILJXUDWLRQ63)VVKRXOGEHPDLQWDLQHGRQ WKH3ULPDU\0DQDJHPHQW&RQVROH30&:KHQDFKDQJHLVPDGHWRDQ63) WKDW63)DQGFHUWDLQUHODWHGILUHZDOOGDWDEDVHVQHHGWREHFRSLHGWRWKH 6HFRQGDU\0DQDJHPHQW&RQVROH60&PDQXDOO\E\WKH):$GPLQLVWUDWRU (DFK)LUHZDOO0RGXOHVKRXOGLQFOXGHWKH,3DGGUHVVRIERWKWKH30&DQG60& LQWKHLUORFDOPDVWHU¶VILOH • )LUHZDOO0RGXOHZLOOVHQGHDFKORJHQWU\WRERWK0&V$OOORJVIURPDOOUHPRWH )LUHZDOO0RGXOHVZLOOEHGLVSOD\HGRQERWK0&VLQWKHRUGHUWKH\ZHUH UHFHLYHG7RGLVSOD\VSHFLILFHQWULHVXVHWKH6HOHFWLRQ&ULWHULD0DQDJHU  5RXWHU6HFXULW\0DQDJHPHQW • 7KHUHDUHVHYHQPDLQVWHSVLQFRQILJXULQJURXWHUVHFXULW\IRUDVSHFLILFURXWHU  &RQILJXUHURXWHULQWHUIDFHVRQWKHURXWHUYLDWKHFRQVROHFDEOH IROORZLQJWKHVWHSVVSHFLILHGE\WKHURXWHUPDQXIDFWXUHU  &RQILJXUH6103RQWKHURXWHU   )LUH:DOOFDQJHWDQGVHW6103LQIRUPDWLRQIURPWRWKHURXWHU  6103UHDGDQGZULWHFRPPXQLW\VWULQJVQHHGWREHFRQILJXUHGLQWRWKHURXWHU PDQXDOO\VRWKDW6103LQIRUPDWLRQFDQEHUHDGIURPDQGZULWWHQWRWKH URXWHUE\DOOZKRNQRZWKHUHDGZULWHFRPPXQLW\VWULQJ   &RQILJXUHWKHHQDEOHSDVVZRUGRQWKHURXWHU    2QD&LVFRURXWHUWKHUHDUHWZRSDVVZRUGVWKHORJLQSDVVZRUGDQGWKH HQDEOHSDVVZRUG  *RLQWRWKHJOREDOFRQILJXUDWLRQPRGHDQGXVHWKHHQDSDVVZRUGFRPPDQG %UDLQ%X]]&UDPVHVVLRQ&KHFN3RLQW&HUWLILHG6HFXULW\(QJLQHHU;   'HILQHWKH$FFHVV/LVWVSURSHUWLHVLQWKH6HFXULW\3ROLF\3URSHUWLHV ZLQGRZ  $YDLODEOHSURSHUWLHVIRUFRQWUROOLQJWKHURXWHU • (QDEOH(VWDEOLVKHG7&3&RQQHFWLRQV$FFHSWVSDFNHWVRIHVWDEOLVKHG7&3 FRQQHFWLRQV • (QDEOH5,3$FFHSW5RXWLQJ,QIRUPDWLRQ3URWRFRO • (QDEOH'RPDLQ1DPH4XHULHV8'3$FFHSW'RPDLQ1DPH4XHULHVXVHGE\ QDPHG • (QDEOH'RPDLQ1DPH'RZQORDG7&3$OORZXSORDGLQJRIGRPDLQQDPH UHVROYLQJWDEOHV • (QDEOH,&03$FFHSW,QWHUQHW&RQWURO0HVVDJHV3LQJV  'HILQHWKHURXWHUREMHFWLQWKH1HWZRUN2EMHFWV0DQDJHU  $GGVHFXULW\UXOHVIRUWKHURXWHULQWKH6HFXULW\3ROLF\(GLWRU  ,QVWDOOWKHVHFXULW\SROLF\RQWKHURXWHU  (QFU\SWLRQ7HFKQRORJ\ • )LUH:DOOHQFU\SWVSDFNHWVWUDYHOLQJEHWZHHQWZRJDWHZD\VRQWKH,QWHUQHW XVLQJWKHIROORZLQJHQFU\SWLRQWHFKQRORJLHV  $V\PPHWULFHQFU\SWLRQ • VHFXUHNH\H[FKDQJHPHFKDQLVPV$XWKHQWLFDWLRQDQG'DWDLQWHJULW\FKHFNLQJ • HDFKQRGHXVHVWZRPDWKHPDWLFDOO\UHODWHGNH\VRQHSXEOLFRQHSULYDWH • SULYDWHNH\QRWGHULYDEOHIURPWKHSXEOLFNH\ • SXEOLFNH\FDQEHIUHHO\GLVWULEXWHG • RQO\WKHKROGHURIWKHSULYDWHNH\FDQGHFU\SWWKHPHVVDJHHQFU\SWHGE\WKH FRUUHVSRQGLQJSXEOLFNH\  6\PPHWULFHQFU\SWLRQ'(6'(6):=5&5& • XVHGWRHQFU\SWGDWDDWDKLJKHUSHUIRUPDQFH • VDPHNH\XVHGWRHQFU\SWFOHDUWH[WLVXVHGWRGHFU\SWFLSKHUWH[W • XVHVV\PPHWULFNH\VGHULYHGIURPDV\PPHWULFNH\H[FKDQJHYLD'LIILH +HOOPDQNH\H[FKDQJHSURWRFRO • SULYDF\RIWKHPHVVDJHEDVHGRQSURWHFWLRQRIWKLVRQHNH\ • SULYDF\LVHQVXUHGEHFDXVHRIWKHVHFXUHQDWXUHRIWKH'LIILH+HOOPDQNH\ H[FKDQJHSURWRFROV  %UDLQ%X]]&UDPVHVVLRQ&KHFN3RLQW&HUWLILHG6HFXULW\(QJLQHHU;  .H\VVKRXOGEHFKDQJHGSHULRGLFDOO\DVFUDFNLQJWKHNH\LVSRVVLEOH7KLVGHSHQGVRQ WKHDPRXQWRIHQFU\SWHGGDWD  'LIIHUHQW7HUPV &HUWLILFDWH$XWKRULW\3XEOLF3ULYDWH.H\ • $V\PPHWULFNH\SURYLGLQJGLJLWDOO\VLJQHGDXWKHQWLFLW\WRSURYHWKDWDKRVWV 3XEOLF.H\LVYDOLG 'LIILH+HOOPDQ3XEOLF3ULYDWH.H\ • $V\PPHWULFNH\H[FKDQJHV\VWHPXVHGWRFUHDWHDVKDUHGVHFUHWNH\RQHDFK 931QRGH %DVLF6HVVLRQ.H\ • 6KDUHGVHFUHWNH\SURGXFHGE\WKH'LIILH+HOOPDQNH\H[FKDQJHSURFHVV 6HVVLRQ.H\ • 6\PPHWULFNH\IRUGHULYLQJ3DFNHW'DWD,QWHJULW\NH\V 'DWD,QWHJULW\.H\ • $V\PPHWULFNH\V\VWHPIRUSURYLGLQJGDWDLQWHJULW\ 3DFNHW.H\ • 6\PPHWULFNH\IRUHQFU\SWLQJGHFU\SWLQJDSDFNHW &HUWLILFDWH$XWKRULW\&$ • 7UXVWHGWKLUGSDUW\IURPZKRPVRPHRQHVSXEOLFNH\FDQEHUHOLDEO\REWDLQHG WKURXJKHLWKHUVHFXUHRULQVHFXUHFKDQQHO,WFHUWLILHVDSXEOLFNH\E\ JHQHUDWLQJDFHUWLILFDWHGLJLWDOVLJQDWXUHIRUWKHNH\  'LJLWDOVLJQDWXUH • 3URRIRIWKHVHQGHUVLGHQWLW\DQGWKHPHVVDJHVLQWHJULW\ • &UHDWHGXVLQJDSXEOLFHQFU\SWLRQNH\V\VWHP  2QH:D\+DVK)XQFWLRQVELW0'DQG0'ELW6+$ • )RUFUHDWLQJ'LJLWDO6LJQDWXUH • 5HFHLYHVDYDULDEOHOHQJWKPHVVDJHDVLQSXWDQGJHQHUDWHVDIL[HGVL]H PHVVDJHGLJHVWRUKDVK2QFHFRPELQHGZLWKWKHVHQGHUVSULYDWHNH\WKH PHVVDJHGLJHVWEHFRPHVWKHGLJLWDOVLJQDWXUH %UDLQ%X]]&UDPVHVVLRQ&KHFN3RLQW&HUWLILHG6HFXULW\(QJLQHHU;  • 7RSURYLGHVFHUWLILFDWLRQRIWKHVHQGHUVLGHQWLW\WKHVHQGHUVLJQVWKH PHVVDJHZLWKKLVSULYDWHNH\DQGWKHUHFLSLHQWYHULILHVWKHVLJQDWXUHZLWKWKH VHQGHUVSXEOLFNH\ • 8SWRWLPHVVORZHUWKDQV\PPHWULFFU\SWRJUDSK\VRRQO\XVHGIRUVPDOO DPRXQWRIGDWDVXFKDVIRUVKDUHGNH\V  .H\0DQDJHPHQW6FKHPHV 0DQXDO,36HF • )XOO\PDQXDONH\PDQDJHPHQWIRU,36HF ):= • &KHFN3RLQWVSURSULHWDU\NH\PDQDJHPHQWVFKHPH • 3URYLGHVDXWRPDWHGXSGDWHVRI3XEOLF.H\V • (QFU\SWVDOOGDWDEHKLQGWKH,3DQGWUDQVSRUW8'37&3KHDGHU • 8VHV5HOLDEOH'DWD3URWRFRO5'3WRPDQDJH931VHVVLRQNH\VHQFU\SWLRQ PHWKRGVDQGGDWDLQWHJULW\ • )LUHZDOOVXVH5HOLDEOH'DWDJUDP3URWRFRO5'3IRUDQRXWRIEDQGVHVVLRQWR QHJRWLDWHVHVVLRQNH\WRDJUHHRQHQFU\SWLRQPHWKRGDQGWRGHFLGHZKHWKHU 0'GDWDLQWHJULW\ZLOOEHXVHGIRUWKDWVHVVLRQ,QDGGLWLRQ5'3VXSSRUWVDQ DXWRPDWHGDQGVHFXUHZD\RIV\QFKURQL]LQJSXEOLFNH\VWKDWDUHQRWXSWR GDWH • 8VHVLQSODFHHQFU\SWLRQZKLFKKDVLWVGDWDLQWHJULW\ELWVLQVHUWHGLQWRKHDGHU ILHOGV • 3DFNHWVL]HLVIL[HG • 6XSSRUWV):=ELWZKLFKLVH[SRUWDEOHRXWVLGHWKH86  ,36HF • 6WDQGDUGVGHVFULELQJWKHJHQHUDOIUDPHZRUNIRUHQFU\SWLRQDQGDXWKHQWLFDWLRQ RI,3SDFNHWV • (PSOR\'(6DQG7ULSOH'(6IRUHQFU\SWLRQDQG0'DQG6+$IRU DXWKHQWLFDWLRQ • &DQEHXVHGPDQXDOO\0DQXDO,36HFRUZLWKDXWRPDWHGNH\PDQDJHPHQW VFKHPHVVXFKDV,6$.03DQG6.,3 • ,36HFZLWK,6$.03LVPDQGDWRU\IRU,3YHUVLRQ • 8VHV6HFXULW\$VVRFLDWLRQ6$WRGHILQHWKHVHFXULW\SDUDPHWHUVIRUDVSHFLILF ,3KRVWLQFOXGLQJXVDJHRI(QFU\SWLRQDQGRU'DWD,QWHJULW\(QFU\SWLRQ DQGRU'DWD,QWHJULW\PHWKRGVDQGNH\V6$LWVHOILVLGHQWLILHGXVLQJDELW 6HFXULW\3DUDPHWHUV,QGH[63,WKDWUHIHUVWRDVSHFLILF6$YDOXHIRU931 SDUWQHUV7KHUHDUHWZRKHDGHUVIRULGHQWLI\LQJWKHUHOHYDQW6$ $XWKHQWLFDWLRQ+HDGHU$+FRQWDLQLQJWKHPHVVDJHGLJHVWDQG (QFDSVXODWLQJ6HFXULW\3D\ORDG(63FRQWDLQLQJDSHUSDFNHW,QLWLDOL]DWLRQ 9HFWRU,9IRUHQKDQFLQJVHFXULW\ %UDLQ%X]]&UDPVHVVLRQ&KHFN3RLQW&HUWLILHG6HFXULW\(QJLQHHU;  • 63,VKRXOGEHFRQYH\HGWRWKHRWKHUSDUW\XVLQJDQH[WHUQDOVHFXUHFKDQQHO  6.,3 • 6XQV,3OD\HUNH\PDQDJHPHQWVFKHPHIRU,36HF • (QFDSVXODWHVWKHRULJLQDOSDFNHWZLWKD6.,3KHDGHUDQG,36HFKHDGHUV • 'LIILH+HOOPDQNH\SDLUIRUHDFKSDUWLFLSDWLQJQRGH • 8VHVRQHIL[HG63,[  6HFX5HPRWH&OLHQW(QFU\SWLRQ • (QDEOHVPRELOHXVHUVWRFRPPXQLFDWH • $OORZV93/V9LUWXDO3ULYDWH/$1RYHUDVLQJOHSK\VLFDO/$1  6WHSVWRVHWXS931 (VWDEOLVKLQJD):=931EHWZHHQWZR):JDWHZD\V  'HILQHHDFKJDWHZD\VHQFU\SWLRQGRPDLQ 6SHFLI\):=DVWKHHQFU\SWLRQPHWKRG 6HWXSWKH):=SXEOLFNH\VRQERWKVLGHV ,QVWDOO6HFXULW\3ROLF\ ([FKDQJHSXEOLFNH\VEHWZHHQWKHJDWHZD\V $GG931UXOHWRUXOHEDVH 'HILQH):=HQFU\SWLRQSURSHUWLHVIRU931UXOH 9HULI\DQGLQVWDOOWKHUXOHEDVH  (VWDEOLVKLQJD0DQXDO,36HF931EHWZHHQWZR):JDWHZD\V  6SHFLI\HDFKJDWHZD\VHQFU\SWLRQGRPDLQ 6SHFLI\0DQXDO,36HFDVWKHHQFU\SWLRQPHWKRG &UHDWHWKH,36HF63,VRQHDFKJDWHZD\ $GG931UXOHDQGWKHQ,36(&UXOHWRUXOHEDVH 'HILQH,36(&HQFU\SWLRQSURSHUWLHVIRU931UXOH 9HULI\DQGLQVWDOO6HFXULW\3ROLF\  (VWDEOLVKLQJD6.,3931EHWZHHQWZR)LUH:DOOJDWHZD\V  6SHFLI\HDFKJDWHZD\VHQFU\SWLRQGRPDLQ 6SHFLI\6.,3DVWKHHQFU\SWLRQPHWKRG 6HWXSWKH6.,3SXEOLFNH\VRQERWKVLGHV %UDLQ%X]]&UDPVHVVLRQ&KHFN3RLQW&HUWLILHG6HFXULW\(QJLQHHU;  ([FKDQJH'+SXEOLFNH\VEHWZHHQWKHJDWHZD\V $GG931UXOHDQGWKHQWKH6.,3UXOHWRUXOHEDVH 'HILQH6.,3HQFU\SWLRQSURSHUWLHVIRU931UXOH 9HULI\DQGLQVWDOO6HFXULW\3ROLF\   /RDG%DODQFLQJ • )RU+773ZKHQ)LUH:DOOGHWHFWVDVHUYLFHUHTXHVWWRD/RJLFDO6HUYHUDQG GHWHUPLQHVWKDWWKHVHVVLRQLVWREHUHGLUHFWHGWRDFKRVHQVHUYHULWUHGLUHFWV WKHFRQQHFWLRQWRWKH/RDG%DODQFLQJGDHPRQOKWWSGDQGQRWLILHVWKH+773 FOLHQWWKDWWKH85/LVEHLQJUHGLUHFWHG • )RU1RQ+773)LUH:DOOXVHVWKH$GGUHVV7UDQVODWLRQPHFKDQLVPE\ PRGLI\LQJWKHGHVWLQDWLRQ,3DGGUHVVRIWKHLQFRPLQJRXWJRLQJSDFNHWDQGWKH VRXUFH,3DGGUHVVRIUHSO\SDFNHWVIRUWKHVHVVLRQ  %DODQFLQJ$OJRULWKPV 6HUYHU/RDG • )LUH:DOOFRQQHFWVWRDQDJHQWZKLFKVLWVRQHDFKVHUYHUDQGTXHULHVWKH FXUUHQWORDGRIHDFKVHUYHU7KHORZHVWORDGHGVHUYHULVVHOHFWHG • 'HIDXOWDJHQWLVSURYLGHG • &XVWRPHUFDQEXLOGWKHLURZQDJHQW  5RXQG7ULS • 6HUYHUZLWKWKHIDVWHVWURXQGWULSWLPHEHWZHHQLWDQGWKH)LUHZDOO0RGXOHLV VHOHFWHG 5RXQG5RELQ • 6HUYHUWDNHVWXUQDVWKHQH[WVHUYHULVVHOHFWHGIURPWKHOLVW 5DQGRP • 6HUYHULVVHOHFWHGSXUHO\E\UDQGRPPHDQV 'RPDLQ • '16QDPHRIWKHFOLHQWLVFRPSDUHGZLWKWKH'16QDPHVRIWKHVHUYHUVDQG WKHRQHZLWKWKHEHVWPDWFKZLOOEHVHOHFWHG /RJLFDOVHUYHULVGHILQHGE\FUHDWLQJDJURXSREMHFWFRQVLVWLQJRIDOOWKHVHUYHUV WKDWZLOOEHSURYLGLQJWKHJLYHQVHUYLFH$QHWZRUNREMHFWRIW\SH/RJLFDO6HUYHU VKRXOGWKHQEHFUHDWHGZLWKFRUUHVSRQGLQJUXOHVIROORZHGLQWKHUXOHEDVH 