Download as pdf or txt
Download as pdf or txt
You are on page 1of 333

@ @

@ @a@a@a
@ @dna@


....



.


.

...

]< <
:
:
:
:
:

:
:

:

:
:

):(Risk Concept


.


.

.


.




.
Peresonal and Genral Expection

Scientific Guess
.

)(


.
:
.

.

.

7


.
.

):(Nature of Risks



Noneconomic Risks

.Econimic Risks

Financial Loss


9



10

):(Nature of Economic Risks


.
( :

Speculative Risks


)) (( )) ((.


) (

) (

) (.
11

( :
Pure Economic Risks


.
- :

) Static Risks
(Dynamic Risks


12


Objective Doubt
subjective doubt


.

:
.

:
.

:
.

:



13

:
.

):(Hazards

.
:




)(
.

14

.
:

- ):(Physical Hazards



.
- :





15



:
- ):(Morale Hazards


.


.

16

( ):(Moral Hazard



.
:

:

.

17

:

.

:
. :
.

. :
.
. :
.

):(Nature of Hazards

:
-





. Perasonal Hazards

-

18


) Property
.(and Liability Hazards

-

.


.
19

):(Perils

:
.

):(Loss



20


.
:

:
.

):(Personal Perils

PERSONAL Perils

Sickness

Disability

Death

Superannlation or Old Age


Unesmplovment

21

):(Preprety and Liability Perils



:

Property and Liability Perils

Lightning

Windstorm

Fire

Water
Earthquakes
Glass Breakage
Explosion
Dishonesty
Strikes

Riot and Civil Commotion

Vandalism and Malieions Miachief

Burglary Theft and Robbery

Fraud

Collision

Hail

.
.

Failure of Contractors
Transportation of Goods on laad Sea and Air

Atomic energy Operation

Monetary Laflation

Liability
22

Toward Strangers

Toward Properties

Toward Employees

) (

23

)(Measurements of Risk


)(
.

):(Degree of Risk

24

Utils






25


.
:
))



((.

) : (Costs of Unexpected

): :(Costs of Uncertainty
26



.
):(Probability of Loss


.

)(



.
:

:



.

27



Expected Probability
Realized Probaility



Law of Large Numbers
Poisson ) (
.

28


.

%


29




%
%



%
.%

-


.

-


30

.
-


.

-



.
-



.

31



Irrarional Specutative
.

):(Expected Loss




.
Amount at Stake or Risk



32

33

- = ,
- % =,
- % = ,
- % =,
- % =,

- % = ,



.

):(Expectatiol of Loss



34

Amount at Stake

x
= x
:
= x

35


:
= ) (x
.
=,x,



: = xx.

36

%

:
=x,x, %.
=,=,x,x,.

: ):(Risk Severity
:

,



.

37

- .
-
- .


) (
) (


==++++

= =
=.=

38

:
x=x++x+

=

:
( .
( .
( .

( .
( .

:


:
39

( = =
( = -

( =)) (-(()
( x =
)+x(- = x()+x
( = =

= .


Ceofficient of Variation


:

( =
= =

40

= =

.

= =
:
= =

: :


.
)(

)(
)( :
41

-) x(

) -( -) (


= .

:
=

= = -

() x ()x

= x x
:
=x

= x ) x(

:
=
= x ) x( x
=)(

:
= x x x
=
42

)(



.

)(

)( .

43

)(Risk Management

44

Risk Control


.


.




) .(Risk Manager


45









.
:
-

.
-
.
-

-
.

)(Policies of Management


46



Risk Avoidance

:
.

47



.
(
Unplanned Risk Assumption

48


.
49

Planned Risk Assamprtion




:

- Contingency Reserve



.
50

.
(

Loss

Prevetion and Control




.

51



.
-


.
-

Sprinkles




.
52







.


.



53

54


.
:

. ):(Construction Gontracts



55

Transferor Gost of Risk

Transferee



Transferor Goat of Risk

Transferee



56

. ):(Leases


.

Lessee
Lessor





57



.

. ):(Cariers Contracts





Carrier



58

. ):(Bailment Contracts


Bailor
Baielee



59

. ):(Forming Organizaytions



60

):(Risk Reduction





.Accurate Prediction


Risk Aversion

.


) ( .






61








) ( =

x x
, = , x x
=

= ,

( ):(Segregation & Diversification





62



.


)(

63

( ):(Pooling of Risks
Risk Exposures



Averages

.

General Average

64





.
( ):(Insuring of Risk



65



66

):(Quantiattive Opprooches

Game Theory Programming Linear

Programming Queving Theory


Models Mathematical
67

Statsitical

Decision Theory

- :
-
- )(
-

. .

.
.
. .

) (:



:
68

:

,
) ( ,
.





69

) (:


:

:




.

:



.

:

70


, ,
:
-

= x , x x ,
= = +

-
x , + x ,
= +

x , + x ,
= +

.

:


71

) (:

72

73


)(Insurance

74


.


) (

:
-
-
-
-

-
-
-
75

-
-
-
-
-

)
(


Insurance Retetion .

):(Insurance Defined

) (:
) ( )

(
76

) (

) (:



) (


) (
77


) (



) (


Kulp


.
Dandel

.
.
.
.

. .
. .
78

. .

.
) (
) (.

)( )

(


.

:
( Social Device


) (.
(

.
(
.
(
.

79

) (
Perils .

: Uncertainty






)(

.


80


.

)(

) (

.

)(

:

):(Risk Transfer Assumption ) (



81



) (

) (:

) (
.



.


) ( )
82

Loss Expected

Objective


)( .Subjective

)( )(
)(
)(
) (x
),( ) (

83

(.

):(Prediction

)(

.



)

Low of Iarge

Number
)
(.

):(Pooling


:
84

:

)(

.

)(
)(
)
( )( )(

)(





85

Tidal Waves

.
):(Discrimination




Homogenous

Discrimination Classify

)(
.



)( ) (
.

)(


)(

)(


86

Adverse

Selection


:
)
( )(

- :


Mass Similarity
87


.
,


.

%


) (
) (

88

) (,x= = =

, x , x x , x , x


, ,

)(



.
- :


) (

- :



89

:

.

:



.

- :




(
)


90

- :

91

-
:


:
-
-

-
-
92

( :
Personal Insurance

Commercial

Insurance


) (

( :


.


93

( )(:

)

( :
)(

:
94

)(Life Assurance

)(Marine Insurance

. )(Fire Insurance
. )(Accident Insurance
:
( )(Life Insurance

( )(Property Insurance
.

- .

- .
- .
- .
- .

- .


:

.

95

.



96




.
.



.
.

97

:
- :

Insurer

Insured

.

Beneficiary

98

Life Insured



.
- :

- :



.
- :



99


)( )(

.


100

) (
) (

.
:

)(
Ceding Insurer
Reinsures



.

Risk Transfer Risk Distribution
Coverage .Insurance Risk
:

:
-

)(Treaty Reinsurance

- )(Facilitate Reinsurance
- .



101



) (

Reinsurance

Proportional )(%
)(%

) (%




102

Non

Proportional Reinsurance

Excess Loss Reinsurancees



)(

)(
) (
)( )(

)( .


.
:

) (.


.
103


.




.


Self Incurance




.
104

):(Legal Principals of Insurance



:
- .
- .
- .
- .

- .
- .

) :(Principal of Utmost Goodfaith



.
105

- :


)( )(
)(


.

- :

106

- :

- :




.
- :

.
) :(Principal of Insurable

107

:
. :



.
. :


108



.
) (:



.
.



109



.
x

)(

)(
)(

= = x

= =

110

) (:





-

.
-


.
-



.
-
.


-

111

) :(Principal of Contribution






-
.
-
.

- .
- .


112

) (

):(

: )(
)( )(
)(
.

:
)(

)( x
)(

)(

113

):(

:

.
:

= x
= x
114

= x


= + +

=

= x

:
= x

= x
= x


= + +

115

=
=
=

) (:




116

117



:



.

)(Assurer )(Assured ) Sum.(Assured

).(Beneficiary
)(Life Assured
118

- :
.

- :
.

- :
.


- :

.

.


)(
.
:

: .

: .

: .

:
: .
( :
119

- :
:

)(Whole Life Assurance



.

)(Term or Temporary

)Deferred Whole Life Assurance




)( )(
) (
.

)(Deferrd Temporary Insurance



)( )(
) () (

.
120

:

:

- ):(Pure Endowment Insurance



:
-
.

-
.

- ):(Life Annuities

:


. )(
)( .

. )(
.

. ) (
.

.
)(
.
) Whole.(Life Anniuty

121

- ) .(Temporary Annuity

) Deferred Whole.(Life Annuity


) Deferred Temporary.(Annuity

: :

:

- ):(Endowment Assurance



)( )(
)( )(
)( .
-

) Double Endowment

:(Assurance


)(
)(
) ( )(.

.
122

)( )(
.

)( )(
)(.

- :

:
.
.

.

.
.

123


.

.
:

- .

- .
- .
- .
- .

- :

:
-
.

- )(

Installments Policies )(
)(
)( )(
)(.

124


) (%

.Debenture Policies

)( )(
) (% )(
)(
)( )(
)( .

- :


:
- .
- .
:

-

.
125

-
) (

.
-
.
- )

Joint Life

(Assurance

) (Last Survivor Assnrauce ) (Contingent Assurance


-
.
-
.

-
.
- )

Joitn Life

(Annuity
- ) (Last Survivor Annity

) .(Annnuity

126

Reversionary

- :



.



.



) (% .


.
:
- .With Profit

- .Without Profit


:
) ( .

) ( .

) ( .
) ( .
127


.
= x x x


.


.



.

- :
:
- .

- .
- .
- .
128

( :

:

. )(Hull Insurance

.

. )(Builders Risk Policiec

. .
. )(Freight Ins
. )(Cargo Insurance


.
:

) : (

) : (

129

:
- .

- .



130

.




.


:
-
.

-



.

-
.
-


)(

)( )(
131

.
-



:

+ +
+ +
.

)(


.

132

-
.

)
(.

( :

:
. ).(Vovage Policies

. ).(Time Policies


133

Warehouse to Warehouse


.
:




.

.

% .
:

134

( :
:
. ).(Valued Policies
. ).(Uvalued Policies

) ( ) (


.


.

.


135


) (

.
:



.
) (

-

.
-

.
-


.

-
.
136

( :


:
- ).(Actual Total Loss

- ).(Constructive Total Loss



.
:
. ).(Particular Average

. ).(Generail Average

137

:

.


.
:



.

.

:

.

138

:
- ).(T.L.O
- ).(F.A.A

- ).(F.P.A
- ).(W.P.A

):(T.L.O




).(F.A.A

139

):(F.A.A
)(F.A.A
Free of all Average


.

)(F.P.A
) (F.P.A Free
of Particular average



) (F.P.A


).(F.P.A

) (F.F.A



.
):(W.P.A

W.P.A

.With Particular Average

140




%
).(%
-
:
(

( :


:
-
.

-
.
- Rent Insurance

.


.
141


)(
)(.


.

- Loss of Profits
Insurance

142

Commission Insurance

.

.

)( .

-


.

143

( :

:
- .
- .
- .

- :
:
-.
-
-

- :
.

:
. .


.

.
144

. .

.

.
. :


:
:

-
.
-.
- .

- ) (%

.
-
.

-.

145

- .

:
:

- ) (.

- ) (
.
- .
- ) (.

-
.
- .
- ) (% .
- .

- .

-

.
-
.
)(


) (% )(.
146

( :

:
(

).(Valued Policies

).(Unvalued Policies

.
147

( :
:
- ) (

148

)( )(
)(.

- ) (
.
:
. .

. .
. .
. .
. .




) (% ) (%



149


) (% ) (%, .
-
.



) (%
.
:
:
- ).(Personal Accidents Only

- ( Personal Accident
& Specified Diseases).
(Personal
-
Accidence and All Sickness).

150

:
- .

-

.
-
) (.

-
.

)(.
151

.
)(
-

.

-

.
) (
)( .

-

.


.
) (Stone & Cox Year Book
152

:




.

.


.


) (


.

:
:
-




153

-
.
-


:
.

.
.
.


.
154

:
:

: .
:

:
- .

- .
- .

:
.
.

. .
. .
. .
) (
) (

:
:
155

- .

-
.
- .
- .
-
:

) (:
(



:
- .

-
.
-

.




156

))((
.
(
(

) (:

:
(


.
(


.
157

(
) (

.

) (

) (:
( )(

:

-
.
-
.
-
.

158

) (
( -

) (%
) (% .
-


) (%
) (% .

) ) ((
.


.




) (


159




.

.

160

:


:
- .
- .
- .

:


.
)(,


.

.

161

)( )(

)(

)(

.



.
:

)( )(
) (.

162

.
- .
- .
.
-

-
.
) (
:
) ( )(.

)( )(.
)( ) (.


(
)

.

163

:
) (
.

) (

) (

.
:
-
.
-
....

- .
-
.
:
. ) ( .

.
.

164

.
.

. .

165

166


: :


) + (


:
(
( .

:
167

. :



:
=

. :




.
.

168

. )(:


.
:

- .

- ) (
.

)(




:
= ) (.

= x



.
169

:

)( )(
)(.

= x ) (

.
:

:
= .


.
170


) (,


) (,
) ( ) ( ).(%

) (,

.

) (, =
) (
)( ) (%, )(,
) (.

) (,
) (, ) (,
) (, ) (,
) (,


) (,
171

) (, ) (,

) (,
)( )(
) (, ) (, :
= + , + + , + , ,
.
:

) -( ) (
) -( .
) - ( )(
) - ( )(.
) - (
) (, )(.

) (=

) (,) = (,

) (, ) (, =
,
:

+ , + + , =

) ( = + ,+ + ,
= , + , + , + ,,

= , = , + , + , + ,
= + , + + , ,

172

= , = , + + , + ,

........

) (, = ) (,
) (% )(%
.
- =
.


) (,
) (, -,
, = (, + ,) =
.,

= , ,

= ) (
= ) (

=
.
= ) ( =
) (,-
)(
) (.

) ( =

173

- =
) (, )( :
= + , + + ,
: = + , + + , + ,

.
:

174



.
)(

:
-


)(.

175


)(.
:
= .
= .

= .

= .


)(.

+
:

=

:

. =
.
=
.
)(.

. )(.
176

- = .
- )
+(.

)( )( :
=

) = (.

) : (

) = (
:
=
:

)( = )( )(

)( =

)(

=..
177

)(

.
:
=

= :
=

) (


)(

) ) -((

=
= . . . .

= . . . ) (

:
) (

) ( :
178

- ) (

- )( =

- )( )(

:
: .
:
:

=
=

:
=..
=

=
=
:

) (


:
( ).(%
( =
179

( )(

) (

: .
:
:
:

=...

=
: ) (
) (

.
=
=

= = ) -(
= -)

= =

180

) : (


.
) (
) ( ) (



.

) -(

.
:
- ) (
- =

=

- =

)( )( =
) ( )(
)( :

= )( )

( =
)(
181

-
= ) (.


)( = ) (.
)(
)(
)( = )

( )( = ) ( ).(
= )() + (
)( = ) + ) ( (
) ( = ) ) + (

= )

)(
)(


=
:

)(
) (
) ( :
%


. )(
182

: .
: .
:

- =
= )- ) + ( (
=

=
= ( ( ) + )
= ( + )
=
=
-

):(

183

: .
: .
:
- = . .
=
=
- =
=
=
=
=


.
:

-

) ( ) (
) (
184

) ( ) ( )(
) ( .

) (

) (.
-
.

:
: .
:
.

) : (


.


) (

:
= ) ) ( (

% = %. = = =
= ) ( - ) ( -
=
185

) (

=
= =

) : (

)(
:



=..
= . . .
)(
:
= . . .

= . . . .
186

:
) . . .( ) . . . (
) . .( ) (

)( :
)( = =

)(
)( =
.


.


) : (:
:

- :

187

- :



) (


) (% ) (%
).(%

- :

.

- :

:




) (%

188

)( )(

)(.

: ) (%,

) (% .
:

.
:

)( ) ( ) (%,

= +

%,

= % = %,


) (%
) (% .
)( :
189

= + %

% = % +
= % %
= %


:
:


) (% ) (%
) (.
:

) ( = % .
= %
= % .
%

)% (

= % %
%
= %

190

= % .

) (

=
=

:
- .
- :
. .

.
.
.
.
-

) ( )( .

) : (
:
- .

-
.

191

.
- .

:
- ) (%
.
- ) (%
.

- .
- ) (
:

:
) (

)(

)(
:

= %
= %
192

=


.
) (:

:
( )
( ) ( .

(
) ( :
) (% . - ) (% .

) (% .
.
( ) (.
(

)
(.
193

:
)(

.

:
.

: ) (

.

.


.
:
) (
) ( ) ) ((
:

.

194

. =

=

.
= =

. ) (

% =




.
195

:
:

- :



) ( )(
.....

- :
.
) ( :
: .

: .
: ) (.
: .

:
)(
) ( ) ( .
=

:

) ( )(
196

: )( )-
(.

: .
:

=

: =

) (

)(

: )( )(
) ( .

: ) ( ) (

: ) ( )-(

: ) ( ) (
) ( ) (.

: )( )(

197

: )(
:
) ( ) (
= ) ( ) (



) (% ) (-

.

: )(
)(
:
=

) (

) (

)(
:

- = ) -(

= + ) (

198


=
+ )
(.

) ( ) ( .
:

= ) ( ) (
) ( ) -(

= -

=
= -
=
= -
=

= ) ( -
)( : =

= - ) (
) (

= -

= -
199

= -

= ) ( -

)( )(
.

200

@ @bra@a

201

202



:
=

=


.



= .

=

= .
+ =
=
+

203


=
=

=


)(
)(
+=

204

- =
- =
-

- + =

+
=

= +
+

205

- ) (

.

.
=
=

= - = - + =

: :
= = )) ( - ( +

):(

) ( -

) (

== =


.
):(

206

= = =

: )(
)(
) (

.
):(

= = =

= = =

: )( )( )(
)( )( )(
) (

):(


) ( ) (
).(

207

:
= =

= =


= = =

=

):(


.
)( .
)( .
:

)(
)(

208

)(
=
=

= =
):(


=
=
.
=
):(


)( )( )( .
:

209


.
= =

)(

)(

)(

)(

:
)( = )(
=

)( = )(
=

)( = )() (
=

: ) ( = = + +

).(
210

):(

)( ) ( )( ) (
:

=
:
)( ) ( ) (

)( ) ( ) (

) ( ) ( = =

)( ) ( ) (

) ( = =

)( ) ( ) ( )(
) ( =
):(

:
)( ) ( ) ( )(

211

:
=

.
= =

:
)( ) ( ) (
) ( =

)( :

= =

)( ) ( ) (
) ( ) ( :

212

= = + + =

)( ) ( =
= .

):(

) ( ) ( ) (
:
)( ) ( ) ( ) (
) ( .

:
= = + +

)( ) (
=

= = =

213

)( ) (
=


)( =
=

)(
=

=
= =
=

)(
) ( = =
) ( = =
) ( =

= =

214

= = + +

):(

) (
.

)(

)(

)(

)(

) ( ) (

)( =

= ) ( )(
=

)( =
=

)( =
=

215

)( =

=
):(
) ( ) ( )(
) ( )) ( (

) ( )) () ((
)) : () () : (.(
:

= +
:

) : ) ( : (

)) ((

216

:
=

:
=

=
) + (

: +
:
+

:
)) ((

:

:
=
=

) + ) ( + (
+

+
217

) ) ( (

)) () ((


:
=

) (

) ( ) ( :
= =

= =


)( )( :

) ( )(
) () ( ) (

218

)(
.


.
)(
- ) (

)(

)(

)(

)(

)() () () ( =
) :(

)( ) (

) (

- ) (
:
)(

)(

)( )(
)(

) :(

)(
)(

)(
)(

)(

219

)(

)(

)(

)(

)(

- ) ( () ()
) (
)(

)(

)( )(
)(

)(

)(

)(

)( )(

) :(

)(

) (

)(

)(

) (

- ) ( ) (
:
)(
)(
) :(

) (

220



.
-

Independent Events

Dependent Events

-
Events
Independent Events
Mutually Exclusive


:
- .
- .
:

):(

) ( ) ( )(

) ( ) ( ) ( ) ( ) ( )(
) + +

.(

) (
)(
=

221

)(

) ( )(

) ( )(
) ( )(
) ( ) (
) ( ) + + (

) ( ) ( )(
= + +

= + +
=

+ +

) (...
):(


) (

= +

= +
=
=

=
222


=
):(

) (
) ( ) (.
:

= +

) (:


= =

=

= + = + =

223

):(

.
) () (
) ( ) ( ) = (
:

)(
.

)(
) ( ) (

).(
) (
) ( ) ( ).(

) (

) .(
) ( )(
) ( ) (

.
224

):(
)( ) ( )(
) ( ) (
) ( ) (
:

) (

)( ) ( )(

=
= ,

):(

) ( )( ) ( )(
.
) ( )( ) ( )(
.
) ( ) ( .

) = (
= ( )
=
) = (
225

= ) (
=

) = (
= )( ) (
=
=

):(

) ( ) (
) ( ) ( ) (
) ( ) ( ) ( ) .(
) (

.
):(

) ( ()

:
) ( .

) (

.
) ( :
=

=
226

) ( :

) :( ) ( )( )(

.
:

)(
=

)( =

)( :
=

)(
227

)(

) -(


.
) :

228

- )(
) (

.
) :

) - (

) (
.
.() :
:

= .

- )( .
.() :

-
.
.() :

) : (

) (

)( )(
) (

=
229

)(

=
.
= ) + (
=
:

) + ( =
.

)(
:
=

):(

)(

:

=
= =

230

:

.






)(
.

:
) + ( =
)( :
=
=


=
) (

) (%
=

231

= =

)(

= =

) ( ) (%

)( .
):(

) (
)(
) (

) (

()

).(

) (% )(

) ( )(

) ( )(
232



)(

% ) (
.

-
) (

) :(

-
) (

.

) :(

- ) (
)(
) (%
) ( ) ( ) (
) ( ).(
) :(

- )( )(
) (% )(
)(
) (

.
233

) : =
= = (.
) : (

234


:

.

:

:
235

):(
)( ) (
).(

) ( ) (:
)(
)( .
) ( )(:

)( ) ( +
) ( )( .
) ( ) (:

) (
)( ) .( +
) ( ) (:

) (
)( ) .( +

:
) -( )(
)(.

) - ( )(.

236

- -
)(.

) (
.

.

-( .
) (


) (
) (

) ( ) (
) .(
) (


)( ) (
.

) (

)( ) ( ) (

) ( )( )(
.
237

) (

)) = ((
)) = ((

)) = ((

)) = ( (..
) (
)( )) = ( (
) ( )) = ( (...
) (

).(

) ( ).(
) ( ).(
) ( ).(
) ( .....

) (

.
) ( ).(
:
) ( ).(

) ( ).(
) ( ).(
) ( ).(
238

) ( .
......

) ( :
) ( )(
) (
) ( ) (
).(

) (

) ( ) ( ) ( ) (
) (...
:
) ( ) (
) (

) ( ) (
) ( ) ( ) (
) .(........
) (
) ( ) ( ) ( ) (

) ( ) (
) ( ......
)
( :

: ) ( )(
) ( + ) ( +
)( .
= + +

(
239

= +

)(

=( +

: ) ( )(
)( ) ( +
=

)(

: ) ( )(
) ( + ) ( +
=

)(

: )(
) ( + .

+ =

)(

: ) (
) ()( ) +(
)( ) +(
) +(.

) + + + + + = +( )(

: ) ( )(
)( ) ) ( + ( +
) ( + ) ) ( + ( +

) ( + ) ( + .
:
240

= + + + +

)(

) () () ( :

) : )((
+ =
=

++

+ +

)(

) : )((
)(

= +

) = ( + - + +
) = ( + + +
+ = + +

+ + + + + + +

=+
241

) : )((
) ( )( ) + (
)( ) (
)( ) ( +
:
) + + + + = (


):(

.


= + + + +
= + + + +
=

242

):(

:
:

:
: .

: .

:
=
=

=
:
=

:
243

:

=
=
=


=

):(

244

.
:

=
):(
) (

:

245

=
=

):(

) (


.
:

) (
.
= =
= =

):(

) (
:


:


) (

) (
246

=
=
) (
=
=
=

) (
=
=
=

= =

= =
=

= + +
= + +
=
247

)(
-
:
:

:
:

- :
: .

: .
: .
: .

- ) ( :
: .

: .
:
.

: )( )( .
- =

248

- =
.

-
.
- ) (
.

-


.
- :

: .

:
.
:
: .

) ( :
:
:
) ( :
) ( :
:
:
249

) ( () :

() :

:
:
) ( :
) ( :
) ( :

) (() :

) ( () :

) (() :
) ( :
:
:
:

250

251

252

253

) : (
) ( ) (

:
-
- .
) (

) ( ) (:
) ( )(

) (...........
.
) ( ) (

) ( ) ( )

( ) ( ) (
) ( :
:
=

=
: =
=

) ( )(

) (:
254

=
=
=

) ( :
- ) )((
- ) )((

-
-
.

):(
)( ) ( :
= =

==

= = =

255

):(
:
= = =
=
:

):(
:

:
256

) ) ( ) (
) ( .(
:
=
= +
=
=

=
=
=
=

=
=

=
=
257

=
=
=
=

=
=
=
=

=
=
=
=

=
=

=
=

=
=
258

)(
- :

- :
=
=

=
=
=
259

- :

=
=
=
=

=
=
- :

=
=

=
=
=
- :

260

: ) (
=


)(

)(

261

)(

)(

)(

262

:



.

:
:

: )( )(
) +( ) (

(.

: )( )(
) +( )

(.

263

: )( )(
) +( ) +
(+ / )

: )( )(
)( ) +(
) + +( /

(.

: ) (
)(
) +( ) (
)( ) +(

) +( ) =

264

)(

) +(

) ( )(
) +( ) +(.
+

= -

)(

= -


=
=-

= -

=
=

: /

) +( ) +
(+ ) (

265

)( ) +( ) ( +

) + .( +

/ =

= /
=

=
=

: /

/ )(
)( ) +

( ) + +(.

) (
)( ) +( ) +( )
+ +( ) + +(.
) +( ) +

+( ) ( )(.
=+++
266

+++

= /

= + + +

=

= /

267


) : (
-


:
-

)(


:

- :


)(

) :(
:

)(
) +( = +


= + = + .
268

)( .

= +


: .
=
=


=
+

=+

=++
=

)(
)( .
= +

: :

= +

269

= )(
)( )(
=

=+

= ++

= +

270

- : )
(

.
:

- : )(

) (

:

+
.


+ .
=

+ + + + + +

+ + + +

: +

= +

271

- :
:
:

+ .
+ .
) (.
= + +
= ++

+ + + + +

- : )(
)(
:
:
:
:

: = +

)(

: =

-+ + +

272

)(

- : )(
)(

:


:

/ =

)(

/ =

)(

++

- : )(
)(

:
/ : /
/ : / /
:

/ = + + +

)(

/ =

++++

273

)(


:
-
-


.

...............




.
..

):(


.
:


= +

274

+ =

:
=
=
:
=

.
=
= .

):(


= :

275

.
=

):(


.

.
=+

.
= +

= +

276

=
):(

:

.

.
:
= / / +
= +

= +

277

):(





=
+
.

+
= + +

= + +

= + +

278

):(

% /



:


= ( + )

=
=

=
= :
=

=


=

=

279


- :
:

- :
: :

- :

/ / : :

:
- :

/ / : :
-

-
%


:

280

- :


.

)

(.

= : :

=
=
=

=
:
=

281

):(


:


+
=

=
=

-
=

= -

=

=
=
):(
:
(
.
(
.

282

(
.


:
:
- .

-
.
-

.

= / + : + :
/
= -

- +

= + +

= + +

283

:
:
-

- .
-
.
= / + +
=

+ +

+ +

284

):(
) (
:
.
.
.
.
:
:
- .
- .

- .

- .
:
= + :
+ + : :

= +

+ - + -

285

=
=
:
:/ / + :

/ + :/ / +

286

):(





:


.

= + / :
= +

= +

=
+ =
=

287

):(


:


= +
=

= + +

= + +
=


= +

288

)(
- :
: / / :

-
:
-
.

-
.
-

-



:

-
.
:.

:

= +

289

= - +

+

-

-


:

290

( :


.

:
- .
- .
- .

-
.

- .
-
.


: )

.

.

291

- :


.


: :
.
+ .
+

=+

+ .
+ .

= + + +

+ + + +

= : /

=

: / = + +.... +
+ + + +
:/
292

= + + + + +


.
= + + + + + + +

:
: =

)(

+++

) (

.
:
: = : + :
= +

= +++

:
: = / + +
+ / +

+ + +

293

++ ++

= + + + + + +

: = + + + + + + +

= +++

- :


.



.
:

- .
-
.

.
= : + / :/

294

= + + +

)(

.
- :





.
=

+ :

= ) - + ( + +

295

296


):(

.

+++

=
=

= +

= +

=
=

=

= =

297

):(



:


:
= +

=

298

):(




.
:

:
.
.
.

+ : + :

+ +

+ -

299

):(

:
.
.
.
.
:

= + + : :
+ + : :

+ +

+ +

= + + + +

= + + + +

=
=
300

):(





:


.
= + +

=

=

=


301

= +

=

= =

=

=

302

)(
- :
: : :

-
.
:

-
.
:

- :

:
303

:

:
- .
-
.

-
.
-

.







:
- :

- .

.

=
304

:
=

- .

=
=
= :

305

):(

:
=
=

):(



306

=


:

+++

+++

+
+

+
+

307

):(



:


= +


= +

=

308

):(


:


=
=

309

):(


:


=
=

.
=

=
=




.
)(

=
310

= +
=

= +
=

311

)(
-
:
. .
.

. : .

-
:
. .
. .

. : .

- ) (

.

. : .

- ) (

.
. : .

-


:
312

. .

. : .

- :
.

- ) (
:

-
-
- :

313

):(
:
= + +

= +

= +

+ +
+

314

) :( :
:

/ = +

+++

= +
=

++

+ -++

) :( :
= / + / + + + /

++

+ +

= + + + +

= +

=
315

):(
:
+= +
:
=

++

++

= +

= ++

316

) :( :
:

:

:
:

=
= +

:
=
= +

= -


=-

= -
=

317

) :( :
:

:

:
:

= /

= + + +

=

=

=
:


.

= /
= +

318

=
) :( = =
:
:

.
: .
:

: =


=

: =
=

:
=
=
=

319

):(
:
, =
=
=
=

=
=

:
-
.

-

-
.
- .

- .

-
.
- .
- ) () (
.

320

-
.
-
.

-

.%
:

-
.
321

- - =

- =
=

=
=

- =

=

=
)= / (
-
=

=
- = -

= -
=

- =

322

=
- =

= /

=
- =

) (

) (
:

= =


- = -
=

323

=
- = + +

-

=

=

= -

= -
=
-
324

= ) - (

= )( -

= ( ) -

- = - ) (

- :
=
%

= ) (
=

325

):(

:
- .
- .
- .

- .

- .
- .
:

=

=
=

- .
=

=
326

-
=


=++
=

=
-
=

=
=
-
=
+
+
=++
=

=
=

-
=
327

=
=

- =
=
=

):(
) (
. =

.
:

( ) + =
=
( ) + =
=
( ) + =
=

( ) + =
=
( ) + =
=
328

( ) + =
=

= :

- =

= -

329

):(

.
:


=
+

+
= - ) (

= ( - )

= ( )
=

= - ) (

= ( )
=

=
= +
=

330

):(


:


=
/ +
/ +
/ +
+
= ) - (

= ) ( -

= ) (
=

= ) - (

= ) ( -

= ) (
=

331

=
=

= ) - - ) ( - ) ( (

=
=

= / + / + / +

332


- .
-

- .
- .

333

You might also like