SIC投资挑战赛知识点整理：交易规则、交易机制和财务比率！犀牛教育成为SIC官方授权考点

• Most major,full-service brokerages derive much of their profits from charging commissions on client transactions.Commissions vary widely from brokerage to brokerage. Commissions can eat into an investor’s returns.

• When a publicly traded company issues a corporate action, itis initiating a process that directly affects the securities issued by that company. Dividends,stock splits. mergers. acauisitions and spinoffs are al common examples of corporate actions.

• Roughly 35,000 securities trade on the OTC market.Thousands of brokers register with the SEC as security dealers. Dealers quote prices at which they are willing to buy orsell securities.

• Where,EBITDA=EBIT+Depreciation+Amortization The problem with the TIE ratio is that it's based on EBIT, which is not really a measure of cash available to pay interest.The reason is that depreciation and amortization, noncash expenses,have been deducted out. 

Receivables Turnover=Sales/Accounts Receivables Days' sales in receivables= 365 days/Receivables Turnover.

• This ratio gives a "big picture", as it measures how much sales is generated for every dollar in assets.