Deck 11: Excel Lesson 5: Using Functions

Question 1

An example of the function of the natural logarithm of a number written correctly is ____.

A) =LOG(50)
B) =LN(50)
C) =NL(50)
D) =(NL,50,2)

Answer 1

B

Question 2

The selection is the body of numbers the statistics will describe.

Answer 2

False

Question 3

=ROUND(142.3433,-2) returns 142.34 .

Answer 3

False

Question 4

If a function contains more than one argument, semicolons separate the arguments.

Question 5

____ helps you enter a formula with a valid function name and arguments. As you begin to type the function name, a list of function names appears below the active cell.

A) Formula Complete
B) Formula Now
C) Formula Selector
D) Formula AutoComplete

Question 6

You must use double brackets to enclose the text you want the IF function to return in the second and third arguments.

Question 7

An example of a square root function written correctly is ____.

A) SQRT(C4)
B) =SQROOT(C4)
C) =SQRT(C4)
D) SQROOT(C4)

Question 8

A keyboard shortcut is a shorthand way to write an equation that performs a calculation.

Question 9

The primary financial functions are future value, present value, and payment .

Question 10

When you type =s , all functions that begin with the letter s appear in the list box, such as SEARCH, SECON, and SERISSUM.

Question 11

Date and time functions are used to format and work with cell contents.

Question 12

Some mathematical operations, such as addition, subtraction, multiplication, and division, do not require functions.

Question 13

Because Excel includes so many functions, the best way to select a function is from the Excel Help.

Question 14

You can use the SUM function to total the values stored in up to 255 non-adjacent cells or ranges.

Question 15

In the IF function, the first argument sets a condition for comparison, called a relative test.

Question 16

Logical functions can determine the average, standard deviation, or variance of a range of data.

Question 17

If you know the function you want to enter, you can click the appropriate category button in the ____ group on the Formulas tab of the Ribbon.

A) Function Library
B) Formula
C) Data
D) Calculations

Question 18

A text function can be used to convert text in a cell to all uppercase or lowercase letters.

Question 19

The rounding operation requires two arguments, which are separated by a comma.

Question 20

You can use the Insert Function dialog box to find a specific function. In the ____ box, type a brief description of what you want to do. Then, click Go.

A) Directory
B) Find what
C) Search for a function
D) Go to

Question 21

In the IF function, the second argument determines the value that appears in the cell if the logical test is ____.

A) false
B) true
C) an error
D) none of the above

Question 22

The present value of a loan based on equal payments is written as ____.

A) PV(rate,nper,pmt,fv,type)
B) PVAL(rate,nper,pmt,fv,type)
C) PV(rate,nper,pmt,term)
D) PVAL(rate,nper,pmt,term)

Question 23

In a PMT function, the argument indicated by fv refers to ____.

A) future value
B) past value
C) favorite value
D) fixed value

Question 24

The IFERROR function is written as ____.

A) IFERROR(value_if_error,value)
B) IFERROR(value,value_if_error)
C) IFERROR(value_if_error)
D) IFERROR(value)

Question 25

Case EX 5-1 Cheryl is planning to use Formula AutoComplete to help her enter some formulas in her new worksheet. Cheryl has found the formula she wants to use by using Formula AutoComplete. How can she access a Screen Tip to guide her in entering the necessary arguments?

A) Double-click the name of the function
B) Double-click anywhere inside the worksheet
C) Double-click anywhere outside the worksheet
D) None of the above

Question 26

Case EX 5-2 Sam is using the functions within Excel to complete questions in a school homework assignment. Sam needs to find the average of a range of numbers. What would be an example of a formula written correctly?

A) =AVG(E4,E9)
B) =AVERAGE(E4:E9)
C) =AVG(E4:E9)
D) +AVERAGE(E4:E9)

Question 27

The ____________________ is the value the function uses to perform a calculation, including a number, text, or a cell reference that acts as an operand.

Question 28

You can enter a formula with the AVERAGE, COUNT, MAX, or MIN function in a selected cell by clicking the Sum button arrow in the ____ group on the Home tab, clicking the function name, selecting the appropriate range, and then pressing the Enter key.

A) Editing
B) Formulas
C) Cells
D) Worksheet

Question 29

An example of the function that returns the number of cells in a range of cells that contain data is ____.

A) =NUMBER(B4)
B) =COUNT(B4)
C) =NUMBER(B4:B15)
D) =COUNT(B4:B15)

Question 30

The AND function returns the result of ____ if any or all of the arguments are false.

A) TRUE
B) FALSE
C) ERROR
D) none of the above

Question 31

The ____ function repeats the text in the specified cell a specified number of times.

A) MIRROR
B) REPT
C) AGAIN
D) OVER

Question 32

Date and time functions can be used to convert serial numbers to a ____.

A) month
B) day
C) year
D) all of the above

Question 33

FIGURE EX 5-1 In Figure EX 5-1 above, the annual interest rate is ____.

A) )015%
B) 0.15%
C) 1.5%
D) 15%

Question 34

The ____ function replaces existing text in a specified cell with new text.

A) FIND AND REPLACE
B) WRITE OVER
C) SUBSTITUTE
D) REPLACE

Question 35

Case EX 5-1 Cheryl is planning to use Formula AutoComplete to help her enter some formulas in her new worksheet. What should Cheryl do to access Formula AutoComplete to help her write her formulas?

A) Type the first letters in a cell
B) Click Formula AutoComplete on the Ribbon
C) Open the AutoComplete Wizard by right-clicking on the active cell
D) None of the above

Question 36

FIGURE EX 5-1 In Figure EX 5-1 above, the Pmt figure is -250. The negative number means ____.

A) the entry is income
B) the entry is a payment
C) there is an error
D) the person is behind on their payments

Question 37

The function ____ returns the estimated variance of the numbers in the range.

A) VAR(number1,number2...)
B) EVAR(number1,number2...)
C) ESTVAR(number1,number2...)
D) EV(number1,number2...)

Question 38

In the IF function, the third argument determines the value that appears in the cell if the logical test is ____.

A) false
B) true
C) an error
D) none of the above

Question 39

The ____ function returns the current date and time based on the computer's date and time settings.

A) NOW( )
B) WHEN( )
C) CURRENT( )
D) DATE( )

Question 40

Case EX 5-2 Sam is using the functions within Excel to complete questions in a school homework assignment. Sam needs to round some figures in a worksheet. The Round function is considered to be a _____ function.

A) date and time
B) financial
C) mathematical
D) statistical

Question 41

The monthly interest rate is determined by dividing the annual interest rate by 12 ____________________.

Question 42

The ____________________(text) function converts the first letter of each word in the specified cell to uppercase and the rest to lowercase.

Question 44

As an example of a financial function, =____________________(.1,5,-500) displays the current value of five payments of $500 at a 10% interest rate.

Question 45

Please briefly describe the DATE and NOW functions, including how the formula is written, any arguments involved, and a situation of when you would use that function: DATE and NOW.

Question 46

The ____________________(logical) function returns a value of TRUE if the argument is false, and FALSE if the argument is true;