Deck 7: Excell: Formulas and Functions

Question 1

Which Excel function changes the value to a desired number of decimal places?

A) truncate
B) Round
C) Decrease decimal
D) Increase decimal

Answer 1

B

Question 2

If a cell containing the formula =$B$14 is not copy and pasted, but moved four columns over and four rows down, what would the resultant cell reference become?

A) =F18
B) =$F$18
C) =B14
D) =$B$14

Answer 2

D

Question 3

If you wanted to reference a cell in a formula and you did not want that cell to change when copying and pasting you would use what kind of reference?

A) Fixed
B) Relative
C) Mixed
D) Absolute

Answer 3

D

Question 4

What type of cell reference should be used when a value remains constant?

A) Absolute
B) Relative
C) Mixed
D) Constant

Question 5

Functions can be selected by using the ________.

A) Add Function dialog box
B) Format Function dialog box
C) Insert Function dialog box
D) Create Function dialog box

Question 6

What two functions compute the central tendency of values?

A) AVERAGE and MODE
B) AVERAGE and MEDIAN
C) MIN and MAX
D) AVERAGE and CENTER

Question 7

If a cell containing =B$14 is copied and pasted three columns over and two rows down, what would the resultant cell reference become?

A) E$14
B) $E$14
C) B16
D) B$16

Question 8

Which of the following is not a category of functions?

A) Logical
B) Financial
C) Statistical
D) Graphing

Question 9

What does Excel use to indicate optional arguments in a function?

A) Square brackets []
B) Parenthesis ()
C) Curly brackets {}
D) Quote marks ""

Question 10

Which of the following is not a valid logical test?

A) =>
B) <=
C) <>
D) >=

Question 11

What punctuation is used to separate the two cell references in a range?

A) Period (.)
B) Semi-colon (;)
C) Comma (,)
D) Colon (:)

Question 12

Where does Excel automatically display statistics like count, average, and sum when a range of values is selected?

A) Formula bar
B) Name box
C) Status bar
D) Statistics bar

Question 13

Which keyboard shortcut toggles through the types of reference options?

A) F2
B) F3
C) F4
D) F5

Question 14

What do you use to separate arguments in a function?

A) Period (.)
B) Semi-colon (;)
C) Comma (,)
D) Colon (:)

Question 15

What term refers to the necessity of following the rules when it comes to using functions?

A) syntax
B) formula
C) arguments
D) function logic

Question 16

What is the default method of referencing cells in formulas?

A) Absolute
B) Relative
C) Mixed
D) Default

Question 17

What describes a function's purpose?

A) Arguments
B) Name
C) Category
D) Variables

Question 18

If the cell reference $A5 in a formula is copied and pasted over two columns and down two rows from its original cell, what the cell reference become in the new cell?

A) $A5
B) $A7
C) $C5
D) $C7

Question 19

Which function would you use if you wanted to count the number of values, but ignore cells that have text or are empty?

A) COUNT
B) COUNTA
C) COUNTBLANK
D) COUNTVALUES

Question 20

What error will you get if you type a function name incorrectly?

A) #FUNCTION?
B) #VALUE?
C) #ERROR?
D) #NAME?

Question 21

Which function would you use to find the oldest date in a range?

A) MIN
B) MAX
C) OLDEST
D) MEDIAN

Question 22

What function computes the value in which one-half of the data is above and one-half is below.

A) MIDDLE
B) MODE
C) AVERAGE
D) MEDIAN

Question 23

What is the term for the inputs required in a function?

A) formulas
B) syntax
C) arguments
D) terms

Question 24

Which of the following is not a valid test in an =IF statement?

A) A4-B4
B) A4C) A4>A4
D) B4<=B4

Question 25

Which of the following is not a valid =IF statement?

A) =IF(A5>19,"Greater","Not Greater")
B) =IF(A5>19,b7,b9)
C) =IF(A5>19,1,9)
D) =IF(A5>19,Greater,Not Greater)

Question 26

To look up an exact match, what should you enter in the range_lookup argument?

A) FALSE
B) TRUE
C) EXACT
D) Leave it blank

Question 27

If A7=21, which of the following =IF statements would produce the result of "Much Greater"?

A) =IF(A7>14,"Greater",IF(A7>20,"Much Greater","Not Greater than 20"))
B) =IF(A7<50,"Greater",IF(A7>20,"Much Greater","Not Greater than 20"))
C) =IF(A7<14,"Greater",IF(A7>20,"Much Greater","Not Greater than 20"))
D) =IF(A7<14,"Greater",IF(A7>20,"Much Greater","Not Greater than 20")

Question 28

Which of the following would not produce the correct monthly payment on a loan of $13,000 which will be paid off in 5 years with an annual interest rate of 6%?

A) =PMT(6%,60,-13000)
B) =PMT(.5%,60,-13000)
C) =PMT(.5%,5*12,-13000)
D) =PMT(6% / 12,60,-13000)

Question 29

If you will never copy and paste a formula you do not have to be concerned about absolute, relative, or mixed references.

Question 30

What will you see if you enter the TODAY function without the parenthesis?

A) #VALUE?
B) Nothing. It will fill in the parenthesis for you.
C) #FUNCTION?
D) #NAME?

Question 31

What does the AVERAGE function not ignore?

A) Text
B) Empty cells
C) Dates
D) Cells with N / A

Question 32

Which status bar statistic can you not enable?

A) SUM
B) MIN
C) Range Name
D) Page Number

Question 33

If you wanted to count the number of entries in a list that contained numbers, text, and blank cells, but ignore the text and blank cells, which function would you use?

A) COUNT
B) COUNTA
C) COUNTBLANK
D) COUNTIF

Question 34

The ROUND function requires how many arguments?

A) 2
B) 3
C) 4
D) 1

Question 35

Which of the following does not comply with the preferred way of using the SUM function?

A) =SUM(A4:A11)
B) =SUM(A4:A11, B9:E11)
C) =SUM(A4, B8, D14)
D) =SUM(A4 / A11)

Question 36

Which of the following is not an argument associated with the IF function?

A) Test
B) Value if true
C) Value if false
D) Value if neither true nor false

Question 37

Which of the following is not a valid lookup function?

A) HLOOKUP
B) VLOOKUP
C) LLOOKUP
D) LOOKUP

Question 38

What keyboard shortcut will automatically update any formulas using =TODAY() or =NOW()?

A) F8
B) F9
C) F10
D) F11

Question 39

Which of the following will not return the system clock's date?

A) NOW()
B) TODAY()
C) Ctrl+;
D) DATE()

Question 40

What action changes the actual number of decimal places Excel stores instead of just changing what is displayed?

A) Decrease decimal setting
B) Increase decimal setting
C) ROUND function
D) DECIMAL function

Question 41

The VLOOKUP function has four required arguments.

Question 42

The most used logical function is the IF function.

Question 43

It is very important to sort the first column in a table lookup array in descending order.

Question 44

A lookup table should contain at least two rows and two columns, not counting headings.

Question 45

The HLOOKUP function can only be used to find exact matches.

Question 46

The COUNTA function only counts text entries. It does not count calculable values or blank cells.

Question 47

The test in an IF function must evaluate to either a True or a False.

Question 48

Excel assigns date number 1 to January 1, 1900.

Question 49

This is a valid way to use the MAX function: =MAX(a4:d11, f1:f2)

Question 50

In the HLOOKUP function, the third argument is the column index number.

Question 51

If you are looking up exact values in a lookup table then it does not matter how the table is sorted.

Question 52

All IF functions have three arguments.

Question 53

When entering functions, the square brackets, [], indicate required values.

Question 54

The COUNTBLANK function will count cells that contain formulas that compute to a value of zero (0).

Question 55

You could use both A3>b9 or B9

Question 56

The PMT function uses three required arguments and no optional arguments.

Question 57

In a mixed reference you can put the dollar sign ($) in front of the column or row indicator.

Question 58

A good practice when entering function names is to type them in lowercase and see if Excel converts them to upper case.

Question 59

If you omit the fourth argument in a VLOOKUP function, Excel will assume you intend the fourth argument to be False.

Question 60

There are rare occasions when both the second and third argument of an IF function are executed.

Question 61

________ tool is a set of analytical tools that appears when you select a range.

Question 62

The ________ function actually changes the number of decimal places in the value.

Question 63

When working with dates, Excel actually assigns ________ numbers to each date.

Question 64

Functions can be nested inside the arguments in the various lookup functions.

Question 65

The MIN and MAX functions can be used with ________ as well as numbers.

Question 66

A function's ________ defines the rules by which the function operates.

Question 67

The ________ function is similar to the TODAY() function, except that it also returns the system time.

Question 68

________ references change when formulas are copy and pasted.

Question 69

When you use the VLOOKUP function, the ________ column in the array is used to look up the value.

Question 70

The ________ function counts the number of calculable values, but ignores cells that have text or are empty.

Question 71

FV is a required argument in the PMT function.

Question 72

The inputs in a function are specified by its ________.

Question 73

The ________ function finds the largest value in a range.

Question 74

The ________ function finds the smallest value in a range.

Question 75

The ________ feature in Excel displays various options when you type an equal (=) sign and then begin typing a function name.

Question 76

The default calculation using the PMT function will produce a negative number.

Question 77

The two optional arguments in the PMT function allows the function to be used with variable loans.

Question 78

The TODAY() and NOW() functions are updated every time you open or ________ the spreadsheet.

Question 79

Using ________ simplifies adding complex mathematical formulas to a cell.

Question 80

It is called a(n) ________ function when a function is used inside of another function.