Deck 4: Financial Functions,Data Tables,and Amortization Schedules

Question 1

What is the path to the What-If Analysis button?

A) (DATA tab | Data Tools group)
B) (HOME tab | Analysis group)
C) (INSERT tab | What-If Tools group)
D) (INSERT tab | Conditions group)

Answer 1

A

Question 2

Names are ____ to the workbook.

A) national
B) international
C) global
D) inclusive

Answer 2

C

Question 3

You can delete a data table by selecting the data table and then ____.

A) clicking the Delete command in the Clipboard group on the Home tab
B) pressing the DELETE key
C) clicking the DELETE DATA TABLE command on a shortcut menu
D) pressing the OVERTYPE key

Answer 3

B

Question 4

Which of the following is the path to the Fill button?

A) (HOME tab | Clipboard group)
B) (HOME tab | Alignment group)
C) (HOME tab | Editing group)
D) (HOME tab | Styles group)

Question 5

You use a(n)____ to automate data analyses.

A) data table
B) formula checker
C) amortization schedule
D) IF function

Question 6

Which of the following is the path to the Borders button?

A) (HOME tab | Alignment group)
B) (HOME tab | Editing group)
C) (HOME tab | Font group)
D) (HOME tab | Clipboard group)

Question 7

You can deselect multiple selected sheets beginning with the Sheet1 tab by pressing the ____ key and clicking the Sheet1 tab.

A) ALT
B) CTRL
C) TAB
D) SHIFT

Question 8

The ____ function returns the present value of an annuity.

A) FV
B) PMT
C) PV
D) VDB

Question 9

____ ensures that users do not change values inadvertently that are critical to the worksheet.

A) Cell protection
B) Range Finder
C) The formula checker
D) A data table

Question 10

The arguments in ____ in the ScreenTip for a function are optional.

A) brackets
B) braces
C) parentheses
D) quotation marks

Question 11

Which of the following is the path to the Name Manager button?

A) (FORMULAS tab | Function Library group)
B) (FORMULAS tab | Defined Names group)
C) (FORMULAS tab | Names group)
D) (FORMULAS tab | Calculation group)

Question 12

Names are ____ cell references.

A) absolute
B) mixed
C) relative
D) formatted

Question 13

Which of the following is the path to the Financial button and the PMT function?

A) (FORMULAS tab | Function Library group)
B) (HOME tab | Formulas group)
C) (FORMULAS tab | Defined Names group)
D) (DATA tab | Function Library group)

Question 14

Which of the following is the path to the Cell Styles button?

A) (HOME tab | Cells group)
B) (FORMAT tab | Styles group)
C) (FORMAT tab | Cells group)
D) (HOME tab | Styles group)

Question 15

A cell ____ often is created from column or row titles.

A) function
B) name
C) formula
D) data table

Question 16

A(n)____ shows the beginning and ending balances and the amount of payment that is applied to the principal and interest during each payment period.

A) dialog box
B) amortization schedule
C) formula checker
D) data table

Question 17

Which of the following is the maximum number of active data tables per worksheet?

A) 5
B) 20
C) 50
D) As many as you want

Question 18

With a(n)____ data table you can vary the value in one cell.

A) one-input
B) two-input
C) three-input
D) unlimited-input

Question 19

____ examines the formulas in a workbook in a manner similar to the way the spell checker examines a workbook for misspelled words.

A) The Range Finder
B) The formula checker
C) A data table
D) An amortization schedule

Question 20

Data tables must be built in a(n)____ area of a worksheet.

A) used
B) unused
C) upper-left
D) lower-right

Question 21

You can set up a worksheet to print in black and white with an option on the ____ tab in the Page Setup dialog box.

A) Page
B) Sheet
C) Margins
D) Header / Footer

Question 22

Similar to the spell checker,Excel has a formula checker that checks formulas in a worksheet for rule ____.

A) repetitiveness
B) brevity
C) violations
D) consistency

Question 23

In the accompanying figure,the Print area box accepts a name or a ____ to print.

A) range
B) file
C) worksheet
D) tab

Question 24

To prevent round-off errors,use the ____ function.

A) RAND
B) ROUND
C) RADIANS
D) ROMAN

Question 25

To hide an entire workbook on an unattended computer,click the Hide button on the ____.

A) (HOME tab | View group)
B) (VIEW tab | Workbook Views group)
C) (VIEW tab | Window group)
D) (HOME tab | Display group)

Question 26

You should create a(n)____ when you want to keep others from changing the worksheet from protected to unprotected.

A) password
B) authorized user
C) manager account
D) administrative account

Question 27

If you click the ____,Excel displays a menu; the first item in the menu identifies the error and the remainder of the menu contains commands from which you can choose.

A) cell boundary
B) Error Checking button
C) fill handle
D) Trace Error button

Question 28

In a process called ____,Excel continually reviews the workbook for errors in formulas as you create or manipulate it.

A) background formula checking
B) workbook formula checking
C) foreground formula checking
D) background function checking

Question 29

Which of the following is the path to the Protect Sheet button?

A) (VIEW tab | Protect Sheet group)
B) (HOME tab | Protection group)
C) (REVIEW tab | Changes group)
D) (VIEW tab | Protect group)

Question 30

To select noncontiguous ranges,after selecting the first range,hold down the ____ key an drag through the additional ranges of cells to select them.

A) ALT
B) F3
C) CTRL
D) F10

Question 31

To prevent sensitive data from being seen in a worksheet,you can hide the worksheet by clicking ____ on the shortcut menu.

A) Hide Sheet
B) Hide Rows and Columns
C) Hide Workbook
D) Hide

Question 32

When building a worksheet for novice users,you should ____ the cells in the worksheet that you do not want changed,such as cells that contain text or formulas.

A) hide
B) protect
C) code
D) delete

Question 33

If you wish to allow another worksheet user to be able to manipulate some cells,leave those cells ____.

A) locked
B) indexed
C) unprotected
D) hybrid

Question 34

A check mark in the ____ check box speeds up printing by ignoring formatting and not printing most graphics.

A) Print titles
B) Black and white
C) Gridlines
D) Draft quality

Question 35

Rather than manually setting a print area each time you want to print a range,you can ____ the range.

A) lock
B) manipulate
C) name
D) validate

Question 36

When a formula fails to pass one of the rules and background formula checking is enabled,Excel displays a small ____ in the upper-left corner of the cell assigned the formula.

A) blue square
B) red circle
C) green triangle
D) green diamond

Question 37

You can add and format a range border by right-clicking the selected range and clicking ____ on the resulting shortcut menu.

A) Paste Options
B) Insert Comment
C) Format Cells
D) Filter

Question 38

Cell ____ can be used to distinguish the different functional parts of a worksheet.

A) ranges
B) values
C) indices
D) borders

Question 39

You can choose which rules you want Excel to use by enabling and disabling them in the ____ area in the Excel Options dialog box.

A) General
B) Formulas
C) Proofing
D) Advanced

Question 40

You can scale a worksheet so that it will fit on one page with an option on the ____ tab in the Page Setup dialog box.

A) Margins
B) Header / Footer
C) Page
D) Sheet

Question 41

A cell name often is created from column and row titles.

Question 42

When Range Finder is active,you can drag the outlines from one cell to another cell to change the cells referenced in the formula,provided the cells have not been named.

Question 43

You can name a range by ____.
a.
selecting a cell or range,typing the name in the Name box,and pressing the ENTER key
b.
selecting a cell or range,tapping or clicking the Define Name button (FORMULAS tab | Define Names group)
c.
selecting a cell or range,typing the name in the formula bar,and pressing the ENTER key
d.
selecting a cell or range,and pressing CTRL+SHIFT+F3

Question 44

You should create worksheets as if you are going to use them only once.

Question 45

When a cell is formatted for a percent,if you enter the number .5 Excel translates the value as 50%.

Question 46

You can double-tap or double-click a cell with a formula and Excel will use Formula Seek to highlight the cells that provide data for the formula.

Question 47

The FV function returns the future value of an investment based on periodic,constant payments and a constant interest rate.

Question 48

The PMT function has two arguments: rate and payment.

Question 49

An amortization schedule shows the ____ of a loan,and the amount of payment that applies to the principal and interest for each year over the life of the loan.
a.
daily income
b.
beginning balance
c.
ending balance
d.
daily cost

Question 50

Which of the following are financial functions?
a.
PV
b.
PMT
c.
FV
d.
SUM

Question 51

When you format a cell to display percentages,Excel assumes that whatever you enter into that cell in the future will be a percentage.

Question 52

Excel automatically selects the Left column check box in the Create Names from Selection dialog box in order to determine which option to select automatically.

Question 53

Assigning names to a cell or range of cells allows you to select them quickly.

Question 54

Which of the following functions have these three arguments: rate,periods,payment?
a.
PV
b.
IF
c.
FV
d.
PMT

Question 55

If you enter a formula using Point mode and tap and click a cell that has an assigned name,then Excel will insert the name of the cell rather than the cell reference.

Question 56

You cannot use column and row titles within formulas when you want to refer to the related data by name.

Question 57

Two of the more powerful aspects of Excel are its wide array of functions and its capability of organizing answers to what-if questions.

Question 58

Excel is case sensitive with respect to names of cells.

Question 59

Spreadsheet specialists usually format a worksheet before they enter any data.

Question 60

Which of the following are PMT function arguments?
a.
formula name
b.
monthly interest rate
c.
number of payments
d.
loan amount

Question 61

Once you set a print area,Excel will continue to print the specified range,rather than the entire worksheet.

Question 62

An amortization schedule summarizes loan information over the life of the loan.

Question 63

A(n)index is a series of fixed payments made at the end of each of a fixed number of periods at a fixed interest rate._________________________

Question 64

A name cannot be assigned to two or more nonadjacent ranges.

Question 65

The spell checker examines the formulas in a workbook in a manner similar to the way the spell checker examines a workbook for misspelled words._________________________

Question 66

Data tables have multiple purpose(s)._________________________

Question 67

To include additional formulas in a one-input data table,enter them in adjacent cells in the same row as the current formulas and then define the entire new range as a data table.

Question 68

A column border is an unused column with a significantly reduced width.

Question 69

Excel lets you format ____________________ before you enter data,when you enter data,incrementally after entering sections of data,and after you enter all the data.

Question 70

You can use the ROUND function to determine how much the borrower of a loan still owes at the end of each year.

Question 71

You can define descriptive names that are not column titles or row titles to represent cells,ranges of cells,formulas,or constants._________________________

Question 72

When you format a cell to display percentages,Excel assumes that whatever you enter into that cell in the future will be a percentage.Thus,if you enter the number .5,Excel translates the value as ____________________.

Question 73

The print options available on the Margins tab in the Page Setup dialog box pertain to the way the worksheet will appear in the printed copy or when previewed.

Question 74

Smart worksheet design starts with visualizing the results you need._________________________

Question 75

The best alternative to define the formulas in a data table involves using the cell references preceded by an equal sign.

Question 76

An alternative to a one-input data table is a three-input data table.

Question 77

Periods and underscore characters are allowed in,but cannot begin,cell ____________________.

Question 78

____________________ portions of a workbook lets you show only the parts of the workbook that the user needs to see.

Question 79

Cell ____________________ ensures that users do not change values inadvertently that are critical to the worksheet.

Question 80

You can add only a maximum of five conditional formats to a range.