Deck 3: Working With Formulas and Functions

Question 1

You can build decision-making capability into a formula through the use of a logical function.

Answer 1

True

Question 2

To enter a mixed reference,type $ after either the row or column reference.

Answer 2

False

Question 3

You can open the Insert Function dialog box by clicking the Insert Function button on the Ribbon.

Answer 3

False

Question 4

As you begin to type a function name within a formula into a cell,a list of functions that begin with the letters you typed appears.

Question 5

AutoFill can recognize some patterns if you plug in a minimum of at least two values,such as "Monday,Tuesday."

Question 6

Functions can be incorporated as part of larger formulas.

Question 7

One challenge of nesting functions is to make sure that you include all of the parentheses.

Question 8

A mixed reference "locks" one part of the cell reference while the other part can change.

Question 9

Using the AutoFill feature is more efficient than copying and pasting.

Question 10

The Rand( )function falls under the Statistical category.

Question 11

In the Function Arguments dialog box,required arguments are in bold type.

Question 12

Optional arguments are always placed last in the argument list.

Question 13

When you enter a formula into a cell,Excel interprets cell references in the formula in relation to the cell's location.

Question 14

Functions are organized in the Function Library group in the Function tab on the Ribbon.

Question 15

Not all functions have arguments.

Question 16

The Format Painter button is on the Clipboard group.

Question 17

COUNT is a Statistical function.

Question 18

In the list of AutoFill Options,the Fill Formatting Only option is the default setting.

Question 19

If a formula contains several functions,Excel starts with the outermost function and then moves inward.

Question 20

The Function Library is a group on the Ribbon.

Question 21

AutoFill,which copies content and formats from a cell or range into an adjacent cell or range._________________________

Question 22

The mode is most often used with data that has only a few possible values,such as the number of bedrooms in a house._________________________

Question 23

Excel allows you to cycle through the different reference types using the F2 key._________________________

Question 24

The Logical button is part of the Comparison Library group._________________________

Question 25

MATCHING
Identify the letter of the choice that best matches the phrase or definition.
a.NOW
g.F4
b.PMT function
h.Absolute references
c.Principal
i.nested
d.Simple interest
j.mixed
e.fv
k.Mon,Tues,Wed,Thurs,Fri
f.<
l.Median
The amount of money loaned

Question 26

When you copy and paste a formula with mixed reference to a new location,the absolute portion of the cell reference remains fixed and the relative portion shifts._________________________

Question 27

When the data includes a few extremely large or extremely small values,it might be best to use the median value from the sample._________________________

Question 28

A mixed formula contains both relative and absolute references._________________________

Question 29

MATCHING
Identify the letter of the choice that best matches the phrase or definition.
a.NOW
g.F4
b.PMT function
h.Absolute references
c.Principal
i.nested
d.Simple interest
j.mixed
e.fv
k.Mon,Tues,Wed,Thurs,Fri
f.<
l.Median
Optional argument in the PMT function

Question 30

MATCHING
Identify the letter of the choice that best matches the phrase or definition.
a.NOW
g.F4
b.PMT function
h.Absolute references
c.Principal
i.nested
d.Simple interest
j.mixed
e.fv
k.Mon,Tues,Wed,Thurs,Fri
f.<
l.Median
A date and time function

Question 31

MATCHING
Identify the letter of the choice that best matches the phrase or definition.
a.NOW
g.F4
b.PMT function
h.Absolute references
c.Principal
i.nested
d.Simple interest
j.mixed
e.fv
k.Mon,Tues,Wed,Thurs,Fri
f.<
l.Median
Those that are fixed

Question 32

For more complex patterns,you can use the Fill Series dialog box._________________________

Question 33

The statement "A1 >= B1" tests whether the value in cell A1 is lesser than or equal to the value in cell B1._________________________

Question 34

Use relative references when you want to repeat the same formula with different cells._________________________

Question 35

The following mixed reference in the formula,$A5,has a fixed column reference and a relative row reference._________________________

Question 36

To copy only the formats or only the formulas,click the Copy Options button and select the appropriate option._________________________

Question 37

$B$8 is a(n)relative reference to cell B8._________________________

Question 38

You use an absolute reference when you don't want a cell reference to change._________________________

Question 39

The OR function is a logical function that returns one value if the statement is true and returns a different value if the statement is false._________________________

Question 40

MATCHING
Identify the letter of the choice that best matches the phrase or definition.
a.NOW
g.F4
b.PMT function
h.Absolute references
c.Principal
i.nested
d.Simple interest
j.mixed
e.fv
k.Mon,Tues,Wed,Thurs,Fri
f.<
l.Median
Used to cycle through reference types

Question 41

After you describe a function in the Insert Function dialog box,click ____.

A) Go
B) Select
C) Insert
D) Next

Question 42

Referring to the figure above,in order to open the Function Arguments dialog box select a function from the ____.

A) Name Manager
B) Function Library
C) Defined Names
D) Home tab

Question 43

=INT(AVERAGE(A1:A100))is an example of a(n)____ function.

A) complex
B) logical
C) absolute
D) nested

Question 44

MATCHING
Identify the letter of the choice that best matches the phrase or definition.
a.NOW
g.F4
b.PMT function
h.Absolute references
c.Principal
i.nested
d.Simple interest
j.mixed
e.fv
k.Mon,Tues,Wed,Thurs,Fri
f.<
l.Median
AutoFill pattern

Question 45

MATCHING
Identify the letter of the choice that best matches the phrase or definition.
a.NOW
g.F4
b.PMT function
h.Absolute references
c.Principal
i.nested
d.Simple interest
j.mixed
e.fv
k.Mon,Tues,Wed,Thurs,Fri
f.<
l.Median
A function inside another function

Question 46

MATCHING
Identify the letter of the choice that best matches the phrase or definition.
a.NOW
g.F4
b.PMT function
h.Absolute references
c.Principal
i.nested
d.Simple interest
j.mixed
e.fv
k.Mon,Tues,Wed,Thurs,Fri
f.<
l.Median
A comparison operator

Question 47

Every function has to follow ____.

A) a formula
B) directions
C) syntax
D) a format

Question 48

The ____ category of Excel functions returns (true-false)values

A) Information
B) Statistical
C) Logical
D) Math & Trig

Question 49

MATCHING
Identify the letter of the choice that best matches the phrase or definition.
a.NOW
g.F4
b.PMT function
h.Absolute references
c.Principal
i.nested
d.Simple interest
j.mixed
e.fv
k.Mon,Tues,Wed,Thurs,Fri
f.<
l.Median
Contains absolute and relative references

Question 50

MATCHING
Identify the letter of the choice that best matches the phrase or definition.
a.NOW
g.F4
b.PMT function
h.Absolute references
c.Principal
i.nested
d.Simple interest
j.mixed
e.fv
k.Mon,Tues,Wed,Thurs,Fri
f.<
l.Median
Equal to a percentage of principal for each period that the money has been lent

Question 51

Which of the following is a Statistical function?

A) INT
B) RAND
C) ROUND
D) AVERAGE

Question 52

The ____ category of Excel functions retrieves data from multidimensional databases involving online analytical processing.

A) OLAP
B) CUBE
C) Logical
D) Text

Question 53

MATCHING
Identify the letter of the choice that best matches the phrase or definition.
a.NOW
g.F4
b.PMT function
h.Absolute references
c.Principal
i.nested
d.Simple interest
j.mixed
e.fv
k.Mon,Tues,Wed,Thurs,Fri
f.<
l.Median
A Statistical function

Question 54

Which of the following is not a function? ____

A) AVERAGE
B) SUM
C) CUBE
D) MEDIAN

Question 55

MATCHING
Identify the letter of the choice that best matches the phrase or definition.
a.NOW
g.F4
b.PMT function
h.Absolute references
c.Principal
i.nested
d.Simple interest
j.mixed
e.fv
k.Mon,Tues,Wed,Thurs,Fri
f.<
l.Median
To calculate payments for any type of loan

Question 56

Which of the following is a Math & Trig function? ____

A) INT
B) COUNT
C) MIN
D) AVERAGE

Question 57

The ____ category of Excel functions retrieves and analyzes data.

A) Text
B) Database
C) Information
D) Logical

Question 58

Referring to the figure above,the last entry shown in Column N is 7,200.There is a black "plus sign" on the lower right edge of the cell that is the ____.

A) fill handle
B) Auto Fill Options button
C) formula finder
D) function finder

Question 59

The numbers,text,or cell references used by the function to return a value are called ____.

A) expressions
B) arguments
C) data
D) values

Question 60

Referring to the figure above,the last entry shown in Column N is 7,200.There is an icon in the cell underneath the 7,200 which is the ____.

A) fill handle
B) Auto Fill Options button
C) formula finder
D) function finder

Question 61

If you were to see ##### in cell B10,the ____ is too small to view the entire value.

A) column width
B) row height
C) both a.and b.
D) neither a.nor b.

Question 62

Referring to the figure above,the Insert Function button opens the ____ dialog box from which you can select a function.

A) Function Gallery
B) Insert Function
C) Create Function
D) Find Function

Question 63

Absolute references are marked with a ____.

A) <
B) :
C) $
D) !

Question 64

The amount of money being loaned is known as the ____.

A) mortgage
B) principal
C) loan amount
D) proposed principal

Question 65

In the figure above,pv stands for the ____.

A) payments verified
B) principal value of the loan
C) present value of the loan
D) primary interest rate of the loan

Question 66

Referring to the figure above,the Home Loan Calculator uses the ____ function.

A) SUM
B) MAX
C) LOAN
D) PMT

Question 67

Which of the following is not a comparison operator? ____

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

Question 68

The PMT function is a(n)____ function.

A) date
B) IF
C) financial
D) Statistical

Question 69

In the following formula: =IF(A1="YES","DONE","RESTART"),what happens if A1= "NO"?

A) The formula returns the text "RESTART".
B) The formula returns the text "DONE".
C) The formula returns the text "NO".
D) The formula returns the text "NO,RESTART".

Question 70

In the figure above,fv and type are ____.

A) financial functions
B) required arguments
C) comparison operators
D) optional arguments

Question 71

If you wanted to find the correct function for this worksheet,you would look in the ____ category of functions.

A) Financial
B) Logical
C) Math & Trig
D) AutoSum

Question 72

One of the great advantages of ____ references is that you can quickly generate row and column totals without having to worry about revising the formulas as you copy them to new locations.

A) cell
B) relative
C) absolute
D) formula

Question 73

With ____ interest,the borrower always pays more money to the lender the following year.

A) principal
B) simple
C) compound
D) maximum

Question 74

In the figure above,nper stands for the ____.

A) total number of payment periods required to pay off the loan
B) total number of payment periods required to pay off the interest
C) number of payments per year
D) number of interest payments per year

Question 75

The ____ function returns the maximum value in the range.

A) TOP
B) FIRST
C) MAX
D) MOST

Question 76

The function being shown in the figure above is the ____ function.

A) Interest Payment
B) Payment
C) Loan
D) Principal

Question 77

Which of the following is not a date function? ____

A) Year
B) Now
C) And
D) Today

Question 78

In the figure above,the total number of payments can be found as follows: ____

A) =B4*B6
B) =B4/B6
C) =B6*B4
D) =B6/B4

Question 79

Referring to the figure above,the monthly payment is expressed as a negative value (because Excel treats it as ____).

A) income
B) an expense
C) both a.and b.
D) neither a.nor b.

Question 80

The FV function stands for ____.

A) function value
B) future value
C) financial value
D) formulated value