Exam 6: Excel : Formulas and Functions

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

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

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

Match the example by replacing the ??? with the proper function: I. =???(B7>9,"Bigger","Smaller") II. =???(12%\12,360,-120000) III. =???(A4,B4:F9,2) IV. =???(B9:E21) V. =???() A. NOW B. PMT C. VLOOKUP D. IF E. SUM

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

Functions can be selected by using the ________.

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

Match the following terms with their description: I. COUNT II. COUNTA III. COUNTBLANK IV. IF V. NPER A. Only uses calculable values B. Evaluates true and false statements C. Includes text, but not blank cells D. Length of time you will be paying on a loan E. Only includes empty cells

The test argument in an IF statement must evaluate to either ________.

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

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

Which of the following would not give the same result for "=(5+32+75+21)\4"?

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

The ________ function finds the smallest value in a range.

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

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

Match the following terms with their description: I. NOW() II. TODAY() III. PV IV. RATE V. PMT A. Current amount of a loan B. Helps figure out how much a loan will cost each month C. A good example is interest D. Returns the system date E. Returns the system date and time

If you will be paying monthly for six years to pay off a car, then you would enter ________ in the NPER argument in the PMT function.

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

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