Exam 2: Formulas and Functions

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The ________ is the lowest value for a category in the table lookup table.

(Short Answer)
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Which keyboard shortcut toggles through the types of reference options?

(Multiple Choice)
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Match the example by replacing the “____” with the proper function:
=“____” (12%/12,360,-120000)
VLOOKUP
=“____” (B7>9,"Bigger","Smaller")
NOW
=“____” (B9:E21)
SUM
Correct Answer:
Verified
Premises:
Responses:
=“____” (12%/12,360,-120000)
VLOOKUP
=“____” (B7>9,"Bigger","Smaller")
NOW
=“____” (B9:E21)
SUM
=“____” (A4,B4:F9,2)
IF
=“____” ()
PMT
(Matching)
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Match the following terms with their description:
A good example is interest
PMT
Returns the system date and time
NOW
Current amount of a loan
RATE
Correct Answer:
Verified
Premises:
Responses:
A good example is interest
PMT
Returns the system date and time
NOW
Current amount of a loan
RATE
Helps figure out how much a loan will cost each month
TODAY
Returns the system date
PV
(Matching)
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The range that contains the lookup table is called the ________.

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

(True/False)
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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?

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

(Essay)
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If a cell contains =$N$21 and two new columns are inserted in front of column N and three rows are inserted above row 21,what happens to the =$N$21?

(Multiple Choice)
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Which of the following is not a category of functions?

(Multiple Choice)
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Match the following terms with their description:
Median
Midpoint value
Breakpoint
Range used for looking up values
Sum
Total
Correct Answer:
Verified
Premises:
Responses:
Median
Midpoint value
Breakpoint
Range used for looking up values
Sum
Total
Average
Lowest value in a series
Table array
Arithmetic mean
(Matching)
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________ references change when formulas are copy and pasted.

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

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

(True/False)
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The inputs in a function are specified by its ________.

(Short Answer)
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Match the following terms with their description:
Lookup value
Data is organized in columns
Column index number
Has the data used with HLOOKUP or VLOOKUP
Lookup table
Column that contains the return values
Correct Answer:
Verified
Premises:
Responses:
Lookup value
Data is organized in columns
Column index number
Has the data used with HLOOKUP or VLOOKUP
Lookup table
Column that contains the return values
VLOOKUP
Cell that contains the value to be looked up
HLOOKUP
Data is organized in rows
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The HLOOKUP function can only be used to find exact matches.

(True/False)
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You could use both A3>b9 or B9<A3 as the test in an IF function and get the same results.You would just switch the second and third arguments.

(True/False)
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When entering functions,the square brackets,[],indicate required values.

(True/False)
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This is not a valid way to use the MAX function: =MAX(a4: d11,f1: f2)

(True/False)
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