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Exam 7: Specialized Functions

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Exam 1: Introduction to Excel100 Questionsadd course
Exam 2: Formulas and Functions100 Questionsadd course
Exam 3: Charts100 Questionsadd course
Exam 4: Datasets and Tables100 Questionsadd course
Exam 5: Subtotals, Pivottables, and Pivotcharts100 Questionsadd course
Exam 6: What-If Analysis100 Questionsadd course
Exam 7: Specialized Functions100 Questionsadd course
Exam 8: Statistical Functions100 Questionsadd course
Exam 9: Multiple-Sheet Workbook Management98 Questionsadd course
Exam 10: Imports, Xml, and Power Add-Ins95 Questionsadd course
Exam 11: Collaboration and Workbook Distribution96 Questionsadd course
Exam 12: Templates, Styles, and Macros97 Questionsadd course
Exam 13: Appendix: Exploring Microsoft Office Excel 2016 Comprehensive Poatsygrauer115 Questionsadd course
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Associate the following functions with its corresponding purpose:
Premises:
Responses:
OR
Returns the interest rate of a loan or investment
MATCH
Returns true if any criteria are true
INDEX
Decision structure
Correct Answer:
Verified
Premises:
Responses:
OR
Returns the interest rate of a loan or investment
MATCH
Returns true if any criteria are true
INDEX
Decision structure
RATE
Returns the value of the intersection of a specified row and column
IF
Returns the position of a particular value
(Matching)
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Question 81

What type of match would the following function return when the lookup array is sorted in descending order? =MATCH(A3,B7:B53,-1)

(Multiple Choice)
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(78)
Question 82
Match each of the following terms to its best description:
Premises:
Responses:
Lookup value
The first argument in the match function, the value to be found
Position
The second argument in the INDEX function
Column_num
The range of values to be used in an index function's first argument
Correct Answer:
Verified
Premises:
Responses:
Lookup value
The first argument in the match function, the value to be found
Position
The second argument in the INDEX function
Column_num
The range of values to be used in an index function's first argument
Row_num
The last argument in the INDEX function
Array
Return of the Match function
(Matching)
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Question 83

The NPV function is used mostly to calculate return rates for IRAs.

(True/False)
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Question 84

This is a correct example of the structure of an IPMT function.=IPMT(rate,per,nper,pv,[fv],[type])

(True/False)
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Question 85

A loan amortization table is a schedule that calculates the interest per payment period, principal repayment for each payment, and remaining balance after each payment is made.

(True/False)
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Question 86

The RATE function returns the periodic rate for an investment or loan.

(True/False)
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(90)
Question 87
Match each of the following nested functions to its correct return based on this table:
 A  B  C  D 1 Item  Color1  Color2 2 Car  Blue  Green 3 Phone  Red  Blue 4 Flower  Yellow  Pink \begin{array}{|c|l|c|l|c|} \hline & \text { A } & \text { B } & \text { C } & \text { D } \\\hline 1 & \text { Item } & \text { Color1 } & \text { Color2 } & \\\hline 2 & \text { Car } & \text { Blue } & \text { Green } & \\\hline 3 & \text { Phone } & \text { Red } & \text { Blue } & \\\hline 4 & \text { Flower } & \text { Yellow } & \text { Pink } & \\\hline\end{array}
Premises:
Responses:
in D4 =IF(OR(B4="Blue",B4="Red"),A4,"else")
Flower
in D2 =IF(OR(B2="Blue",B2="Red"),A2,"else")
Else
in D3 =IF(AND(B2="Blue",(NOT(B3="Green"),A2,"else")
An error
Correct Answer:
Verified
Premises:
Responses:
in D4 =IF(OR(B4="Blue",B4="Red"),A4,"else")
Flower
in D2 =IF(OR(B2="Blue",B2="Red"),A2,"else")
Else
in D3 =IF(AND(B2="Blue",(NOT(B3="Green"),A2,"else")
An error
in D4=IF(NOT(B4="Blue"),A3,A4
Car
in D3=IF(AND(B3="Blue",B3="Red"),A3,A4)
Phone
(Matching)
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Question 88

The ________ function calculates the cumulative interest through a specified number of payments.

(Short Answer)
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Question 89

The ________ function identifies the highest value in a database column that matches specified conditions in a criteria range.

(Short Answer)
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Question 90

The ________ database function will add the values on a specified criteria range.

(Short Answer)
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Question 91

The first argument of any database function is ________.

(Short Answer)
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Question 92

What function returns the total present value of an investment with a fixed rate, specified number of payment periods and a series of identical future payments?

(Multiple Choice)
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Question 93

The ________ function calculates the current value of an investment given a fixed discount rate.

(Short Answer)
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Question 94

Which is not an argument in an INDEX function?

(Multiple Choice)
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Question 95

Which function returns the relative position of a value?

(Multiple Choice)
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Question 96

The ________ function calculates the principal payment for a specified period on a loan or investment.

(Multiple Choice)
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Question 97

Which function calculates the total principal through a specified number of payments?

(Multiple Choice)
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Question 98

You need to know how many clients you have in a dataset with these fields in these ranges.Criteria are in A363:F365. You need to know how many clients you have in a dataset with these fields in these ranges.Criteria are in A363:F365. Which function would accomplish this task? Which function would accomplish this task?

(Multiple Choice)
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Question 99
Match each of the following terms to its best description of its function in a loan:
Premises:
Responses:
Amortization Table
Periodic interest at a point in time of a loan
CUMPRINC
The total amount of principal paid on a loan at a point in time
CUMIPMT
Principal paid on a loan at a point in time
Correct Answer:
Verified
Premises:
Responses:
Amortization Table
Periodic interest at a point in time of a loan
CUMPRINC
The total amount of principal paid on a loan at a point in time
CUMIPMT
Principal paid on a loan at a point in time
IPMT
The total amount of interest paid on a loan at a point in time
PPMT
Visually organize the payments in a loan
(Matching)
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(89)
Question 100
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