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The maximum number of IF statements in one formula is 64.

Correct Answer

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The MATCH type should be set to ________ when matching words with the MATCH function.

Correct Answer

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The IPMT function should be used to calculate the specific interest paid on one installment of a loan.

Correct Answer

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Match the following terms with the corresponding description.

Premises
INDEX
Lookup_value
MATCH
VLOOKUP
HLOOKUP
Responses
Looks for a value in the left most column of a table,and then returns a value in the same row from a column you specify
Returns a value or the reference to a value within a range based on X and Y coordinates
The value that you want to find in the array or list.
Returns the position of a value in a list
Looks for a value in the top row of a table or array of values and returns the value in the same column from a row you specify

Correct Answer

INDEX
Lookup_value
MATCH
VLOOKUP
HLOOKUP

The MATCH function will return a value of 1 if the given lookup_value is the largest number in an array of numbers.

Correct Answer

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Returns the value or the reference to a value within a range based on X and Y coordinates.


A) DSUM
B) INDEX
C) IPMT
D) PPMT

Correct Answer

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In the FV function,the rate argument refers to the:


A) total number of periods.
B) repayment type.
C) periodic rate.
D) payment.

Correct Answer

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When using the MATCH function with an exact match lookup_value,the match type must be set to:


A) 1.
B) 0.
C) -1.
D) 2.

Correct Answer

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The ________ function is best suited when two or more logical tests are required and all conditions must be true in order to return the value_if_true.

Correct Answer

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Match the following terms with the corresponding description.

Premises
NPER
FV
IPMT
PPMT
CUMIPMT
Responses
Use this function to calculate the future value
Use this function to calculate the number of periods in a loan
Use this function to calculate the amount of principle paid on the first payment of a car loan
Use this function to calculate the interest of the first payment of an autoloan
Use this function to calculate the total interest paid on a mortgage

Correct Answer

NPER
FV
IPMT
PPMT
CUMIPMT

The ________ function is best suited to return the highest numerical value of a range of values within a database.

Correct Answer

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The first argument of the INDEX function is:


A) row_num.
B) array.
C) column_num.
D) match type.

Correct Answer

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If there are four possible outcomes,how many logical tests are required?


A) 4
B) 3
C) 2
D) 1

Correct Answer

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Which of the following functions returns a value or the reference to a value within a range based on X And Y coordinates?


A) MATCH
B) INDEX
C) VLOOKUP
D) HLOOKUP

Correct Answer

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CUMIPMT calculates the cumulative interest throughout a loan.

Correct Answer

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Which function will return the intersection of a specific row and column?


A) VLOOKUP
B) HLOOKUP
C) INDEX
D) MATCH

Correct Answer

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What is the maximum number of IF statements in a formula?


A) 32
B) 54
C) 64
D) 100

Correct Answer

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Which of the following functions will calculate the total interest paid between select periods?


A) CUMPRINC
B) PPMT
C) IPMT
D) CUMIPMT

Correct Answer

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What is the first argument of the IF function?


A) Value_if_false
B) Value_if_true
C) logical_test
D) lookup_value

Correct Answer

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What is the benefit of using MATCH nested with INDEX over lookup functions such as VLOOKUP?

Correct Answer

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The MATCH and INDEX function can perform...

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