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BUAD 1305 Excel Quiz 3 Tutorial 3

True/False
Indicate whether the statement is true or false.
 

 1. 
When you enter a formula into a cell, Excel interprets cell references in the formula in relation
to the cell’s location.
 

 2. 
The Rand( ) function falls under the Statistical category.
 

 3. 
Optional arguments are always placed last in the argument list.
 

 4. 
One challenge of nesting functions is to make sure that you include all of the parentheses.
 

 5. 
Functions are organized in the Function Library group in the Function tab on the Ribbon.
 

 6. 
To enter a mixed reference, type $ after either the row or column reference.
 

 7. 
Not all functions have arguments.
 

 8. 
Functions can be incorporated as part of larger formulas.
 

 9. 
COUNT is a statistical function.
 

 10. 
You can open the Insert Function dialog box by clicking the Insert Function button on the Ribbon.
 

 11. 
Using the AutoFill feature is more efficient than copying and pasting.
 

 12. 
In the list of AutoFill Options, the Fill Formatting Only option is the default setting.
 

 13. 
AutoFill can recognize some patterns if you plug in a minimum of at least two values, such as “Monday, Tuesday.”
 

 14. 
You can build decision-making capability into a formula through the use of a logical function.
 

 15. 
If a formula contains several functions, Excel starts with the outermost function and then moves inward.
 

 16. 
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.
 

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
 

 17. 

 Optional argument in the PMT function
 

 18. 

 A date function
 

 19. 

 Used to cycle through reference types
 

 20. 

 The amount of money loaned
 

 21. 

 Those that are fixed
 

 22. 

 Equal to a percentage of principal for each period that the money has been lent
 

 23. 

 A comparison operator
 

 24. 

 To calculate payments for any type of loan
 

 25. 

 A function inside another function
 

 26. 

 A statistical function
 

 27. 

 Contains absolute and relative references
 

 28. 

 AutoFill pattern
 

Multiple Choice
Identify the choice that best completes the statement or answers the question.
 

 29. 
The ____ category of Excel functions retrieves and analyzes data.
a.
Text
c.
Information
b.
Database
d.
Logical
 

 30. 
The ____ category of Excel functions returns (true-false) values
a.
Information
c.
Logical
b.
Statistical
d.
Math & Trig
 

 31. 
Which of the following is a Statistical function?
a.
INT
c.
ROUND
b.
RAND
d.
AVERAGE
 

 32. 
Which of the following is not a Math & Trig function? ____
a.
INT
c.
ROUND
b.
RAND
d.
AVERAGE
 

 33. 
=MAX(A1:A100)/100 is an example of a(n) ____ function.
a.
complex
c.
absolute
b.
logical
d.
nested
 

 34. 
Which of the following is not a function? ____
a.
AVERAGE
c.
CUBE
b.
SUM
d.
MEDIAN
 

 35. 
The numbers, text, or cell references used by the function to return a value are called ____.
a.
expressions
c.
data
b.
arguments
d.
values
 
 
nar001-1.jpg
 

 36. 
Item 1 in the figure above is a result of  ____.
a.
entering a function in a cell
b.
entering MI in a cell
c.
right-clicking a cell to choose from a list of functions
d.
both a and b are correct
 

 37. 
Item 2 in the figure above is a(n)____.
a.
explanation of the formula results
c.
ScreenTip
b.
description of the selected function
d.
both b and c are correct
 

 38. 
Which of the following is not a comparison operator? ____
a.
=
c.
<<
b.
<=
d.
<>
 

 39. 
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”
 

 40. 
Which of the following is not a date function? ____
a.
Year
c.
And
b.
Now
d.
Today
 

 41. 
The PMT function is a(n) ____ function.
a.
Date
c.
Financial
b.
IF
d.
Statistical
 

 42. 
With ____ interest, the borrower always pays more money to the lender the following year.
a.
principal
c.
compound
b.
simple
d.
maximum
 

 43. 
The FV function stands for ____.
a.
function value
c.
financial value
b.
future value
d.
formulated value
 

 44. 
The amount of money being loaned is known as the ____.
a.
mortgage
c.
loan amount
b.
principal
d.
proposed principal
 
 
nar002-1.jpg
 

 45. 
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
 

 46. 
In the figure above, pv stands for the ____.
a.
payments verified
c.
present value of the loan
b.
principal value of the loan
d.
primary interest rate of the loan
 

 47. 
In the figure above, fv and type are ____.
a.
financial functions
c.
comparison operators
b.
required arguments
d.
optional arguments
 

 48. 
The function being shown in the figure above is the ____ function.
a.
Interest Payment
c.
Loan
b.
Payment
d.
Principal
 

 49. 
The ____ button is equivalent to using the SUM function.
a.
COUNT
c.
AutoSum
b.
ADD
d.
AddSum
 

 50. 
The advantage of ____ references is that you can create a “general” formula that
you can use again and again in your worksheet.
a.
cell
c.
absolute
b.
relative
d.
formula
 

 51. 
Absolute references are marked with a ____.
a.
<
c.
$
b.
:
d.
!
 

 52. 
When you copy a formula that contains an absolute reference to a new location, the reference
____.
a.
is updated automatically
c.
becomes bold
b.
does not change
d.
has a dotted outline in its cell
 

 53. 
Which type of ____ references should you use when you want different formulas to refer to the same cell.
a.
mixed
c.
absolute
b.
relative
d.
fixed
 

 54. 
The most common approach to summarize data is to ____ it.
a.
record
c.
count
b.
average
d.
organize
 

 55. 
Another name for the middle value is the ____ value.
a.
mode
c.
median
b.
center
d.
relative
 

 56. 
The ____ is most often used with data that has only a few possible values.
a.
mode
c.
middle
b.
median
d.
sum
 

 57. 
Arguments can be ____.
a.
cell references
c.
text
b.
numbers
d.
all of the above
 

 58. 
In the formula =INT(AVERAGE(A1:A100)), which would occur first? ____
a.
The average of the values in the range A1:A100 is added to the integer
b.
The average of the integer value is calculated.
c.
The average of the values in the range A1:A100 is calculated.
d.
The integer portion of the value is extracted
 

 59. 
Which function is used to change  3,162.50 to  3,163? ____
a.
RAND
c.
DROP
b.
ROUND
d.
ROUNDUP
 

 60. 
Using AutoFill is ____ than copying and pasting.
a.
slower
c.
safer
b.
faster
d.
riskier
 

 61. 
Using AutoFill, what would be the extended series of the initial entry Jan? ___
a.
uary
c.
Kan, Lan, Man, Nan
b.
Feb, Mar, Apr
d.
Jan1, Jan2, Jan3,
 

 62. 
As you drag the fill handle, you will see ____.
a.
the AutoFill Options button flashing
c.
the AutoFill wizard
b.
ScreenTips
d.
accents
 

 63. 
A logical function is a function that works with values that are either ____.
a.
right or wrong
c.
positive or negative
b.
absolute or relative
d.
true or false
 

 64. 
>= is a(n) ____ operator.
a.
absolute
c.
mathematical
b.
comparison
d.
statistical
 

 65. 
In the formula =IF(A1=B1, C1, C2), the result will be C2 if ____.
a.
A is equal to B
c.
A1+B1 is equal to C1
b.
A does not equal B
d.
none of the above
 



 
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