2026/2027
Wall Street Prep Excel Crash Course
Retake Exam Comprehensive Study
Guide and Practice Review
2026/2027 Edition for Financial
Modeling Mastery
Question 1
A student is working in Microsoft Excel and wants to add multiple worksheets into a
workbook using a keyboard shortcut. Which of the following shortcuts is NOT used
for adding a new worksheet or sheet-related insertion?
A. Alt + H + I + W
B. Ctrl + Shift + N
C. Alt + H + I + S
D. Alt + E + L
Correct Answer: B. Ctrl + Shift + N
Rationale: In Excel, sheet insertion and manipulation are primarily done through Alt-
based ribbon shortcuts such as Alt + H + I + W or Alt + H + I + S. Ctrl + Shift + N is
not a recognized Excel shortcut for inserting worksheets and is not part of Excel’s
default command structure. The other options correspond to worksheet insertion or
deletion functions depending on version and ribbon mapping.
Question 2
Which keyboard shortcut is used to open an existing file in Microsoft Excel?
A. Ctrl + P
B. Ctrl + O
C. Ctrl + N
D. Ctrl + S
Correct Answer: B. Ctrl + O
Rationale: Ctrl + O is the standard shortcut used to open an existing file across
Microsoft Office applications. Ctrl + N creates a new file, Ctrl + S saves, and Ctrl + P
opens the print dialog, making them incorrect for file opening.
,2026/2027
Question 3
What is the recommended calculation setting in Microsoft Excel for most professional
spreadsheet work?
A. Manual calculation
B. Automatic except for data tables
C. Automatic only
D. Iterative calculation always enabled
Correct Answer: B. Automatic except for data tables
Rationale: This setting ensures Excel recalculates formulas automatically while
improving performance when handling large or complex data tables. Full manual
calculation may cause errors if updates are missed, while full automatic calculation
may slow performance in heavy datasets.
Question 4
Which key combination allows a user to edit an existing formula in Excel?
A. F1
B. F2
C. F4
D. F5
Correct Answer: B. F2
Rationale: F2 activates edit mode for the selected cell, allowing direct modification of
formulas. F1 opens help, F4 repeats actions or toggles references, and F5 is used for
“Go To” functionality.
Question 5
Which shortcut highlights an entire column in Excel?
A. Shift + Space
B. Ctrl + Space
C. Alt + Space
D. Ctrl + Shift + Space
Correct Answer: B. Ctrl + Space
Rationale: Ctrl + Space selects the entire column of the active cell. Shift + Space
selects rows, while other combinations do not apply to column selection.
, 2026/2027
Question 6
Which shortcut highlights an entire row in Excel?
A. Ctrl + Space
B. Shift + Space
C. Alt + Space
D. Ctrl + R
Correct Answer: B. Shift + Space
Rationale: Shift + Space selects the entire row. Ctrl + Space selects columns, making
the other options incorrect.
Question 7
Which keyboard shortcut applies bold formatting in Microsoft Excel (Mac system)?
A. Command + B
B. Ctrl + B
C. Alt + B
D. Shift + B
Correct Answer: A. Command + B
Rationale: On Mac systems, Command + B is used to bold text. Ctrl + B is used in
Windows environments, while Alt combinations are not used for formatting in Excel.
Question 8
Which shortcut is used for Paste Special in Excel?
A. Ctrl + V
B. Alt + E + S
C. Ctrl + P
D. Shift + V
Correct Answer: B. Alt + E + S
Rationale: Alt + E + S opens the Paste Special dialog, allowing selective pasting of
values, formats, or formulas. Ctrl + V performs a standard paste only.
Question 9
Which shortcut opens the Format Cells dialog box in Excel?
Wall Street Prep Excel Crash Course
Retake Exam Comprehensive Study
Guide and Practice Review
2026/2027 Edition for Financial
Modeling Mastery
Question 1
A student is working in Microsoft Excel and wants to add multiple worksheets into a
workbook using a keyboard shortcut. Which of the following shortcuts is NOT used
for adding a new worksheet or sheet-related insertion?
A. Alt + H + I + W
B. Ctrl + Shift + N
C. Alt + H + I + S
D. Alt + E + L
Correct Answer: B. Ctrl + Shift + N
Rationale: In Excel, sheet insertion and manipulation are primarily done through Alt-
based ribbon shortcuts such as Alt + H + I + W or Alt + H + I + S. Ctrl + Shift + N is
not a recognized Excel shortcut for inserting worksheets and is not part of Excel’s
default command structure. The other options correspond to worksheet insertion or
deletion functions depending on version and ribbon mapping.
Question 2
Which keyboard shortcut is used to open an existing file in Microsoft Excel?
A. Ctrl + P
B. Ctrl + O
C. Ctrl + N
D. Ctrl + S
Correct Answer: B. Ctrl + O
Rationale: Ctrl + O is the standard shortcut used to open an existing file across
Microsoft Office applications. Ctrl + N creates a new file, Ctrl + S saves, and Ctrl + P
opens the print dialog, making them incorrect for file opening.
,2026/2027
Question 3
What is the recommended calculation setting in Microsoft Excel for most professional
spreadsheet work?
A. Manual calculation
B. Automatic except for data tables
C. Automatic only
D. Iterative calculation always enabled
Correct Answer: B. Automatic except for data tables
Rationale: This setting ensures Excel recalculates formulas automatically while
improving performance when handling large or complex data tables. Full manual
calculation may cause errors if updates are missed, while full automatic calculation
may slow performance in heavy datasets.
Question 4
Which key combination allows a user to edit an existing formula in Excel?
A. F1
B. F2
C. F4
D. F5
Correct Answer: B. F2
Rationale: F2 activates edit mode for the selected cell, allowing direct modification of
formulas. F1 opens help, F4 repeats actions or toggles references, and F5 is used for
“Go To” functionality.
Question 5
Which shortcut highlights an entire column in Excel?
A. Shift + Space
B. Ctrl + Space
C. Alt + Space
D. Ctrl + Shift + Space
Correct Answer: B. Ctrl + Space
Rationale: Ctrl + Space selects the entire column of the active cell. Shift + Space
selects rows, while other combinations do not apply to column selection.
, 2026/2027
Question 6
Which shortcut highlights an entire row in Excel?
A. Ctrl + Space
B. Shift + Space
C. Alt + Space
D. Ctrl + R
Correct Answer: B. Shift + Space
Rationale: Shift + Space selects the entire row. Ctrl + Space selects columns, making
the other options incorrect.
Question 7
Which keyboard shortcut applies bold formatting in Microsoft Excel (Mac system)?
A. Command + B
B. Ctrl + B
C. Alt + B
D. Shift + B
Correct Answer: A. Command + B
Rationale: On Mac systems, Command + B is used to bold text. Ctrl + B is used in
Windows environments, while Alt combinations are not used for formatting in Excel.
Question 8
Which shortcut is used for Paste Special in Excel?
A. Ctrl + V
B. Alt + E + S
C. Ctrl + P
D. Shift + V
Correct Answer: B. Alt + E + S
Rationale: Alt + E + S opens the Paste Special dialog, allowing selective pasting of
values, formats, or formulas. Ctrl + V performs a standard paste only.
Question 9
Which shortcut opens the Format Cells dialog box in Excel?
